Chinese automaker Geely has agreed to extend its existing partnership with Proton Holdings Berhad to upgrade the Malaysia carmaker’s line-up of cars and power Proton go beyond Malaysia, part of an ongoing effort to help Proton establish a presence in China and other international markets.
Business Category Archive
A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s near-decade long rally may be low on fuel.
The Chief Financial Officer of Infosys Ltd has tendered his resignation just seven months after India’s second-biggest software services exporter appointed a new Chief Executive Officer.
Go-Jek, Indonesia’s first billion-dollar startup, is “extremely close” to achieving profitability in all its segments, except transportation, its founder and CEO Nadiem Makarim told Reuters.
The U.S. government is trying to force Facebook Inc to break the encryption in its popular Messenger app so law enforcement may listen to a suspect’s voice conversations in a criminal probe
Chinese content aggregator Qutoutiao Inc, which is backed by technology giant Tencent Holdings Ltd, filed for an initial public offering of up to $300 million with the U.S. Securities and Exchange Commission on Friday.
Turkey’s battered lira weakened more than 6 percent against the dollar on Friday, after a U.S. warning that Ankara should expect more economic sanctions unless it hands over the detained American evangelical pastor Andrew Brunson.
Jittery Venezuelans on Friday rushed to shops and formed long lines in preparation for a monetary overhaul that will remove five zeros from prices in response to hyperinflation that has made cash increasingly worthless.
U.S. stock index futures dipped on Friday as dour forecasts from Applied Materials and Nvidia weighed on shares of chipmakers and a recovery in Turkey’s lira ran out of steam.
Mexico’s economy minister Ildefonso Guajardo said on Friday he hopes to conclude by the middle of next week outstanding bilateral issues with the United States surrounding the renegotiation of the North American Free Trade Agreement (NAFTA).
Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.
A company owned by Elon Musk that is trying to lower the cost of building high-speed transit tunnels has asked the Trump administration to exempt it from tariffs for some Chinese-made tunnel boring machine components, warning the tariffs could significantly delay a planned tunnel between New York and Washington.
Electric carmaker Tesla Inc’s premium Model 3 sedan will not produce better profit margins than a conventional BMW and the company could actually lose $6,000 on every base model due to higher costs for the powertrain, according to an analyst at UBS.
The Trump administration is close to striking a deal with Mexico on a revamped North American Free Trade Agreement, analysts said, but thorny issues are yet to be resolved with Canada, the third party in the trilateral pact.
Tyson Foods agreed to acquire U.S.-based chicken processor Keystone Foods from Brazilian meatpacker Marfrig Global Foods SA for $2.5 billion, two sources with knowledge of the matter said on Friday.
Less reporting by U.S. corporations could put shareholders in the dark, allow companies to drift off course and even make U.S. stocks less attractive and create less public company investment, some investors and analysts argue.
Nvidia Corp forecast third-quarter revenue below Wall Street estimates on Thursday, overshadowing a profit beat and sending its shares down nearly 6 percent in extended trading.
Goldman Sachs Group Inc is facing a probe from U.K. regulators over its reporting practices tied to new rules in European markets, Bloomberg reported on Friday, citing people with knowledge of the matter.
Several Tesla Inc shareholders have told Reuters they are concerned that the electric car maker will have to pay more to fund its growth if it becomes a private company and loses the ability to sell new shares to stock market investors.
Rovio Entertainment , the maker of the “Angry Birds” mobile game series and movie, on Friday reported an increase in second-quarter sales at its games business, providing a positive sign for investors after a profit warning in February.
Greece exits the last of its three bailouts on Aug. 20 and hopes to be able to borrow again in international markets after a nearly nine-year debt crisis that shrank the economy by a quarter and forced it to implement painful austerity measures.
The summer roller-coaster in two of the four big-cap ‘FANG’ names – Facebook Inc, Amazon.com Inc, Netflix Inc and Google-parent Alphabet Inc – has led to a shift, albeit slight, into value stocks.
Uber [UBER.UL] the global ride-hailing company, is considering expanding into two other East African countries before the end of 2018, focusing on low cost services like Chap Chap in Kenya, the company said on Friday.
Elon Musk’s rocket company, SpaceX, could help fund a bid to take electric car company Tesla Inc private, the New York Times reported on Thursday, quoting people familiar with the matter.
Ride-hailing company Uber Technologies Inc plans to open a 250 million-reais ($64-million) center in Brazil that will research technology to make it safer for its drivers to accept cash, a key payment method in its rapid expansion in Latin America, the company said Friday.
A Malaysian financier wanted for his role in the multi-billion-dollar scandal at state fund 1MDB has said he does not expect to get a fair hearing anywhere and will not present himself to any country where his guilt has been predetermined.
Fears of e-commerce taking off in Brazil have sunk shares of the country’s big mall operators this year, but industry executives expressed confidence that local shopping habits, the reputation of malls as public spaces safe from crime and other factors will help them avoid the shakeout that has hit their U.S. peers.
Bank lending to high-quality US companies to fund acquisitions has slowed due to concern over government policies amid the summer doldrums, but is expected to pick up after the Labor Day holiday, bankers said.
Britain’s markets watchdog has so far been contacted by only one company interested in taking advantage of a rule it introduced to attract state-owned firms like Saudi Aramco
Cryptocurrency scams are using images of celebrities and upmarket London addresses to hoodwink consumers into parting with cash, Britain’s Financial Conduct Authority said on Friday.
Platinum prices tumbled to 10-year lows as the collapse of Turkey’s lira rippled through markets and weakened the currency of top producer South Africa, underlining persistent oversupply of the autocatalyst metal.
Investors pulled billions from equities this week, shifting into bonds and high dividend-yielding sectors as Turkey’s currency crisis sparked a global selloff and emerging markets entered bear territory, an analysis of fund flows showed on Friday.
Stiff new U.S. sanctions against Russia would only have a limited impact on its oil industry because it has drastically reduced its reliance on Western funding and foreign partnerships and is lessening its dependence on imported technology.
America’s two biggest independent seed sellers, Beck’s Hybrids and Stine Seed, told Reuters they are pushing U.S. environmental regulators to bar farmers from spraying dicamba weed killer during upcoming summers in a potential blow to Bayer AG’s Monsanto Co.
Japan’s Toyota Motor Corp <7203.T> will build additional capacity at its auto plant in China’s Guangzhou, a company source said, in addition to beefing up production at a factory in Tianjin city by 120,000 vehicles a year.
Google’s plan to launch a censored search engine in China requires more “transparency, oversight and accountability,” hundreds of employees at the Alphabet Inc unit said in an internal petition seen by Reuters on Thursday.
Turkish fixed-line operator Turk Telekom said on Friday that it clinched a cooperation deal with Vestel after President Tayyip Erdogan called on Turks to use locally-made mobile phones instead of Apple’s iPhone.
Russia’s sanctions-hit aluminum giant Rusal <0486.HK> said on Friday its board had discussed and approved a change of domicile from Britain’s Jersey to Russia in order to take advantage of new special tax regulations.
An Australian teenager has pleaded guilty to hacking into the main computer network of technology giant Apple Inc , downloading big internal files and accessing customer accounts, because he was a fan of the company, local media reported.
An employee fired from Tesla Inc’s Nevada battery factory filed a whistleblower complaint with the U.S. Securities and Exchange Commission, accusing the company of spying on employees and failing to act after learning that a Mexican cartel may be dealing drugs inside the plant, his attorney said on Thursday.
Oil prices fell on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products.
U.S. stock index futures rose on Thursday, helped by upbeat earnings, a dip in the dollar and after China said it will hold trade talks with the United States later this month.
OxyContin maker Purdue Pharma LP has tapped law firm Davis Polk & Wardwell LLP for financial restructuring advice, as its potential liabilities swell with a wave of lawsuits over the opioid addiction epidemic sweeping the United States, people familiar with the matter said on Thursday.
Electric vehicle-maker Tesla Inc is taking the Ontario government to court over the Canadian province’s cancellation of an electric vehicle incentive program, according to documents filed in court on Aug. 10.
Applied Materials Inc, the world’s largest supplier of equipment used to make chips, reported a 19.3 percent rise in quarterly revenue on Thursday as chipmakers ramped up spending to meet rising demand for memory from smartphone makers.
Upscale department store Nordstrom Inc
White House counsel Don McGahn called the head of Federal Communications Commission in July to ask about the status of Sinclair Broadcast Group Inc’s now abandoned $3.9 billion acquisition of Tribune Media Co .