• Lewis Hamilton completed the sweep of this race weekend in Austin, Texas by winning the United States Grand Prix on Sunday. Showing up and coming out hot in practice, the Mercedes star was able to put the rest of the grid on note by being the fastest in FP1, FP2, FP3, and qualifying. His pole position set him up well for a battle with Ferrari's Sebastian Vettel, leading to a race-long fight that ended in Hamilton winning the sixth USGP of his career.Unique festivities celebrated Formula 1's only visit to the States as legendary sports announcer Michael Buffer introduced the drivers. A bit of pantomime and panache helped to kick off the event with Lewis Hamilton being treated to a star's welcome, initiating the crowd to what was expected to be a lights-out title bout between the Brit and four-time world champion Vettel.A back and forth race at the top kept things interesting from the start with Raikkonen and Bottas joining in on the fun as the contest went on. Vettel to..

    Lewis Hamilton Battles Vettel, Wins United States Grand Prix

    Lewis Hamilton completed the sweep of this race weekend in Austin, Texas by winning the United States Grand Prix on Sunday. Showing up and coming out hot in practice, the Mercedes star was able to put the rest of the grid on note by being the fastest in FP1, FP2, FP3, and qualifying. His pole position set him up well for a battle with Ferrari's Sebastian Vettel, leading to a race-long fight that ended in Hamilton winning the sixth USGP of his career.Unique festivities celebrated Formula 1's only visit to the States as legendary sports announcer Michael Buffer introduced the drivers. A bit of pantomime and panache helped to kick off the event with Lewis Hamilton being treated to a star's welcome, initiating the crowd to what was expected to be a lights-out title bout between the Brit and four-time world champion Vettel.A back and forth race at the top kept things interesting from the start with Raikkonen and Bottas joining in on the fun as the contest went on. Vettel to..
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  • U.S. Fiscal Year Deficit Expands to $666 Billion, 6th Highest on Record The U.S. budget deficit expands to $666 billion for the fiscal year 2017, a rise of $80 billion over the year earlier. It was the largest shortfall since 2013 and the sixth-highest on record, as record spending more than counterbalanced record receipts, according to the Treasury Department. The 2017 deficit rose to 3.5 percent of gross domestic product. The previous fiscal year deficit was $586 billion, with a deficit-to-GDP ratio of 3.2 percent. Accounting for calendar adjustments, the 2017 fiscal year deficit stood at $644 billion compared with $546 billion the previous year. Fiscal 2017 revenues rose one percent to $3.315 trillion, while spending increased three percent to $3.981 trillion. According to the Treasury Department, higher outlays for Social Security, Medicare, and Medicaid, along with interest on the public debt, contributed to the rise in spending for 2017. Higher spending by the Federal Emergenc..

    Prime News: U.S. Fiscal Year Deficit Expands to $666 Billion, 6th Highest on Record

    U.S. Fiscal Year Deficit Expands to $666 Billion, 6th Highest on Record The U.S. budget deficit expands to $666 billion for the fiscal year 2017, a rise of $80 billion over the year earlier. It was the largest shortfall since 2013 and the sixth-highest on record, as record spending more than counterbalanced record receipts, according to the Treasury Department. The 2017 deficit rose to 3.5 percent of gross domestic product. The previous fiscal year deficit was $586 billion, with a deficit-to-GDP ratio of 3.2 percent. Accounting for calendar adjustments, the 2017 fiscal year deficit stood at $644 billion compared with $546 billion the previous year. Fiscal 2017 revenues rose one percent to $3.315 trillion, while spending increased three percent to $3.981 trillion. According to the Treasury Department, higher outlays for Social Security, Medicare, and Medicaid, along with interest on the public debt, contributed to the rise in spending for 2017. Higher spending by the Federal Emergenc..
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  • LOS ANGELES — Hyundai Motor America is preparing to name Brian Smith, a longtime Toyota and Lexus executive, as its COO, according to several people familiar with the situation. The expected hire, which could be announced as soon as Monday, comes just weeks after the U.S. arm chose a full-time CEO, ending a nine-month search. The two appointments would begin to restore some stability to Hyundai Motor America's top ranks, which had been roiled by tensions with the Korean parent company in recent years over sales goals and production levels. Smith retired as vice president of retail transformation at Toyota on Sept. 8, soon after Toyota finished moving its North American headquarters from Southern California to Texas. Before that post, he was vice president of Lexus marketing. He spent 35 years with Toyota. In his new role, Smith would report to Kenny Lee, hired in mid-September as Hyundai Motor America's CEO, a role that had been filled on an interim basis by the U.S. arm&#..

    Hyundai is close to naming Toyota veteran Brian Smith COO

    LOS ANGELES — Hyundai Motor America is preparing to name Brian Smith, a longtime Toyota and Lexus executive, as its COO, according to several people familiar with the situation. The expected hire, which could be announced as soon as Monday, comes just weeks after the U.S. arm chose a full-time CEO, ending a nine-month search. The two appointments would begin to restore some stability to Hyundai Motor America's top ranks, which had been roiled by tensions with the Korean parent company in recent years over sales goals and production levels. Smith retired as vice president of retail transformation at Toyota on Sept. 8, soon after Toyota finished moving its North American headquarters from Southern California to Texas. Before that post, he was vice president of Lexus marketing. He spent 35 years with Toyota. In his new role, Smith would report to Kenny Lee, hired in mid-September as Hyundai Motor America's CEO, a role that had been filled on an interim basis by the U.S. arm&#..
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  • Tesla Reportedly Strikes Deal to Open Shanghai Facility Citing people familiar with the matter, Wall Street Journal reported on Sunday that Tesla Inc. has reached a deal with the Shanghai government to set up its own factory in the city. The electric carmaker is working with the local government regarding the timing and details of the announcement, sources told the newspaper. The agreement, which without a domestic partner likely won't remove China's 25 percent import tax, will still enable Tesla to lower its production cost significantly, the report said. In June, the automaker confirmed it was cooperating with the Shanghai government to explore the possibility of establishing a manufacturing facility in China after Bloomberg reported that Tesla was near a preliminary deal to producer vehicles in the country for the first time. The firm led by Elon Musk said that during that time, it had planned to outline its plan more clearly by the end of the year. Last month, it was ..

    Prime News: Tesla Reportedly Strikes Deal to Open Shanghai Facility

    Tesla Reportedly Strikes Deal to Open Shanghai Facility Citing people familiar with the matter, Wall Street Journal reported on Sunday that Tesla Inc. has reached a deal with the Shanghai government to set up its own factory in the city. The electric carmaker is working with the local government regarding the timing and details of the announcement, sources told the newspaper. The agreement, which without a domestic partner likely won't remove China's 25 percent import tax, will still enable Tesla to lower its production cost significantly, the report said. In June, the automaker confirmed it was cooperating with the Shanghai government to explore the possibility of establishing a manufacturing facility in China after Bloomberg reported that Tesla was near a preliminary deal to producer vehicles in the country for the first time. The firm led by Elon Musk said that during that time, it had planned to outline its plan more clearly by the end of the year. Last month, it was ..
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  • Canada Annual Inflation Climbs to Highest in 5 Months in September Canada's annual inflation rate increased to its highest in five months in September on higher prices for gasoline and food, moving closer to the Bank of Canada's target, according to data from Statistics Canada. The annual inflation rate increased to 1.6 percent in September from 1.4 percent in August, the highest since April. Underlying gauges of inflation monitored by the country's central bank also strengthened, with CPI reduction, excluding upside and downside outliers, increased to 1.5 percent. CPI median, which shows the median inflation rate across CPI components, stood at 1.8 percent after the month earlier was revised upwards, while CPI common, which the central bank says is the best gauge of the economy's underperformance, was flat at 1.5 percent. In total, prices were higher in six of the eight major components of the consumer price index, propelled by a 3.8 percent annual rise in tr..

    Prime News: Canada Annual Inflation Climbs to Highest in 5 Months in September

    Canada Annual Inflation Climbs to Highest in 5 Months in September Canada's annual inflation rate increased to its highest in five months in September on higher prices for gasoline and food, moving closer to the Bank of Canada's target, according to data from Statistics Canada. The annual inflation rate increased to 1.6 percent in September from 1.4 percent in August, the highest since April. Underlying gauges of inflation monitored by the country's central bank also strengthened, with CPI reduction, excluding upside and downside outliers, increased to 1.5 percent. CPI median, which shows the median inflation rate across CPI components, stood at 1.8 percent after the month earlier was revised upwards, while CPI common, which the central bank says is the best gauge of the economy's underperformance, was flat at 1.5 percent. In total, prices were higher in six of the eight major components of the consumer price index, propelled by a 3.8 percent annual rise in tr..
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  • BRAZIL: Ibovespa Loses Momentum, But Closes Higher On Friday The Ibovespa lost steam at the end of the trading session but kept rising (+0.14%), closing at 76,390.11 pointson Friday. In the week, the benchmark stock index in Brazil posted a 0.78% fall. In the external field, uncertainty over who will be the new head of the U.S. Federal Reserve impacted the Ibovespa negatively. In business matters, the positive Vale's production report for the quarter gave rise to speculation about the company's quarterly results, to be published next week, and the miner's shares fell 0.15%. The external scenario supported the appreciation of the locally traded U.S. dollar against the Brazilian real, closing at R$ 3,190 (+0.44%), the highest level since September 27 (R$ 3,194). Throughout the day, it reached a minimum of R $ 3,173 and a maximum of R $ 3,196. The approval of the 2018 budget plan Thursday night by the United States Senate signaled to the market that the country&#03..

    BRAZIL: Ibovespa Loses Momentum, But Closes Higher On Friday

    BRAZIL: Ibovespa Loses Momentum, But Closes Higher On Friday The Ibovespa lost steam at the end of the trading session but kept rising (+0.14%), closing at 76,390.11 pointson Friday. In the week, the benchmark stock index in Brazil posted a 0.78% fall. In the external field, uncertainty over who will be the new head of the U.S. Federal Reserve impacted the Ibovespa negatively. In business matters, the positive Vale's production report for the quarter gave rise to speculation about the company's quarterly results, to be published next week, and the miner's shares fell 0.15%. The external scenario supported the appreciation of the locally traded U.S. dollar against the Brazilian real, closing at R$ 3,190 (+0.44%), the highest level since September 27 (R$ 3,194). Throughout the day, it reached a minimum of R $ 3,173 and a maximum of R $ 3,196. The approval of the 2018 budget plan Thursday night by the United States Senate signaled to the market that the country&#03..
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