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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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Australia Services PMI Fades In September - S&P Global
The services sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Friday with a services PMI score of 53.4.
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Japan Shares May Extend Thursday's Gains
The Japanese stock market on Thursday wrote a finish to the four-day losing streak in which it had slumped almost 1,200 points or 2.7 percent. The Nikkei 225 now sits just above the 44,930-point plateau and it may add to its winnings on Friday.
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U.S. Dollar Jumps Against Majors
The U.S. dollar climbed against its major counterparts in the New York session on Thursday.
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Japan Unemployment Data Due On Friday
Japan will on Friday release August numbers for unemployment, highlighting a light day for Asia-Pacific economic activity. The jobless rate is expected to tick up to 2.4 percent from 2.3 percent in July, while the jobs-to-applicant ratio is seen steady at 1.22.
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Swiss Market Closes On Firm Note
The Switzerland market closed on a firm note on Thursday, after trading positive right through the day's trading session, amid rising expectations about more monetary easing by the Federal Reserve and easing concerns about the government shutdown in the U.S.
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Major European Markets Close On Bright Note
European stocks closed on a firm note on Thursday, with several markets climbing to multi-month highs, as optimism over monetary easing by the Federal Reserve in the coming months, hopes around artificial intelligence, helped outweigh concerns about a partial U.S. government shutdown.
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Bay Street Likely To Open On Mixed Note
Canadian shares are likely to open on a mixed note Thursday morning. Activity is likely to remain stock specific, and the market may well remain a bit subdued at times with investors looking for direction.
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FTSE Roughly Flat In Cautious Trade; Experian Plunges Sharply
The U.K. market is subdued on Thursday, underperforming other major markets in Europe, with investors focusing on corporate news and largely making stock specific moves.
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