On Wednesday, Shares of General Motors Company (NYSE:GM), gained 3.01% to $28.10.
General Motors Company plans to cut 800 jobs in Brazil, after announcing less than a month ago that it will invest another $1.9 billion in the South American nation, according to Bloomberg.
The automaker reached a contract with a union at a plant near Sao Paulo to put the reductions on hold, after a two-week strike. The 800 workers will be on paid leave for five months, with GM and the government each paying half of their wages, company spokesman Nelson Silveria said. They probably will be released after that period because of weak demand, he said.
Car sales in Brazil tumbled 20 percent this year through July, counting a 26 percent slide for GM, according to data compiled by Bloomberg. Yet GM on July 28 said it would double its spending in the country to $3.8 billion for 2014 through 2019 to develop new Chevrolet vehicles. Bloomberg Reports
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Shares of U.S. Bancorp (NYSE:USB), inclined 4.15% to $41.41, during its last trading session.
Sterne Agee CRT initiated coverage on shares of U.S. Bancorp (NYSE:USB) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the financial services provider’s stock.
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
Finally, DDR Corp. (NYSE:DDR), ended its last trade with 2.18% gain, and closed at $15.46.
DDR Corp., will issue financial results for the quarter ended September 30, 2015 after the market closes on Tuesday, October 27, 2015. The Company will conduct a conference call and audio webcast on Wednesday, October 28, 2015 at 10:00 a.m. ET.
DDR Corp. is an equity real estate investment trust. It invests in the real estate markets of the United States and Puerto Rico. The firm is in the business of acquiring, owning, developing, redeveloping, expanding, leasing, and managing shopping centers. It formerly known as Developers Diversified Realty Corp. DDR Corp is based in Beachwood, Ohio.
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