BERLIN (Reuters) – Mercedes-Benz Group sales in the second quarter rose 6% year-on-year – a total of 515,700 vehicles – on the back of demand for all-electric and top-end vehicles, the German carmaker said on Tuesday. Sales grew in all the carmaker’s main regions – Europe, Asia and North America – with deliveries in Germany …
Mercedes sales rise in Q2 on top-end, electric vehicles Read More »
(Reuters) -China’s Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at …
Geely, Renault strike deal to develop gasoline engines, hybrid technology Read More »
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Japanese consumers may finally be shedding their decades-old frugal mindset, spending more on items that retailers were once too afraid to raise prices on and paving the way for the central bank to finally unwind its massive monetary stimulus. The world’s third-largest economy is seeing early …
Analysis-Japan’s changing views on price hikes open door for BOJ policy tweak Read More »
BEIJING (Reuters) -Tencent’s WeChat said on Tuesday that iPhone maker Apple had opened a store on its social media platform, marking an expansion of the U.S. firm’s retail channels in the world’s second largest economy. The announcement by WeChat, China’s dominant messaging app which also provides e-commerce, livestreaming and payment services, said users would be …
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms’ Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and …
Meta’s Twitter rival Threads surges to 100 million users faster than ChatGPT Read More »
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said she believes the United States and China want to stabilize their economic ties with “candor” and “respect.” Yellen told NPR’s Marketplace in an interview taped shortly before her departure from Beijing on Sunday that she believed her trip, during which both sides discussed “significant disagreements,” had …
Yellen says US, China want to ‘stabilize’ relationship Read More »
NEW YORK/LONDON (Reuters) – Global hedge funds added more Chinese stocks to their portfolios than they sold in recent days for the first time in seven weeks, Goldman Sachs Group said in a report. The move seen in onshore and offshore shares was mainly driven by short covers, according to Goldman Sachs. It means that …
Investors buy Chinese stocks for the first time in almost two months Read More »
SHANGHAI (Reuters) – General Motors Co on Monday cut the starting price for the Cadillac Lyriq in China by almost 14%, joining Volkswagen in a new round of electric vehicle price reductions in a market where global automakers are under pressure. The Lyriq, a luxury crossover based on GM’s Ultium EV architecture, is now priced …
GM cuts Lyriq EV price in China by 14% as market pressures intensify Read More »
(Reuters) -A unit of China’s state-owned conglomerate China Merchants Group has made a $3.4 billion offer to acquire Chindata Group, as the widespread adoption of artificial intelligence technologies has boosted data center demand. U.S.-listed shares of the data center operator rose about 12% to $8.10. Chindata, which designs and operates data centers in China, India …
China Merchants’ unit makes $3.4 billion bid for Chindata Group Read More »
BEIJING/SHANGHAI (Reuters) – China’s passenger vehicle sales fell in June, data from the China Passenger Car Association (CPCA) showed on Monday, as a stumbling economic recovery made consumers more cautious about big-ticket spending. Car sales in June totalled 1.91 million units, down 2.9% from last year, the CPCA data showed. However, sales advanced 2.5% to …
China’s car sales shrink 2.9% in June as big-ticket spending falters Read More »
