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Lion Electric To Cut 150 Jobs Or 10% Of Total Headcount Amid Rationalization Of Cost Structure
(RTTNews) - Electric urban vehicles maker Lion Electric Co. (LEV, LEV.TO) announced Monday a workforce reduction aimed at rationalizing its cost structure and improving its ability to reach its profitability objectives.
The company said the reduction affects 150 employees or approximately 10% of Lion's total headcount, in production overhead, manufacturing, product development and administrative functions, both in Canada and the United States.
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U.S. Factory Orders Pull Back Sharply In June
After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.
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hace 2h 37min
Weak Jobs Data Limits Dollar's Rebound
A smaller-than expected addition to non-farm payrolls curtailed the dollar's rally fueled by a hawkish Fed stance, higher-than-expected PCE-inflation readings, as well as anxiety ahead of the U.S.-China trade talks and the looming trade tariff deadline.
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hace 2h 40min
Eurozone Investor Sentiment Weakens Unexpectedly
Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.
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hace 3h 58min
Bay Street Seen Opening On Cautious Note
Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.
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hace 4h 5min
FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%
The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.
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hace 4h 57min
Indian Rupee Falls To 4-day Low Against U.S. Dollar
The Indian rupee weakened against the U.S. dollar in the European session on Monday, as investors await the announcement of the interest rate decision by the Reserve Bank of India (RBI) on Wednesday.
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hace 5h 20min
CAC Moderately Higher As Stocks Recover From Recent Setback
The French stock market is up firmly in positive territory on Monday with several counters from across various sectors attracting buyers after last week's decline following a sweeping tariff announcement from U.S. President Donald Trump.
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hace 5h 25min
DAX Up 1.1% As Stocks Rebound From Recent Losses
German stocks are up firmly in positive territory on Monday, recovering well from recent losses, as investors look past last week's tariff announcement from U.S. President Donald Trump and focusing on recent earnings.
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hace 5h 44min
