Hostile takeover? Daimler CEO says no fears about Chinese magnate Li Shufu
BEIJING (Reuters) – German car maker Daimler AG’s boss said on Wednesday there was no indication the firm’s largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover after he took a $9 billion stake in the firm earlier this y…
Global banks fear China will limit JV control through new rules
HONG KONG/SHANGHAI (Reuters) – Western banks are seeking clarification from China’s securities watchdog on proposals to allow them to take over their onshore securities ventures, amid concerns about high asset value requirements and limits to ownership…
Google overhauls Gmail to lure businesses away from Microsoft
SAN FRANCISCO (Reuters) – Alphabet Inc’s Google unveiled on Wednesday its first Gmail redesign since 2013, capping what the company says was an expensive overhaul two years in the making to adopt security and offline functionality and better resemble …
Whitbread to spin off Costa Coffee
LONDON (Reuters) – Whitbread plc said it would spin off Costa Coffee, Britain’s biggest coffee chain, saying it could thrive as a separately listed business.
Asian shares rattled by rising U.S. yields, cost worries
TOKYO (Reuters) – Asian shares fell on Wednesday as a rise in U.S. bond yields above 3 percent and warnings from bellwether U.S. companies of higher costs drove fears that a boom in corporate earnings may be near its peak.
‘Small-town kids’ shape future of China’s consumption
XINXIANG, China (Reuters) – The bright lights of Beijing or Shanghai have never held much allure for Wu Tongxu, a 24-year-old civil servant earning a modest salary in the nondescript city of Xinxiang in China’s central Henan province.
Ford hopes China easing will speed up Zotye venture approval
BEIJING (Reuters) – Ford Motor Co’s Asia head said on Wednesday he hoped recent Chinese moves to relax ownership rules in the country’s auto market would speed up regulatory approval for its electric vehicle joint venture with local firm Zotye Automob…
Credit Suisse posts first-quarter profit beat
ZURICH (Reuters) – Credit Suisse on Wednesday reported 694 million Swiss francs ($707.4 million) in first-quarter net income, its best quarter since Chief Executive Tidjane Thiam launched a three-year restructuring plan for Switzerland’s second-biggest…
SoftBank to move ride-hailing stakes worth $20 billion to Vision Fund: FT
(Reuters) – Japan’s SoftBank Group plans to shift more than $20 billion of its investments in top ride-hailing companies including Uber Technologies Inc [UBER.UL], Ola, Grab and Didi Chuxing into its Saudi-backed Vision technology fund, the Financial …
Daimler CEO: no sign of hostile takeover by top shareholder Li Shufu
BEIJING (Reuters) – German car maker Daimler AG’s boss said on Wednesday there was no indication the firm’s largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover, after he took a $9 billion stake in the firm earlier this …
