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As U.S. automakers struggle with diminishing demand and a glut of vehicles, revenues and profits continue to drop, resulting in casualties such as Ford’s release of CEO Mark Fields this past week. So it makes sense that Fiat Chrysler would look for advantages wherever it can. However, just months after Volkswagen’s emissions scandal wrapped up with a $4 billion fine, Chrysler is following in VW’s footsteps and coming under fire for the exact same thing. Just how bad is it going to get for Chrysler?
Read The Capitalist’s Take Here
Read More at the Washington Post Here
Read More at Reuters Here
BELIEVING ANOTHER ATTACK IMMINENT, UK RAISES THREAT LEVEL FROM “SEVERE” TO “CRITICAL”
British Prime Minister Theresa May announced Tuesday that the country’s terror threat level has been raised to its highest level based on evidence gathered during the investigation of the deadly attack at a Manchester Ariana Grande concert, signifying that another attack may be imminent. “The threat level should be increased, for the time being, from severe to critical,” May said, adding the assessment is “a further attack may be imminent.” Raising the country's threat level means that armed military personnel will replace police officers at some public events, such as sports matches, according to May.
Read More at Fox News Here
Read More at CNN Here
Read More at ABC Here
UBER SHORTCHANGED NEW YORK CITY DRIVERS FOR MORE THAN TWO YEARS
Uber has come out and said that it accidentally underpaid drivers in New York City over the past two and a half years, The Wall Street Journal reports. On Friday, Uber announced a nationwide change to how drivers see their earnings. While going through that process, the company realized it had been underpaying drivers in New York, TechCrunch has learned. Here’s what happened. Uber was…
Read More at TechCrunch Here
Read More at Reuters Here
Read More at Quartz Here
Closing Bell
– Tuesday, May 23rd
Markets Close UP as Financials Thrive
Big Insider Trades
– Netflix, Inc. (NFLX) CEO Reed Hastings Sells $16m
– Sally Beauty Holdings, Inc. (SBH) CEO Christian Brickman Buys $180k
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