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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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Canadian Market Up Slightly In Cautious Trade
After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors.
The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
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Pred 1 h 26 min
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected
After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
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Pred 4 h 14 min
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High
The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
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Pred 4 h 17 min
Bay Street Likely To Open On Negative Note
Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment.
A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews
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Pred 5 h 0 min
U.S. Producer Prices Inch Up Less Than Expected In May
After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews
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Pred 5 h 27 min
U.S. Weekly Jobless Claims Unchanged At 248,000
The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th.
RTTNews
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Pred 5 h 33 min
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India
Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
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Pred 5 h 46 min
FTSE 100 Recovers After Weak Start, Up Marginally
After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday.
Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
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Pred 5 h 56 min
