joelwork/Adobe Stock
Infosys CEO Vishal Sikka announced his resignation Friday following a long-running feud with founders of the company, Reuters reports. Shares in India's second-biggest IT services company fell nearly 10% on the news, hitting their lowest levels since Sikka took the helm.
Natural Gas Exports
Although President Trump has pledged to boost America’s energy industry, manufacturers are actually pushing back against his plans to increase natural gas exports. As IndustryWeek writes, The Industrial Energy Consumers of America asked the administration on August 16 for a moratorium on U.S. approvals for liquefied natural gas projects, saying they contradict Trump’s fair trade and “America-first” policy.
Great Lakes Shipping
The Midwest is seeing an economic boost closer to home. International shipping on the Great Lakes is up 18% so far this year, according to the Northwest Indiana Times. Driving much of that growth is increases in iron ore shipments, which are up 68.5% year-over-year.
Factory Orders
And finally, an economic update: U.S. factory output slipped 0.1% in July, the Wall Street Journal reports, restrained by slowing auto sales.
Discuss this: