FRANKFURT, GERMANY — Shareholders in Daimler AG, maker of Mercedes-Benz luxury cars, on Friday approved the spinoff of the truck division as a separate company. The move is intended to give the division, including U.S.-based Freightliner, the freedom to react quickly to changing markets and focus on the new technologies that are transforming the automotive […]
Tag Archives: business
CALGARY — After more than a year of bare bones inflight service due to the COVID-19 pandemic, Canadians travelling by air can once again enjoy snacks, hot meals or a glass of wine on the plane. But this return to a degree of normalcy — while welcomed by many — is also making it harder […]
New car sales plunged over the last three months in the United States despite strong demand, as the shortage of computer chips and other supply chain issues caused shutdowns at auto factories and choked off the supply of vehicles. General Motors reported sales fell a third from a year-ago last quarter, and they were off […]
BEIRUT — A Turkish company supplying electricity to Lebanon from two power barges off the coast of Beirut said Friday it has halted supplies after its contract with the Lebanese state electricity company expired. The move by the Turkish company, Karpowership, which has provided electricity for the past eight years, was expected. It had said […]
World markets tumbled Friday on the tail of Wall Street’s worst monthly loss since the beginning of the pandemic. Shares dropped in Paris, London, Frankfurt and Tokyo. Shanghai and Hong Kong were closed for a holiday. The S&P 500 ended September down 4.8%, its first monthly drop since January and the biggest since March 2020. […]
OTTAWA — Statistics Canada will say Friday morning how the Canadian economy fared in July. At the end of August, the agency said its initial estimate for July showed a contraction of 0.4 per cent in real gross domestic product, despite an easing of public health restrictions. The initial estimate put total economic activity in […]
DALLAS — United Airlines says the number of employees facing termination for refusing to get vaccinated against COVID-19 has dropped nearly by half, to 320, after more of its 67,000 U.S. workers provided evidence of vaccination. An airline spokeswoman said Thursday that the declining number of potential firings shows that the company’s policy of requiring […]
TORONTO — When the COVID-19 pandemic struck, Christina Disler mulled whether to close her Vancouver co-working space business because people were so fearful of being in communal offices. “We lost like 75 per cent of our clients because we didn’t have people locked into long-term contracts because… we wanted to provide flexibility,” said the owner […]
Stocks rose in morning trading on Wall Street Thursday after U.S. lawmakers moved to avert a government shutdown, but the major indexes are still on track for monthly losses. The S&P 500 rose 0.2% as of 10:07 a.m. Eastern. The Dow Jones Industrial Average fell 50 points, or 0.2%, to 34,341 and the Nasdaq rose […]
European shares and U.S. futures climbed Thursday after U.S. lawmakers moved to avert a government shutdown. Germany’s DAX edged 0.1% higher to 15,378.85 while the CAC 40 in Paris added 0.5% to 6,593.48. In London, the FTSE 100 also gained 0.5%, to 7,146.51. The future for the Dow industrials was 0.7% higher while that for […]