GM confirms Indonesia factory plan with China’s SAIC Motor
SHANGHAI (Reuters) – General Motors said on Monday that one of its Chinese ventures plans to establish manufacturing operations in Indonesia to take advantage of growth in Southeast Asia’s biggest vehicle market.
China January HSBC factory PMI contracts for second month
SHANGHAI (Reuters) – Activity in China’s factory sector shrank for the second straight month in January, a private business survey showed on Monday, as the new year got off to a rocky start for the world’s second-largest economy.
Justice Department probing Moody’s for mortgage deal grades: WSJ
(Reuters) – The U.S. Department of Justice is investigating Moody’s Investors Services for issuing favorable grades on mortgage deals in the lead-up to the financial crisis, the Wall Street Journal reported on Sunday, citing people familiar with the si…
Obama targets foreign profits with tax proposal, Republicans skeptical
WASHINGTON (Reuters) – President Barack Obama’s fiscal 2016 budget will seek new taxes on trillions of dollars in profits accumulated overseas by U.S. companies, and a new approach to taxing foreign profits in the future, but Republicans were skeptical…
CRH confirms $7.34 billion deal to buy assets from Lafarge SA, Holcim: WSJ
(Reuters) – Irish building materials company CRH Plc confirmed that it agreed to pay $7.34 billion for assets from cement companies Lafarge SA and Holcim Ltd , the Wall Street Journal reported on Sunday.
Ford CFO says sees ongoing problems in Russia: Handelsblatt
FRANKFURT (Reuters) – The finance chief of Ford Motor Co expects ongoing problems in Russia where the decline of the rouble and the struggling economy was weighing on its market share, according to German newspaper Handelsblatt.
Fed’s ‘solid’ growth view faces test as Greek drama unfolds
BRUSSELS (Reuters) – The Federal Reserve’s upgraded view that growth in the world’s biggest economy is “solid”, and so capable of withstanding an interest rate rise this year, will be put to the test by U.S. jobs data this week.
GM and China’s SAIC to push into Indonesia with no-frills vans
BEIJING (Reuters) – General Motors and Chinese partner SAIC Motor Corp will soon announce a joint push into Indonesia, using their no-frills Wuling brand to establish a beachhead in Southeast Asia’s biggest market and from there tackle other markets in the region.
China factory sector jolts by shrinking in January
BEIJING (Reuters) – China’s factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January and firms see more gloom ahead, an official survey showed, raising expectations that policymakers will take more action to forestall a sh…
U.S. regulators recall 2.1 million vehicles in new air bag issue
(Reuters) – The auto industry’s air bag troubles deepened on Saturday as U.S. federal safety regulators said three big automakers will recall about 2.1 million older vehicles to fix defects that could cause air bags to deploy when they are not supposed…
