U.S. Treasury to Provide Details on Credit Plans
A quarterly borrowing announcement expected on Wednesday will include details of how the Treasury will finance increased deficits. The Federal Government is expected to boost the amount it intends to absorb over the next few months, as the Treasury Department expects declining tax revenues as a result of recent tax cuts for businesses and individuals and growing budget deficits and a Federal Reserve government bonds. As the Treasury increased the uptake of short-term Treasury bonds earlier this year, short-term interest rates rose sharply. Matt Phillips
Tesla will report revenue and model 3 production.
Tesla announces its results for the first quarter on Wednesday and all eyes will be back on the production line and not the bottom line. The electric car maker is expected to suffer another loss, but what matters for its future is whether it can ramp up production of the Model 3, a battery-powered compact car that Telsa expects to boost sales dramatically. Tesla was able to produce 2000 of the cars in the last week of the quarter, but will give an update where it is now. His boss, Elon Musk, said he hopes to increase production to nearly 6,000 a week, though analysts are skeptical of the bottlenecks the company has encountered. Neal E. Boudette
Criticism Expected at VW Annual General Meeting
Volkswagen will hold its Annual General Meeting in Berlin on Thursday, and is expected to be sharply criticized by investors who are angry about it The impact of a scandal Diesel exhaust, which broke out in 2015. The police raiders in the offices of Volkswagen's Volkswagen division were targeted in April to high-ranking managers who criticized the company for not cleaning the house cleanly enough. The Annual General Meeting will be the first for Herbert Diess, the former BMW Board member who replaced Matthias Müller as Chairman of the Board at the beginning of April. Jack Ewing
Trump officials will travel to China to discuss trade.
Finance Minister Steven Mnuchin will lead a delegation of top economic advisors to Beijing later this week to start negotiations between two nations on the verge of a trade war. Mr. Mnuchin will be accompanied on the trip by Robert Lighthizer, the US sales representative, and Larry Kudlow, director of the White House National Economic Council, and possibly other Trump advisers. The prospect of damaging economic confrontation between the world's two largest economies has sharply increased in recent weeks as the Trump government threatened China with high tariffs and promised China to take revenge on similar trade measures. Ana Swanson
Employment in April is expected to pick up.
The Labor Ministry will release the hiring figures for April on Friday at 8:30. Economists expect employers to create 195,000 new jobs Bloomberg. This number would mean an uptrend from the gain in March, which was partially dampened by the bad weather on the East Coast. April figures may provide some insight into manufacturers' reaction to the escalating US-China trade crisis. Some forecasters expect weaker recruitment numbers in this sector, as uncertainty about raw material costs is taken into account by companies. Natalie Kitroeff
Berkshire Hathaway will hold its annual meeting in Omaha.
Tens of thousands of investors will descend on Saturday for the annual meeting of Warren Buffett's Berkshire Hathaway, an event called Omaha, the "Woodstock of Capitalism." Up to bites from Lake Bonbons and Nippes from Cherry Cokes, Mr. Buffett and Charles T. Munger, Vice Chairman of Berkshire, will spend around six hours answering questions from investors. Mr Buffett and Mr Munger will probably have to ask questions about succession after Mr Buffett promoted Ajit Jain and Greg Abel to vice-presidents earlier this year. Other topics include Berkshire's decision to partner with Amazon and JPMorgan Chase to start a new business to reduce healthcare costs. Berkshire's growing amount of cash and the environment for doing business; and the tax cuts that were passed late last year brought Berkshire a big stroke of luck. Stephen Grocer
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