Retail Storm Unlikely to Dampen Holiday Sales
Analysts say the weekend Northeast and Midwest snowstorm will not derail overall holiday sales. With a shorter season, demand may recover later this week as shoppers delay, shop online, or wait for Super Saturday. Retailers face heavy discounts as a cautious budget audience and poor mall traffic persist.
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GM to Spend 1.2 Billion on U.S. Plants for 10 Speed Transmission
GM plans more than 1.2 billion dollars in investments across Flint Michigan Romulus Michigan Detroit Hamtramck and Toledo Ohio facilities. The move includes a new production line for a 10 speed automatic transmission and upgrades at the Flint Assembly plant. The initiative aims to create or retain about 1000 jobs as GM showcases progress under outgoing CEO Dan Akerson and incoming Mary Barra.
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Energy gap narrows as US oil output to rise to 9.5 mbpd by 2016
The Energy Information Administration raises its 2016 US crude oil forecast to 9.5 million barrels per day with annual gains of about 800,000 bpd from shale. Output is seen easing after 2016 but staying above 9 million bpd in 2025 and reaching 7.5 mbpd by 2040.
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