Business & Finance News
French insurer AXA will move staff over to Ireland from France and the United Kingdom, in light of Britain’s plans to leave the European Union.
Britain’s biggest carmaker Jaguar Land Rover (JLR) is set to announce “substantial” job cuts in the thousands, a source told Reuters, as the company faces double-digit drops in demand in China and a slump in sales for diesel cars in Europe.
China and the United States made progress during their recent trade talks over structural issues such as forced technology transfers and intellectual property rights, China’s commerce ministry said on Thursday.
Asian shares edged up on Thursday on a weaker dollar and hopes of more economic stimulus in China, but many stocks seesawed as markets awaited some details on this week’s U.S.-China trade talks amid hopes an all-out trade war can be averted.
Britain’s biggest carmaker Jaguar Land Rover (JLR) is set to announce “substantial” job cuts in the thousands, a source told Reuters, as the company faces double-digit drops in demand in China and a slump in sales for diesel in Europe.
Asian shares edged up on Thursday as stimulus expectations and a rise in the yuan helped Chinese equities erase early losses, while markets awaited more news on U.S.-China trade talks amid hopes that an all-out trade war can be averted.
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.
Global automakers are planning a $300 billion surge in spending on electric vehicle technology over the next five to 10 years, with nearly half of the money targeted at China, accelerating the industry’s transition from fossil fuels and shifting power to Asian battery and electric vehicle technology suppliers.
Japanese prosecutors plan to indict former Nissan Motor Co Ltd Chairman Carlos Ghosn on two more charges of financial misconduct on Friday, a person with knowledge of the issue said, bringing the total number to three.
(This January 4 story has been corrected to remove incorrect reference to the Woolsey fire)
Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U.S. department store operator will escape liquidation.
Asian shares took a breather on Thursday after an extended rally, as markets awaited more news on U.S.-China trade talks that have raised hopes of a deal to avert an all-out trade war between the economic giants.
Federal Reserve policymakers have indicated they may be open to tweaking a longstanding plan to shrink the central bank’s balance sheet, including by shedding housing-backed bonds earlier than anticipated or keeping a bigger-than-expected portfolio of assets.
Gasoline shortages in Mexico sparked by a crackdown on fuel theft prompted warnings from business leaders that industries like carmaking will suffer if the shortfalls persist as lines at gas stations in the capital grew on Wednesday.
Volkswagen AG and Ford Motor Co will unveil a deeper alliance next week that goes beyond cooperating in commercial vehicles in a move meant to save the automakers billions of dollars as they develop new technologies, two people familiar with the plan said on Wednesday.
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