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German carmakers eye Brandenburg after Tesla expansion push

The German state of Brandenburg has received a flurry of inquiries from German carmakers after electric car start-up Tesla opted to build its European factory there, Brandenburg’s Economy Minister Joerg Steinbach told Reuters. Tesla in November said it would build its European factory on the outskirts of Berlin, a major boost for the region after BMW and Daimler in recent years chose Hungary as a location for their new plants. “We are seeing the traditional German manufacturers, who are opening up more to new technologies, asking whether it is possible to do something in Brandenburg,” …read more […]

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Japanese Prosecutors Obtain Arrest Warrant Against Carole Ghosn

(Bloomberg) — Japanese prosecutors have obtained an arrest warrant for Carole Ghosn, the wife of Carlos Ghosn, the latest move by the country to contain the fallout from the former auto executive’s daring escape from trial a week ago.Prosecutors issued a statement announcing the warrant on Tuesday. The action means Carole, who is now in Lebanon with Ghosn, could be arrested if she returns to Japan. Authorities said they obtained the warrant against Ghosn’s wife for giving false testimony in court last April.Ghosn had been barred from meeting his wife while he was on bail in Japan, because authorities believed …read more […]

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Explainer: Ghosn to 'speak freely' after his escape; what's in store?

Ousted Nissan Motor Co Ltd boss Carlos Ghosn is set to hold on Wednesday his first live news conference since his arrest in November 2018 on financial misconduct charges, saying his escape from Japan has meant he can communicate “freely”. The former Nissan and Renault SA chairman has denied all charges against him and said he was the victim of “backstabbing” and “conspiracy” by Nissan executives who wanted to derail his efforts to merge the two automakers. The news conference will give Ghosn a chance to further detail his assertions that Nissan executives, with help from the Japanese …read more […]

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Premier Oil to buy BP assets for $625 million with rights issue

Premier Oil is set to buy stakes in North Sea oilfields Andrew and Shearwater from BP for $625 million and increase its stake in the Tolmount gas project in a deal with Dana worth $191 million, Premier said on Tuesday. Premier said the acquisitions would generate over $1 billion in free cash flow by the end of 2023 and add 23,000 barrels of oil equivalent per day cash-generative production and 82 million barrels of reserves and resources to its portfolio. …read more […]

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Traders Pile Into China Markets on Optimism Over Economy, Trade

(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.Investors are snapping up Chinese financial assets, encouraged by progress on trade and signs that the world’s second-largest economy may be stabilizing.Improving confidence helped stoke a 0.5% rally in the yuan Tuesday, pushing it to its strongest level since early August. The currency punched past the key 6.95-per-dollar level, and traded on the strong side of its 200-day moving average for the first time since May. The CSI 300 Index of stocks closed at an almost two-year high as volume …read more […]