The logo of Volkswagen is seen at their plant in Wolfsburg, Germany. Reuters
Volkswagen is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into Anhui Jianghuai Automobile Group (JAC Motors) is the latest by foreign automakers to boost ownership
China’s commercial capital of Shanghai is still far from its goal of becoming a global financial hub by 2020 due to hurdles such as capital controls and a lack of consistent rules, a report by a US business lobby group said on Thursday.
Sales of sports utility vehicles (SUVs) and cost cuts helped Volkswagen (VW) shrug off a 1 billion euro legal charge and meet first-quarter operating profit forecasts on Thursday, sending its shares 3.3 per cent higher. Earnings before interest and taxes (EBIT) fell to 3.9 billion euros ($4.37 billion) from 4.2 billion a year earlier but were in line with the 3.92 billion euros expected by analysts.
China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus
Carrefour will open its first store in Uganda this year, expanding in the region after a successful launch in neighbouring Kenya, the Dubai-based operator of the French retailer's outlets said on Tuesday.
Renault’s alliance with Japanese partner Nissan remains French Finance Minister Bruno Le Maire’s priority ahead of any further consolidation with the likes of Fiat-Chrysler, he said on Tuesday.