US orders for durable goods dive more than predicted in April
In April, orders for durable goods in the United States went down by about 1…
General Motors accuses Venezuela of illegally seizing its car factory
On Wednesday, General Motors announced that Venezuelan authorities had illegally seized its factory in the industrial hub of Valencia. The company vowed to immediately take all legal actions just to defend its rights.
The seizure comes amid a worsening economic downtime in leftist-led Venezuela, which has already roiled many American companies.
Yesterday, GMV's factory was suddenly taken by the public authorities. It prevented normal operations. Besides this, other assets of the company, including vehicles, have been illegally taken from its facilities, as the car maker told in its statement.
It told that the seizure would cause irreparable damage to the car maker, including its 2,678 employees, 79 dealers, not to mention its suppliers.
As for Venezuela's Information Ministry, it didn’t immediately respond to a request for information.
Venezuela's car industry has stayed in freefall, affected by an awful lack of raw materials stemming from complex currency controls as well as stagnant local output, and many factories are barely producing at all.
Similar
#WeeklyCryptoNews
Bitcoin is plunging. Negative comments in the media and stricter regulations continue to weight on the cryptocurrency.
US housing prices rally by 1.7%
In the United States housing prices tacked on by up to 1…
Popular
America will probe German and Japanese car makers over alleged patent violations
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
Gold edges down toward 3-week minimum after Congress hits spending deal
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
Crude edges down in Asia on Caixin PMI
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
Deposit with your local payment systems
