Bloomberg Volvo Car Group, owned by a Chinese billionaire since 2010, plans to export half of a new South Carolina factory’s output to Asia and Europe. The company plans to build 60,000 S60 sedans in Charleston initially then expand to 100,000, Hakan Samuelsson, Volvo Cars’ chief executive officer, said at a dinner at the North American International Auto ...
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Bloomberg US President-elect Donald Trump’s promise to shrink a trade deficit with China through punishing tariffs wouldn’t just hurt the world’s second-biggest economy — it would also damage the rest of Asia too. That’s the increasing view of economists who say the risk of significant Trump-triggered trade tensions could slow growth in the world’s best performing region, which accounts ...
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Bloomberg Samsung executives have been summoned by South Korean special prosecutors amid a widening influence-peddling scandal that brought about South Korean President Park Geun-hye’s impeachment. Samsung Corporate Strategy Office Vice Chairman Choi Gee-sung and President Chang Choong-ki were asked to come in for questioning, Hong Jung-seok, a spokesperson for the special prosecutors office, told Bloomberg News via text message ...
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Bloomberg Fiat Chrysler Automobiles NV will invest $1 billion toward making three new Jeep models in the US, plus a Ram heavy-duty pickup now built in Mexico, as President-elect Donald Trump pressures the auto industry to hire workers and produce vehicles above the border. The outlays planned by 2020 include retooling factories in Michigan and Ohio and adding 2,000 ...
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Bloomberg Volkswagen AG laid out a new design for a revived, battery-powered version of its iconic hippie-era Microbus as the carmaker seeks ways to move beyond its 16-month-old diesel emissions-cheating scandal and will overhaul its US lineup in a renewed comeback push. The latest iteration of the van, a concept dubbed the I.D. Buzz, is part of the VW ...
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Abu Dhabi / Emirates Business IDEX Conference 2017, part of the International Defence Exhibition & Conference (IDEX 2017) and Naval Defence Exhibition (NAVDEX 2017), is set to draw the participation of several leading security and defence decision makers and experts from across the world. Themed Disrupting Innovation in Defence and Security, the conference will be held ahead of IDEX ...
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Dubai / WAM 2017 will be a year of abundance and generous giving for the UAE and its citizens, while seeking to make a better future for citizens and government work, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, promised on Sunday, as he chaired the Cabinet’s first meeting of the year ...
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Dubai / Emirates Business In line with the directives of UAE President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, the Ministry of Climate Change and Environment (MOCCAE) announced the enforcement of the new Federal Law No. 22 of 2016 to regulate the possession of dangerous animals. The law aims to stop individuals from owning, trading and breeding all ...
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Bloomberg Facing calls to strike back at Russia for what US intelligence agencies have termed Moscow’s interference with the 2016 US presidential election campaign, Donald Trump instead suggested warmer relations between the two countries. The president-elect took to Twitter on Saturday to discuss the potential US-Russia relationship under his administration, a day after US spy chiefs briefed him on ...
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Bloomberg India’s plans to sell the government’s stake in several poorly performing companies have prompted trade union threats of a nationwide strike, laying out a test for Prime Minister Narendra Modi in the lead up to crucial state elections. With thousands of jobs potentially at risk, the government’s decision to offload a number of companies to the private sector ...
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