Business & Finance News
The German government will probably not take a quick decision on whether to allow China’s Huawei to build Germany’s 5G network, a government source said on Tuesday.
Volkswagen’s Audi is considering cutting night shifts at its Ingolstadt plant, Handelsblatt reported on Tuesday, citing the head of the luxury carmaker’s works council.
China’s e-commerce giant Alibaba Group Holding Ltd has raised its stake in top domestic investment bank China International Capital Corp’s Hong Kong-listed shares to nearly 12 percent, an exchange disclosure showed on Monday.
Nestle’s success with its KitKat brand means its does not need to add new businesses after selling its candy unit to Italy’s Ferrero last year, the Swiss food group’s global head of confectionery said.
British business secretary Greg Clark will not speak at Tuesday’s EEF manufacturing conference as billed and his deputy Richard Harrington will appear instead, the Department for Business, Energy and Industrial Strategy said.
A German court on Tuesday ruled in favor of Volkswagen in a case brought by a customer seeking compensation for having bought a diesel car affected by emissions cheating, but the plaintiff’s lawyer plans to appeal.
Honda will close its only British car plant in 2021 with the loss of up to 3,500 jobs, a major departure of Japanese investment announced just over a month before the United Kingdom is due to leave the European Union.
U.S. discount retailer Payless ShoeSource Inc on Monday filed for voluntary Chapter 11 bankruptcy protection for the second time, along with its North American subsidiaries, and said it would wind down all North American stores by the end of May.
JD.com Inc, one of China’s largest e-commerce sites, will lay off 10 percent of its senior executives this year, Chinese online media outlet Sina Tech reported on Tuesday, citing unnamed sources.
A German court on Tuesday ruled in favor of Germany’s biggest carmaker Volkswagen in a case brought by a customer seeking compensation for having bought a diesel car affected by emissions cheating, a spokeswoman said.
European and Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-U.S. trade talks, while the yen dribbled lower as Japan’s central bank said it could ease policy again.
Chinese conglomerate Fosun International announced a takeover bid for troubled German clothing retailer Tom Tailor on Tuesday, further expanding its reach into Europe’s fashion sector.
Honda Motor announced on Tuesday it would shut its sole British plant by 2021, a decision the Japanese automaker said was not related to Brexit but which Britain deemed deeply disappointing.
The head of China’s Huawei Technologies in Germany told a German newspaper that the Chinese government does not get involved in the company’s business, adding the firm would work on being open and transparent in the debate about security of mobile networks.
A Mongolian regulator said it will suspend operations at KFC restaurants temporarily to conduct inquiries, as 42 people were hospitalized and hundreds showed food poisoning symptoms after eating at one of the outlets of the fast-food chain.
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