STOCKHOLM, Aug 11 (Reuters) – Volvo Cars, owned by China’s Geely Holding (GEELY.UL), will temporarily stop production at its Swedish plant in Gothenburg due to the shortage of semiconductor chips, it said on Wednesday. A global chip shortage has hit manufacturing, with automakers cutting down on production and electronic device makers struggling to keep up… Continue reading Autos & TransportationChip shortage prompts production halt at Volvo Cars in Gothenburg7:23 AM UTC
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Retail & ConsumerChina auto sales tumble for a third straight month in July7:54 AM UTC
BEIJING, Aug 11 (Reuters) – China’s vehicle sales slid in July for a third consecutive month, hit hard by flooding in some areas of the country, COVID-19 outbreaks in other areas and the global shortage of semiconductors. The world’s biggest auto market saw sales drop 11.9% from the same month a year earlier to 1.86… Continue reading Retail & ConsumerChina auto sales tumble for a third straight month in July7:54 AM UTC
Exclusive: Great Wall Motor to shift some India investment to Brazil after approval delays – sources
In 2020, Great Wall unveiled plans to invest $1 bln in India Part of the $1 bln being re-allocated to Brazil -sources Firm close to buying plant in Brazil amid global push -sources Great Wall committed to India but cautious over delays -sources NEW DELHI/BEIJING, Aug 11 (Reuters) – Great Wall Motor (601633.SS) has decided… Continue reading Exclusive: Great Wall Motor to shift some India investment to Brazil after approval delays – sources
Change Suite · 4:08 AM UTCChinese tech firms ‘self-correct’ to get ahead of potential regulatory furyFretting about unprecedented regulatory heat for …
BEIJING, Aug 11 (Reuters) – Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming. Instead, eager to pre-empt authorities, they’ve decided to ‘self-correct’, imposing restrictions on or even walking away from their own businesses. KE Holdings (BEKE.N), China’s… Continue reading Change Suite · 4:08 AM UTCChinese tech firms ‘self-correct’ to get ahead of potential regulatory furyFretting about unprecedented regulatory heat for …
Autos & Transportation · August 10, 2021 · 9:51 AM UTCTesla sold 32,968 China-made vehicles in July, local sales plunged m/mU.S. electric vehicle make…
A Tesla car pictured at a charging point in Beijing, China, April 13, 2018. REUTERS/Thomas Peter/File Photo BEIJING, Aug 10 (Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association (CPCA) said on Tuesday. Local sales of China-made vehicles plunged 69%… Continue reading Autos & Transportation · August 10, 2021 · 9:51 AM UTCTesla sold 32,968 China-made vehicles in July, local sales plunged m/mU.S. electric vehicle make…
BusinessU.S. reaches deal with Mexican auto parts factory in USMCA labor complaint12:08 AM UTC
WASHINGTON, Aug 10 (Reuters) – Mexican auto parts company Tridonex on Tuesday agreed to ensure worker rights, pay severance and back wages to dismissed employees to settle an early labor rights complaint under the new North American trade deal. The agreement announced by the U.S. Trade Representative (USTR) and Tridonex parent Cardone Industries Inc aimed… Continue reading BusinessU.S. reaches deal with Mexican auto parts factory in USMCA labor complaint12:08 AM UTC
BusinessU.S. House bill would give tax credit for rare earth magnetsAugust 10, 2021
Wheel loaders fill trucks with ore at the MP Materials rare earth mine in Mountain Pass, California, U.S. January 30, 2020. REUTERS/Steve Marcus Aug 10 (Reuters) – A Democrat in the U.S. House of Representatives introduced legislation on Tuesday extending tax credits to companies that domestically produce rare earth magnets, a sector currently dominated by… Continue reading BusinessU.S. House bill would give tax credit for rare earth magnetsAugust 10, 2021
Technology · 4:19 PM UTCPayPal’s Venmo allows credit cardholders to buy crypto with cashbackPaypal Holdings Inc-owned (PYPL.O) Venmo on Tuesday rolled…
Representations of cryptocurrencies Bitcoin and Ethereum are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration Aug 10 (Reuters) – Paypal Holdings Inc-owned (PYPL.O) Venmo on Tuesday rolled out a feature that would allow holders of its credit cards to automatically buy cryptocurrencies with the cashback earned on their purchases. Cardholders… Continue reading Technology · 4:19 PM UTCPayPal’s Venmo allows credit cardholders to buy crypto with cashbackPaypal Holdings Inc-owned (PYPL.O) Venmo on Tuesday rolled…
Technology · 2:09 PM UTC”DeFi” crime hits record high in first 7 months of 2021 -CipherTraceLosses from theft, hacks, and fraud in “decentralized fina…
NEW YORK, Aug 10 (Reuters) – Losses from theft, hacks, and fraud in “decentralized finance” or DeFi, a thriving segment in the cryptocurrency sector, hit an all-time high in the first seven months of the year, a report from crypto intelligence company CipherTrace showed on Tuesday. But losses from crime in the overall cryptocurrency market… Continue reading Technology · 2:09 PM UTC”DeFi” crime hits record high in first 7 months of 2021 -CipherTraceLosses from theft, hacks, and fraud in “decentralized fina…
Retail & ConsumerAmazon to pay shoppers hurt by others’ products, does not admit liability10:20 AM UTC
Aug 10 (Reuters) – Amazon.com Inc (AMZN.O) on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its U.S. platform, in a new policy that could reduce litigation. For years, consumers have sued the world’s largest online retailer, arguing it is liable when a merchant sells… Continue reading Retail & ConsumerAmazon to pay shoppers hurt by others’ products, does not admit liability10:20 AM UTC