The logo of Volkswagen is seen at their plant in Wolfsburg, Germany. Reuters
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.
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
TOKYO: Japan’s exports declined in March as shipments to China dropped more than 9 per cent, pulling the nation’s trade surplus sharply lower. The data released Wednesday by the Finance Ministry was more or less in line with forecasts. The report followed two days of trade talks
Businesses across the eurozone stumbled into the second quarter as demand remained weak despite more modest price rises, surveys showed on Thursday. Growth stuttered in Germany and forward-looking indicators in its Purchasing Managers’ Index suggest a contraction among manufacturers
Amazon.com said it would shut its China online store by July 18, as the US e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s marketplace
Ford Motor’s shift in production at a Michigan plant to trucks from less profitable cars will lead to a more than $1 billion improvement in operating earnings, an official at the No. 2 US automaker said. The increase in earnings, before interest and taxes,