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Ford moves Escape production to next year after Europe recall of Kuga By Reuters

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© Reuters. A visitor views a hybrid Ford Escape FWD small SUV at the Canadian International Auto Show in Toronto

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(Reuters) – Ford Motor Co (N:) said on Tuesday it was moving production of its plug-in Escape sport utility vehicle to next year as it reviews its vehicles with the same engine and battery parts that were recalled in Europe.

“We are moving full scale production of Escape PHEV to the 2021 model year. The first Escape PHEVs will be sold next year,” a company spokesman said in a statement.

The automaker said it recalled 20,500 Kuga PHEV vehicles in Europe last month and suspended their sale as it looks into potential concern with the high voltage battery, which in certain cases could result in a fire.

“Because we share components with Kuga PHEV, including battery cells, we are moving production to next year, while we work with the battery cell supplier to resolve the issue affecting Kuga PHEV in Europe,” a company spokesman in Europe said.

Ford, which builds Escape vehicles at Louisville plant in Kentucky, had first planned their production last spring, but that was delayed to this summer as the COVID-19 pandemic forced the automaker to shut factories.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Abu Dhabi’s IPIC drops lawsuit against Goldman Sachs over 1MDB scandal By Reuters

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© Reuters. FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney

(Reuters) – Abu Dhabi’s International Petroleum Investment Co (IPIC) dropped a lawsuit against Goldman Sachs Group Inc (N:) to recover losses suffered from the U.S. investment bank’s dealings with Malaysian state fund 1MDB, a court filing showed on Tuesday.

The lawsuit had alleged that Goldman conspired with unidentified people from Malaysia to bribe its two former executives – former IPIC managing director Khadem Abdulla al-Qubaisi and Mohamed Ahmed Badawy al-Husseiny, former CEO of Aabar, an IPIC unit – to further their business at its expense.

Goldman Sachs did not immediately respond to a Reuters request for comment. Abu Dhabi state fund Mubadala, which controls IPIC, could not be immediately reached for comment.

Malaysia in September dropped criminal charges against three Goldman Sachs units after the bank agreed to pay $3.9 billion to settle the probe.

Goldman Sachs had generated about $600 million in fees for its work with the Malaysian Sovereign wealth fund, which included three bond offerings in 2012 and 2013 that raised $6.5 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Hedge fund inflows at highest since 2018 in third quarter By Reuters

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© Reuters.

TORONTO (Reuters) – Hedge funds added $13 billion of assets between the start of July and end of September, the first time the industry has generated net inflows in any quarter since 2018, data from industry tracker Hedge Fund Research (HFR) showed.

Total assets managed by the hedge fund industry rose to $3.31 trillion at end-September, with macro strategies receiving $7.2 billion and trend-following strategies gaining $3.2 billion, the data showed.

The HFRI 500 Fund Weighted Composite Index gained 3.6% in the third quarter, bringing year-to-date performance to 0.8%. The S&P 500 would have made gains of 5.57% over the same period.

“Institutions globally are making forward-looking allocations to hedge funds, anticipating and positioning for the near-term uncertainties of both the virus and the U.S. election,” said Kenneth J. Heinz, President of HFR, said in the press release.

The hedge fund industry has come in for criticism for high fees and returns that have not matched those achieved by index trackers.

Hedge funds made 10.45% on average in 2019 compared to the S&P index tracker, which would have made 31.45% over the same period, the data showed.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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France stocks lower at close of trade; CAC 40 down 1.53% By Investing.com

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France stocks lower at close of trade; CAC 40 down 1.53%

Investing.com – France stocks were lower after the close on Wednesday, as losses in the , and sectors led shares lower.

At the close in Paris, the lost 1.53%, while the index declined 1.55%.

The best performers of the session on the were Vivendi SA (PA:), which rose 1.57% or 0.39 points to trade at 25.25 at the close. Meanwhile, Renault SA (PA:) added 0.81% or 0.20 points to end at 24.39 and Publicis Groupe SA (PA:) was up 0.51% or 0.16 points to 31.31 in late trade.

The worst performers of the session were WFD Unibail Rodamco NV (AS:), which fell 5.11% or 2.12 points to trade at 39.38 at the close. Airbus Group SE (PA:) declined 4.30% or 2.88 points to end at 64.06 and Compagnie de Saint Gobain SA (PA:) was down 3.77% or 1.38 points to 35.21.

The top performers on the SBF 120 were Virbac SA (PA:) which rose 2.29% to 223.50, Television Francaise 1 SA (PA:) which was up 1.95% to settle at 5.22 and Ingenico Group SA (PA:) which gained 1.85% to close at 135.05.

The worst performers were Mercialys SA (PA:) which was down 5.28% to 4.52 in late trade, WFD Unibail Rodamco NV (AS:) which lost 5.11% to settle at 39.38 and Sodexo SA (PA:) which was down 4.54% to 60.14 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 356 to 193 and 96 ended unchanged.

The , which measures the implied volatility of CAC 40 options, was up 5.61% to 29.23 a new 3-months high.

Gold Futures for December delivery was up 0.68% or 13.05 to $1928.45 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.48% or 1.87 to hit $39.83 a barrel, while the December Brent oil contract fell 3.85% or 1.66 to trade at $41.50 a barrel.

EUR/USD was up 0.43% to 1.1872, while EUR/GBP fell 1.18% to 0.9022.

The US Dollar Index Futures was down 0.56% at 92.532.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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