Economics

Federal Reserve Signals Pause in Interest Rate Hikes

January 30, 2019 at 5:35 PM

The Federal Reserve agreed unanimously today to leave overnight lending rates unchanged and indicates it is “patient” about further increases.

Mexico Posts Record-High Trade Surplus in December

January 28, 2019 at 3:51 PM

Mexico says its trade surplus with the U.S. climbed to a monthly high of $1.8 billion, including a 7% gain for auto exports to a total of $11.5 billion.

Ford Says “Hard” Brexit Could Cost It $1 Billion

January 25, 2019 at 12:00 AM

Ford Motor Co. says it will lose as much as $1 billion if the U.K. leaves the European Union in late March without a new trade deal.

EU Warns of New Tariffs if Trump Escalates Trade War

January 23, 2019 at 5:45 PM

The European Union says it is ready to impose new tariffs on American goods if the Trump administration hikes import duties on cars and components from the bloc.

Bentley Says Profit Hinges on Smooth Brexit

January 22, 2019 at 2:29 PM

Volkswagen AG’s Bentley luxury brand’s hope for a profitable 2019 will evaporate if the U.K. exits the European Union in March with no trade deal.

IMF Lowers Global Growth Forecast Again

January 22, 2019 at 1:22 AM

The International Monetary Fund predicts the global economy will expand by 3.5% this year, down from last year’s 3.7% and the 3.7% the predicted in October.

China’s Economic Growth Slows to 28-Year Low

January 21, 2019 at 11:52 AM

China’s economy expanded by 6.6% last year, its slowest pace since 1990, according to the National Bureau of Statistics.

Ford: Brexit with No Trade Deal Would Be “Catastrophic”

January 17, 2019 at 12:52 AM

If the U.K. exits the European Union in March with no trade deal in place, the results would be “catastrophic” for the British auto industry, says Ford Motor Co.

Prime Minister’s U.K. Brexit Plan Roundly Defeated

January 16, 2019 at 12:26 AM

The British Parliament rejected a proposed “soft” exit from the European Union by a huge 432 to 202 margin on Tuesday, leaving the U.K’s future more clouded than ever.

How Tariffs Are Hurting Suppliers

January 14, 2019 at 12:00 AM

Suppliers to the auto industry are paying hundreds of millions of dollars extra because of tariffs of 25% and 10% on steel and aluminum, respectively, says the Motor & Equipment Manufacturers Assn.’s Ann Wilson.

Honda to Suspend Output in U.K. for 6 Days after Brexit

January 10, 2019 at 5:11 PM

Honda Motor Co. is the latest carmaker to announce plans to halt production in the U.K. immediately after Britain leaves the European Union at the end of March.

U.S. Fuel Prices Drop as Gasoline Supplies Rise

January 10, 2019 at 11:21 AM

The average retail price of a gallon of gasoline in the U.S. has dropped 18 cents to $2.24 in the past month as fuel inventories continue to climb, AAA reports.