Month: October 2018

Tesla announced record quarterly car production numbers on Tuesday but warned it was facing major problems with selling cars in China due to new tariffs that will force it to accelerate investment in its factory in Shanghai. The California-based electric carmaker, emerging from several months…

Iran's currency unexpectedly rallied Tuesday after weeks of depreciation linked to renewed American sanctions, sending Iranians rushing to exchange shops to cash in. In the Iranian capital, money exchange shops offered 135,000 rials for one U.S. dollar at one point, drawing crowds of onlookers and…

One of Australia’s biggest power companies says it will close a major coal-fired power station as it invests in renewable sources despite pressure from the government in Canberra to keep it open. "Run down, dangerous and expensive" is how an Australian newspaper described the Liddell…

American dairy farmers get more access to the Canadian market. U.S. drug companies can fend off generic competition for a few more years. Automakers are under pressure to build more cars where workers earn decent wages. The North American trade agreement hammered out late Sunday…

General Electric ousted its CEO, took a $23 billion charge and said it would fall short of profit forecasts this year, further signs that the century-old industrial conglomerate is struggling to turn around its vastly shrunken business.   H. Lawrence Culp Jr. will take over…

Fresh from clinching an updated North American commerce pact, U.S. President Donald Trump on Monday criticized Indian and Brazilian trade tactics, describing the latter as being "maybe the toughest in the world" in terms of protectionism. Addressing reporters at a White House event to celebrate…

After intense last-minute discussions ahead of a self-imposed midnight deadline, U.S. and Canadian officials announced late Sunday they reached a trade deal, allowing a modified three-way pact with Mexico to replace the nearly quarter-century old North American Free Trade Agreement.  The U.S.-Mexico-Canada Agreement (USMCA) –…