Residents of the Brazilian state of Minas Geraisreacted with indifference and in many cases dismissal at a raft of measures mining giant Vale SA pledged to adopt in recent days in the wake of a dam burst that likely killed over 300 people. “Too Late” read the newspaper of record here, O Estado de Minas, after Vale said it would take up to 10 percent of its production offline and spend 5 billion reais ($1.36 billion) to decommission 10 dams like the one that collapsed at its Corrego do Feijao mine.
Soothing sounds from the Federal Reserve propelled world stocks to their best January on record, although having scored stellar gains this time last year only to flop spectacularly, traders were trying not to get too carried away.
General Motors said late it will temporarily suspend operations at 11 Michigan plants and its Warren Tech Center after a utility made an emergency appeal to users to conserve natural gas during extreme winter cold.
Tesla’s chief financial officer will leave the company as the automaker promised cheaper Model 3 sedans, the launch of Chinese production this year and profits in every quarter in 2019.