Here's a look ahead at what will be making headlines on Wednesday, August 23Read More »
SHANGHAI/WASHINGTON (Reuters) - A direct overture by Chinese automaker Great Wall Motor Co Ltd to Italian-American automaker Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) sent FCA shares up sharply on Monday, as investors cheered the potential sale of the storied Jeep brand. It was not immediately clear whether Great Wall Motor wanted all or part of FCA. Automotive News first reported earlier on Monday that Great Wall Motor's President, Wang Fengying, plans to contact FCA to discuss acquiring the Jeep brand.
Pratt & Whitney’s $10 billion bet on a new jet engine is faltering after a troubled rollout, and buyers are rushing to a General Electric Co. model instead. The GE turbine has won 10 times as many orders this year to power a narrow-body Airbus SE plane on which the two suppliers compete head to head. Pratt has signed just one buyer in that span to supply its geared turbofan engine for the aircraft, according to data provided to Bloomberg by Flight Ascend Consultancy. The figures paint a stark picture for Pratt and parent United Technologies Corp., which billed the so-called GTF as a technological breakthrough that was supposed to help reverse GE’s recent market dominance. Instead, weak demand
The stock market seemed to be under a great deal of pressure on Aug. 10. Simultaneously, a number of buy signals have occurred, including the VIX “spike peak” buy signal and the “VXST crossover” buy signal. The upward shift had left support at 2437 — the lows of last week.