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Business - Ford makes contingency plans in case of China year-end tax surprise

By Jake Spring BEIJING (Reuters) - Ford Motor Co expects China to wait until the last possible moment to announce whether it will extend a tax cut on small engine cars set to expire at year`s end and is making contingency plans for various outcomes, an executive said on Wednesday. China`s auto industry association, executives and analysts have warned of a potentially steep drop off in sales growth next year if the policy, which halves the purchase tax on cars with engines of 1.6 litres or below, expires as planned at the end of 2016. `If there is an announcement about a continuation, I would not be surprised if that announcement is made on literally the last day of year,` Peter Fleet, Ford`s head of sales and marketing for Asia Pacific, told Reuters in an interview.

Wednesday, December 07, 2016  04:50


Sports - Oklahoma City`s Westbrook bags sixth triple-double

Russell Westbrook motored to his sixth straight triple-double as the Oklahoma City Thunder squeezed past the Atlanta Hawks 102-99. Westbrook moved to within one game of equalling Michael Jordan`s seven consecutive triples in 1989 when he secured his 10th assist midway through the third quarter. Westbrook eventually finished with 32 points, 13 rebounds and 12 assists as the Thunder improved to 14-8.

Tuesday, December 06, 2016  04:24


World - Auto group tries to block EPA from finalizing vehicle rules

By David Shepardson WASHINGTON (Reuters) - A major auto trade group is making a last-ditch effort to block the U.S. Environmental Protection Agency from finalizing tough fuel economy standards through the 2025 model year. The Alliance of Automobile Manufacturers, a trade group representing General Motors Co, Toyota Motor Corp, Ford Motor Co, Volkswagen AG and Daimler AG, late Monday urged congressional negotiators to include language in a short-term budget resolution that would bar the Obama administration from finalizing the rules before it leaves office next month. `EPA`s sudden and controversial move to propose auto regulations eight months early - even after Congress warned agencies about taking such steps while political appointees were packing their bags - calls out for congressional action to pause this rulemaking until a thoughtful policy review can occur,` said Gloria Bergquist, a spokeswoman for the group.

Monday, December 05, 2016  23:28


World - South Korean industry titans grilled in scandal probe

The publicity-shy heads of South Korea`s largest conglomerates faced their worst nightmare on Tuesday, as they were publicly grilled about possible corrupt practices before an audience of millions. The eight men summoned to appear before a cross-party parliamentary committee probing an influence-peddling scandal engulfing President Park Geun-Hye are among the wealthiest and most influential in the country. The witness list was a who`s who of South Korea`s business elite -- including Samsung Electronics vice-chairman and chief-in-waiting Lee Jae-Yong, Hyundai Motors chairman Chung Mong-Koo and Lotte chairman Shin Dong-Bin.

Tuesday, December 06, 2016  02:20


Business - Panasonic in talks to buy ZKW for up to $1 billion: Nikkei

Japan`s Panasonic Corp is in the final stages of talks to buy European automotive light maker ZKW Group for up to $1 billion, accelerating its push into the automotive electronics market, the Nikkei business daily reported Monday. Privately held ZKW supplies light-emitting diode headlights and lighting modules to U.S. and European automakers such as General Motors Co and BMW . Panasonic said in a statement the reported deal was not something it had announced, adding it does not comment on individual deals.

Monday, December 05, 2016  00:01


World - Dow reaches record as rising oil pulls stocks mostly higher

NEW YORK (AP) — More gains in Goldman Sachs and Chevron helped pull the Dow Jones industrial average to another record high even as other indexes were flat to lower in early trading Thursday. Ford and General Motors are rising after they announced strong sales in November. Technology companies and companies that pay big dividends are trading lower.

Thursday, December 01, 2016  15:19


World - Scandal-hit Mitsubishi to triple top executives` pay

Scandal-hit Mitsubishi Motors wants to triple its top executives` pay as Nissan chief Carlos Ghosn gets set to take over as chairman. Investors are also being asked to vote on Ghosn`s appointment as a Mitsubishi board member. Ghosn, also the head of French automaker Renault, is widely credited with turning around a near-bankrupt Nissan in the late nineties.

Thursday, December 01, 2016  07:00


World - Radioactive water splashes Japan reactor workers; no injuries, contamination: power firm

Japan Atomic Power Co said on Wednesday water used for cooling its Tsuruga No.2 reactor, shut for maintenance, splashed on 10 employees at work inside an auxiliary plant building without causing injuries or radioactive contamination. The incident was reported two days after utility Tohoku Electric Power Co said about 12.5 tonnes of seawater used for cooling pumps and motors inside its Onagawa No.1 reactor building had leaked. The Onagawa reactor is also shut for maintenance.

Wednesday, November 30, 2016  09:30


Business - All-American pick-up trucks aim to lure China`s wealthy

Automakers Ford and General Motors are aiming the pick-up truck, an iconic staple in the United States, at upmarket buyers in China, where most associate trucks with farmers and construction workers.

Wednesday, November 30, 2016  07:09


Business - Ford stockpiles best-selling F-150 trucks to test new transmission

Ford Motor Co is stockpiling 2017 model F-150 trucks, delaying delivery to dealers while it runs final tests on a new 10-speed transmission, a top executive told Reuters. The trucks should be delivered by the end of the year, Joe Hinrichs, head of Ford`s automotive operations in the Americas said in an interview on Monday. `We are launching the new Raptor and F-150 with the new 10-speed transmission,` Hinrichs said.

Tuesday, December 06, 2016  22:48

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