January, 2017

• 2 January

  Hyundai, Kia forecast sales to rebound on capacity, models

  

    Bloomberg Hyundai Motor Co. and Kia Motors Corp., South Korea’s largest automakers, forecast sales to climb 4.7 percent this year as they count on new model introductions to counter intensifying competition amid global uncertainties. Hyundai and Kia are targeting to deliver a combined 8.25 million vehicles in 2017 from 7.88 million units a year earlier, according to regulatory filings. ...

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• 2 January

  Korea bans sales of some Nissan, BMW models in emissions probe

  

    Bloomberg South Korea banned the sale of 10 models built by Nissan Motor Co., BMW AG and Volkswagen AG’s Porsche after an investi- gation found the automakers fabricated documents related to emission tests. The three manufacturers were slapped with total fines of 7.17 billion won ($5.9 million), which apply to 4,523 vehicles, and the certifications given for these models ...

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• 2 January

  China starts 2017 engulfed by smog, issues pollution alerts

  

    Beijing / AP Beijing and other cities across northern and central China were shrouded in thick smog, prompting authorities to delay dozens of flights and close highways. The Beijing Municipal Environmental Protection Bureau extended an “orange alert” for heavy air pollution for three more days. Beijing’s smog had initially been forecast to lift by Monday. The “orange alert” is ...

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• 2 January

  India’s manufacturing to shrink as cash shortages cut demand

    Bloomberg A private gauge indicates that India’s manufacturing sector will shrink for the first time in a year as Prime Minister Narendra Modi’s unprecedented clampdown on cash hurts demand. The Nikkei India Manufacturing Purchasing Managers’ Index was at 49.6 in December, a report showed, the lowest since December 2015. A number below 50 indicates a contraction. “Shortages of money ...

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• 2 January

  China state broadcaster rebrands in international push

  

    Beijing / AP State broadcaster Central China Television has rebranded its international networks and digital presence under the name China Global Television Network as part of a push to consolidate its worldwide reach. CCTV unveiled several new mobile apps under the CGTN brand, and visitors to CCTV’s non-Chinese language websites are directed to a new http://www.cgtn.com site. The broadcaster ...

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• 2 January

  High expenses bring USA auto sales growth to a halt

  

    Bloomberg It’s clear the era of rapid growth for US auto sales is over. The industry entered 2017 with analysts projecting the first significant decline in eight years — a drop of 200,000 vehicles, about the equivalent of one factory’s production — to 17.3 million cars and light trucks. While top-earning consumers will continue to snap up luxury vehicles ...

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• 2 January

  Tesla gives UK buyers two weeks to dodge Brexit price increase

  

    Bloomberg Tesla Motors Inc. customers in the UK may find their Christmas cash goes a little further than expected after the carmaker postponed a price increase by two weeks. The US electric-auto manufacturer’s plans to raise prices 5 percent in the UK have been put off until Jan. 15 from the original beginning-of-the-year deadline, Tesla said in an e-mailed ...

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• 2 January

  US consumer comfort closes in on best year since 2007

  

    Bloomberg Household confidence in the US is closing in on its best year since before the last recession, according to figures in the Bloomberg Consumer Comfort Index. Comfort measure cooled to 46 in period ended Dec. 25, the first retreat in five weeks, from 46.7. The gauge in the prior week was the strongest since April 2015. Gauge of ...

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• 2 January

  Euro area sees price gains as manufacturing expands

  

    Bloomberg Euro-area manufacturing expanded last month at the fastest rate since April 2011, in a sign that the currency bloc’s recovery is intact heading into 2017. A Purchasing Managers’ Index climbed to 54.9 in December, IHS Markit said on Monday. The reading matches the initial estimate on Dec. 15 and was up from 53.7 in November. Higher import costs ...

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• 2 January

  Gulf stocks mixed, Oman falls after austere budget

  

    DUBAI / Reuters Gulf stock markets were mixed on Monday as most reopened after the New Year, with Oman falling after the release of an austere state budget for 2017. Egypt edged down although foreign investors remained net buyers of stocks. Dubai’s index rose 0.2 percent as much activity focused on speculative stocks with prices below 1 dirham. Islamic ...

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