AutoNation, the automotive retail giant, has named Mike Manley, the former chief executive of Fiat Chrysler, as its chief executive, replacing Mike Jackson, who is retiring after running the company for most of the last 22 years. Mr. Manley, 57, will start Nov. 1 at AutoNation, which operates more than 300 dealerships across the country.… Continue reading AutoNation names Mike Manley as its chief executive, replacing Mike Jackson.
Retail sales of cars are back to January 2018 levels in August 2021.Two-wheeler retail sales are 22 per cent lower.Abhishek Waghmare/Business Standard reports. Eighteen months into the pandemic, there is a definite sense of recovery in the Indian economy. Gross domestic product in April-June of FY22 was 20 per cent more than same period a… Continue reading What Auto Sales Tell Us About Economy
The key benchmark Indian stock market index, Nifty 50, recently breached the 17,500 level and the free-float market-weighted stock market index, Sensex, crossed the elusive 55,000 mark. The Indian stock market witnessed a bull run and a massive rally for the first time ever and may touch record new levels every day. Which is why… Continue reading Stock Market Boom: Is Your Money SAFE?
CNBC's Jim Cramer said Monday investors should take profits in their crypto holdings. The "Mad Money" host said the struggles of Chinese developer Evergrande are likely to keep weighing on crypto markets. CNBC's Jim Cramer urged investors who have gains in their cryptocurrency portfolios to take some profits, saying Monday he believes digital currencies are… Continue reading Cramer urges investors to take some crypto profits, citing Evergrande-related tether risks
Budget deficit dropped to £20.5bn in August but was offset by high interest payments on national debt Last modified on Tue 21 Sep 2021 03.06 EDT The UK government was forced to borrow more than expected in August as soaring inflation pushed up debt interest payments. The Office for National Statistics said the government’s budget… Continue reading UK forced to borrow more than expected as soaring inflation bites
Covid-19 is officially the most deadly outbreak in recent American history, surpassing the estimated U.S. fatalities from the 1918 influenza pandemic. Reported U.S. deaths due to Covid crossed 675,000, the estimated U.S. fatalities from the 1918 flu, and are still increasing. "This is the pandemic I will be studying and teaching to the next generation of… Continue reading Covid is officially America's deadliest pandemic as U.S. fatalities surpass 1918 flu estimates
European stocks are set to open on a cautious note Monday as investors fret over slowing global growth and rising inflationary pressures. Investors await U.S. consumer inflation figures for August this week amid concerns the Federal Reserve and other central banks might move sooner to nudge interest rates up from the ultra-low levels. U.S. wholesale… Continue reading European Shares Likely To Open On Cautious Note
London (CNN Business)Cigarette giant Philip Morris International has taken control of UK inhaler maker Vectura despite objections from health care charities. The producer of Marlboro and Parliament cigarettes said in a statement on Thursday that it had secured nearly 75% of Vectura’s shares, making it the majority shareholder. More than 45% of Vectura shareholders accepted… Continue reading Philip Morris calls for a cigarette ban in the UK by 2030
One economic forecaster predicted a slowdown in global industrial activity earlier this summer. Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, says the currency markets are now confirming his call. "We made that earlier global Industrial downturn call, and that meant that you were going to see this slowdown in industrial materials price inflation,… Continue reading A downturn in the global industrial economy is already underway, currency chart confirms
New York (CNN)It’s a good thing that consumers are in a mood to spend heading into the holiday season. They may have to dish out more for a new artificial Christmas tree this year, depending on where they buy it from. Some large sellers of artificial trees say they are increasing their prices by double-digit… Continue reading This is why your next car, cheese party or refrigerator could be in peril
But the ban has not meant that Indian publishers replaced the Chinese in terms of ranking in the top ten. Eighteen months after the government started banning Chinese mobile apps, two distinct changes have occurred in the country’s mobile app sweepstakes. The move has given a thrust to domestic app publishers, especially in certain segments… Continue reading Ban on Chinese mobile apps is bonanza for India’s own
JPMorgan will launch its hotly anticipated U.K. digital bank next week, the firm confirmed to CNBC. The move will see JPMorgan take on Britain's established banks as well as challengers like Monzo. It marks the first international expansion of JPMorgan's consumer bank brand in its 222-year history. LONDON — JPMorgan Chase is gearing up to… Continue reading JPMorgan to launch digital bank in the UK next week
Wall Street added to the global fall in equities on Monday as the liquidity crisis at Chinese property developer Evergrande shook stock markets in Asia, Europe and the US. The S&P 500 fell 1.7 per cent, marking its worst day of trading since May. It dropped as much as 2.9 per cent earlier on Monday,… Continue reading Wall Street marks biggest drop since May as Evergrande crisis intensifies
LONDON — Britain's energy industry could be headed for a significant shakeup, industry insiders have warned, as countries all over Europe grapple with an unprecedented crisis in the power sector. Wholesale gas prices have spiked across the region, with the U.K. being hit particularly hard. The front-month gas price at the Dutch TTF hub, a European… Continue reading British energy firms fear collapse as Europe’s gas crisis sees prices surge 250%
Xcel Energy customers in Colorado will see higher bills starting Oct. 1 if state regulators approve the utility’s request for a rate increase. Xcel said the price for natural gas is rising substantially because demand is outpacing supplies, which are 20% below historical averages. In addition, gas-processing facilities were damaged by Hurricane Ida when it… Continue reading Xcel Energy seeks new rate increase in Colorado
The Washington Post is expanding its editor ranks as it pushes forward with plans for growth in national and international coverage under its new executive editor, Sally Buzbee. Ms. Buzbee, the former top editor of The Associated Press who took the helm at The Post in June, announced the creation of 41 editing roles in… Continue reading The Washington Post is adding 41 new editing jobs as part of its expansion.
A debt crunch involving China's second largest properly developer has caught investors' attention in the past week. Evergrande, the Shenzhen-based company, is facing a default on its debt burden of roughly $300 billion. The crisis has echoes to the Lehman Brothers bankruptcy, which marked its 13-year anniversary last week, a development that at the time… Continue reading What China developer Evergrande's debt crunch means for U.S. investors: Ed Yardeni
Toyota unveiled its new 2022 with a bolder look, new technologies and more power. But the additional power will not from a new V-6 twin-turbo hybrid engine instead of a traditional V-8. Using twin-turbo V-6 engines has proven successful in pickup trucks, including Ford's F-150. While the Detroit automakers dominate pickup truck market in the… Continue reading Toyota unveils new 2022 Tundra pickup truck with new hybrid engine
Business leaders are welcoming news that Auckland will drop down an alert level midnight Tuesday, although firms want to see more flexibility and continued financial support. “It will be a long and hard road back to economic health but at last thousands of Auckland businesses locked down can reopen and reduce the burden and stress… Continue reading Covid-19 Delta outbreak: Business groups welcome Level 3 in Auckland
Record rise in prices threatens to force energy supplier Green to fold unless government throws it a lifeline Last modified on Sun 19 Sep 2021 15.02 EDT The energy supplier Green has warned it is among those small suppliers facing the threat of going bust amid record market prices for gas and electricity. “I don’t… Continue reading ‘I don’t think we’ll survive the winter’: a small energy supplier’s call for help
The Atlantic Festival, the signature event held each fall in Washington D.C. by The Atlantic, is returning next week as once again a virtual gathering, with a varied lineup that includes former Secretary of State Hillary Clinton, writer-producer David Chase and United Airlines CEO Scott Kirby. The event also is running longer this year, from… Continue reading The Atlantic Festival Returns As Longer, All-Virtual Event; Hillary Clinton, David Chase And Anthony Fauci In Varied Lineup
It came one day after the island announced a $9 billion boost to military spending to counter the threat from China. Taiwan has complained for a year or more of repeated missions by China's air force near the democratically governed island, often in the southwestern part of its air defense zone close to the Taiwan-controlled… Continue reading China enters Taiwan air defense zone a day after island's military budget boost
R-rated movies were officially described as “Restricted–Under 17 requires accompanying parent or adult guardian. Contains some adult material. Parents are urged to learn more about the film before taking their young children with them.” These films still are less likely to draw large audiences because much of the movie-going population is likely to avoid them.… Continue reading This Is the Highest-Grossing R-Rated Movie of All Time
Cars would be prevented from starting if the operator is impaired – but some critics worry about who could access the data Last modified on Fri 17 Sep 2021 06.02 EDT Car manufacturers would be required to include technology to monitor whether US drivers are impaired by alcohol and to disable the vehicle from operating… Continue reading Automakers could be required to install technology to detect drunk drivers