Automakers charge ahead with electrics in China, even as policy drive slows
SHANGHAI (Reuters) – China’s auto industry is charging ahead with aggressive plans to electrify cars even as policymakers scale back subsidies aimed at building sales from relatively low levels and consider tapping the brakes on sales quotas for plug-i…
VW plans to launch electric car in China next year
SHANGHAI (Reuters) – Volkswagen’s China Chief Jochem Heizmann said the carmaker plans to launch a pure battery electric vehicle in China this year amid continued uncertainty over how China’s electric car quotas will be applied.
UnitedHealth plans for costly Obamacare tax in 2018
(Reuters) – UnitedHealth Group Inc reported stronger-than-expected quarterly results on Tuesday and said it was coping with uncertainty in U.S. healthcare laws by pricing its 2018 insurance plans to include a costly Obamacare tax.
FGL terminates takeover deal by Chinese insurer Anbang
SHANGHAI – U.S. annuities and life insurer Fidelity & Guaranty Life (FGL) said on Tuesday it has terminated its agreement to be acquired by Anbang Insurance Group Co Ltd [ANBANG.UL], becoming the latest deal involving the Chinese insurer to have fallen through in recent years.
South Korea’s Daewoo Shipbuilding unlocks $2.6 billion bailout after bondholder approval
SEOUL (Reuters) – South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world’s biggest shipbuilder.
Credit Suisse pay revolt rumbles on even after concessions
ZURICH (Reuters) – Credit Suisse has failed to completely quash a shareholder revolt over payouts to the bank’s senior managers, even after offering to cut bonuses for top management by 40 percent and a pay freeze for its board of directors.
U.S. business group urges Washington to ‘use every arrow’ against China
BEIJING (Reuters) – The United States should “use every arrow” in its quiver to ensure a level commercial playing field in China, a U.S. business lobby said on Tuesday, warning that 2017 could be the toughest year in decades for American firms in the c…
Most major Western leaders to skip China’s New Silk Road summit
BEIJING (Reuters) – Only one leader of a big Western country is attending China’s most important diplomatic event of the year, a summit next month on President Xi Jinping’s New Silk Road strategy, as China’s foreign minister denied it had been snubbed….
Japan government fund, bank mull bid with Broadcom for Toshiba chip unit: media
TOKYO (Reuters) – A Japanese government-backed fund and policy bank are considering a joint bid with Broadcom Ltd for Toshiba Corp’s semiconductor business, a move that would vault the U.S. chipmaker into the lead to buy the prized unit, the Asahi ne…
U.S. top court mulls time bars for SEC recovery of ill-gotten profits
WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday will hear oral arguments in a case that has the potential to scale back the Securities and Exchange Commission’s ability to recover illegal profits earned as a result of fraud or other wrongdoing…
