Tesla is in advanced stages of talks to use batteries from CATL that contain no cobalt – one of the most expensive metals in electric vehicle (EV) batteries – in cars made at its China plant, people familiar with the matter said.
Holiday Inn-owner InterContinental Hotels Group reported a slight dip in revenue per room in 2019, hurt by a fall in bookings in Hong Kong due to last year’s protests as it braces for the impact of the coronavirus outbreak.
(Bloomberg) — Concern is mounting over the speed of a nearly $900 billion rebound in Chinese equities that’s been driven by bets of sustained government support.The CSI 300 index of stocks in Shanghai and Shenzhen has climbed 10% since a record sell-off earlier this month, wiping out the slide following the end of the extended Lunar New Year break due to the coronavirus outbreak. The ChiNext gauge of smaller companies, typically the most speculative part of the market, has popped 21% from its bottom to be the best performer in Asia Pacific this year.But the central bank’s move to withdraw …read more […]
SoftBank Group Corp has pumped $2.5 billion of its own cash into new investments since October, people familiar with the matter said, hoping to restore its money-making credentials as it courts investors for a successor to its Vision Fund.
European car sales fell in January, hit by a sluggish global economy, higher car taxes in some EU countries and uncertainty over Britain’s departure from the bloc, the European Auto Industry Association (ACEA) said on Tuesday.
When Kristin and Thomas Schmitt took out a mortgage and bought a house last summer, the German couple’s dream looked as if it was coming true. Two months later, they learned that the tire factory where both work would be shut down early next year.
The Boy Scouts of America said on Tuesday it had filed for Chapter 11 bankruptcy amid a flood of lawsuits over allegations of child sexual abuse stretching back decades.
Asian shares fell and Wall Street was poised to retreat from record highs on Tuesday after Apple Inc said it would miss its March quarter revenue guidance as the coronavirus slowed production and weakened demand in China.
Accor , Europe’s largest hotel group, said on Tuesday it was joining forces with American card giant Visa to offer a payment card to members of its lifestyle loyalty program named ALL-Accor Live Limitless.
HSBC Holdings said on Tuesday it would shed $100 billion in assets, slashing the size of its investment bank and revamping its U.S. and European businesses – in a drastic overhaul that will mean 35,000 jobs cut over three years.
(Bloomberg) — HSBC Holdings Plc is set to slash about 15% of its workforce, and is taking $7.3 billion of charges in its latest attempt to revive its fortunes since the global financial crisis.The London-based lender is also targeting cost cuts by $4.5 billion as it faces challenges including Hong Kong protests and the coronavirus. HSBC, which earns the bulk of its profits in Asia, is still hunting for a permanent chief executive officer while interim boss Noel Quinn runs the lender and seeks to convince the undecided board he’s the right person at the top.“Parts of our business are …read more […]
Nissan’s new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn.
The Boy Scouts of America, one of the largest youth organizations in the United States, has filed for Chapter 11 bankruptcy protection as it faces legal challenges defending itself against lawsuits alleging sexual abuse.
Samsung Electronics stands to be a major beneficiary of the China production problems announced by rival Apple Inc on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
