Hyundai, South Korea eye deal on low-cost carmaking venture despite union dissent
South Korea’s Hyundai Motor and a local government partner are aiming to sign a final deal this week on a low-cost carmaking joint venture despite stiff opposition from labor unions who fear the move would cause job losses and cut wages.
Hyundai Motor’s South Korean workers to strike Thursday: union source
Hyundai Motor’s South Korean union will stage a four-hour strike on Thursday to protest against the automaker’s move to set up a low-cost carmaking joint venture, a union source told Reuters.
Nissan board ‘should have known’ about Ghosn issues: governance activist
A leading corporate governance advocate said the board of Japanese carmaker Nissan must accept collective responsibility over alleged disclosure failings that led to the ousting of chairman Carlos Ghosn.
China’s BAIC stock sinks on report Daimler may raise joint venture stake
BAIC Motor Corp Ltd’s shares slumped as much as 13.5 percent on Wednesday following a media report saying Germany’s Daimler AG was considering increasing its stake in its joint venture with the Chinese automaker.
Stocks retreat as falling U.S. yields, trade worries sour mood
Asian stocks slid across the board on Wednesday, dragged down by Wall Street’s tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth.
Oil prices slip on global growth concerns, swelling U.S. supply
Oil prices fell on Wednesday, pulled down by swelling U.S. inventories and a plunge in global stock markets as China’s government warned of increasing economic headwinds.
Exclusive: China’s Unipec to buy U.S. crude oil after Xi-Trump trade truce
Chinese oil trader Unipec plans to resume U.S. crude shipments to China by March after the Xi-Trump deal at the G20 meeting reduced the risk of tariffs being imposed on these imports, three sources with knowledge of the matter said.
China confident it can clinch U.S. trade pact, Trump demands ‘real deal’
China expressed confidence on Wednesday that it can reach a trade deal with the United States, despite fresh warnings from President Donald Trump that he would revert to more tariffs if the two sides cannot resolve their differences.
CBS internal report finds Moonves obstructed probe: NY Times
Leslie Moonves, who resigned as the top executive of CBS Corp in September amid a wave of claims of sexual misconduct, destroyed evidence and misled an internal investigation, the New York Times reported on Tuesday, citing a draft of an internal report…
Takeda shareholders give nod for $59 billion Shire acquisition
Takeda Pharmaceutical shareholders approved on Wednesday its $59 billion takeover of London-listed Shire , creating a global powerhouse with a stronger drugs pipeline but one that is saddled with massive debt.
