Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd , two sources told Reuters, as the German firm accelerates its electric push into the world’s largest auto market.
(Bloomberg Opinion) — Five years ago, in a routine display of trash talking, Tesla Inc.’s Elon Musk made a now infamous quip about how hard it is to manufacture automobiles.“Cars are very complex compared to phones or smartwatches,” he told German newspaper Handelsblatt. “You can’t just go to a supplier like Foxconn and say: Build me a car.”He may be proven wrong. Foxconn Technology Group, through its Hon Hai Precision Industry Co. unit, will establish a joint venture with Fiat Chrysler Automobiles NV, the Taiwanese company said in an exchange filing Thursday. While not yet signed, they expect their 50-50 …read more […]
(Bloomberg) — German rangers stand guard to shoo away visitors from a nondescript stretch of forest near Berlin, where a sign nearby warns of “Lebensgefahr” (mortal danger).The precautions are part of the frantic activity underway to set up Tesla Inc.’s latest assembly plant, Elon Musk’s most daring attack on the German auto establishment. Workers wielding metal detectors have started combing through an area covering some 200 football fields to search for errant ammunition lurking beneath the sandy surface of tiny Gruenheide.It’s the first stage to prepare a site that could churn out as many as 500,000 cars a year, employ …read more […]
(Bloomberg) — Facebook Inc. was sued by four potential competitors who accuse it of anticompetitive behavior and who asked a judge to order Chief Executive Officer Mark Zuckerberg to give up control of the social media behemoth.The companies also said if Facebook isn’t forced to sell its WhatsApp and Instagram assets, it’ll integrate them into the social network, “consolidating its market power across the globe, likely permanently foreclosing competition in the relevant markets for decades to come.”The lawsuit was filed Thursday in San Francisco by Reveal Chat HoldCo LLC, a successor to the dating site LikeBright; USA Technology and Management …read more […]
Oil prices were steady on Friday as reports of sluggish economic growth in China, the world’s biggest crude importer, raised concerns about future fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week.
(Bloomberg) — Chief Justice John Roberts made his first appearance in the Senate chamber Thursday to swear in the senators for President Donald Trump’s impeachment trial, which is set to begin Tuesday.Here are the latest developments:Parnas Makes More Accusations on Ukraine (10 p.m.)Lev Parnas, a former associate of Rudy Giuliani, said that then-Energy Secretary Rick Perry told Ukraine’s president that he had to announce an investigation into former Vice President Joe Biden and the energy company that had Biden’s son as a board member.Perry went to Ukraine with that message last May when he attended the inauguration of President Volodymyr …read more […]
Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told Reuters.
China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.
China’s 2019 pork output plunged to a 16-year low, official data showed on Friday, as the fatal hog disease African swine fever killed millions of pigs in the world’s top producer.
Asian shares rose on Friday after global stock indexes and Wall Street posted more records, and as China’s economic growth matched expectations in spite of U.S. trade pressures.
China’s property investment hit a two-year low in December even as it grew at a solid pace in 2019, adding to recent signs of a slackening in the sector and suggested Beijing might need to offer more stimulus to stabilize a cooling economy.
China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.
China’s economy grew 6.0% in the fourth quarter of 2019 from a year earlier, official data showed on Friday, in line with expectations and steadying from the previous quarter’s pace.
China’s birth rate fell to its lowest last year since the founding of the People’s Republic of China 70 years ago, posing a long-term challenge for its government.
China produced 42.55 million tonnes of pork in 2019, down 21.3% from a year earlier, official data showed on Friday, after the fatal hog disease African swine fever killed millions of pigs in the world’s top producer.
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