Strong China property data masks big problem: unsold homes
BEIJING/HONG KONG (Reuters) – For an economy facing its slowest economic growth in a quarter century, a 7.7 percent year-on-year rise in new home prices in December would seem to offer China some light at the end of the tunnel.
Adidas names Henkel’s Rorsted to replace Hainer as CEO
BERLIN (Reuters) – German sportswear firm Adidas has appointed Henkel’s Kasper Rorsted as its new chief executive after the 53-year-old Dane succeeded in cutting costs and boosting profits during an eight-year reign at the consumer goods group.
Volkswagen to recall 614 Skoda Superb III cars sold in Russia
MOSCOW (Reuters) – Germany’s Volkswagen [VOWGK.UL] will voluntarily recall 614 cars of the Skoda Superb III model it had sold in Russia since 2015, Russian technical safety watchdog Rosstandart said on Monday, citing a technical fault.
Worried about sub-$20 crude? Some sellers are already there
SINGAPORE (Reuters) – An end to sanctions on Iran has driven global crude futures to 12-year lows and brought sub-$20-a-barrel oil in sight, although for some producers that is already a painful reality.
Airbus plan heralds Iran boom after sanctions lifted
DUBAI (Reuters) – A purchase of more than 100 aircraft from Europe’s Airbus may be one of Iran’s first big deals in a trade and investment boom that could reshape the economy of the Middle East.
U.S. and EU firms warn of ‘enormous’ consequences if data pact talks fail
BRUSSELS/WASHINGTON (Reuters) – The two largest American and European trade groups have warned of “enormous” consequences for thousands of businesses and millions of users if Brussels and Washington fail to wrap up talks on a data transfer pact by the …
Shell CEO says oil giant would be hit by Brexit
LONDON (Reuters) – The chief executive of one of the world’s biggest firms Royal Dutch Shell warned on Sunday that the oil and gas company would be negatively impacted were Britons to back leaving the European Union in a referendum.
Porsch, Piech families support embattled Volkswagen CEO: sources
BERLIN (Reuters) – The Porsche-Piech family clan, which control a majority of the voting rights in Volkswagen , are standing behind the company’s chief executive, insiders say, despite criticism of his handling of the emissions crisis during a U.S. vis…
China to clean-up ‘zombie’ companies by 2020: Xinhua
BEIJING (Reuters) – China’s top state-owned asset administrator has vowed to clean-up the country’s so-called “zombie” industrial companies by 2020, the official Xinhua News Agency has reported.
Blame, anger, frustration as China’s stock rescue effort looks defeated
(This Jan.15 story corrects paragraph 9 to show $5 trillion has been wiped off the capitalisation of Shanghai and Shenzhen markets combined (not only Shanghai))
