Daimler to open new R&D center in China to accelerate localization
German automaker Daimler AG said on Wednesday it plans to invest 1.1 billion yuan ($158.23 million) in a second research and development center in Beijing to help accelerate localization of Mercedes-Benz vehicle models in China.
Euro under pressure as Italy sticks to deficit target in budget
The euro struggled below $1.13 on Wednesday as Italy stuck to its deficit target in a re-submitted draft budget and after confirmation that the euro zone economy grew at its slowest pace in four years in the third quarter.
South Korea regulator says Samsung BioLogics intentionally breached accounting rules
South Korea’s top financial regulator on Wednesday said it found Samsung BioLogics Co Ltd intentionally breached accounting rules in inflating the company’s value ahead of its 2016 stock exchange listing.
Singapore Airlines finds premium economy a tougher sell on new non-stop U.S. flights
Singapore Airlines Ltd is facing no problem selling business-class tickets on its ultra-long non-stop flights to the United States but is having to price premium economy seats very attractively, a senior executive said on Wednesday.
Oil struggles to find footing after 7 percent slide as outlook darkens
Oil struggled to find its footing on Wednesday after plunging 7 percent the previous session, with surging supply and the specter of faltering demand scaring off investors.
Crude oil extends steep dive, stocks fall on growth fears
Oil prices extended a steep slide on Wednesday on the back of worries about weakening world demand and oversupply, while global shares sagged as energy sector strains heightened anxiety about a slow down in the global economy.
FAA, Boeing study need for 737 MAX software changes after crash
The U.S. Federal Aviation Administration and Boeing Co are evaluating the need for software or design changes to 737 MAX jets in the wake of last month’s deadly Lion Air crash in Indonesia, the regulator said on Tuesday.
Weaker retail sales loom over China’s economy despite some bright spots
China delivered a mixed economic report card for October on Wednesday as softening retail sales pointed to a consumption slowdown, even as a pick-up in industrial output and investment suggested support measures may be starting to take hold.
Oil extends slide from 7 percent slump the day before as outlook darkens
Oil markets slipped again on Wednesday, extending losses from a 7 percent plunge the previous session as surging supply and the specter of faltering demand scared off investors.
FAA denies report on new probe of Boeing’s safety analyses on 737 MAX
The U.S. aviation regulator denied on Tuesday a report that it had launched a new probe of the safety analyses performed over the years by Boeing Co on its 737 MAX models, following the crash of a Lion Air jet in Indonesia last month.
