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US business spending plans measure slips in August

US business spending plans measure slips in August

WASHINGTON: A gauge of U.S. business investment plans fell slightly in August while the number of Americans filing new applications for jobless benefits barely rose last week, signs that global economic headwinds were doing little to impede U.S. growth. The Commerce Department said on Thursday capital goods orders excluding military wares and aircraft, a closely […]

September 24, 2015 | By | Reply More
Caterpillar may cut up to 10,000 jobs through 2018

Caterpillar may cut up to 10,000 jobs through 2018

REUTERS: Caterpillar Inc said it could cut up to 10,000 jobs through 2018 as part of its restructuring and cost reduction plans to save up to US$1.5 billion annually. The company said on Thursday that it would cut 4,000-5,000 jobs by the end of 2016, most of them in 2015. Caterpillar had 114,233 employees as […]

September 24, 2015 | By | Reply More
Wall St. set to open lower ahead of Yellen's speech

Wall St. set to open lower ahead of Yellen's speech

REUTERS: Wall Street was set to open lower on Thursday amid lingering concerns about global economic growth and ahead of a speech by Federal Reserve Chair Janet Yellen. U.S. stock futures barely moved after data showed that jobless claims rose less-than-expected last week and durable goods orders in August fell as much as economists had […]

September 24, 2015 | By | Reply More
Japan PM unveils 600 trln yen GDP goal, short on details

Japan PM unveils 600 trln yen GDP goal, short on details

TOKYO: Japanese Prime Minister Shinzo Abe vowed on Thursday to raise gross domestic product by nearly a quarter to 600 trillion Japanese yen (US$5 trillion), pledging to refocus on the economy after the passage of controversial security bills that eroded his popularity. Abe unveiled the plan at a news conference marking his election to a […]

September 24, 2015 | By | Reply More
EU regulators urge all nations to investigate car 'defeat' devices

EU regulators urge all nations to investigate car 'defeat' devices

BRUSSELS: The European Commission wants all member states to investigate into how many cars use illegal “defeat” devices to cheat emissions tests in light of the scandal at Volkswagen , a Commission spokeswoman said on Thursday. Volkswagen has said 11 million of its diesel cars around the world could be implicated after the U.S. Environmental […]

September 24, 2015 | By | Reply More
Futures fall sharply; Yellen speech awaited

Futures fall sharply; Yellen speech awaited

REUTERS: U.S. stock index futures fell sharply on Thursday as concerns about global economic growth grew and ahead of a speech by Federal Reserve Chair Janet Yellen. * Investors will look for clues regarding the timing of an interest rate hike when Yellen delivers a speech on inflation, a topic that is key to liftoff […]

September 24, 2015 | By | Reply More
Volkswagen to start firings over emissions scandal: sources

Volkswagen to start firings over emissions scandal: sources

HAMBURG/BERLIN: Volkswagen will start firing people responsible for rigging U.S. emissions tests and shake up management on Friday, two sources familiar with the plans said, as the German carmaker tries to get to grips with the biggest scandal in its 78-year history. The supervisory board of Europe’s biggest automaker is meeting on Friday to decide […]

September 24, 2015 | By | Reply More
Murphy's law unto himself

Murphy's law unto himself

THE GUARDIAN carried an interesting article on Tuesday, written by Zoe Williams, about Richard Murphy, the architect of Corbynomics. In it, Mr Murphy responds to the critics of his most arresting idea, “people’s quantitative easing”. Given that Mr Murphy has also responded to our misgivings about PQE (see his blog here, where he accuses us […]

September 24, 2015 | By | Reply More
Volkswagen to start firings over emissions scandal: sources

Volkswagen to start firings over emissions scandal: sources

HAMBURG/BERLIN: Volkswagen will start firing people responsible for rigging U.S. emissions tests and shake up management on Friday, two sources familiar with the plans said, as the German carmaker tries to get to grips with the biggest scandal in its 78-year history. The supervisory board of Europe’s biggest automaker is meeting on Friday to decide […]

September 24, 2015 | By | Reply More
VW customers, dealers seek speedy action on emissions scandal

VW customers, dealers seek speedy action on emissions scandal

FRANKFURT/BERLIN: Volkswagen must move quickly to recall and refit models rigged to pass U.S. emissions tests to limit the long-term impact to its reputation, dealers and consumer protection bodies say. “To regain confidence, Volkswagen needs to indemnify any consumers affected by damage,” Klaus Mueller, head of the Federation of German Consumer Organizations, said in a […]

September 24, 2015 | By | Reply More