By David Shepardson WASHINGTON (Reuters) -The U.S. House of Representatives narrowly voted on Thursday to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S. electric vehicle tax credits. The House voted 217 to 192 to approve the bill, which has not been taken up by the Senate, to tighten the definition …
US House passes bill targeting China that would limit EV tax credits Read More »
By David Shepardson and Nora Eckert WASHINGTON/DETROIT (Reuters) -General Motors is in talks to buy electric vehicle batteries that would use technology from China’s CATL and be assembled at a new plant in the United States, a person briefed on the matter confirmed on Thursday. Crosstown rival Ford Motor already plans to license CATL technology …
GM in talks to buy EV batteries built with Chinese tech in US, source says Read More »
By Praveen Paramasivam SRIPERUMBUDUR (Reuters) -Samsung Electronics employees will continue their strike for the fifth day after a meeting on Thursday between their union, the company’s management and the state government could not reach any settlement, a union leader told Reuters. Appliances including televisions, refrigerators and washing machines are made at the plant, which contributes …
Samsung workers to continue India plant strike after talks end without deal Read More »
(Reuters) – China is poised to cut interest rates on more than $5 trillion of outstanding mortgages as early as this month, Bloomberg News reported on Thursday, citing people familiar with the matter. Some banks are making final preparations to get ready for the upcoming adjustments on mortgage rates, the report said, adding that some …
BEIJING (Reuters) – China’s Commerce Minister Wang Wentao will visit Europe in the coming days for discussions on the European Union’s anti-subsidy case against China-made electric vehicles (EVs) as a vote on imposing more EV tariffs looms. Wang will hold talks with the European Commission’s Executive Vice President and Trade Commissioner Valdis Dombrovskis on Sept. …
China’s commerce minister to visit EU as EV tariff vote looms Read More »
MILAN (Reuters) – Chinese carmaker Chery Auto is ready to spend billions of euros to ensure its Omoda and Jaecoo brands are embraced by European customers within three years, the head of the two brands for the Italian market told Reuters. Chery Auto is launching Omoda and Jaecoo in Europe this year, with an initial …
China’s Chery plans investment drive to build Omoda, Jaecoo brands in Europe Read More »
By Alexandra Alper and David Shepardson WASHINGTON (Reuters) -A top Nippon Steel executive and U.S. Steel’s CEO are meeting with senior U.S. officials on Wednesday in an effort to salvage Nippon’s $14.9 billion bid for U.S. Steel, a person familiar with the matter said. The meeting, including Takahiro Mori, a key Nippon negotiator on the …
Nippon Steel, U.S. Steel make last-ditch effort to win US nod, source says Read More »
SEOUL (Reuters) – A board member of South Korea’s central bank said economic growth and financial stability are key factors for the monetary policy board to consider as it determines the timing and pace of interest rate cuts. “We should simultaneously consider the impact of interest rate cuts on growth and financial stability,” Hwang Kun-il, …
Bank of Korea board member says growth, financial stability are key to rate cuts Read More »
SEOUL (Reuters) – South Korea’s financial regulatory agency said on Thursday that authorities intend to fully lift a ban on the short-selling of stocks in March next year, marking the first time this has been done in five years. “We will aim to fully resume short-selling at the end of March next year by amending …
South Korea to fully lift short-selling ban in March 2025, regulator says Read More »
By Leika Kihara OKAYAMA, Japan (Reuters) -The Bank of Japan must raise interest rates to at least 1% as soon as the second half of next fiscal year, hawkish policymaker Naoki Tamura said on Thursday, reinforcing the bank’s resolve to persist with steady monetary tightening. It was the first time a BOJ policymaker publicly specified …
Hawkish BOJ policymaker calls for rates to rise to at least 1% Read More »
