Ford Motor Co said on Tuesday it plans to invest more than US$1.45 billion at two of its manufacturing facilities in Detroit to make electric, autonomous and sports utility vehicles, and add 3,000 jobs.
LONDON: The British pound slid on Tuesday (Dec 17) on news Prime Minister Boris Johnson will outlaw any extension to a Brexit transition beyond the end of next year, reviving fears of a no-deal divorce. By the late London afternoon, the pound was down by 1.7 per cent against the...
Chancellor Angela Merkel's conservatives and their Social Democrat partners have delayed until next year a decision on security rules for Germany's 5G network that could bar China's Huawei, a highly divisive issue in an unhappy alliance.
California wildfire victims and utility PG&E Corp have agreed to waive a Tuesday deadline for securing approval from the state's governor for the power company's reorganization plan that contains a US$13.5 billion settlement for the victims.
LONDON: Whirlpool, the US manufacturer of electrical appliances, said on Tuesday (Dec 17) it would need to recall some 500,000 washing machines sold in Britain owing to a potential fire risk. "We sincerely apologise for the inconvenience and concern this may cause to our customers ... but we hope ...
WASHINGTON: US homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy. The economy's near-term prospects were also bolstered by other ...
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker.
SINGAPORE: A new investor called Aqua Munda has made an offer to purchase about S$1.8 billion worth of Hyflux’s debts, the embattled water treatment firm said in a filing to the Singapore Exchange on Tuesday (Dec 17) night. These debts include those owned by holders of Hyflux’s 4.25 per...
NEW YORK: Thirteen prominent banks and financial services companies agreed to pay US$337 million to resolve claims by investors that they conspired to rig prices of bonds issued by mortgage companies Fannie Mae and Freddie Mac for a decade. The preliminary settlements filed late Monday night in ...
Workers at three Amazon logistics centers in Germany have joined a strike called by trade union Verdi that will last until Saturday as part of a long-running bid for better pay and conditions.
