President Financial News

Ford Motor Co. says a six-week strike by the United Auto Workers union cut sales by about 100,000 vehicles and cost the company $1.7 billion in lost profits this year

Safety officials are releasing details of their investigation into a close call between a FedEx plane and a Southwest Airlines jet earlier this year in Austin, Texas

The prospective new owner of the Dallas Mavericks is one of the richest women in the world, a Las Vegas casino mogul, and a U.S. and Israel power broker and newspaper publisher

The OPEC oil cartel and allied producers have made another big swipe at propping up lagging crude prices

A new study says that about half of Nicaragua's population of 6.2 million want to leave their homeland because of a mix of economic decline and repression from President Daniel Ortega's government

A bill that would end smoking in Atlantic City's casinos continues to go nowhere

The owner of two a south-central Montana precious metals mines is stopping work on an expansion project and laying off about 100 workers because the price of palladium fell sharply in the past year

City lawmakers in Brazil passed what appears to be the nation’s first legislation written entirely by artificial intelligence — even if they didn’t know it at the time

With 20 million weekly radio listeners, Dave Ramsey is perhaps the most influential media personality on money, which means some of his guidance can be particularly dangerous, financial advisors say.

Quiver Quantitative — Cathie Wood's ARKK Innovation ETF (ARKK) has experienced a remarkable surge in November, posting a record 31% gain. This significant uptick is fueled by investor optimism over potential US interest rate cuts in 2024, driving growth in riskier assets. ARKK's impressive performance mirrors the success Wood achieved in 2020 with ARK Investment Management. However, the current financial inflows to ARKK, approximately $150 million in November, are modest compared to the billion-dollar monthly inflows witnessed during its peak.

Investing.com — The Dow wrapped up a strong November, with swashbuckling gains on Thursday as investors cheered further a slowdown in inflation and mostly better than expected corporate earnings. 

JSW Group and China's SAIC Motor have formed a joint venture in India with a focus on green mobility and to develop the electric vehicle ecosystem, the two companies said in a statement on Thursday. JSW will take a 35% stake in the new Indian joint venture, the companies said. SAIC already has a presence in India through its fully owned unit MG Motor India but has struggled to grow its presence in the country after Chinese investments faced increased scrutiny from New Delhi. The new joint venture with JSW will also support growth of SAIC's MG in India by increasing locally sourced auto parts, expanding the production capacity and growing its charging infrastructure, the companies said.

(Reuters) — An Arizona grand jury on Wednesday indicted two Republican county commissioners, accusing them of felony interference and conspiracy for attempting to delay certification of the 2022 election, Arizona Attorney General Kris Mayes announced.

DUBAI: In an unprecedented move, the 28th round of the UN Climate Change Conference approved the structure and details of the loss and damage fund to help poor countries cope with climate disasters at its opening session. Traditionally, at the ceremonial opening of the COP, the host country takes over the presidency, the agenda for the talks is approved, and countries and negotiating groups set out their expectations. COP28 departed from the traditional fare with a quick round of pledges for the new fund. More than $400 million was pledged with hosts the UAE and Germany each pledging $100 million.

Henry Kissinger leaves behind a significant legacy in the United States, especially on how he crafted American foreign and security policy in the peak of the Cold War. From an Indian standpoint, however, his policy outlook was detrimental as it solemnised the China-Pakistan nexus which till date remains India's principal security threat. Declassified papers convey a high degree of complicity between US and China under Kissinger's watch to aid Pakistan in the 1971 war.

DFW housing and macro econ analyst Amy Nixon discusses the future of the housing market on Making Money.

By Lisandra Paraguassu, Roberto Samora and Sabrina Valle

NCP on Thursday claimed that it would have had a government with the BJP from 2017 itself and that the move was backed by NCP president Sharad Pawar at that time. The NCP, which was in opposition from 2014 to 2019, had entered into talks with the BJP to form a coalition government in 2017, claimed Maharashtra NCP president Sunil Tatkare of the Ajit faction. «In 2017, Ajit Pawar and I were asked (by Sharad Pawar) to form a government with the BJP.

bond investments, according to a report published on Thursday. The slippage follows two years of strong asset growth, with the funds also grappling with a rise in real interest rates, according to the report by OMFIF, Official Monetary and Financial Institutions Forum. OMFIF analysed data from the annual reports of the world's 50 largest public pension funds and 50 biggest sovereign funds. It also drew on surveys and contributions from 22 global public pension funds, including Singapore's GIC and Canada's CDPQ. A net 13% of survey respondents expected to reduce their real estate and conventional government bond holdings in the next 12-24 months, with funds looking, in contrast, to add inflation-linked debt and commodities, the report said. In emerging markets, nearly 40% of surveyed funds saw India as the most attractive market.

NEW DELHI : JSW Group has entered into a joint venture with China’s SAIC Motor, which markets MG Motor cars in India, and will own a 35% stake in the new entity that will focus on manufacturing electric vehicles in the country. The rest of the ownership has not been decided yet, company executives said. JSW Group’s Parth Jindal and SAIC Motor’s president Wang Xiaoqiu signed agreements for the transaction at the MG Motor office in London, the companies said on Thursday.

The CBI has conducted marathon raids across the state, including multiple locations in Kolkata and Murshidabad, in connection with the ongoing recruitment scam. Raids were conducted by the central agency in Kolkata's Patuli, Dumdum Park and Teghoria. They visited other locations in Coochbehar, Murshidabad's Domkal and Barwan, sources said. Trinamool MLA Jafikul Islam’s residence and BEd and DElEd colleges run by him, were also raided.