April 3 (Reuters) - Ying Li International Real Estate Ltd:
* ZHANG MINGAO RESIGNED AS NON-EXECUTIVE AND NON-INDEPENDENT CHAIRMAN Further company coverage:
BERLIN (Reuters) -Germany's VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs which take effect on Thursday. The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China.
"I've flown round trip to Chicago for $30, Houston for $45, Miami for $50, etc."
After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. In the rolling hills near Tangiers and in industrial parks near the Atlantic Ocean, they have announced plans for new factories to make parts for EVs that may qualify for $7,500 credits to car buyers in the United States. Similar investments have been announced in other countries that share free trade agreements with the United States, including South Korea and Mexico.
Indonesia launched its first electric vehicle battery plant on Wednesday, President Joko Widodo said, as Southeast Asian countries move to gain a foothold in the emerging industry.The plant is part of a $9.8 billion electric vehicle battery deal signed between Indonesia and LG in 2020.
China is far ahead of other countries in generative AI inventions like chatbots, filing six times more patents than its closest rival the United States, UN data showed on Wednesday.
Cheap Chinese goods helped keep inflation low in the early 2000s, but at the cost of U.S. manufacturing. As those imports surge again, here’s what’s changed and what it means for American jobs.
BMW has accused the European Union of protectionism as Brussels prepares to hit imported Chinese electric cars with a wave of tariffs.
The agreement, yet to be ratified by the Associate of Flight Attendants union members, is also the first to make boarding pay legally binding for unionized flight attendants, the union said on Tuesday. Flight attendants in the U.S. are usually paid an hourly rate after the flight cabin doors close and it does not include the time taken to onboard passengers. "With boarding pay, we achieve significant pay increases," the union said.
Russian firms have boosted zinc metal production over the past month to benefit from rising state demand and reduce reliance on China as a destination for material, two sources familiar with the matter told Reuters. Russia's output of zinc used to galvanise steel is a fraction of the global total, but it will add to tightness in the global zinc concentrate market as seen in China's imports. Russia's commodity exports to China soared after Western sanctions were imposed on Moscow for its invasion of Ukraine in Feb. 2022.
With the clock ticking for the European Commission to impose provisional tariffs on electric vehicles made in China, automakers are bracing for billions of dollars in new costs that analysts expect will slow their European expansion. "The Chinese EV brands' march into Europe will continue on," said Lei Xing, founder of consultancy AutoXing. China and the European Commission have been in negotiations since last week over the curbs that Beijing and some European automakers want scrapped.
STOCKHOLM (Reuters) -Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and U.S. import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday. The Swedish company, controlled by China's Geely, makes all its EVs in China, but its new model, the Polestar 3, will be made in the United States from the end of this summer and its Polestar 4 in South Korea from the second half of next year. Until then, it will incur provisional tariffs of 20% for the cars it brings into the European Union under a proposal by the European Commission and more than 100% for the United States.
The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil's claim against Chevron's $53 billion purchase of Hess Corp, two people familiar with the matter told Reuters. The panel's formation would be a milestone in a long-delayed process that has cast uncertainty over the mega-merger, which both Chevron and Hess had hoped would close in the first half of 2024. Exxon filed the arbitration claim with the International Chamber of Commerce (ICC) in March, arguing that it has a right of first refusal over Hess's assets in Guyana.
When Ted Rossman was at Newark Airport in New Jersey the other day, he got a shock along with his sandwich. Rossman, a senior industry analyst for financial information site Bankrate, went to a self-serve kiosk for a snack before a flight, scanned the item himself, and was asked for a tip. Which is why Americans are apparently fed up, according to a new Bankrate survey on the subject.
Hurricane Beryl is the earliest Category 5 storm on record. It's increasingly threatening to disrupt the oil market.
A professor at the Hong Kong University of Science and Technology (HKUST) has questioned the logic of China's cryptocurrency mining ban, suggesting that the government should embrace virtual assets amid geopolitical risks. Completely banning crypto mining in China was "very unwise" as it drove related businesses to the United States, which contributed to US tax income, Wang Yang, vice-president for institutional advancement and chair professor at the Department of Mathematics at HKUST, said duri
Finding the magic number for your retirement savings is no easy feat. According to a recent survey of over 1,000 Americans conducted by GOBankingRates, more than a third (35.48%) of the respondents...
After years of informal work as a farm labourer, Federico Olivieri, 29, could not believe it when a huge building site appeared next to his home in Sicily with training on offer for the numerous specialised jobs required. The programme by Italy's largest construction group Webuild is among a growing number of 'academies' run and financed by companies frustrated by many job-seekers lacking the know-how. Skill mismatches are an international problem but for Italy, with the lowest employment rate in the EU and productivity that has stagnated for more than two decades, it is acute.
NEW YORK (Reuters) -Oil prices gained about 1% on Wednesday after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the U.S. Independence Day holiday. Brent crude futures rose $1.10, or 1.3%, to settle at $87.34 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 1.3%, to $83.88.
Oil prices fell in early trade on Thursday after U.S. employment and business activity data came in weaker than expected, in signs the economy may be cooling in the world's top oil consuming nation. Brent crude futures were down 30 cents, or 0.34%, at $87.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.38%, to $83.56 by 0030 GMT, with activity thinned by the U.S. Fourth of July holiday. In the United States, data on Wednesday showed first-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2-year high towards the end of June.
BERLIN (Reuters) -Germany will block the planned sale of Volkswagen subsidiary MAN Energy Solutions' gas turbine division to a Chinese company, three people familiar with the matter told Reuters on Tuesday. GHGT belongs to the China State Shipbuilding Corporation (CSSC), which dominates the Chinese shipbuilding industry. MAN Energy Solutions said last September that the German government would take a closer look at the planned sale to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT), which was first announced in June 2023 at an undisclosed price.
Yahoo Finance