1 May, 2015 by The TZ Newswire Staff Comments Off on Anemic U.S. factory data points to moderate growth bounce
Anemic U.S. factory data points to moderate growth bounce
U.S. factory activity failed to gain steam in April after slowing for five straight months and demand for automobiles softened, suggesting the economy was struggling to find momentum after growth almost stalled in the first quarter. Other data on Friday showed construction spending hit a six-month low in March, also indicating that the anticipated acceleration in growth in the second quarter could disappoint.
1 May, 2015 by The TZ Newswire Staff Comments Off on Fed rate hike in June ‘on the table,’ two policymakers say
Fed rate hike in June ‘on the table,’ two policymakers say
ORANGE, Calif./PHILADELPHIA (Reuters) – The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter. The Fed has kept interest rates near zero since December 2008. The key, both Loretta Mester, president of the Cleveland Fed, and John Williams, president of the San Francisco Fed, said, is that by a quirk of the calendar there will be two more months of data for many of the key gauges the Fed follows, including the U.S.
1 May, 2015 by The TZ Newswire Staff Comments Off on U.S. auto sales disappoint in April as Asian automakers miss mark
U.S. auto sales disappoint in April as Asian automakers miss mark
U.S. auto industry sales in April came in below expectations as Asia’s major carmakers’ results disappointed, offsetting strong gains for trucks and SUVs made by General Motors (GM.N) and Ford (F.N). Sales reported on Friday by Japan’s Nissan , Toyota and Honda , as well as the combined results for South Korea’s Hyundai and its Kia affiliate, all missed expectations. Industry sales in April finished at 1,454,951 vehicles, up 4.6 percent according to research firm Autodata.
1 May, 2015 by The TZ Newswire Staff Comments Off on Ford expands door latch recall to 156,000 more vehicles
Ford expands door latch recall to 156,000 more vehicles
The recalls include certain Ford Fiesta, Fusion and Lincoln MKZ models. The company recalled about 390,000 of the three vehicle models in North America last week to fix the same issue. The driver’s door can potentially unlatch while the car is in motion, increasing the risk of injury, Ford said. Ford has said it is aware of two incidents in which an unlatched door bounced back and struck the driver and one incident in which an unlatched door swung open and struck another vehicle.
1 May, 2015 by The TZ Newswire Staff Comments Off on BNP Paribas sentenced in $8.9 billion accord over sanctions violations
BNP Paribas sentenced in $8.9 billion accord over sanctions violations
BNP Paribas SA (BNPP.PA) was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9 billion settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran. U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank to forfeit $8.83 billion and pay a $140 million fine as part of a sentence that also called for BNP Paribas to enhance its compliance procedures and policies. Some of that money could now go to people harmed by the three sanctioned countries under a program the U.S.
1 May, 2015 by The TZ Newswire Staff Comments Off on McDonald’s shares poised for big move; bullish bets rise
McDonald’s shares poised for big move; bullish bets rise
Options traders appear poised for a big move in McDonald’s Corp’s (MCD.N) shares as the world’s biggest restaurant chain is set to unveil a much-awaited turnaround plan on Monday, and bullish bets have picked up in recent days. McDonald’s shares have struggled in the last year as the company faces consumers’ changing tastes and growing preference for healthier fare over processed fast food. Smaller, nimbler competitors such as Wendy’s Co (WEN.O) and Chipotle Mexican Grill Inc (CMG.N) have been more responsive to those changing tastes.