Chrysler

The Dallas Pension Fiasco Is Just The Beginning

The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation.

Trump Touts "People Are Seeing Big Stuff” After GM Unveils 7,000 New U.S. Jobs

"As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners.  The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”

Hyundai To Boost Investment In The US To $3.1 Billion Over 5 Years

Korea's Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new plant there - the latest auto firm to announce fresh spending after President-elect Donald Trump threatened to tax imports.

GM Will Invest Over $1 Billion In New US Factories, Create More Than 1,000 Jobs

General Motors will announce plans to invest at least $1 billion across several U.S. factories, the WSJ reported, a move aimed at underlining GM's "commitment to U.S. manufacturing jobs" following Trump’s criticism of the auto maker’s imports from Mexico. GM will also create over 1,000 new stemming from the investment.

Renault Shares Tumble After Anti-Fraud Authority Accusations Of "Cheating" On Emissions Tests

Yesterday we sarcastically noted "they are all at it" when Fiat Chrysler was slammed by the EPA for emissions cheating, and now get further confirmation of the farce as The FT reports, French authorities have started a preliminary investigation into Renault amid suspicion the company may have “cheated” to conceal abnormal emissions of pollutants from some of its diesel engines.

Futures Rise On Friday 13th Ahead Of Deluge Of Bank Earnings; Dollar Continues To Decline

European shares rose as Fiat rebounded on hopes concerns about parallel to Volkswagen are overblown, Asian stocks were little as Chinese shares fell to the lowest level of 2017 after poor export data, and U.S. equity-index futures rose ahead of a deluge of bank earnings. The dollar is headed for a weekly loss and gold trades at the highest price in almost two months.

Frontrunning: January 10

  • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
  • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
  • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
  • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
  • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
  • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)

Frontrunning: January 9

  • European shares dip, sterling falls on Brexit comments (Reuters)
  • Pound Falls to 10-Week Low as May Hints at Single-Market Exit (BBG)
  • Offshore Yuan Falls for Second Day as Bears Reload After Squeeze (BBG)
  • Trump's choices for top Cabinet posts face big tests this week (Reuters)
  • Nine Trump Nominees Who’ll Face Extreme Vetting by Democrats (BBG)
  • Meet the Mercers: New Power Brokers in Trump’s Washington (WSJ)

Party Like The Dow Is 19,999: US Futures Dip As Global Currencies Stumble; Oil Down, Gold Up

European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards.

Fiat Chrysler To Invest $1 Billion In The US, Add 2,000 Jobs

Suddenly the coolest thing in corporate America is announcing major capital investments in the US while adding thousands of American jobs, in other words the opposite of the globalization trend of the past 30 years, in yet other words, doing precisely what Donald Trump demands.