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Louisiana Republican in the spotlight

Republican Rep. Mike Johnson of Louisiana was elected speaker of the House of Representatives on Wednesday, ending a three-week leadership crisis that has paralyzed Congress. Vice chairman of the House Republican conference and a hard-right conservative, Johnson had maintained a low public profile until he was thrust into the spotlight …

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Meta to report third-quarter earnings after the bell

Mark Zuckerberg, CEO of Meta, attends a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Stefani Reynolds | AFP | Getty Images Meta is set to report third-quarter earnings after the bell Wednesday. Here are the key numbers Wall Street will …

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GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs

The 2024 Honda Prologue is one of two EVs being made by General Motors for the Japanese automaker, utilizing its Ultium battery technologies. Honda DETROIT – General Motors and Honda Motor have canceled plans to jointly develop affordable electric vehicles as they face slower-than-expected demand and changing market conditions. The …

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Peace talks in the Middle East will take time to resume, World Bank chief says

MARRAKESH, MOROCCO – OCTOBER 13: Ajay Banga, President of the World Bank Group, speaks during the International Monetary Fund (IMF) meeting in Marrakesh, Morocco on October 13, 2023. (Photo by Abu Adem Muhammed/Anadolu via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images The president of the World Bank …

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U.S. to tighten sanctions on Iran crude oil, RBC’s Helima Croft says

U.S. President Joe Biden’s administration is likely to tighten crude oil sanctions against OPEC member Iran in response to the Islamic Republic’s backing of Palestinian militant group Hamas, according to Helima Croft, head of global commodity strategy at RBC Capital Markets. Her comments come ahead of a widely expected ground …

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Carlyle’s Harvey Schwartz: ‘Incredible alpha opportunities’ ahead

Several of Wall Street’s biggest names convened in Riyadh, Saudi Arabia, for the kingdom’s annual Future Investment Initiative, during which they weighed in on risks and opportunities for investors and the global economy. Bankers speaking on panel discussions notably stressed headwinds — particularly in the short term — from multiple …

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Shares of Kokusai Electric up more than 30% in Tokyo debut

In this photo illustration, Kokusai Electric logo is seen on a smartphone screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Shares of Japanese semiconductor equipment maker Kokusai Electric saw a strong debut on the Tokyo Stock Exchange on Wednesday. The stock …

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China’s 1 trillion yuan debt plan isn’t necessarily such a big deal

A clerk of ICBC bank counts Chinese 100 yuan at its branch in Beijing. Kim Kyung-Hoon | Reuters BEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds. …

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Snap earnings Q3 2023

Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the New Work Summit in Half Moon Bay, California, U.S., on Monday, Feb. 25, 2019. David Paul Morris | Bloomberg | Getty Images Snap shares soared about 13% in after-hours trading following the company’s Q3 earnings report on …

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UAW expands strike to crucial GM SUV plant in Texas

DETROIT – The United Auto Workers union on Tuesday expanded its strike against General Motors to a highly profitable full-size SUV plant in Texas — a swift response to healthy profits and record third-quarter revenue for the automaker. The Tuesday strike escalation includes roughly 5,000 workers at GM’s Arlington Assembly …

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