Business & Finance News
German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labor, an executive said on Tuesday.
Nissan Motor Co slashed its full-year profit forecast to its lowest in nearly a decade due to weakness in the United States, just as it adjusts to life without Carlos Ghosn and charts its future with alliance partner Renault SA.
Equity markets in Asia faltered on Wednesday amid losses in South Korea and uncertainty over China’s plans for further stimulus as the economy shows signs of regaining its footing.
British insurer Aviva said on Wednesday that Andy Briggs, head of its UK insurance business, was stepping down from the company, just weeks after missing out on its top job to newly installed Chief Executive Maurice Tulloch.
Australia’s most prominent retail shareholder group said on Wednesday it will vote against AMP Ltd’s executive pay proposals for a second straight year, adding to pressure on the board of the country’s largest listed wealth manager.
Samsung Electronics plans to invest 11 trillion won ($9.57 billion) annually through 2030 in logic chip businesses, including its foundry business, and expects the move to help create 15,000 jobs over the period.
Japan’s Softbank Group Corp will buy a 5.6 percent stake in German payments company Wirecard by acquiring convertible bonds worth around 900 million euros ($1.01 billion), Wirecard said in a statement on Wednesday.
South Korea’s Hyundai Motor reported a better-than-expected 24 percent jump in net profit for the January-to-March quarter, as improved business at home and the United States helped offset weaker sales in China.
Equity markets in Asia faltered on Wednesday, amid losses in South Korea and worries that China has put any further stimulus on hold as the economy shows signs of regaining its footing.
Samsung Electronics said on Wednesday that it would invest 11 trillion won ($9.57 billion) annually through 2030 in logic chip businesses, including its foundry business.
Nissan Motor Co Ltd could be heading for a bigger-than-expected earnings drop due to weakness in its top markets, just as it adjusts to a future without Carlos Ghosn and grapples with the outlook of its alliance with France’s Renault SA.
Didi Mobility Japan, a joint venture (JV) by China’s Didi Chuxing and SoftBank Corp, said on Wednesday that it would expand its taxi-hailing service to 13 cities across Japan.
Tesla Inc, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed.
Top U.S. lawmakers on Tuesday wrote to Google’s chief executive raising concerns about reports of a massive database known as Sensorvault that allegedly contains precise consumer location information from hundreds of millions of devices.
Japan’s SoftBank Group Corp is looking to acquire a 5 percent stake in German payments company Wirecard AG, Bloomberg reported on Tuesday, citing people familiar with the matter.
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