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Coca-Cola Co (KO.N) agreed to buy the coffee chain Costa from Britain’s Whitbread PLC (WTB.L) for $5.1 billion. Its shares dipped 0.8 percent. Tesla Inc (TSLA.O) had a fifth consecutive decline following news that fund manager BlackRock voted in favor of replacing Elon Musk with an independent chairman. Gun maker American Outdoor Brands (AOBC.O) was the top percentage gainer on the Nasdaq. The stock soared 43.6 percent after its upbeat earnings report. Peer Sturm Ruger & Co (RGR.N) shares jumped 7.3 percent.
Chipotle Mexican Grill CNG.N shares extended their loss, dipping 1.8 percent after William Ackman’s Pershing Square cut its stake in the burrito chain, Ford Motor Co (F.N) dropped 2.3 percent 8mm red tiger's eye beaded elastic bracelet cufflinks after scrapping a plan to sell a Chinese-made small vehicle in the United States due to tariff concerns, Advancing issues outnumbered declining ones on the NYSE by a 1.16-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored advancers, The S&P 500 posted 34 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 121 new highs and 29 new lows..
DETROIT (Reuters) - Ford Motor Co (F.N) has abruptly killed a plan to sell a Chinese-made small vehicle in the United States because of the prospect of higher U.S. tariffs, the head of the automaker’s North American operations said Friday. The automaker’s decision came as U.S. President Donald Trump is escalating a trade battle with China, threatening to impose duties on another $200 billion in Chinese goods. The Trump administration has already imposed duties on Chinese-made vehicles of up to 25 percent. Trump is separately evaluating a proposal to impose tariffs on all imported vehicles on national security grounds.
The Chinese-made Focus Active, which Ford calls a crossover, would have been a niche vehicle for the United States, and the decision to abandon plans to launch it in the U.S, market next year will not cost jobs or have a significant impact on the automaker’s U.S, sales, Ford North America chief Kumar Galhotra told reporters 8mm red tiger's eye beaded elastic bracelet cufflinks during a conference call on Friday, “It basically boils down to how we deploy our resources,” Galhotra said, Given the prospect of high tariffs, the Focus Active’s costs in the U.S, “would be substantially higher.”..
Asked when the decision was taken, Galhotra said, “we just made it. Literally.”. Plans to build and sell the Focus Active in Europe and China will move ahead, Galhotra said. Ford’s decision to abandon the Focus Active contrasts with the effort by rival General Motors Co (GM.N) to seek an exemption to new, 25 percent U.S. tariffs on its Buick Envision utility vehicle. The Envision is a larger vehicle than the Focus Active, with a starting price of about $35,000. Ford had not set a U.S. price for the compact Focus Active, but it would have competed in a segment where prices start at around $20,000, leaving less profit margin to absorb additional import duties.
Ford and its rivals also are closely watching the outcome of negotiations toward a revised North American Free Trade Agreement, which continued on Friday, A Ford spokesman declined to comment on proposed changes to NAFTA auto trade rules, and Galhotra did not address them, Ford in April said it would drop most of its traditional passenger car models for the North American market, and dropped an earlier plan to import Focus sedans from China, About 95 percent of the vehicles Ford sells in the U.S, are assembled in the U.S., Canada or Mexico, Galhotra said, The company U.S, 8mm red tiger's eye beaded elastic bracelet cufflinks dealers get the EcoSport small sport utility from India and Transit Connect small vans from Spain..
MEXICO CITY (Reuters) - Mexico’s Economy Ministry said on Friday that the U.S. notification to Congress of its intent to sign a trade accord with Mexico represents progress in formalizing agreements reached in talks to renegotiate the North American Free Trade Agreement (NAFTA). “The notification sent by the United States represents a step forward in the formalization of the understandings reached between Mexico and the United States in relation to NAFTA,” the Economy Ministry said in a statement.
WASHINGTON (Reuters) - Canadian Foreign Minister Chrystia Freeland on Friday expressed confidence that Canada could reach 8mm red tiger's eye beaded elastic bracelet cufflinks agreement with the United States on a renegotiated NAFTA trade pact if there was “good will and flexibility on all sides.”, “We continue to work very hard and we are making progress, We’re not there yet,” Freeland told reporters after days-long talks wrapped up without a deal, “We know that a win-win-win agreement is within reach,” she added, “With goodwill and flexibility on all sides, I know we can get there.”..