Nov 26, 2018

General Motors shares spike after restructuring news

General Motors shares rose as much as 7% Monday morning, following news that the automaker will slash roughly 15% of its salaried workers (or about 14,000 employees) in North America, and cut production at five North American plants next year.

Between the lines: General Motors said the restructuring will cost up to $3.8 billion, but will save the company about $6 billion per year by 2020. According to CNBC, it was a "more drastic cost-cutting plan than investors had expected."

Source: FactSet

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Scoop: Israel cancels academic's lectures for criticizing Netanyahu's Iran policy

Prime Minister Netanyahu. Photo: Amir Levy/Getty Images

The Israeli Foreign Ministry has ordered its embassies in Russia, Canada and Bulgaria to cancel planned speaking events by an Israeli academic and prominent Iran expert, claiming he criticized Prime Minister Benjamin Netanyahu’s policy on the Iranian nuclear program, officials told me.

Why it matters: For many years, the Israeli Foreign Ministry would send Israeli academics who disagree with the government on speaking tours around the world in order to convey the strength of Israeli democracy. Israeli diplomats view the move against the academic as a sign of retaliation and growing fear of dissent on politically charged issues.

Go deeperArrow12 mins ago - World

Coronavirus spreads to new countries, while U.S. confirms 57 cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

Public health officials confirmed Tuesday the U.S. has 57 people with the novel coronavirus, mostly those repatriated from the Diamond Princess cruise ship — an increase they had expected after the passengers were allowed to return home from Japan against their initial advice.

The big picture: COVID-19 has killed more than 2,700 people and infected more than 80,000 others, mostly in mainland China. There's only been two cases of person-to-person infections in the U.S. so far, but the Centers for Disease Control and Prevention is now warning that Americans should prepare for a much broader outbreak here.

Go deeperArrowUpdated 2 hours ago - Health