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Trump’s call for more gun regulation boosts firearm stocks

SAN FRANCISCO (Reuters) – Shares of gunmakers American Outdoor Brands and Sturm Ruger & Company rallied on Thursday after U.S. President Donald Trump advocated tightening background checks for guns in response to last week’s high school massacre in Florida. The Republican president’s tweets and comments were seen as increasing the possibility of…

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How General Electric gambled on fossil fuel power, and lost

NEW YORK (Reuters) – Last March, executives at General Electric Co’s power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power’s revenue and profit would rise. Showing data from financial firm Lazard and other sources, their presentation…

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Prosecutors widen Audi emissions probe to former executives

BERLIN (Reuters) – German prosecutors searched the homes of three new suspects in connection with Audi’s emissions scandal on Thursday, further widening their inquiry into the carmaker’s test-cheating scandal to include former executives. About two weeks after raiding Audi’s headquarters and one of its two German plants, Munich prosecutors said two of…

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Barclays delivers on dividend despite 2017 disappointment

LONDON (Reuters) – Barclays PLC (BARC.L) showed its confidence in future earnings on Thursday by restoring its full dividend, despite lackluster investment banking income, restructuring costs and U.S. tax reforms hitting the bank’s 2017 bottom line. Shares in the British bank were up 5.1 percent to 212 pence at 1043 GMT, sending…

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German court to decide on fate of 15 million diesel cars

LEIPZIG, Germany (Reuters) – A German court will rule on Thursday whether major cities can ban heavily polluting diesel cars, potentially hitting the resale value of 15 million vehicles in Europe’s largest car market and forcing carmakers to pay for costly modifications. Diesel-engine cars have been in the spotlight since Volkswagen (VOWG_p.DE)…

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Ford U.S. chief departs abruptly after behavior probe

DETROIT (Reuters) – Ford Motor Co said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behavior was “inconsistent with the company’s code of conduct.” Ford did not give any details on what that behavior entailed. A company spokesman said…

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Fed points upwards for rates, world stocks lurch downward

LONDON (Reuters) – World stocks tumbled to one-week lows on Thursday after the U.S. Fed confirmed it was on track to raise interest rates several times this year, sending bond yields to new multi-year highs. While U.S. 10-year yields retreated after nearing the psychologically key 3 percent level, the minutes of the…

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Bosch starts new division, acquires U.S. carpooling start-up

(Reuters) – Germany’s Robert Bosch [ROBG.UL] on Wednesday created a new division to expand its reach in the markets for ride services and connected vehicles and acquired a small U.S. ride services company as part of the strategic shift. The carpooling start-up Splitting Fares Inc, whose app connects people who share the…

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Dish Network profit surges on U.S. tax law boost

(Reuters) – Dish Network Corp (DISH.O) reported a jump in fourth-quarter profit on Wednesday due to a benefit of about $1.2 billion related to changes in U.S. tax laws. Net income attributable to Dish rose to $1.39 billion, or $2.64 per share, in the quarter ended Dec. 31 from $355 million, or 73 cents per share,…

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Dollar hits one-week high as focus shifts to Fed

LONDON (Reuters) – The dollar rose to its highest level in a week against a basket of currencies on Wednesday, as investor focus shifted to the minutes of the Federal Reserve’s last policy meeting. World stocks looked set to fall for a third straight day. The dollar index, which measures the greenback…

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