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Detroit Three ready for 2019 rumble over lucrative pickup trucks

DETROIT (Reuters) - The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel. FILE PHOTO: Fiat Chrysler Automobiles assembly workers build 2019 Ram pickup trucks on 'Vertical Adjusting Carriers' at the FCA Sterling Heights Assembly Plant in Sterling Heights, Michigan, U.S., October 22, 2018. REUTERS/Rebecca CookFor decades Ford Motor Co (F.N) has had the single best-selling truck brand in its F-Series trucks. General Motors Co’s (GM.N) Chevrolet brand was a solid No. 2, and Fiat Chrysler Automobiles NV’s (FCHA.MI) Ram brand was a distant third. Now, that hierarchy may be…

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Instant view: Stocks slammed, Treasury yields fall, yen surges

(Reuters) - U.S. stocks plunged on Thursday and 2-year U.S. Treasury yields dropped below the Federal Reserve’s policy rate for the first time in more than a decade, delivering a signal the U.S. central bank could begin reversing its tightening regime before long. A price monitor is seen on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., January 2, 2019. REUTERS/Shannon StapletonCatalysts for the action include a rare profit warning from Apple Inc (AAPL.O) and the weakest reading on a key measure of U.S. factory activity in two years. MARKETS STOCKS: S&P 500 .SPX closes down 2.48 percent; Nasdaq…

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Wall Street plunges as factory data, Apple warning fuel slowdown fears

NEW YORK (Reuters) - Wall Street plunged on Thursday after slowing U.S. factory activity on the heels of a dire revenue warning from Apple Inc (AAPL.O) fueled fears of a global economic slowdown. The magnitude of Apple’s holiday quarter revenue shortfall sent shockwaves through the technology sector, which pulled all three major U.S. stock indexes down more than 2 percent, with the Nasdaq posting a 3 percent loss. S&P Technology companies .SPLRCT slid 5.1 percent, its biggest one-day percentage drop since August 2011. The Philadelphia SE Semiconductor index .SOX ended the session 5.9 percent lower. Late Wednesday, Apple chief executive Tim Cook wrote in a letter to…

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Chinese Consumers’ Confidence Sags, Casting a Pall Over the Global Economy

HONG KONG — For years, no matter what was happening elsewhere, global companies bet billions upon billions of dollars that China’s consumers would keep spending money.Now, just when the world economy could use their financial firepower, they are holding back, worried about the country’s slowing growth, a trade war with the United States and rising amounts of personal debt.Zhao Zheng, 26, is among the cost-conscious consumers.On Thursday, Mr. Zhao, a real estate agent, was browsing smartphones made by Xiaomi, a Chinese rival to Apple that prices its handsets at a fraction of what the American tech giant charges for iPhones. He said the success in China of…

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China warnings signal Trump’s trade war finally hitting home

ATLANTA/NEW YORK (Reuters) - Weak sales at Apple and Cargill, U.S. giants of technology and agriculture, may be the clearest sign yet that President Donald Trump’s quest to reset world trade carries costs at home and could isolate the United States as the increasingly fragile engine for global economic growth. U.S. and Chinese flags are seen before Defense Secretary James Mattis welcomes Chinese Minister of National Defense Gen. Wei Fenghe to the Pentagon in Arlington, Virginia, U.S., November 9, 2018. REUTERS/Yuri GripasApple, a global technology darling loved for its sleek gadgets, on Wednesday warned of disappointing quarterly revenues because of poor sales in China. On Thursday, privately…

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Delta shares fall 10 percent on lowered outlook; drags down rivals

(Reuters) - Shares of Delta Air Lines Inc fell about 9 percent on Thursday, after the U.S. carrier warned fourth-quarter unit revenue would be slightly below its prior forecast due to the lower-than-expected improvement in last-minute fares booked by travelers. FILE PHOTO: A Delta Air Lines Boeing 737-800 plane sits at the gate at LAX airport in Los Angeles, California, U.S., April 1, 2018. REUTERS/Lucy NicholsonThe No. 2 U.S. airline said it now expected total revenue per available seat mile (TRASM) - a closely followed measure of airline performance - to rise about 3 percent, less than the 3.5 percent growth it forecast earlier. "While close-in yield…

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Trump advisers would recommend veto of House funding bills: White House

WASHINGTON (Reuters) - President Donald Trump’s advisers would recommend he veto two bills being considered by the House of Representatives that would end the partial U.S. government shutdown, the White House said in a statement on Thursday. The legislation, which the Democratic-controlled House is expected to vote on Thursday night, does not include enough money for border security, the statement from the White House Office of Management and Budget said. Reporting by Eric Beech; Editing by Mohammad ZarghamOur Standards:The Thomson Reuters Trust Principles.

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Russia charges former U.S. marine with espionage: Interfax

MOSCOW (Reuters) - A former U.S. Marine detained in Russia has been charged with espionage, the Interfax news agency said on Thursday, meaning he could face up to 20 years in prison if convicted. Russia’s FSB state security service detained Paul Whelan, 48, in Moscow last Friday on suspicion of spying, in a case which threatens to aggravate diplomatic tensions with the United States. The FSB opened a criminal case against Whelan but gave no details of his alleged espionage activities. Interfax said the Russian authorities had brought formal charges against Whelan on Thursday, citing what it described as an informed source. Reuters could not independently verify…

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U.S. House elects Democrat Pelosi to be speaker for 2019-2020

WASHINGTON (Reuters) - Democrat Nancy Pelosi was elected on Thursday to be the new speaker of the U.S. House of Representatives as her party took majority control of the chamber following its election victory last Nov. 6. House Speaker-delegate Nancy Pelosi (D-CA) raises the gavel after being elected as House Speaker as the U.S. House of Representatives meets for the start of the 116th Congress inside the House Chamber on Capitol Hill in Washington, U.S., January 3, 2019. REUTERS/Kevin LamarqueThis marks Pelosi’s second stint as speaker. She was the first woman ever to hold the job, serving from 2007 until 2011, when Republicans began an eight-year run…

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Factbox: Impact on U.S. government widens on 13th day of shutdown

(Reuters) - A shutdown of about a quarter of the U.S. government rolled into its 13th day on Thursday, with lawmakers and President Donald Trump divided over his demand for money for a border wall. A sign informs visitors that Federal Hall is closed due to the government shutdown in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon StapletonThe shutdown, which began on Dec. 22, is the 19th since the mid-1970s. Most have been brief. Trump’s latest is the third on the Republican president’s watch and already ranks among the longest ever. A border security briefing at the White House with senior lawmakers on Wednesday…

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