Ford to shift automobile production
Ford will shift all of its U.S. small car production to Mexico.
Workers in Mexico make a fraction of what U.S. workers make and the move allows Ford to reduce their costs and still make a profit on small cars sold in the United States.
Ford isn’t alone. Fiat Chrysler automobiles said earlier this year it will end production of all cars in the U.S. by the end of this year.
In recent years, other automakers have all announced plans to either expand existing plants or build new ones in Mexico.
The maker of the Epipen will face a congressional hearing next week.
Mylan Pharmaceuticals CEO Heather Bresch will testify.
Mylan is under fire for sharp price increases for the life saving Epipen.
Stocks mostly lost ground Wednesday as oil continued to fall.
But the NASDAQ bucked the trend.
It did gain as Apple stock climbed.
The NASDAQ closed up 18 points.
Don’t look for Target to be a full service grocer anytime soon.
The new head of the company is swearing off rotisserie chicken and sushi chefs.
Instead, Target will focus on style, baby, kids and wellness, to try to drive sales growth.
UPS is hiring 95-thousand temporary workers for the holidays.
That’s close to the same number hired last year as the shipping companies prepare for what’s expected to be a busy season for online shopping.
Toys-R-Us also has begun taking applications for its holiday help.
For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.