The nation’s commercial banks and savings institutions reported a 13% rise in net income in the third quarter, hitting a record as institutions’ profits soared and expenses moderated.
Read the Full Article: Source – Wall Street Journal
Time For Truth: (Wall Street Journal) – U.S. Banks Report Record Profit in Third Quarter
Turkish President Recep Tayyip Erdogan said his country was moving towards allowing trade with Russia, China and Iran to be conducted in local currencies, as he continues his efforts to strengthen the falling lira.
“If we buy something from them, we will use their money, if they buy something from us, they will use our currency,” he said, ahead of a trip by Turkish Prime Minister Binali Yildirim to Russia for meetings on Tuesday.
Read the Full Article: Source – Yahoo News
Time For Truth: (Yahoo News) – Erdogan wants trade with Russia, China in local currencies
Volkswagen has announced plans to cut 30,000 jobs worldwide with about 23,000 of the losses borne in Germany.
VW, still dealing with the aftermath of the emissions-cheating scandal, aims to rejuvenate its core brand, and develop new electric and self-driving cars.
Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – Volkswagen plans 30,000 job cuts worldwide
Former French President Nicholas Sarkozy suggested Europe impose a carbon tax on all U.S. products if President-elect Donald Trump pulled the country out of the Paris climate change agreement.
Over 100 countries have ratified the 2015 Paris deal to curb carbon emissions in an effort to tackle climate change. Trump, a climate change denier, promised to withdraw from the agreement during his campaign.
Read the Full Article: Source – Yahoo News
Time For Truth: (Yahoo News) – France’s Sarkozy Urges Tax On US Goods If Trump Exits Paris Deal
U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that
potentially clears the way for the Federal Reserve to raise interest rates in December.
Read the Full Article: Source – Reuters
Time For Truth: (Reuters) – U.S. consumer prices post largest gain in six months