SHANGHAI (Reuters) -Tesla Inc plans to suspend most production at its Shanghai plant in the first two weeks of July to work on an upgrade of the site, according to an internal memo seen by Reuters. After the upgrade, the U.S. automaker aims to boost the plant’s output to a new record high by the …
Exclusive-Tesla plans 2-week suspension for most Shanghai production for upgrade – memo Read More »
By Makiko Yamazaki, Kane Wu and Scott Murdoch TOKYO/HONG KONG (Reuters) -Bidders for Toshiba Corp are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion. Toshiba, which is exploring strategic options, said this …
Exclusive-Bidders weigh offers valuing Toshiba at up to $22 billion-sources Read More »
By Clare Jim HONG KONG (Reuters) – Chinese state-backed Greenland Holdings Corp Ltd was on Wednesday downgraded to “selective default” by rating agency S&P Global, after the property developer extended the maturity of its $500-million bonds by one year. Shanghai-based Greenland is the first state-backed developer to extend a dollar-bond payment since the country’s property …
S&P cuts Chinese state-backed developer Greenland to ‘selective default’ Read More »
HONG KONG/SHANGHAI (Reuters) – Cash-strapped property developer Sunac China is talking to investors about a second extension on part of an onshore bond payment due at the end of this month, two people with knowledge of the matter said on Wednesday. It is rare that a firm seeks to extend a payment again within a …
China’s Sunac seeks second extension on onshore bond payment -sources Read More »
SHANGHAI (Reuters) – Retail car sales in China jumped 55% during June 13 to June 19 compared with the same period in May, data from the China Passenger Car Association (CPCA) showed. Sales of passenger vehicles in that period rose to 416,000 units, up 39% from a year earlier, the association said on Wednesday. China …
China auto industry body reports 55% jump in car retail sales in June 13-19 Read More »
STOCKHOLM (Reuters) – A Swedish appeals court on Wednesday upheld a ruling by a lower court that bans Chinese telecoms company Huawei from selling 5G equipment in the Nordic country. In 2020, Swedish telecom regulator PTS unexpectedly banned Huawei supplying 5G equipment to Swedish mobile firms due to security concerns raised by Sweden’s security service …
Swedish court upholds ban on Huawei sale of 5G gear Read More »
STOCKHOLM (Reuters) – A Swedish appeals court on Wednesday upheld a ruling by a lower court that bans Chinese telecoms company Huawei from selling 5G equipment in the Nordic country. In 2020, Swedish telecom regulator PTS unexpectedly banned Huawei supplying 5G equipment to Swedish mobile firms due to security concerns raised by Sweden’s security service …
Swedish court upholds ban on Huawei sale of 5G gear Read More »
TOKYO (Reuters) -Toyota Motor Corp on Wednesday cut its July global production plan by 50,000 vehicles as semiconductor shortages and COVID-19 parts supply disruptions continued to curb output. The world’s largest car maker by volume expects to make 800,000 vehicles next month, it said in a statement. “As it remains difficult to look ahead due …
Toyota cuts July global production plan by 50,000 vehicles Read More »
KUALA LUMPUR (Reuters) – Malaysian Prime Minister Ismail Sabri Yaakob on Wednesday said the government would distribute 1.74 billion ringgit ($395.19 million) to low-income households from this month amid rising living and food costs. Malaysia may also increase subsidies for cooking oil from the planned 4 billion ringgit this year, Ismail Sabri said in a …
Malaysia to distribute nearly $400 million in cash aid amid rising prices Read More »
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka will call China, India and Japan to a donor conference to drum up more foreign assistance to find a way out of its worsening economic crisis, the prime minister said on Wednesday, amid ongoing talks with the International Monetary Fund (IMF). The island nation of 22 million …
Crisis-hit Sri Lanka plans donor conference with China, India and Japan Read More »
