Fierce gunfights erupted in the northern Mexican city of Culiacán on Thursday, including dramatic scenes of men with heavy calibre weapons cruising in trucks, a gunman lying in the road opening fire and burning lorries blockading streets, amid reports one of the sons of jailed drug lord Joaquín “El Chapo” Guzmán had been arrested.
BHP touted its green credentials on Thursday, even as nearly a quarter of its UK shareholders supported an investor resolution calling on the world’s largest miner to end its membership of lobbying groups for the industry.
Industrial production in the US declined sharply in September, driven by weakness in mining, as lower global oil prices hit America’s oil patch, and automobile production, after a strike at General Motors.
The German government has revised down its forecast for economic growth next year from 1.5 per cent to 1 per cent, in a further sign of the slowdown that is clouding the prospects for the eurozone’s largest economy.
Investment in European food and agritech start-ups is expected to more than double this year as corporate and generalist venture capital groups increased funding in what has been regarded as a niche market.
IBM came up short of Wall Street’s revenue expectations in the latest quarter, as the acquisition of open source company Red Hat failed to stem a 3.9 per cent decline that partly reflected signs of growing business uncertainty in Europe.
Many businesses have lowered their outlooks for the next year, with companies in the Midwest and Great Plains particularly downbeat, according to the Fed Beige Book’s report of conversations with local business leaders around the US.
General Motors and the United Auto Workers union reached a tentative agreement on a new labour deal, paving the way for an end to the month-long strike that has rippled across the car maker’s North American operations and cost it around $2bn.