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Bloomberg China’s government is leaning toward allowing provinces continue with local subsidies for electric vehicles to sustain the rising demand for new-energy automobiles in the country, according to people familiar with the matter. Authorities are in favor of abandoning an earlier proposal to scrap local incentives, the people said, asking not to be identified as the discussions are private. In ...

Bloomberg Samsung SDI Co., a battery supplier to carmakers including BMW, plans to recycle cobalt from used mobile phones as companies around the world scramble to secure supplies of the metal amid surging prices. The plan fuels a trend among battery makers to reduce dependence on the Democratic Republic of Congo as a source of cobalt. The African country — ...

Bloomberg Ford Motor Co. is spending $25 million more at its Kentucky factory to pump out more of the profitable big sport utility vehicles that are critical to funding its ambitious — and expensive — electric and self-driving vehicle plans. The investment will allow the second-largest US automaker to boost production of the new Lincoln Navigator and Ford Expedition by ...

Bloomberg TalkTalk Telecom Group Plc plunged as it announced plans to sell shares for 200 million pounds ($278 million) to prop up its balance sheet and finance the buildout of fiber to more than 3 million homes and businesses in the UK. The new company with Infracapital, the infrastructure investment arm of M&G Prudential, will inject further competition into the ...

Bloomberg Mercedes-Benz may pull out of the annual North American International Auto Show in Detroit next year, according to people familiar with the matter, as carmakers increasingly choose to unveil new products at tech shows or their own special events. Daimler AG, Mercedes’s parent, is moving towards standalone presentations of new models and technology summits like CES in Las Vegas, ...

Bloomberg The chief executive officer of the world’s biggest shipping company says curbs on immigration backed by the administration of President Donald Trump risk hurting the US economy. “The US economy is running at full steam and therefore wages have started to rise,” which “in itself is positive,” Soren Skou, the CEO of A. P. Moller-Maersk A/S, said in a ...

Bloomberg Figeac-Aero has a problem that says a lot about the French economy: the Airbus supplier can’t find enough qualified people to staff its factories. Even with one in 10 workers out of a job, companies cite difficulty in hiring as one of their biggest problems as a long-awaited economic recovery takes hold. The crunch is particularly acute for Patrice ...

After bottoming out at $438 billion and 2.4 percent of gross domestic product in fiscal 2015, the US federal deficit has started growing again. It was $666 billion (3.5 percent of GDP) in the fiscal year that ended in September, and with the big tax cut passed by Congress and signed by the president in December, and the moderately generous ...

The next governor of the People’s Bank of China has a broader, more conceptual inbox than is typical of incoming central bankers. Zhou Xiaochuan has held the post since 2002 and has hinted that retirement is coming. Zhou helped transform the bank from a fairly obscure bureaucratic outpost in the economic world to a place with a growing international profile ...

Qualcomm Inc. is trying to call Broadcom Ltd.’s bluff, but the company may end up with its own credibility crisis. Qualcomm’s board rejected Broadcom’s latest $82 cash-and-stock bid, saying it materially undervalued the company. The chipmaker is, however, finally willing to meet with Broadcom to determine “the true highest price at which you would be prepared to acquire Qualcomm” and ...