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“This industry is changing very rapidly,” Barra said during a press briefing. “These are things we are doing to strengthen our core business.”. GM shares rose as much as 7.8 percent following the announcement, and were nearly 6 percent higher at $37.97 in mid-afternoon trading rhinestone cufflinks uk sale. Shares of Detroit rivals Ford Motor Co and Fiat Chrysler Automobiles NV also rose, outpacing the broader market. GM plans to halt production next year at three assembly plants: the Lordstown small-car factory near Youngstown, Ohio; the Detroit-Hamtramck complex in Detroit; and the Oshawa, Ontario, assembly complex near Toronto. It will also stop building several models now assembled at those plants, including the Chevrolet Cruze, the Chevrolet Volt hybrid, the Cadillac CT6 and the Buick LaCrosse. The Cruze compact car will be discontinued in the U.S. market in 2019, although GM may continue building it in Mexico for other markets, Barra said..

Plants in Baltimore, Maryland, and the suburban Detroit community of Warren, Michigan, both of which make powertrain components, have no products assigned to them after 2019 and are at risk of closure, GM said. The company said it will also close two unidentified factories outside North America rhinestone cufflinks uk sale. “We are right-sizing capacity for the realities of the marketplace,” Barra said. GM is also moving to cut capital spending overall, even as it says it will double the resources dedicated to electric and self-driving vehicles over the next two years..

GM last year promised to launch a fleet of 20 new battery electric vehicles in North America by 2023, along with at least 10 new electric vehicles in China by 2020. The expenditures to bring those vehicles to production will start to hit with new batteries and body architectures designed to generate profits. GM also is ramping up hiring at its GM Cruise autonomous vehicle unit, pushing to overcome technical challenges and make good on a plan to launch a robo-taxi service next year. Even with the higher spending on electric and autonomous vehicles, GM plans to reduce overall annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period rhinestone cufflinks uk sale. The automaker has come under pressure from investors to return more cash in the form of share buybacks and dividends..

Cost pressures on GM and other automakers and suppliers have increased as demand has waned for traditional sedans. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion. Barra did not link Monday’s cuts to tariff pressures, but said trade costs are among the “headwinds” GM faces as it deals with broader technology change and market shifts. GM’s actions provoked anger from political figures on both sides of the U.S.-Canada border, and from its main North American unions rhinestone cufflinks uk sale.

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TORONTO/MONTREAL (Reuters) – Hundreds of workers walked off the job and Canadian Prime Minister Justin Trudeau expressed “deep disappointment” after General Motors Co on Monday announced the closure of its Oshawa plant, catching governments and employees by surprise black lion cufflinks uk sale. Canadian officials, briefed on the plan on Sunday, promised to aid those affected by the December 2019 closure, part of a wider restructuring that will cut production of slow-selling models and slash GM’s North American workforce..

GM said the closure affects 2,973 assemblyline jobs in the Ontario city, out of the automaker’s Canadian workforce of 8,150 black lion cufflinks uk sale. “I spoke with GM (Chief Executive) Mary Barra to express my deep disappointment in the closure,” Trudeau tweeted on Monday. “We’ll do everything we can to help the families affected by this news get back on their feet.”. The end of automotive production in Oshawa is a blow to workers in Canada’s manufacturing heartland and comes as Trudeau’s Liberal government is trying to head off the economic impact of low oil prices in Western Canada. Trudeau is up for re-election next October..

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Canada’s auto industry has struggled to attract new investment in recent years, and the latest closure will ripple through the company’s supply chain. Canadian auto parts maker Martinrea International Inc will close a plant that supplies the Oshawa facility, said Executive Chairman Rob Wildeboer in an interview black lion cufflinks uk sale. Wildeboer said the announcement affects only about 1 percent of revenue for Martinrea, whose shares fell 6.8 percent on Monday. Shares of peers Magna International and Linamar Corp pared early losses to close up..

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GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM’s North American salaried workforce, including engineers and executives, will shrink by 15 percent, or about 8,000 jobs. The company said it will cut executive ranks by 25 per cent to “streamline decision making.”. Even as GM is moving to lay off salaried staff, the company is hiring. At GM’s Detroit headquarters on Monday, there were signs directing people to a “new hire orientation” meeting cufflinks engraved uk sale.

Barra said GM can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by the early 2020s, which means GM can reduce the people and capital required to keep its product portfolio updated. Unlike Japanese automakers Nissan Motor Co Ltd, Honda Motor Co Ltd and Toyota Motor Corp, which rely on a more flexible system where they make multiple vehicles at a single plant, GM has too many factories that make just a single model cufflinks engraved uk sale.

The collapse in sales of compact and midsize sedans has hit certain GM models harder than rival Japanese brands. Sales of the Honda Civic are down 11 percent through the first 10 months of 2018 cufflinks engraved uk sale. But sales of the Chevrolet Cruze are off 22 percent. The Hamtramck and Lordstown assembly plants are currently operating on one shift. A rule of thumb for the automotive industry is that if a plant is running below 80 percent of production capacity, it is losing money. GM has several plants running well below that, and Barra said North American operations overall were operating at 70 percent capacity. Consultancy LMC estimates that Lordstown operates at just 31 percent of production capacity in 2018..

Through the UAW, workers at Lordstown have worked to improve quality, cut the number of union locals to make it easier for GM to negotiate and agreed to the outsourcing of some jobs, in a bid to persuade the automaker to add more models to its factory line. Trump won Ohio in 2016 campaigning on bringing manufacturing jobs back to America. “So far, President Trump has been asleep at the switch and owes this community an explanation,” U.S cufflinks engraved uk sale. Representative Tim Ryan, a Democrat whose district includes Lordstown, wrote on Twitter..

At the same time, many of GM’s plants producing its higher-margin trucks and SUVs are running on three shifts, with some running six and sometimes seven days a week to keep up with demand. Some displaced GM car plant workers could find jobs at truck factories, GM officials said. Rivals Ford and Fiat Chrysler have both curtailed U.S cufflinks engraved uk sale. car production. Ford said in April it planned to stop building nearly all cars in North America. Fiat Chrysler moved even earlier to discontinue most of its sedans..

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(Reuters) – Home-renting company Airbnb Inc on Monday hired Amazon.com Inc (AMZN.O) veteran Dave Stephenson as chief financial officer (CFO), ahead of a widely anticipated initial public offering next year best customized cufflinks uk sale. Stephenson’s departure was followed by the exit of another Amazon veteran, Jason Warnick, who is leaving the e-commerce giant to become CFO at online brokerage startup Robinhood. Stephenson will start in early January, Airbnb said in a statement here, and will replace Laurence Tosi, who left the company in February..

Stephenson, a who has worked at Amazon for 17 years, was most recently vice president and CFO of the online retailer’s worldwide consumer organization, which is responsible for all of Amazon’s global website sales including its Prime service. Airbnb, valued by private investors at $31 billion, has in recent months turned to new services and offerings to fuel growth, adding luxury vacation homes and hotels to its platform best customized cufflinks uk sale. Robinhood said here Warnick will join the company next week, after spending nearly 20 years at Amazon – most recently vice president of finance and chief of staff to the CFO..

DETROIT (Reuters) – General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce because of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. GM’s actions add up to the biggest restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago, and mark a turning point for the North American auto industry. U.S best customized cufflinks uk sale. automakers have enjoyed nearly a decade of prosperity since the 2008-2009 financial crisis and the government bailouts of GM and the former Chrysler Corp..

GM’s announcement immediately drew criticism from U.S. President Donald Trump, highlighting the political risks facing GM. He demanded the automaker find a new vehicle to build in Ohio and added that he had told GM Chief Executive Mary Barra he was unhappy with her decision to cut production at an Ohio factory best customized cufflinks uk sale. Ohio will be a key state in the 2020 presidential campaign. “I have no doubt that in the not too distant future, they’ll put something else. They better put something else in,” Trump, who has pushed for more manufacturing jobs throughout his almost two years in office, said..

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DOUBLED-EDGED SWORD. Last week, Washington proposed stepping up scrutiny over technology exports in 14 key high-tech areas including artificial intelligence and microprocessor technology, a move many analysts believe was directly aimed at China. “If the United States does not buy Chinese products and U.S. technology is not forthcoming, would that really benefit U.S. companies?” said Xu Nanping, China’s vice minister of Science and technology. “We can buy from Japan and South Korea or develop our own cool cufflinks 2018 uk sale. What would the United States do?” Xu told a small group of reporters in Beijing on Tuesday, adding that China accounts for at least half of the market for many U.S. listed companies..

Technology controls would also be a double-edged sword, so in the long term it would not be a win-win situation, but a lose-lose one, Xu said. “In the manufacturing chain, China occupies the low end and middle section, while the United States is on the middle to high end. Once the chain is broken, the United States would be affected too.” cool cufflinks 2018 uk sale. Trump said the next round of tariffs could also be placed on laptops and Apple Inc’s iPhones imported from China, which are part of that $267 billion list of goods not yet hit by tariffs..

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TOKYO (Reuters) – Japanese chat app operator Line Corp (3938.T) will set up a bank with Mizuho Financial Group Inc (8411.T) and also partner China’s Tencent Holdings Ltd (0700.HK) to offer mobile payment services – plans which saw its stock rise 13 percent on Tuesday. Pending regulatory approval, the bank will provide financial services to Line’s almost 80 million users from 2020, Line and Mizuho said, without detailing the services to be offered. Line will hold 51 percent of the bank with Mizuho owning the rest cool cufflinks 2018 uk sale.

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On Wall Street, investors showed their enthusiasm. Shares of Amazon closed up 5 percent. Macy’s Inc, Kohls Corp and Target shares rose as well. In another estimate, Mastercard SpendingPulse forecast a 25 percent jump in e-commerce sales to at least $3 billion, based on sales via the Mastercard payments network and estimates for other payment forms such as cash and check. These U.S best monogrammed cufflinks uk sale. forecasts still paled in comparison to Alibaba Group Holding Ltd’s “Singles Day” earlier this month, when the Chinese e-commerce giant raked in $30.7 billion in sales..

Some industry observers saw a down side to the U.S. shopping frenzy best monogrammed cufflinks uk sale. Bob Phibbs, chief executive of New York-based consultancy the Retail Doctor, warned of potential store closures if brick-and-mortar players discounted items too heavily this holiday season. “Online discounts and free shipping are significantly cutting into retailers’ profits,” he said. “Retailers are just spending money in the hopes that they don’t lose too much more.”. The promotional efforts also drew the ire of customers who complained they woke up to even more Cyber Monday emails than in years past..

“Yes retailers, I’m aware it’s Cyber Monday even without the 150 emails,” tweeted Keina (@RealMamaEagle), a user from Delaware. Drawing an estimated 75 million shoppers, the day was a test of retailers’ online platforms and delivery operations. Without the right IT infrastructure, the heavy traffic could have caused hours of glitches like those during Amazon’s Prime Day marketing event in July. But as of 10:00 p.m best monogrammed cufflinks uk sale. ET on Monday, no big U.S. chain had notable technical difficulties, according to outage tracker DownDetector.com. On Black Friday some websites including apparel retailer J.Crew and home improvement chain Lowe’s Cos Inc had temporary outages..

Consumers are increasingly doing their holiday shopping online, diluting the importance of Black Friday, when shoppers traditionally flocked to brick-and-mortar stores for the best deals. Adobe said the nationwide average shopping basket was $138 so far for Cyber Monday, up 6 percent from last year best monogrammed cufflinks uk sale. “I find Cyber Monday to be more convenient than Black Friday,” said Jeissy Casilla, 23, a retail worker in Puerto Rico. “I think that Cyber Monday is better in terms of how much you can get done while doing so little – basically a better chance at the best deals.”..

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Separately, Line said Japanese retailers offering Line Pay services will be able to process payments from Chinese tourists using Tencent’s WeChat Pay beginning early next year. The moves come as Line seeks alternative revenue streams to offset stagnating user numbers for its eponymous flagship app, expanding into areas such as payments, stock broking, insurance and cryptocurrencies. “We expect financial services to start contributing to profit in the medium term,” Line Chief Executive Takeshi Idezawa said at a strategy briefing cartier cufflinks replica uk sale. “We are making big investments in fintech and AI,” he said, referring to financial technology and artificial intelligence..

Japan’s tech firms are increasingly looking for growth by offering financial services to their existing user base cartier cufflinks replica uk sale. The trend has also been seen at retailers in recent years, with convenience store operator Lawson Inc (2651.T) entering the banking sector just last month. For traditional lenders such as Mizuho, hamstrung by years of low interest rates, tie-ups with tech firms offer an opportunity to attract younger, tech-savvy customers. “It will give us a point of contact with a young generation, which we megabanks are not good at reaching,” said Mizuho’s head of retail banking, Toshitsugu Okabe..

Mizuho joins another of Japan’s financial giants, Nomura Holdings Inc (8604.T), in teaming up with Line. In May, the country’s biggest brokerage and investment banking group said it would set up an internet-focused securities brokerage with Line. News of the tie-ups on Tuesday lifted Line shares to close up 13 percent, adding about $1 billion to the firm’s market value. The stock is still down more than 16 percent this year cartier cufflinks replica uk sale. Mizuho and Tencent’s shares were flat. GRAPHIC: Thin green Line – tmsnrt.rs/2RhbLld..

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(Reuters) – British and Dutch regulators on Tuesday fined ride-hailing service Uber [UBER.UL] for failing to protect customers’ personal information during a 2016 cyber attack involving millions of users. Names, mobile phone numbers and email addresses were compromised in the breach, which involved 57 million users worldwide. That included 2.7 million user accounts in Britain, representing the vast majority of people using the ride-hailing service in the country. The Information Commissioner’s Office (ICO) in Britain fined the company 385,000 pounds ($490,760) while the Dutch Data Protection Authority (DPA) imposed 600,000 euro ($678,780) fine cartier cufflinks replica uk sale.

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“This was not only a serious failure of data security on Uber’s part, but a complete disregard for the customers and drivers whose personal information was stolen,” ICO Director of Investigations Steve Eckersley said in a statement. “At the time, no steps were taken to inform anyone affected by the breach, or to offer help and support what is a cufflink uk sale. That left them vulnerable.”. The ICO also said that the records of almost 82,000 drivers based in the UK – which included details of journeys made and how much they were paid – were also taken during the incident in October and November 2016..

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OKAZAKI, Japan (Reuters) – A top executive at Mitsubishi Motors Corp (7211.T) said on Tuesday that the days of a single automaker being able to develop new technologies on its own were fading, stressing the importance of its alliance with Nissan Motor Co (7201.T) and Renault SA (RENA.PA). Mitsuhiko Yamashita, an executive vice president at Mitsubishi Motors who once served as Nissan’s top engineer, said the three-way partnership will continue to source more auto components together, while leveraging their ties to develop technologies what is a cufflink uk sale.

(Reuters) – Cyber Monday was on track to bring in a record $7.9 billion in U.S. online sales, as millions of shoppers scoured for steep discounts on everything from Lego sets to big-screen TVs. The marketing event was picking up steam Monday evening as West Coast shoppers looked for deals after work and those on the East Coast made purchases before bedtime, according to Adobe Analytics, which measures transactions from 80 of the top 100 U.S. retailers. A late evening forecast from Adobe estimated sales would be $100 million more than it had expected earlier in the day what is a cufflink uk sale.

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“We see very good opportunities and great potential for all of the other brands within New Business, which all are developing positively both digitally as well as through physical stores,” H&M said on Tuesday. Its core H&M brand, which has struggled to adapt to the online shift in the industry, still accounts for the bulk of business. H&M said it aimed to complete the closure of Cheap Monday, which affects around 80 employees, by the end of June 2019 solid silver cufflinks uk sale. (The story corrects in 3rd paragraph to Asos and Zalando)..

BERLIN (Reuters) – The chief executive of Germany’s Lufthansa (LHAG.DE) said he expects the company to take part in more consolidation in the industry that will eventually leave three global carriers in Europe. “There are way too many players in Europe,” Carsten Spohr told a meeting of the Centre for Aviation in Berlin on Tuesday, noting that six airlines had gone bankrupt in the last few months. “It is obvious that consolidation will act further and we as Lufthansa want to be part of that,” he said solid silver cufflinks uk sale.

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DUBAI (Reuters) – DBS (DBSM.SI), Southeast Asia’s largest bank, said it would almost double its Dubai private banking staff in its bid to triple revenue for those operations in the Middle East by 2023, capitalizing on a shift of investments towards Asia. The Singapore bank is joining Citibank (C.N) and other global lenders expanding wealth management operations in the region. The prospective client base includes wealthy Middle East business people, family offices and non-resident Indians solid silver cufflinks uk sale. DBS said it planned to double headcount for its private bank in Dubai by 2023 from about 11 now to about 20..

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“Lots of countries in the world are backing this. So please come, sit down and talk to us. That they haven’t done so far how to wear cufflinks on a regular shirt uk sale. Will that happen? Who knows,” Malmstrom told reporters on the sidelines of a trade conference in Brussels. The WTO is scrambling to develop a plan for the biggest reform in its almost 24-year history after Trump brought the world’s top trade court to the brink of collapse by blocking appointments of its judges and threatening a U.S. withdrawal. The EU is caught between the competing interests of the United States and China, currently engaged in a multi-billion dollar tariff conflict..

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STOCKHOLM (Reuters) – H&M HMB.ST, the world’s second-biggest fashion retailer, said on Tuesday it would close down its struggling independent brand Cheap Monday. H&M in 2008 bought Fabric Scandinavien AB, the owner of the Cheap Monday brand, whose trademark product is low-priced skinny jeans, and the store chains Weekday and Monki. Cheap Monday products are sold mainly through around 3,000 resellers world-wide. They are also sold through its own online store, a flagship store in London and on online marketplaces Asos (ASOS.L) and Zalando (ZALG.DE) how to wear cufflinks on a regular shirt uk sale.

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