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UPS will not join FedEx lawsuit against U.S. government

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(Reuters) – United Parcel Service Inc said on Tuesday it would not join a lawsuit FedEx Corp filed against the U.S. government that argues FedEx should not be held liable if it inadvertently shipped products in violation of an export ban. FILE PHOTO: The logo of United Parcel Service is seen at the new package Read More

Disney poaches Netflix film executive for streaming service

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FILE PHOTO: The entrance gate to The Walt Disney Co is pictured in Burbank, California February 5, 2014. REUTERS/Mario Anzuoni (Reuters) – Walt Disney Co said on Tuesday it had hired a top executive in Netflix Inc’s original film division, Matt Brodlie, to lead international content development for its upcoming family-oriented streaming service called Disney+. Read More

FedEx warns 2020 results to be hurt by trade war, shares fall 2%

3 hours ago DieselGasoil Comments Off on FedEx warns 2020 results to be hurt by trade war, shares fall 2%
FILE PHOTO: A Federal Express truck on delivery is pictured in downtown Los Angeles, California October 29, 2014. REUTERS/Mike Blake (Reuters) – Package delivery company FedEx Corp beat Wall Street estimates for quarterly profit on Tuesday, but warned its fiscal 2020 performance would be hurt by trade uncertainty and non-renewal of Amazon contract, sending its Read More

Gold soars to six-year high, stocks slide after Powell speech

4 hours ago DieselGasoil Comments Off on Gold soars to six-year high, stocks slide after Powell speech
NEW YORK (Reuters) – Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty that the Federal Reserve will cut interest rates in July as has been expected. FILE PHOTO: Traders work on the main trading floor after the opening bell at Read More

Palestinians bring out flags & DONKEYS to show disdain for Trump’s Mideast conference (PHOTO, VIDEO)

4 hours ago DieselGasoil Comments Off on Palestinians bring out flags & DONKEYS to show disdain for Trump’s Mideast conference (PHOTO, VIDEO)
Palestinians in the Israeli-occupied West Bank marched and clashed with police to protest a US-brokered conference in Bahrain, where business delegations from the Middle East and beyond discuss Washington’s plan for Palestine. Thousands took to the streets to condemn the conference, which began in the city of Manama on Tuesday with a workshop dubbed ‘Peace Read More

Wall Street drops on trade worries, Fed Chair Powell’s speech

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NEW YORK (Reuters) – Wall Street lost ground on Tuesday as simmering trade concerns, combined with disappointing economic data, sent buyers to the sidelines, where they remained after Federal Reserve Chair Jerome Powell pushed back on pressure from President Donald Trump to cut rates. FILE PHOTO: Traders work on the floor at the New York Read More

Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

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(Reuters) – Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan’s Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker’s exit from commercial aviation. FILE PHOTO: Bombardier’s logo is seen on the building of the company’s service centre Read More

Wall St. sinks on trade jitters ahead of Powell speech

7 hours ago DieselGasoil Comments Off on Wall St. sinks on trade jitters ahead of Powell speech
NEW YORK (Reuters) – Wall Street lost ground on Tuesday as simmering geopolitical and trade concerns, combined with disappointing economic data, kept buyers at bay and investors looked to remarks from U.S. Federal Reserve chair Jerome Powell expected later in the session. FILE PHOTO: Traders work on the floor at the New York Stock Exchange Read More

Porsche recalls 340,000 cars due to parking problem

7 hours ago DieselGasoil Comments Off on Porsche recalls 340,000 cars due to parking problem
FILE PHOTO: A Porsche logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo BERLIN (Reuters) – Volkswagen’s sports-car brand Porsche has to recall almost 340,000 Cayenne and Panamera vehicles due to problems with their automatic transmission, the German company said on Tuesday. A Porsche spokesman Read More