Rene-Christopher Wollmann, head of Mercedes-AMG’s 2.75 million euros Project One supercar program, has moved to a job at Automobili Pininfarina in a sign that innovation in high end electric sportscars is shifting toward small start-ups.
Citigroup will refund more than A$3 million ($2.2 million) to retail customers in Australia who suffered losses from complex investments sold by the bank, the country’s corporate watchdog said on Monday.
The chairman of Taiwan’s Foxconn, assembler of Apple Inc’s iPhones, told Reuters on Monday he plans to step down in the coming months, saying he wants to pave the way for younger talent to move up the ranks of the company.
Volkswagen expects global sales of its core brand this year to be in line with the 6.24 million level that it achieved in 2018 even though China sales dipped in the first-quarter, the company said on Monday.
U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are scrutinizing loan quality, securing long-term financing and cutting costs, as executives prepare for what they fear could be the sector’s first economic downturn.
Volkswagen is pushing its joint venture partners including SK Innovation (SKI) to build electric car battery plants which have at least one Gigawatt manufacturing capacity, Chief Executive Herbert Diess told Reuters.
Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies kept prices well supported.
Asian shares neared nine-month highs on Monday after U.S. Treasury Secretary Steven Mnuchin said he hoped U.S.-China trade talks were approaching a final lap, while strong Chinese export and bank loan data boosted confidence in the global economy.
U.S. negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, according to two sources briefed on discussions, marking a retreat on a core U.S. objective for the trade talks.
Asian shares started on a firm footing on Monday and the dollar eased as risk appetite was whetted by better-than-expected data from China that helped boost confidence about the health of the world economy.
Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies provided a floor to losses.
Asia’s internet firms are challenging the region’s traditional banks for consumer finances, tapping their massive user networks for business and following a trail blazed in China by tech giants Alibaba and Tencent.
Gulfstream Aerospace and Bombardier are trotting out their longest-range business jets at an Asian air show this week, as they compete for orders from China’s growing elite, despite the country’s slowing economy.
Lyft Inc is recalling several thousand electric bikes in its bike-share program in New York, Washington and San Francisco because of a braking problem, the ride-hailing company said on Sunday.
Pilots at India’s Jet Airways have been told by their union to put off a planned strike to give its management and key lender State Bank of India time to strike a deal to keep the debt-laden airline flying, ANI reported on Sunday.
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