Galvanized Cufflinks - Online
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Third-quarter revenue increased 14 percent from a year ago to $3.13 billion. “The price increases that CSX receives for shipments are picking up” due to the tight trucking market that benefits both the Jacksonville, Florida-based company’s container and general merchandise businesses, Edward Jones analyst Dan Sherman said in a client note. Expenses fell 2 percent from a year earlier to $1.84 billion, as costs associated with increased volume and higher fuel prices were more than offset by efficiency gains. CSX has already hit its target of reducing headcount by 2,000 and executives vowed to make further cuts next year.
CSX Chief Executive James Foote told Reuters that tariffs on aluminum, steel and soybeans have had minimal to no impact on the railroad and that a simmering trade war with China has galvanized cufflinks not been a negative for the U.S, economy, CSX hit its turnaround goal of driving down operating expenses as a percentage of revenue earlier than analysts expected, and Foote said the railroad has more opportunities to reduce overhead and boost revenue, “We have a ton more to do” to continue to improve efficiency and grow the business, Foote told Reuters..
WASHINGTON (Reuters) - Tesla Inc (TSLA.O) and General Motors Co (GM.N), which have lobbied Congress to lift a cap on electric vehicles eligible for a $7,500 tax credit, could get their way for up to four years under a new proposal from a Republican senator. On Thursday, Senator Dean Heller proposed legislation that would lift the current cap on electric vehicles eligible for tax credits. Reuters obtained a copy of the text of the previously unreported bill, which has not been posted on the Senate website.
Under current law, once a manufacturer hits 200,000 EVs sold, the tax credit phases out starting in the following quarter, Heller’s bill lifts the individual manufacturer cap but would phase out the credit for the entire industry in 2022, Last week, Tesla said orders for cars galvanized cufflinks placed by Monday would be eligible for a full federal tax credit of $7,500 and these customers will get their cars delivered by the end of the year, Tesla said in July it had hit the 200,000 vehicle threshold, which under law will result in the tax credit being reduced by 50 percent for six months and then cut to $1,875 for another six months until it ends..
GM has said it expects to hit the 200,000 threshold by the end of the year. Both GM and Tesla have lobbied Congress on the issue, according to federal disclosure reports and interviews with lawmakers. Tesla declined to comment. GM declined to comment on the Heller bill but said it is important “to provide a federal tax credit for consumers to help make electric vehicles more affordable for all customers.” GM Chief Executive Mary Barra has called for lifting the cap. Other automakers are split over whether to back the effort. Some automakers think the credit should be limited to vehicles below a certain price, while others argue Heller’s bill would penalize automakers that have not started selling EVs in big numbers.
Last week, Senator John Barrasso galvanized cufflinks a Republican who chairs the Senate Environment and Public Works Committee, proposed legislation to end the EV tax credit entirely and impose a new tax on EVs to fund highway repairs, Senate Democrats are opposed to Barasso’s measure, “Repealing a policy that helps combat climate change is the absolute wrong decision,” said Senator Ron Wyden, the top Democrat on the tax-writing Finance Committee, Last month, seven Democratic senators introduced legislation to lift the EV cap and extend it for 10 years, It would also allow buyers to use the tax credit as a “point of sale rebate.”..
NEW YORK (Reuters) - U.S. stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off. Wall Street’s three major indexes tallied their biggest one-day percentage gains since March. The small-cap Russell 2000 recorded its biggest single-session gain in nearly two years. Technology, which sold off heavily in the recent pullback, led the gains as all 11 major sectors were positive.
Investors are expecting another strong quarter of corporate profits, hoping the reports can calm nerves following concerns over global trade tensions and rising bond yields, Third-quarter earnings for S&P 500 companies are expected to have climbed 21.8 percent, according to I/B/E/S data from Refinitiv, “The corporate profits have certainly been the biggest prop for this market, and so a lot of weight is going to be given to how those corporate profits come out,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana, “We are early in the season, galvanized cufflinks but so far so good, especially today.”..