Special delivery: Automakers make plug for electric vans
TOKYO (Reuters) – In the rush toward electric vehicles, automakers are increasingly sparing a thought for the humble delivery van, an often overlooked segment with big growth potential given tightening pollution restrictions in urban areas.
Activist investors torpedo Clariant, Huntsman $20 billion merger
ZURICH (Reuters) – Swiss specialty chemicals maker Clariant and U.S. group Huntsman abandoned their $20 billion merger on Friday, notching a win for activist investors who fought against the deal for months on the grounds it would destroy shareholder …
Nippon Steel executive says to keep alliance with Kobe Steel
TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp, Japan’s biggest steelmaker, plans to keep its alliance with Kobe Steel Ltd, including cross-holding of shares, despite Kobe Steel’s admission that it had falsified quality data, an executive said.
China’s HNA in talks to buy e-commerce firm Dangdang likely valued over $1 billion: sources
HONG KONG (Reuters) – China’s HNA Group Co Ltd [HNAIRC.UL] is in talks to buy a controlling stake in E-commerce China Dangdang Inc in a deal that could value the online marketplace at over $1 billion, two people with direct knowledge of the matter told…
Wall Street loves electric cars, America loves trucks
DETROIT (Reuters) – Wall Street may love the shares of Silicon Valley electric carmaker Tesla Inc , but Americans love big, fuel-thirsty trucks like Ford Motor Co’s bestselling F-Series pickups and are paying ever higher prices to buy them.
Tesla cuts Model 3 part orders to Taiwan supplier Hota: report
TAIPEI (Reuters) – Luxury electric carmaker Tesla plans to slash by 40 percent its orders for parts for the new Model 3 mass-market sedan from Taiwanese auto component maker Hota Industrial Mfg. Co from December, according to a media report.
Clariant, Huntsman abandon $20 billion merger as opposition intensifies
ZURICH (Reuters) – Swiss specialty chemicals maker Clariant and Huntsman have agreed to abandon their proposed $20 billion merger, bowing to a growing number of shareholders who had joined activist investor White Tale to oppose the deal.
Self-driving startups race down a narrowing road
DETROIT/SAN FRANCISCO (Reuters) – Lei Xu and Justin Song once worked at electric carmaker Tesla Inc , one of the hottest companies in Silicon Valley. But with interest and investments in autonomous vehicles mounting, they left to pursue what they see a…
U.S. economy likely slowed by hurricanes in third quarter
WASHINGTON (Reuters) – U.S. economic growth probably slowed in the third quarter as hurricanes Harvey and Irma restrained consumer spending and undercut construction activity, but underlying momentum likely remained strong amid robust business investme…
Citigroup names Lo as Asia head of private banking business
HONG KONG (Reuters) – Citigroup Inc has appointed veteran Steven Lo as Asia head of its private banking business unit, replacing Bassam Salem who is retiring from that role in February, according to an internal memo seen by Reuters.
