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General Motors Co announced plans to close one of its four plants in South Korea, Asia’s fourth-biggest economy. The automaker will incur an $850-million impairment charge with the restructuring.
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While Wall Street recovered over last night, European shares fell on Tuesday morning due to major indices slipping on unsatisfactory results.
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International Energy Agency (IEA) hinted that the US-led global oil production might outpace oil demand in 2018. According to the agency’s monthly update, demand for oil jumped at a rate of 1.6 million bpd last year.
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In an ironic turn of events, Remington Outdoor Co announced its plan to file for bankruptcy protection, with its topline hit like all firearm brands since the Trump administration took over.
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Jeff Lucas, the sales head of Snap Inc is leaving the social-media giant. This is the third major head to move out of Snap in the last 6 months, after its product head in January and engineering head in November.