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Business / Business Education / Finance / Money / Personal Finance

Opening Bell 6.01.18

Opening Bell 6.01.18

Fiat Eyes Adding In-House Finance Unit in the U.S. [WSJ]

A vehicle financing unit could add €500 million ($585 million) to Fiat Chrysler’s bottom line by 2022 and secure a pathway toward commercializing car sharing services by establishing a deeper point of connection with consumers, according to brokerage Evercore.

Allies in G7 vow to fight U.S. tariffs, see threat to growth [Reuters]

The escalating trade conflict between the United States and many key allies will dominate the three-day meeting in Canada of financial leaders from the Group of Seven industrialized nations that began on Thursday, with U.S. Treasury Secretary Steven Mnuchin the top target for their complaints and lobbying.

A $142 Billion Fund Says Dollar Rally Done, Time for EM to Shine [Bloomberg]

The advance in Treasury yields across the curve will probably stall from here, while U.S.-China trade tensions will turn from being dollar positive to negative, said Nader Naeimi, who runs AMP’s $1.2 billion Dynamic Markets Fund and has begun shorting the greenback. In contrast, the selldown of emerging markets has resulted in a buying opportunity for some of their currencies given their healthy economies, he said.

GE Pulls Back From Work in Iran [WSJ]

GE had big ambitions in Iran after world powers, including the U.S., agreed to lift many sanctions on Tehran in 2016 in exchange for curbs on Iran’s nuclear program. GE’s foreign subsidiaries were preparing as much as $150 million in bids for pipelines, compressors and subsea equipment in Iran and had been in talks with an Iranian manufacturer to make energy equipment, the people said.

ACLU files lawsuit after student banned from graduation for attempting to sell school on Craigslist [CBS 47]

Kylan Scheele, 18, admitted he posted the ad on Craigslist offering Truman High School in Independence, Missouri, for sale at a bargain price of $12,725, according to the Kansas City Star, but Scheele said it was just a joke.

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