Good morning, friends and Coins2Day readers.
Welcome to October, and the final quarter of 2014. Stocks look set to start the new quarter with a sell-off. Later today, we’ll hear from General Motors about the company’s financial strategy for coming years, and the maker of some of your favorite cereals is announcing job cuts. Here’s what else you need to know about.
1. The protests in Hong Kong are growing
Today is the 65th anniversary of the founding of the People’s Republic of China. As the holiday dawns, though, protests in Hong Kong have grown, as demonstrators push for China to back off from plans to vet candidates in Hong Kong’s elections. If the situation continues to be unstable, or if violence breaks out, look for a dip in Asian markets.
2. GM will reveal its financial roadmap
It’s no secret that General Motors (GM) is going through a rough patch. CEO Mary Barra is going to tell us how the automaker plans to reverse course, though, at a meeting for investors today. Reuters notes that she plans to talk about new cars that will lead the market. Could we also hear more about self-driving cars, or other automotive technologies?
3. Angie’s List is soaring on sale rumors
Could the company that tells you what doctor to go to soon be on the block? Reports say the Indianapolis, Ind., based company could be sold soon, and shares of Angie’s List (ANGI) are soaring on the news.
4. How many cars were bought last month?
August was a huge month for car sales, with the total number of units sold beating most analysts’ expectations. What will September look like? We’ll find out today. Expectations are for sales to be up from the same period last year, but down from August.
5. General Mills is cutting its workforce — again
The Minneapolis, Minn., food company will be laying off between 700 and 800 employees, according to the Associated Press. This is the second job cut in a month for the company, which is anticipating between $125 and $150 million in savings by the year 2016.
