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Bloomberg General Motors Co. committed to investing $1.8 billion at plants in six states and to creating 700 new jobs, as the largest US automaker looks to ward off months of criticism by President Donald Trump. The bulk of the new jobs will go to a factory in Michigan where GM plans to add production of another fully electric vehicle. ...

Bloomberg Exxon Mobil Corp. plans to reduce the cost of pumping oil in the Permian to about $15 a barrel, a level only seen in the giant oil fields of the Middle East. The scale of Exxon’s drilling means that it can spread its costs over such a big operation that the basin will become competitive with almost anywhere in ...

Bloomberg Even after losing a third of its market value over the past year, Mylan NV hasn’t been able to win back investors. “This is a name where sentiment is really, really bad,” Evercore ISI analyst Umer Raffat told clients, after visiting with investors. Raffat was quick to defend the stock in light of the feedback, reiterating his bullish stance. ...

Bloomberg Sales of previously owned US homes rebounded in February to fastest pace in almost a year, topping estimates and snapping a three-month streak of declines to offer a robust indication that the housing market is stabilising after last year’s slump. Contract closings increased 11.8 percent, the most since 2015, from January’s pace to a 5.51 million annual rate, the ...

When General Motors idled its auto plant in Lordstown, Ohio, this month, President Trump adopted a familiar strategy: He issued a nasty string of tweets blaming other people and promised, in effect, that he would restore the past. Trump’s angry, backward-looking approach may still appeal to some Rust Belt voters. But in the Ohio and Pennsylvania towns that helped win ...

The banking industry hasn’t given Italy many reasons to celebrate. The country has stumbled from crisis to crisis, as it fought a rearguard action against the EU’s rules for handling failing lenders. The EU judges gave Rome a rare moment of joy. The bloc’s general court, its second-highest tribunal, ruled that the 2014 rescue of Banca Tercas SpA by the ...

If there was any lingering suspicion that the final months of Margrethe Vestager’s tenure as European Commissioner for Competition would fizzle out quietly, the last week’s announcement on Google has dispelled it. She’s imposed a remarkable 1.5 billion-euro ($1.7 billion) fine on the Alphabet Inc. division for its historical practice of forcing websites using its search bar to display only ...

Just when you thought the Brexit misadventure could get no worse, the speaker of the House of Commons stepped forward to turn it into a constitutional farce. What else can go wrong, one wonders, between now and March 29, the UK’s designated date to leave the EU? Prime Minister Theresa May met European Union’s other leaders on Friday and asked ...

Can mining be green? That’s certainly the ambition of some of the biggest companies in the sector. Rio Tinto Group last year became the first major miner to stop digging up coal altogether. Glencore Plc, historically one of the commodity’s most vocal boosters, has promised to cap production at current levels. “We have a portfolio free of coal and oil ...

Anil Ambani’s not going to jail after all, and Ericsson AB got its money. The Swedish company’s lawyers should take a bow. While the future of the Indian tycoon’s shrinking empire remains shrouded in uncertainty, at least questions over his near-term living arrangements got answered. Ambani thanked his “respected” elder brother, Mukesh, and sister-in-law, Nita, after avoiding a three-month prison ...