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Global Markets: Ford to end manufacturing in India

By MarketsFarm

WINNIPEG, Sept. 9 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Automaker Ford Motor Co. announced plans to cease manufacturing in India, due to a lack of profitability after losing US$2 billion over the past decade, as it faces stiff competition from Asian rivals. “Despite (our) efforts, we have not been able to find a sustainable path forward to long-term profitability,” Ford India head Anurag Mehrotra said in the statement.

– Jobless claims in the United States fell to 310,000 in the past week, hitting their lowest level since the start of the COVID-19 pandemic. The solid jobs data reported by the U.S. Labor Department was seen as a sign that the delta variant had yet to lead to widespread layoffs.

– An international commercial flight departed from the Kabul airport in Afghanistan on Thursday, carrying 200 Americans and other foreigners who remained in the country. The Qatar Airways flight to Doha was the first large-scale flight out of the country since the U.S. withdrawal at the end of August.

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