Business News

Robyn Denholm will replace Elon Musk as chair of Tesla Inc , CNBC reported on Thursday.

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China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.

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Asian stocks scaled a one-month peak on Thursday, after investors drove a Wall Street rally on relief the U.S. midterm elections delivered no major political surprises, while the dollar bounced and pulled away from 2-1/2-week lows.

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Mazda Motor Corp on Thursday said it planned to recall around 640,000 vehicles globally to fix issues including a problem with the valve springs used in its diesel engines.

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Toshiba Corp is liquidating its British nuclear power unit and selling its U.S. liquefied natural gas (LNG) business, as the once-mighty industrial conglomerate seeks to unload troubled assets and regain investors’ confidence.

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Japan’s Toshiba Corp said on Thursday it will pay more than $800 million to an unidentified overseas “buyer” to exit its U.S. liquefied natural gas (LNG) business as part of a five-year plan to shed money-losing assets.

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Securities lending by investment funds has reached its highest level in a decade, as demand for corporate bonds surged more than 30 percent over the past 18 months and short selling of Tesla and Alibaba shares reaches a frenzy.

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Chinese PC maker Lenovo Group reported a 21 percent rise in second-quarter net profit, beating expectations, thanks to more premium computers it sold during the period.

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Struggling Australian wealth manager AMP Ltd fears any new regulation of the finance sector would “distract” participants from acting ethically, it said on Thursday, striking a defiant tone after months of damaging allegations.

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Alibaba Group’s newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds, people with knowledge of the situation told Reuters.

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Walmart Inc said it would start offering holiday deals for customers as early as Thursday, as it prepares to compete with Amazon Inc , Target Corp and other rivals for shoppers on one of the busiest shopping days of the year.

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Ford Motor Co said Thursday it will join the mushrooming micro-mobility movement with the acquisition of 2-year-old Spin, an electric scooter rental firm based in San Francisco.

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Chinese PC maker Lenovo Group reported a 21 percent rise in quarterly net profit, beating expectations, thanks to more premium computers it was able to sell.

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Japan’s Toshiba Corp said on Thursday it is exiting its U.S. liquefied natural gas (LNG) business and paying an overseas “buyer” it did not identify $800 million to assume its commitment to purchase 2.2 million tons per year of the fuel from Freeport LNG in Texas.

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Starbucks Corp said on Wednesday it was partnering with UberEats to deliver coffee and food in Tokyo starting Friday, as the world’s largest coffee chain looks to boost sales in Japan, one of its major Asia-Pacific markets.

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