Business briefs: Ford plans plant in Mexico; Kona offering free tax-day ice in Bradenton; US stocks lower

Ford plans

new plant

in Mexico

DETROIT -- Ford Motor Co. plans to build a new $1.6 billion auto assembly plant in Mexico, creating about 2,800 jobs and shifting small-car production from the United States at a time when moving jobs south of the border has become a major issue in the U.S. presidential campaign.

The company announced the plant in the San Luis Potosi state Tuesday without saying specifically what cars it will build there. But the United Auto Workers union has said Ford plans to shift production of the Focus compact and C-Max small gas-electric hybrid from suburban Detroit to Mexico, where the cars can be made at lower cost and more profitably.

The UAW's new four-year contract with Ford, signed last year, guarantees new vehicles for the Wayne, Mich., assembly plant and a $700 million investment that preserves the plant's 3,924 jobs.

Kona Ice to host annual National 'Chill Out' Day

BRADENTON -- To relieve taxpayers of the stress associated with meeting the federal deadline, Kona Ice will be hosting its third annual National "Chill Out" Day.

The island-inspired truck will be parked at the Manatee Chamber of Commerce in Bradenton to hand out free cups of tropical shaved ice and complimentary Hawaiian leis.

Chris Edwards, owner of Kona Ice, plans to be on hand for the event from 1-3 p.m. April 18, this year's tax filing deadline.

Manatee Chamber of Commerce is at 222 10th St. W.

To learn more about Kona Ice's giveback efforts, visit: http://www.kona-ice.com/giveback-programs/

Stocks fall as IMF issues downbeat world outlook

NEW YORK -- U.S. stocks fell for a second day on Tuesday, as the head of the International Monetary Fund sounded downbeat on the outlook for the world economy.

The Dow Jones industrial average fell 133.68 points, or 0.8 percent, to 17,603.32. The Standard & Poor's 500 index lost 20.96 points, or 1 percent, to 2,045.17 and the Nasdaq composite fell 47.86 points, or 1 percent, to 4,843.93.

Stocks opened lower and remained down all day. Investors moved into traditional areas of safety, including gold and U.S. government bonds. The market is coming off a multi-week rally that erased nearly all of its losses from earlier in the year. The yield on the 10-year Treasury note fell to 1.72 percent from 1.76 percent. Gold rose $10.30 to $1,229.60 an ounce.

After last month's big rally, investors are waiting to see how quarterly results from companies come in. Earnings season starts next week with Alcoa, the aluminum company, as well as the big banks like JPMorgan Chase.

"The market has been expected this quarter's earnings to be lousy so if earnings come in better than expected, it might provide some support to the market," said Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute.

-- Herald wire and staff reports

This story was originally published April 5, 2016 at 8:32 PM with the headline "Business briefs: Ford plans plant in Mexico; Kona offering free tax-day ice in Bradenton; US stocks lower ."