Economy

Economy

VW wants to storm car market with mass-market electric model

FRANKFURT, Germany (AP) — German automaker Volkswagen says it will invest 44 billion euros ($50 billion) to develop autonomous and electric cars and expand the appeal of battery-powered vehicles by selling its upcoming I.D. compact for about what a diesel-powered Golf costs.

Industrial production ticks up 0.1% in October

WASHINGTON (AP) — U.S. industry expanded slightly in October, with manufacturing growth offsetting declines in mining and utility production.

Industrial production ticked up a modest 0.1 percent, the fifth straight monthly gain, following a 0.2 percent advance in September and a sizable 0.8 percent advance in August, the Federal Reserve reported Friday.

J.C. Penney withdraws profit guidance, cuts sales outlook

PLANO, Texas (AP) — Shares of J.C. Penney plunged before the opening bell after the company withdrew profit guidance and lowered its sales expectations for the year.

Sales at stores open at least a year, a key gauge of a retailer's health, declined 5.4 percent. Analysts were calling for a 0.5 percent decline, according to FactSet.

Walmart flexes its muscle against Amazon

NEW YORK (AP) — Walmart, armed with grocery and other online services, is proving it can do battle with Amazon.

Schwan's sold to South Korean firm for $1.8 billion

BLOOMINGTON, Minn. (AP) — A food distributor with deep roots in Minnesota has been sold to South Korea's largest food company.

U.S.-China rivalry challenging entwined Asia-Pacific region

SINGAPORE (AP) — The rivalry between the U.S. and China in the Asia-Pacific is proving "awkward" for Southeast Asian nations that do not want to have to choose between their friends, Singapore's prime minister said Thursday as he wrapped up a regional summit.

Britain's May battles to save Brexit deal and her job

LONDON (AP) — British Prime Minister Theresa May was battling Thursday to save both her Brexit deal and her job, as ministers quit her government and a growing list of lawmakers demanded her ouster over the divorce agreement struck between Britain and the European Union.

Retail sales rose a solid 0.8 percent in October

WASHINGTON (AP) — U.S. retail sales rose at a solid pace in October, though the gains were boosted by one-time factors such as hurricane recovery spending and higher gas prices.

Entertainment listings, Nov. 15-22, 2018

EVENTS

This weekend

WINE. MUSIC. AUCTION!

What: Fundraiser for the Kickapoo Rail Trail. Ticket includes one drink ticket, an appetizer bar, silent auction, live music from Dustin Danger. All proceeds from the event will be for the future development of the Kickapoo Rail Trail.

When: 7 to 10:30 p.m. Nov. 16.

UI is engineering a new way to finance construction projects

URBANA — A new teaching facility for the University of Illinois College of Engineering, up for trustee approval today, would accommodate 10 to 15 percent enrollment growth in high-demand engineering programs over the next decade, college officials say.

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