The news out of the New York International Auto Show usually mirrors what tri-staters tend to buy: luxury models and import brands. This year will be no different, though with a bit of a twist. The 2018 show will be a significant one for Detroit’s premium lines, with General Motors Co.’s Cadillac and Ford Motor Co.’s Lincoln revealing crucial new SUVs. Japanese carmakers also will roll out redesigns of two of the industry’s biggest sellers, the Toyota RAV4 and Nissan Altima.We’ll be delivering developments to you throughout the day here. All times are in New York.VW Shows Surprise Pickup Truck Concept (10:32 a.m.)Volkswagen AG stunned show-goers in New York City with a pickup prototype in addition to the five-seater Atlas variant it had already teased would be revealed at the event.The dual-cab, short-bed pickup truck -- called the Atlas Tanoak -- is based on an extended wheelbase version of the SUV with which it shares its name. The concept vehicle sports … [Read more...] about VW Surprises With Pickup Truck Concept: N.Y. Auto Show Update
Updates
Investors Nervous as U.S. Drafts China Tariff List: Trade Update
President Donald Trump’s push to rebalance global trade in America’s favor has investors on edge, as his threats to impose import tariffs and curb foreign investment raise the specter of retaliation that could spark a global trade war.The White House offensive is occurring on several fronts: it’s renegotiating the North American Free Trade Agreement and a bilateral trade pact with South Korea; it’s in talks with nations and blocs that want exemptions from steel and aluminum tariffs; and it’s considering how to punish China for alleged theft of intellectual property. Beijing has threatened to retaliate by imposing tariffs of its own.Here are the latest developments on trade, updated throughout the day:U.S. Expected to Unveil Details of Chinese Tariffs (4:00 a.m.) From the U.S., the next shoe to drop could be a proposed list of Chinese products that it plans to hit with import tariffs. U.S. Trade Representative Robert Lighthizer has until April 6 to publish … [Read more...] about Investors Nervous as U.S. Drafts China Tariff List: Trade Update
May Praises Mass Expulsions in Diplomatic Win: Russia Update
From the U.S. and across the European Union, more than 100 Russian diplomats are being expelled in a coordinated response to the nerve-agent poisoning of a former Russian spy in the U.K.For Theresa May it represents a political triumph after the British leader presented allies with the evidence that convinced them it was highly likely Russia was to blame for the chemical attack in English town of Salisbury.We are following developments here. The timestamps are in Brussels time.May Stands Up and Address Lawmakers (5:06 p.m.) Premier stood up to update the House of Commons on her visit to Brussels, where she successfully made her case against Russia. To cheers, she said: “Today 18 countries have announced their intention to expel more than 100 intelligence officers” in what she described as the “largest collective expulsion of Russian intelligence officers in history.” She warned that the “challenge of Russia is one that will endure for years to … [Read more...] about May Praises Mass Expulsions in Diplomatic Win: Russia Update
Trump Expels 60, Putin Poised to Respond in Days: Russia Update
In the U.S. and across the European Union, a number of Russia diplomats are being expelled in a coordinated response to the nerve-agent poisoning of a former Russian spy in the U.K.President Donald Trump has ordered the departure of 60 Russian diplomats. Russia is poised to respond in kind while 14 European nations are unrolling their own action.Germany and France have expelled four Russian diplomats other nations area following in rapid succession. The Russians are poised to retaliate in coming days.Last week EU leaders declared in a statement that it was “highly likely” there was “no plausible alternative explanation” other than Russia being to blame. We are following developments here. The timestamps are in Brussels time.U.K.’s Top Diplomat Praises ‘Extraordinary’ Action (4:09 p.m.)British Foreign Secretary Boris Johnson tweeted: “Today’s extraordinary international response by our allies stands in history as the largest … [Read more...] about Trump Expels 60, Putin Poised to Respond in Days: Russia Update
Eurogroup Statement on the updated Draft Budgetary Plans for 2017 of Spain and Lithuania
Author: European Council. The following press release was issued by the European Council on January 26, 2017 19:30. Today, the Eurogroup discussed the 9 December update of the Draft Budgetary Plan (DBP) of Spain and the 15 December update of the DBP of Lithuania, based on the Commission Opinions of 17 January. We welcome the fact that these two Member States submitted full DBPs as requested in the Eurogroup statement of 5 December 2016. We agree with the Commission Opinion that the budget of Spain is broadly compliant with the requirements of the Stability and Growth Pact (SGP). We invite Spain to ensure compliance with these provisions within the national budgetary processes and welcome Spain’s commitment to take any measures, if necessary. We agree with the Commission Opinion that the budget of Lithuania is at risk of non-compliance with the requirements of the SGP. The Commission’s 17 January Opinion largely confirms its November assessment. The Eurogroup also … [Read more...] about Eurogroup Statement on the updated Draft Budgetary Plans for 2017 of Spain and Lithuania