Sectors News Results

  • Bentley Job Cuts Are Another Heavy Blow to the UK Auto Industry -Unite

    Unite the Union, a British and Irish trade union, said Friday that Bentley's announcement of 1,000 job cuts at its Crewe factory in England was "another heavy blow" for the U.K.' s auto industry. The union said the luxury carmaker, a subsidiary of Volkswagen Group, has proposed redundancies accounting for just under 25% of the workforce, which will be on a voluntary basis. It described them as another reminder of the battering the sector is taking, caught in a downturn in global demand...

  • Volkswagen's Electric Bet To Benefit From German Stimulus

    --Germany's government will increase electric vehicle subsidies for cars worth up to EUR40, 000, as part of its coronavirus-stimulus package. --Volkswagen (VLKAF) stands to benefit the most with its more affordable electric vehicle offerings, while Daimler and BMW's (BAMXF) pricer cars may lose out. --Analysts expect the stimulus to strengthen the German electric-vehicle market, and incentivize premium car makers to transition faster.

  • Chicken Industry Executives Indicted on Price-Fixing Charges -- Update

    The chief executive of one of the country's biggest chicken producers and three other industry executives were indicted Wednesday for allegedly conspiring to fix prices on chicken sold to restaurants and grocery stores, the Justice Department's first charges in a continuing criminal antitrust probe. Pilgrim's Pride Corp. CEO Jayson Penn and a former company vice president, Roger Austin, were charged in the one- count indictment, returned by a federal grand jury in Denver.

  • U.S. Treasury Yields Rise After Positive Economic Reports

    Treasury yields climbed to near the top of their recent range Wednesday after better-than-expected data on job losses and the services sector boosted investors' optimism about an economic rebound. The yield on the benchmark 10- year U.S. Treasury note rose to 0.761% by market close, its highest level since early April, according to Tradeweb, up from 0.679% at Tuesday's close.

  • U.S. Treasury Yields Rise After Positive Economic Reports

    Treasury yields climbed to near the top of their recent range Wednesday after better-than-expected data on job losses and the services sector boosted investors' optimism about an economic rebound. The yield on the benchmark 10- year U.S. Treasury note rose to 0.761% by market close, its highest level since early April, according to Tradeweb, up from 0.679% at Tuesday's close.

  • Global Services Sector Sees Tentative Pickup as Coronavirus Lockdowns Ease -- Update

    China's services activity returned to strong growth in May after a three-month slump, while services in the U.S. and the rest of the world improved a little but continued to contract. Services businesses, an important driver of growth in developed economies, were hit particularly hard by the coronavirus pandemic and related lockdowns. As shutdowns began to ease in May, surveys of purchasing managers showed that companies saw a pickup in activity for the first time since January...

  • U.S. Government-Bond Yields Rise

    Treasury yields climbed to near the top of their recent range Wednesday after better-than-expected data on job losses and the services sector boosted investors' optimism about an economic rebound. The yield on the benchmark 10- year U.S. Treasury note rose to around 0.769% during intraday trading, according to Tradeweb, up from 0.679% at Tuesday's close.

  • Global Services Sector Sees Tentative Pickup as Lockdowns Ease

    China's services sector emerged from a three-month slump to record strong growth in May, while its counterparts in the rest of the world saw further declines in activity as lockdowns began to ease. China was the first major economy to begin reopening after the novel coronavirus outbreak. But even as service providers reported a pickup in output for the first month since January, they continued to cut jobs.

  • Singapore's Financial-Sector Growth Might Slow for Rest of Year

    The growth rate of Singapore's financial sector will likely be slower for the rest of 2020 following a stellar first quarter because of weak economic activity, said Ravi Menon, managing director of the Monetary Authority of Singapore. "In terms of being able to function and operate amid the circuit breaker, the financial sector's performance has been quite heartening," Mr. Menon said in an edited transcript of a fireside chat on Friday.

  • A Record-Breaking Economic Boom Is About to Go Bust

    SYDNEY--The developed world's longest ongoing economic expansion is approaching its expiration date. Australia's 28- year growth streak survived a regional economic crisis in the 1990 s, a global economic crisis in the 2000 s, and a boom-bust cycle in its core commodity sector in the 2010 s. Now, a recession looms after the economy contracted in the first three months of the year, as catastrophic bush fires and restrictions to slow the spread of the new coronavirus took a heavy...

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