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By Kalea Hall DETROIT (Reuters) -General Motors plans to increase production of light-duty trucks at its Fort Wayne, Indiana, assembly plant, it said in a webcast sent to plant employees on Thursday and viewed by Reuters, after President Donald Trump announced 25% tariffs on auto imports. GM CEO Mary Barra had hinted at the possibility …

Exclusive-GM to increase truck production in Indiana following Trump’s tariffs Read More »

(Reuters) -The World Economic Forum founder Klaus Schwab, will “start the process” of stepping down as chair of its board of trustees, a spokesperson for the Geneva-based institution told Reuters on Thursday. Schwab said the forum, which convenes annual gatherings in the Swiss resort of Davos, must recover its “sense of mission” after a period …

Founder Klaus Schwab to step down as World Economic Forum’s chair Read More »

By Laura Matthews (Reuters) – The U.S. dollar sank against major peers on Thursday, dropping to six-month lows against the euro, and the safe haven yen and Swiss franc, as investors grappled with how U.S. President Donald Trump’s far-reaching tariffs will impact global trade and economic growth. The harsher-than-expected tariffs announcement sent shockwaves through markets, …

Dollar sinks as investors grapple with tariff aftermath Read More »

By Helen Reid and Aishwarya Venugopal (Reuters) -Prices of Nike Jordan and Adidas Samba sneakers are likely to rise in the United States after President Donald Trump imposed a raft of new tariffs on key manufacturers of sportswear and apparel including Vietnam and Indonesia. Top U.S. brands like Nike have spent years shifting away from …

Sneaker and apparel retailers blindsided by tariffs on Asian factory hubs Read More »

By Niket Nishant, Medha Singh and Alden Bentley (Reuters) -Megacap U.S. tech companies including Apple and retail giants Walmart and Nike led a global market meltdown as President Donald Trump’s sweeping new tariffs heightened fears of a spike in costs across a wide range of industries. The tariffs, which threaten to destabilize the world trade …

US tech, retail stocks lead rout after Trump’s tariff blow Read More »

By Sinead Cruise and Stefania Spezzati LONDON (Reuters) – Non-EU banks have carved out “dominant” roles in some of Europe’s key financial markets, including derivatives where U.S. banks prevail, the European Banking Authority said on Thursday as concerns about the strategic autonomy of the European financial sector grow. Reviewing the dependence of the EU banking …

US banks are ‘dominant’ in European derivatives, EBA says Read More »

(Reuters) -BP <BP.L> would shut its low-carbon mobility unit, marking the energy major’s latest retreat from its five-year-old attempt to diversify away from oil and gas, the Financial Times reported on Thursday. The oil major laid down a strategy reset in February, under which it is upping its oil and gas spend to $10 billion …

BP to close low-carbon mobility unit, returning focus to oil and gas, FT reports Read More »