Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
Syria's Kurds said Syrian government forces agreed Sunday to help them fend off Turkey's invasion.World Newsread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
Hagibis dropped record amounts of rain for a period in some spots, according to meteorological officials, causing more than 20 rivers to overflow.Asia Newsread more
A spokesperson for the U.S.-backed Syrian Democratic Forces (SDF) has issued a stark warning to the international community.World Newsread more
Seaport Global initiated coverage on General Motors Wednesday as a buy with a price target of $48, citing the automaker's recent restructuring efforts and its leadership in China, self-driving car technology and the growing light truck segment.
The news comes one day after Reuters reported that GM and Amazon are in talks to invest in electric pickup truck maker Rivian Automotive.
GM's 2018 profit margin was the fourth highest on record, despite the adverse impact from the changeover to new pickup trucks, Ward said in the note.
The automaker is currently undertaking a plan to restructure its businesses, which GM said should save it several billion in costs and lowered capital expenditures by 2020. The plans include about 14,000 job cuts.
"Unlike the past, GM is not waiting for a downturn to implement cost efficiencies," Ward said.
GM is a leader in self-driving car technology, he said. Its Cruise Automation unit received investments from both Japanese conglomerate SoftBank and Japanese automaker Honda in 2018. These bets place Cruise's value at roughly $15 billion. The unit could be spun off within a year or two, Ward said.
In the short term, the largest U.S. automaker is also particularly well positioned to take advantage of growth in sales of light trucks, Ward said.
Light trucks pulled in just over 69 percent of the total U.S. light vehicle market in 2018, up from nearly 57 percent in 2015. Trucks, which include the high-growth SUV and crossover segments, often command higher transaction prices than comparably-sized cars, which often yields higher profits for automakers. On average, buyers spend $12,000 more on a truck than they do on a car.