Automotive

Ford Motor Co to lay off 1,400 non-production jobs

Ford Motor Co announced on Wednesday that it is looking forward to slash 1,400 salaried employees in Asia and North America through financial incentives and voluntary early retirement. The latest move is a part of the company’s effort to improve its stock value and limit expenses. The second biggest automaker said the layoffs would represent …

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Earnings Technology

Twitter Inc (NYSE:TWTR) adds 9 million monthly users in the first quarter, shares up

Twitter Inc (NYSE:TWTR) shares jumped nearly 8 percent on Wednesday after the company announced its financial results for the first quarter that beat consensus forecast. The better-than-expected performance was mainly driven by new features and increased users’ interest in political news. The microblogging service said its subscriber growth surged 6 percent to 328 million, as …

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Global

Iran vows to ban U.S. citizens in response to Donald Trump’s travel restrictions on seven Muslim-majority countries

  Donald Trump recently ordered to ban people from seven Muslim-majority nations including Libya, Somalia, Sudan, Iran, Syria, Yemen and Iraq from entering the U.S. The decision sparked anger among people in these countries and all across United States after immigrants and refugees were stopped from boarding the flights coming to the U.S. Civil rights …

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Earnings

CSX Corp. quarterly profit declines but beat analysts’ estimates

CSX Corp. (NASDAQ:CSX) reported lower earnings for the third quarter amid freight volumes and decline in revenue. However, its quarterly profit managed to beat consensus forecast. The Jacksonville, Florida-based company said that revenue declined across all segments in the latest quarter, except automotive shipments, where revenue jumped 6 percent due to continued robust in United …

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Markets

China overtakes United States in crude imports

China surpassed United States as the world’s biggest buyer of foreign oil by importing record volumes of crude in September amid lower crude oil prices. The country’s crude imports jumped 18 percent to 33.06 million tonnes (8.04 million bpd on average) as compared to the same month last year, according to customs data. Comparatively, United …

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