American business activity declines to 17-month minimum
In September, American private sector activity speeded down to a 17-month minimum, as follows from Friday’s survey data…
Car makers hope to reach American deal on 2025 vehicle emissions
On Tuesday, a trade group for car makers told it really hopes to reach a long-awaited deal with California as well as the Trump administration over vehicle fuel efficiency standards.
Mitch Bainwol, chief executive of the Alliance of Automobile Manufacturers, a trade group, which represents Toyota Corporation, General Motors Corporation, Volkswagen AG as well as other car makers, told at a forum ahead of the New York car show that car makers weren’t seeking a rollback of currently existing standards.
In March, Donald Trump ordered a review of American car fuel-efficiency standards from 2022-2025 imposed by the previous Obama administration, telling they were extremely tough on the car industry.
However, California opposed weakening the rules, and even threatened to adhere to tougher standards whatever happens. New York joined California’s initiative.
The White House actually intends to hold talks with car makers and also California. Obviously, a deal would finally remove uncertainty for car makers, who require years of lead time to engineer models and demand uniform rules across all 50 states.
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Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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