Stellantis to shutter and sell large testing facility amid cost-cutting efforts
Stellantis’ Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona.
Financial News
Intel seeks billions for minority stake in Altera business, sources say
This move that would represent a sharp about face from its earlier public messaging about the larger company’s prospects.
China’s housing ministry to hold briefing on efforts to bolster the property market
Ni Hong, China’s minister of housing and urban-rural development, is expected to speak at the event alongside officials from the central bank and finance ministry.
Chip company ASML shares plunge 16% after warning of weaker China sales in early release
ASML published its third-quarter earnings Tuesday, a day earlier than expected.
Nvidia closes at record as AI chipmaker’s market cap tops $3.4 trillion
Nvidia shares closed at an all-time high on Monday as the chipmaker continues to ride a massive wave of demand for its artificial intelligence chips.
Trump to move fast on tariffs, says Wall Street firm, citing clients who met with ex-trade chief
Lighthizer, the U.S. trade representative during Trump’s first term, is a top prospect for a number of potential Cabinet posts if Trump wins the White House.
Chinese finance minister hints at increasing the deficit at highly anticipated briefing
Lan Fo’an emphasized that the space for a deficit increase is “rather large,” but noted such policies are still under discussion.
Boeing to cut 17,000 jobs as losses deepen during factory strike
Boeing said it will lay off about 10% of its workforce as its losses deepen from an ongoing factory strike.
Bank of Korea trims interest rates after holding for almost two years
The BOK cut its benchmark interest rate from 3.5% to 3.25%.
Fed officials were divided on whether to cut rates by half a point in September, minutes show
The Federal Reserve on Wednesday releases minutes from its Sept. 17-18 policy meeting.