Category: News Site

China plans 25% tariffs on US goods including cars

Beijing is to place 25% trade tariffs on a list of 106 US goods, including soybeans, cars, and orange juice. The retaliatory action comes after the US published a list of about 1,300 Chinese products it plans to hit with a 25% tariff. The White House said the proposed imports tariff was a response to… Continue reading China plans 25% tariffs on US goods including cars

China’s Meituan Dianping to acquire Mobike in $3.7b deal

April 4, 2018 Meituan Dianping, China’s top on-demand services platform, said on Wednesday it has agreed to acquire bike-sharing firm Mobike. Both firms are backed by Chinese gaming and social media firm Tencent Holdings Ltd. Meituan did not disclose the value of the deal, though local media said it was roughly $3.7 billion. Mobike will… Continue reading China’s Meituan Dianping to acquire Mobike in $3.7b deal

(2nd LD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates

(ATTN: ADDS details throughout) SEOUL, April 4 (Yonhap) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., said Wednesday it has acquired more than US$1 billion worth of stocks in three major affiliates of Hyundai Motor Group, and asked for more efforts to improve corporate governance by the group. The… Continue reading (2nd LD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates

(LEAD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates

(ATTN: ADDS Hyundai’s response in 4th para) SEOUL, April 4 (Yonhap) — Elliott Advisors Ltd., a unit of U.S. activist hedge fund Elliott Management Corp., said Wednesday it has acquired more than US$1 billion worth of stocks in three major affiliates of Hyundai Motor Group, and asked for more efforts to improve corporate governance by… Continue reading (LEAD) Elliott holds over $1 bln stake in Hyundai Motor Group affiliates

Mercedes’ ridesharing ViaVan service comes to London

Daimler Add another company to the list of transportation services filling Uber’s London-sized void. Mercedes-Benz and Via have launched their jointly owned ViaVan service in Zones 1 and 2 of the city, giving Londoners a “ride-pooling” option that bridges the gap between plain ridesharing and mass transit. The allure, as you might guess, stems from… Continue reading Mercedes’ ridesharing ViaVan service comes to London

JUMP Bikes weighing Uber $100m+ acquisition, investment offers

JUMP Bikes, the on-demand biking service that integrates with Uber, has been weighing both acquisition and investment offers. A decision has not yet been reached, but right now possible options include a sale to Uber at a price that exceeds $100 million, or a venture investment round, multiple sources tell TechCrunch. One of the possible… Continue reading JUMP Bikes weighing Uber $100m+ acquisition, investment offers

Carmakers proceed cautiously after EPA mpg announcement

Environmental Protection Agency Administrator Scott Pruitt speaks with auto industry leaders following a news conference at the Environmental Protection Agency in Washington, April 3, 2018, on his decision to scrap Obama administration fuel standards. (Photo: Andrew Harnik / AP) Washington — Detroit automakers say they’re committed to increasing the fuel economy of their cars, despite… Continue reading Carmakers proceed cautiously after EPA mpg announcement

Tesla: Our Model 3 electric-car production line may beat Henry Ford's

CLOSE Elon Musk success with the Falcon Heavy reusable rocket, with a Tesla Roadster heading toward out to space, reveals his grand plan for colonizing Mars. USA TODAY Tesla CEO Elon Musk. (Photo: PETER PARKS, AFP/Getty Images) Facing scrutiny over its manufacturing capability, Tesla said Tuesday that production of its Model 3 electric car is… Continue reading Tesla: Our Model 3 electric-car production line may beat Henry Ford's