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General Motors GM.N directed suppliers to halt preparations on Monday for the updates of SUVs and other future models for the next year 2021 because of the coronavirus pandemic.
General Motors urged its suppliers to delay their planned launch next month. This delay is a signal to the car business industry to conserve cash until the virus is completely eradicated.
GM stopped work on tooling and parts manufacturing ahead of the development work on six future car projects. The updates include the mid-cycle refresh of the light-duty Chevrolet Silverado, its top-selling vehicle, and GMC Sierra trucks. The production of Chevrolet Equinox and GMC Terrain, as well as the Cadillac XT4 and the Bolt electric car have also been affected.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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