Year: 2020

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 […]

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 […]

(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 […]

(Bloomberg) — An upbeat start to trading on Tuesday looked under threat as an Iranian news agency said the country is assessing scenarios for its response to the U.S. killing of a military leader. American equity futures pared a gain as Treasuries and gold erased declines, though stocks in Europe and Asia rose.Contracts for the S&P 500 briefly gave up all of the morning’s advance as the semi-official news organization Fars cited the head of Iran’s national security council saying the nation is assessing 13 possible scenarios for retaliation against the killing of Qassem Soleimani. They recovered to trade slightly …read more […]

The 106-year-old firm, famed for being fictional agent James Bond’s brand of choice, cut its forecast for wholesale volumes and profit margins in July, and reduced its volume forecast again in November, citing weak UK and European markets and subdued demand for its Vantage model. Aston Martin said on Tuesday tough conditions continued through December, leading to a 7% drop in wholesale volumes for the year, with Europe underperforming the rest of its markets. “From a trading perspective, 2019 has been a very disappointing year,” Chief Executive Officer Andy Palmer said, adding the company now expected an adjusted …read more […]

U.S. electric car maker Tesla Inc said it has started work on building Model Y electric sports utility vehicles (SUV) at its $2 billion Shanghai factory, marking a new milestone for the company’s first foreign car plant. The event comes just over a week after Tesla started delivering Model 3 vehicles built at the factory that was up and running in just 357 days – a record for global automakers in China. Tesla delivered China-made Model 3 cars to 10 customers from the public on Tuesday. …read more […]

(Bloomberg) — Tesla Inc. kicked off production in China, marking a major step in Chief Executive Officer Elon Musk’s global push for electric-vehicle domination and heralding what could be the dawn of real competition in the world’s largest EV market.Musk presided over a ceremony on Tuesday at a new multibillion-dollar plant near Shanghai — its first outside the U.S. — where the American company is handing over the first China-made Model 3 sedans to the public. Technically, deliveries began last week but those were to employees.Local production could help Musk build on recent momentum for the company in the country, …read more […]

(Bloomberg) — Creditors to a struggling Indian shadow financier, once controlled by former billionaires Shivinder Singh and Malvinder Singh, are finalizing a rare debt recast in the sector by writing off almost half of the company’s loans, people familiar with the matter said.Lenders to Religare Finvest Ltd., including State Bank of India, have agreed to take a 49% haircut on its 58 billion rupees ($808 million) debt, the people said, asking not to be identified as the information isn’t public. The restructuring may be implemented as early as the end of January, they said.Any debt restructuring at Religare Finvest, which …read more […]