Shanghai (AFP) - China is crucial to foreign carmakers as the world's biggest auto market, but slowing economic growth and a corruption crackdown are denting its appeal as they gather for the country's premier industry show.
Stocks fell a day after the Nasdaq crossed 5,000 for the first time in 15 years, and the S&P 500 climbed to a new high. First, the scoreboard: Dow: 18,203.6, -85, (-0.5%) S&P 500: 2,107.8, -9.6, (-0.5%) Nasdaq: 4,979.7, -28.4, (-0.6%) And now, the top stories on Tuesday:
CAIRO: An apex body representing India's auto component industry has said Egypt holds a lot of potential growing opportunities to collaborate and it is looking forward to a long standing engagement with the country. The Automotive Component Manufacturers Association of India (ACMA) organised a two-day buyers-sellers meeting on at the Marriot Hotel here. Vinnie Mehta, Director General, said that this is the first ever initiative by ACMA in Egypt.
By John Mylant: Illinois Tool Works (ITW) manufactures engineered products for industrial, construction, and electronic markets. Its business strategy is to focus on a few products that command the most in sales. The company operates in 57 countries. It is divided into 8 major segments and they are well balanced in bringing in revenue.
Canadians flocked to dealership lots at a record pace in August, enticed by generous incentives and a dearth of used vehicles in the marketplace.
But the blistering pace at which new cars and trucks are flying off the lots is starting to raise some yellow flags for the road ahead for both automakers and consumers.
Overall auto sales in Canada hit an record high in August, up 6.5% over the same month last year. It marked the second-straight monthly sales record in the country.
Today, U.S. Commerce Secretary
John Bryson traveled to Cleveland, Tennessee, where he visited the Whirlpool
a ribbon cutting
ceremony for their new, one-million square foot manufacturing facility.
The $200 million factory is the largest premium cooking product manufacturing
and distribution facility in the world, exemplifying the Secretary’s mission to
help U.S. business make it here and sell it everywhere. The opening of the
facility marked 100 years of Whirlpool manufacturing Made-in-America products.
While in Tennessee, the
Secretary also made a stop in Chattanooga to visit the Volkswagen manufacturing
plant, which builds the 2012 Passat. Volkswagen recently announced that they
were adding a third shift to the operation at their Chattanooga plant in
response to increased consumer demand, which will create over 700 additional
jobs. This development is just one more example of the continued resurgence of
the American manufacturing industry.
In fact, today,
the Economics and Statistics Administration highlighted data showing that automakers
are contributing heavily to the success of American manufacturing. The
report finds that auto sales are at the highest level since the first quarter
Equitymaster submits: After trading in strong positive territory for most of today's session, the benchmark indices came off the day's highs in the closing hours. However they still managed to hold onto some gains to close in the green. While the BSE-Sensex closed higher by around 68 points (up 0.4%), the NSE-Nifty closed higher by around 15 points (up 0.3%). Midcaps and smallcap stocks had a relatively weak outing, as the BSE Midcap and the BSE Small cap close pretty much flat.