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GM China auto sales rise 5.2 percent in 2015
General Motors Co's vehicle sales in China rose 5.2 percent to 3.61 million in 2015, the U.S. carmaker said on Wednesday. GM and its Chinese joint venture partners sold 445,227 vehicles last month, a 14 percent rise from a year earlier, matching its growth rate for November. The automaker plans to launch 13 new or revamped models in China in 2016, including the Cadillac CT6, Malibu XL and Cruze... [Read more]
Asia stocks buffeted by China worries, North Korea nuclear test
Asian shares fell on Wednesday and most emerging currencies retreated as China allowed the yuan to weaken further, stoking fears about its slowing economy, while a North Korean nuclear test heightened geopolitical tensions. Souring sentiment toward riskier assets in turn lifted safe-havens such as the Japanese yen Original post: Asia stocks buffeted by China worries, North Korea nuclear test Read More →
GM, Lyft announce $500 million investment by automaker and strategic alliance
By Steve Trousdale SAN FRANCISCO (Reuters) – General Motors Inc and Lyft Inc Monday announced an alliance to develop an on-demand network of autonomous vehicles as well as a $500 million investment by the automaker as part of a $1 billion fund-raising round by the ride-sharing service. The two companies said the partnership, which involves one of… Here is the original: GM, Lyft announce... [Read more]
U.S. manufacturing activity slumps, construction spending falls
By Lucia Mutikani NEW YORK (Reuters) – The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2105. The U.S. Institute for Supply Management (ISM) said its... [Read more]
Singapore must mind the cracks in 2016
With its increasing use of personal data and IoT, Singapore needs to pay attention to potential cracks in the system or risk more outages such as those in the nation's transport and e-government networks. Go here to read the rest: Singapore must mind the cracks in 2016 Read More →
American Airlines merges operations of unit U.S. Airways
(Reuters) – American Airlines Group Inc said its unit U.S. Airways Group merged with the company, as part of efforts to integrate operations of the businesses following a merger in 2013. American Airlines Group, the owner of American Airlines, said U.S. Airways Group and its airline U.S. Airways ceased to exist as a separate entity effective Dec. 30, 2015. “With US Airways merged into... [Read more]
U.S. hedge fund founder is denied early release in insider case
By Jonathan Stempel NEW YORK (Reuters) – A federal judge on Wednesday rejected hedge fund manager Doug Whitman's request to end his two-year sentence for insider trading early while he pursues his latest appeal of his 2012 conviction. U.S. District Judge Jed Rakoff said it would be unfair to release the Whitman Capital LLC founder from the Sacramento, California, halfway house where he... [Read more]
Puerto Rico to default on some debts, will pay GO debt
Puerto Rico will default for the second time in five months, but will pay the bulk of $1 billion due on Jan. 4, including its most senior debt, Governor Alejandro Garcia Padilla said on Wednesday. The Caribbean island's biggest payment, $328.7 million in general obligation debt, will be paid, the governor told reporters at a press conference in San Juan. More than half of that payment was made... [Read more]
KaloBios Pharmaceuticals files for bankruptcy in wake of Shkreli arrest
KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on Tuesday. The filing comes weeks after KaloBios received financing from Shkreli to avert closing down, only to have those plans upended by his arrest. Shkreli was arrested on Dec 17 for engaging in what... [Read more]
Adidas not facing shareholder pressure to sell Reebok: FT
Adidas is not facing pressure from activist shareholders to offload more assets, like fitness brand Reebok, the German sporting goods group's finance chief told the Financial Times. “I've never had a conversation where anyone has given me any pressure about anything,” the FT quoted Robin Stalker as saying in an interview … Read the rest here: Adidas not facing shareholder... [Read more]