According to a source familiar with the matter at hand, France’s Alstom SA is close to clinching a deal to acquire Bombardier Inc’s train business. An announcement could come as soon as Monday, said the source while adding that the… Read More ›
China
China’s Great Wall Motor to purchase General Motors’ Thailand car plant
On Monday, China’s Great Wall Motor stated it had signed a binding agreement to purchase General Motors’ car plant in Thailand. General Motors is retreating from markets outside of the United States and China and is winding down designs, sales… Read More ›
Toyota to resume production at three plants in China
In a statement, Toyota Motor Corp disclosed, it plans on resuming output at three of its four main auto plants in China this week. Toyota had earlier wanted to resume the production at its plants on February 3 after the… Read More ›
Mobile World Congress 2020 called off over Coronavirus fears
The annual telecoms industry gathering event, the Mobile World Congress (MWC), was cancelled on Wednesday following a mass exodus by exhibitors over fears over China’s coronavirus pandemic. The annual event which draws more than 100,000 visitors to Barcelona was cancelled… Read More ›
Singapore’s biggest bank, DBS Asia Central, evacuates 300 staff over China’s coronavirus
On Wednesday, according to an internal memo from DBS, Singapore’s biggest bank, 300 staff from its head office have been evacuated as a precautionary measure following a confirmed coronavirus case at the bank. “I regret to inform you that there… Read More ›
Amazon.com Inc pulls out of Mobile World Congress 2020
Amazon.com Inc has pulled out of the Mobile World Congress citing China’s coronavirus outbreak. “Due to the outbreak and continued concerns about the new coronavirus, Amazon will withdraw from exhibiting and participating in Mobile World Congress 2020,” said Amazon in… Read More ›
Kia Motors suspends production at two South Korean factories citing shortage of auto parts
On Monday, in a statement Kia Motors said, production at three car plants in South Korea have come to a grinding halt due to a shortage of auto parts. Production at Kia Motors’ Gwangju and Sohari plants will be suspended… Read More ›
Foxconn’s Zhengzhou plant resumes operations
On Monday, as per a source with direct knowledge of the matter at hand, Foxconn has received approval to resume production at its plant in Zhengzhou in northern China. Around 16,000 people have returned to the plant, said the source… Read More ›
Coronavirus adds pressure to China’s pork prices and supplies
An official from China’s agriculture ministry told a briefing on Sunday that the coronavirus outbreak has led to a delay in the launch of a new pig breeding program which i has piled on more pressure on pork prices and… Read More ›
China’s coronavirus casts shadow in M&A space: China’s Melco Resorts abandons stake purchase in Australia’s Crown Resorts
China’s coronavirus outbreak has claimed it first big M&A deal. Melco Resorts & Entertainment Ltd, a Macau casino operator, has decided to not pursue its purchase of a stake in Australia’s Crown Resorts Ltd citing a plunge in traveler numbers… Read More ›
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