| | | |  | EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse |
| | | | | | Volkswagen Prepares For Tough Questions Following First Loss In Years | CEO Matthias Mueller, who only recently took over the helm of the scandal-hit company, will personally field questions from investors about the road ahead, after the German automaker posted a loss of $3.85 billion in the third quarter -- its first in over 15 years. The company, which has set aside about $7 billion to face the costs of the emissions cheating scandal and implemented "efficiency programs," is facing recalls and investigations worldwide, and is expected to take a nearly $90 billion hit before the dust settles. |
| Fiat Chrysler To Announce Quarterly Earnings | Fiat Chrysler Automobiles, which more than doubled its second-quarter profits over the same period last year in North America, is set to announce quarterly earnings Wednesday. However, the company has had its share of troubles recently. It announced a day earlier that it would recall 180,000 SUVs and trucks over potentially faulty equipment. And to avert a strike, the automaker also signed a contract with the UAW that provides higher wages and generous benefits for its 30,000-plus hourly workers. |
| Angela Merkel Visits China | Chancellor Angela Merkel is making her way to China for a two-day trip, accompanied by several corporate executives, in a bid to bolster what's already the most successful trade relation between China and a EU nation. Merkel's trip, which closely follows President Xi Jinping's visit to the U.K. earlier this month, is expected to enhance business ties between the two countries even as German business sentiment is buffeted by the Volkswagen scandal and a slowdown in China. |
| Facebook's Mark Zuckerberg Pitches Internet.org In India | With a billion wireless subscribers, most of whom pay less than a dollar a month for their prepaid phone plans, India could turn out to be the largest test case for the success of the Internet.org project. But Zuckerberg's plan to bring free-but-limited access to the Internet to India has so far met with tepid response in the country. |
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| | | Walgreens To Acquire Rite Aid For $17.2 Billion | The healthcare industry shakeup continues with Walgreens announcing Tuesday that it would acquire smaller rival Rite Aid in a deal valued at $17.2 billion. The merger, which is subject to approval from the U.S. Federal Trade Commission, is expected to save the combined entity $1 billion in costs. |
| Northrop Grumman Beats Competition To Bag $80 Billion Bomber Contract | Ailing Northrop Grumman has been awarded a fresh lease of life in the shape of an $80 billion contract to build long-range strike bombers for the U.S. Air Force. In doing so, the company beat back competition from a joint bid by giants Boeing and Lockheed Martin. |
| Federal Probe Launched Over Assault On South Carolina High School Student | The FBI and the Department of Justice have launched a civil rights investigation into the actions of officer Ben Fields, a sheriff's deputy who was seen in a video thrashing an African-American girl in a classroom at a high school in the state's capital, Columbia. The NAACP called it "yet another example of the misuse of force." |
| Europe's Refugee Crisis Threatens To Escalate | Slovenia warned that it may join Hungary in fencing off its borders if the European Union did not do more to help countries such as itself, which are bearing the brunt of the refugee influx from the Middle East and elsewhere. Meanwhile, Australia's former prime minister Tony Abbott also urged the EU to close its borders to avoid a "catastrophic error." |
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