23 March, 2015 by The TZ Newswire Staff Comments Off on Icahn raises stake in Chesapeake Energy to 11 percent
Icahn raises stake in Chesapeake Energy to 11 percent
Activist investor Carl Icahn raised his stake in Chesapeake Energy Corp to almost 11 percent even as the company continues to cope with low oil and gas prices. Chesapeake’s stock rose 3.8 percent to $14.64 …
23 March, 2015 by The TZ Newswire Staff Comments Off on GM to make next-generation Chevrolet Cruze in Mexico
GM to make next-generation Chevrolet Cruze in Mexico
MEXICO CITY/DETROIT (Reuters) – General Motors Co (GM.N) will build its next-generation Chevrolet Cruze compact in Mexico, the company said on Monday, as automakers look to expand in the Latin American nation to take advantage of low labor costs and free trade agreements. GM will invest $350 million to produce the Cruze at its plant in Coahuila, as part of the $5 billion investment in its Mexican plants announced last year. GM will continue manufacturing the model in Lordstown, Ohio. GM so far has identified only three plants that will make the next-generation Cruze, including in China.
23 March, 2015 by The TZ Newswire Staff Comments Off on GM, Ford to ask UAW for new lower-pay tier in U.S.: Bloomberg
GM, Ford to ask UAW for new lower-pay tier in U.S.: Bloomberg
The UAW currently has a two-tier wage system, that includes top-paid $28-an-hour assembly workers and the lower-paid second tier, whose wages top out at $19.28. The automakers would be pushing forth for a third tier wage system for certain lower-skilled jobs, Bloomberg said. “For the 2015 negotiations, we’re open to discussing many different solutions with our UAW partners that will allow us to continue to employ a competitive labor rate and add U.S. jobs and investment,” Ford spokeswoman Kristina Adamski said in a statement. Ford’s hourly labor costs were $57, just behind GM’s at $58.
23 March, 2015 by The TZ Newswire Staff Comments Off on Taco Bell serves up breakfast with ‘Biscuit Taco’
Taco Bell serves up breakfast with ‘Biscuit Taco’
A year ago, Taco Bell made a run outside its border and gambled on breakfast. Now it’s doubling down.
23 March, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Total taps Chinese banks to fund Russian project
The Wall Street Journal: Total taps Chinese banks to fund Russian project
Total is pushing ahead with a $27 billion natural-gas project in the Russian Arctic, but it will seek a big chunk of the financing — as much as $15 billion worth — through Chinese banks in local currency and euros, reports The Wall Street Journal.
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23 March, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: China forgoes veto power at new bank to win key European support
The Wall Street Journal: China forgoes veto power at new bank to win key European support
China has offered to forgo veto power at a new Beijing-led development bank, in a proposal that helped attract European countries to break with Washington and line up as founding members.
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23 March, 2015 by The TZ Newswire Staff Comments Off on China March flash HSBC PMI contracts to 11-month low, fans policy easing expectations
China March flash HSBC PMI contracts to 11-month low, fans policy easing expectations
Activity in China’s factory sector dipped to a 11-month low in March as new orders shrank, a private survey showed, signaling persistent weakness in the world’s second-largest economy that will likely fuel calls for more policy easing to support growth. The poor reading added to signs that the economy has lost momentum despite two interest rate cuts since November, a reduction in the amount of money banks must keep in reserve and repeated attempts by the central bank to reduce financing costs.