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The China metal exchange at center of investment scandal
By David Stanway KUNMING, China (Reuters) – The plain four-storey Fanya exchange building in this southern Chinese city is teeming with investigators trying to understand how an obscure metal trading business turned into one of China's most audacious investment schemes. Tucked behind an upmarket shopping mall, the Fanya Exchange was founded in 2011 with the … Here is the original: The... [Read more]
Ford to invest $4.5 billion more in electric car plan by 2020
Ford Motor Co plans to invest an additional $4.5 billion by 2020 in programs to broaden its offerings of hybrids and electric vehicles, Chief Executive Officer Mark Fields said Thursday. Fields said it will launch late next year a new version of its Ford Focus electric car that has a 100-mile range and can recharge in 30 minutes. Ford also plans to add 13 new plug-in hybrid, hybrid or … Read... [Read more]
VW CO2 manipulations affect far fewer cars than reported: sources
Volkswagen's investigations have shown that the carmaker has understated carbon dioxide (CO2) emissions of far fewer cars than originally expected, two sources at the company said on Wednesday. VW said last month it had falsified fuel usage and CO2 emissions in about 800,000 cars sold mainly in Europe, and was expecting costs of at least 2 billion euros ($2.19 billion) including compensation... [Read more]
Dow Chemical, DuPont in merger talks: sources
Dow Chemical Co and DuPont are in talks to merge, creating a chemicals giant with a market value of more than $120 billion that could then break up into different businesses, people familiar with the matter said on Tuesday. Following what would be structured as a merger of equals, the combined company could split into material sciences, specialty products and agrochemicals, the people said, cautioning... [Read more]
‘Gigantic’ creator layoffs show that MOBA games aren’t easy
With Blizzard, Riot and seemingly everyone else making a multiplayer online battle arena (MOBA) game, the field is getting pretty crowded… and unfortunately, it’s clear that some of those developers … Read the rest here: ‘Gigantic’ creator layoffs show that MOBA games aren’t easy Read More →
U.S. car makers count among Pacific trade pact skeptics
U.S. auto makers are unlikely to win a much bigger share of the Japanese vehicle market despite a bid to break down trade barriers under a new Pacific trade pact, a key advisory committee found, highlighting the difficulties ahead in winning votes for the deal through Congress. Car makers joined Go here to read the rest: U.S. car makers count among Pacific trade pact skeptics Read More →
First GM China-made import to U.S. to go on sale in mid-2016
By next summer, the Buick Envision small SUV will become the first General Motors Co model imported from China to be sold in the United States, the company said on Friday. Reuters reported in August that by 2017 most Buick's U.S. sales could be of models produced in either China or Europe. The Envision will give Buick three “crossover” vehicles in the U.S. market. Read the original post: First... [Read more]
Fed’s Yellen faces battle in 2016 after getting all clear for December hike
WASHINGTON/PHILADELPHIA (Reuters) – Federal Reserve Chair Janet Yellen has the evidence of U.S. labor market health she wanted in order to raise benchmark interest rates for the first time in a decade this month, but she may have a tougher time selling further hikes. Federal funds futures contracts imply a 79-percent chance that the Fed will end seven years of near-zero interest rates at its... [Read more]
U.S. employment report a green light for Fed interest rate rise
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment increased at a healthy pace in November, in another sign of the economy's resilience, and will most likely be followed by the first Federal Reserve interest rate rise in a decade later this month. Nonfarm payrolls rose Original post: U.S. employment report a green light for Fed interest rate rise Read More →
EU questions McDonald’s tax deals with Luxembourg
EU antitrust regulators will investigate McDonald's tax deals with Luxembourg which enabled the U.S. fastfood chain to escape paying taxes on European franchise royalties from 2009, in a move which could lead to hefty back taxes for the company. The action by the European Commission comes two months after it ordered Luxembourg to recover up to 30 million euros ($31.7 million) from Fiat Chrysler... [Read more]