BANGKOK (Reuters) – Thailand’s central bank on Monday said it would end two policies that were initiated to mitigate the impact of the pandemic, including measures that supported the property sector and corporate bonds. The central bank will not extend its loan-to-value measures for the property sector, assistant governor Chayawadee Chai-Anant said on Monday. The …
Thai central bank winds down COVID era support measures Read More »
(Reuters) -The venture between Stellantis and Guangzhou Automobile Group Co (GAC) producing Jeep vehicles in China will file for bankruptcy, the companies said on Monday, after a lengthy decline for the oldest foreign auto brand in the world’s largest market. Stellantis said in a statement it had fully impaired the value of its investment in …
Stellantis Jeep joint venture in China to file for bankruptcy Read More »
BEIJING (Reuters) – Debt-laden Jiangxi Zhengbang Technology Co Ltd, formerly China’s No.2 hog producer, said on Monday that a court will start restructuring of one of its breeding businesses as it struggles to restore cashflow. Zhengbang, which embarked on an ambitious expansion during 2020 and 2021, was left with huge debts after hog prices fell …
Chinese hog supplier Zhengbang faces restructuring as creditors seek payment Read More »
TOKYO (Reuters) -Japan’s Panasonic Holdings Corp said on Monday it will start building a new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America’s fast-growing market for electric vehicles. The conglomerate’s energy unit, which supplies batteries to Tesla Inc, said in July it had picked Kansas …
Panasonic to start building Kansas battery plant next month Read More »
(Reuters) – Self-driving truck startup TuSimple Holdings Inc is being investigated by the FBI, U.S. Securities and Exchange Commission (SEC) and Committee on Foreign Investment about its relationship with China-backed Hydron Inc, the Wall Street Journal reported on Sunday. The officials are looking at whether TuSimple and its executives, specially Chief Executive Xiaodi Hou, breached …
TuSimple probed by FBI, SEC over ties to Chinese startup – WSJ Read More »
BEIJING (Reuters) – Beyonca, a start-up founded by a group of former Volkswagen executives, plans to take on the likes of Audi and BMW in China from next year with a new premium electric vehicle, betting that features such as health monitoring will appeal to buyers. Led by current Renault China CEO Soh Weiming and …
Renault-backed Beyonca EV venture touts health monitoring, targets Audi in China Read More »
By Ryan Woo and Ziyi Tang BEIJING (Reuters) – Cities in central China hastily drew up plans to isolate migrant workers fleeing to their hometowns from a vast assembly facility of iPhone maker Foxconn in COVID-hit Zhengzhou, fearing they could trigger coronavirus outbreaks. Zhengzhou, capital of central Henan province, reported 167 locally transmitted COVID-19 cases …
Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou Read More »
By JaiveerSingh Shekhawat and Mrinmay Dey (Reuters) -Hong Kong’s Cathay Pacific Airways Ltd will resume using Russian airspace on some flights, the Hong Kong-based airline said on Sunday, restarting flights it had stopped after Moscow invaded Ukraine in February. Cathay Pacific will begin flying from New York to Hong Kong using the popular “Polar route” …
Cathay Pacific to resume some flights in Russian airspace Read More »
HONG KONG (Reuters) -MGM China’s Cotai casino in Macau was locked down on Sunday after a dealer tested positive for COVID-19, city authorities in the world’s biggest gambling hub said, ordering everyone inside to stay put until Nov 1. MGM did not immediately respond to a request for comment. The closure deals a blow to …
Macau’s MGM Cotai casino locked down with guests, staff after COVID case Read More »
(Reuters) – Twitter’s new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal …
Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports Read More »
