Renault shows 'interest' in Fiat Chrysler merger offer

PARIS -- French automaker Renault said Monday that it would study "with interest" a 50-50 merger proposal from Fiat Chrysler, a deal that could reshape the industry as Renault reviews its options following the arrest in Japan of its chief executive.Renault had for years tied its strategy to a partnership with Japanese automaker Nissan but this has come into question after the arrest and subsequent ouster of Carlos Ghosn at both companies.After a board meeting over what it termed a &quo

May 27, 2019

Renault, Fiat Chrysler in talks on alliance: sources

French and Italian-US auto giants Renault and Fiat Chrysler are set to announce talks on an alliance, with a view to a potential merger, informed sources said on Sunday.Renault and FCA are likely to unveil the move "within hours, perhaps tomorrow (Monday), before the (Paris) bourse opens," one of the sources told AFP on condition of anonymity, adding an eventual "merger" was on the agenda.The same source added a statement would cover "the possibility of a convergence bet

May 26, 2019

Huawei: US controls have 'no impact,' talking to Google

The founder of Huawei expressed confidence Washington's curbs on sales to the Chinese tech giant will have little impact and said Tuesday it is discussing “emergency relief” from Google for possible loss of services for its smartphone business. Huawei Technologies Ltd., the biggest maker of network gear for phone carriers, has ``supply backups'' if it loses access to American components, Ren Zhengfei told Chinese reporters. His comments were broadcast by state TV and other outlets.The Trump admi

May 21, 2019

[Graphic News] US world’s top crude oil producer

　The United States became the world’s top crude oil producer in 2017, surpassing Russia and Saudi Arabia, according to the International Energy Agency. The US produced 14.3 percent of the world’s oil, and Saudi Arabia stood in second place with 12.9 percent with Russia close behind at 12.2 percent.　In terms of the volume of oil they produced in 2017, the three countries produced more oil than the next seven countries on the list combined.

May 19, 2019

Trump delays auto tariff decision by 6 months

US President Donald Trump on Friday delayed a decision on whether to impose tariffs on imported cars and parts by six months.Trump said in a proclamation that he is directing the US.Trade Representative to pursue negotiations on cars imported from the European Union and Japan in that period. (AfP-Yonhap)Trump was expected to decide by Saturday whether to go ahead with imposing tariffs of up to 25 percent on imported autos and parts on national security grounds.He said in the proclamation that he

May 17, 2019

[Graphic News] Singapore's PM ranks world’s highest-paid leader

The prime minister of Singapore is the highest-paid leader in the world, according to USA Today. Lee Hsien Loong receives $1,610,000 in a year. He‘s followed by the chief executive of Hong Kong, Carrie Lam, and the president of the Swiss Confederation, Ueli Maurer.The president of the United States came in fourth place with $400,000USA today gathered the annual salaries from country’s websites, International Monetary Fund, and the CIA World Factbook.

May 1, 2019

[Graphic News] Venezuela world's most miserable economy

　Inflation that’s projected to reach an eyeball-popping 8 million percent this year has left Venezuela saddled with the title of the world’s most miserable economy.　The embattled South American nation topped the rankings of Bloomberg’s Misery Index, which sums inflation and unemployment outlooks for 62 economies, for the fifth straight year.　Joining Venezuela in the most-distressed crowd are Argentina, South Africa, Turkey, Greece and Ukraine -- each of which retained the same rank as last year,

April 22, 2019

JPMorgan Chase earnings rise, upbeat on US economy

JPMorgan Chase reported higher first-quarter profits Friday, pointing to a still-solid US economy reflected in more lending and better profit margins on loans.Earnings at the biggest US bank by assets were $9.2 billion, up 5.4 percent from the year-ago period.Revenues were $29.9 billion, up 4.7 percent.Shares rose following the results, which topped analyst expectations.A strong performance in the consumer and community banking division -- the biggest segment by revenues -- was the driver of hig

April 12, 2019

Japan court says Carlos Ghosn detention extended until April 22

A Japanese court on Friday ruled that Carlos Ghosn will remain in detention until April 22, as prosecutors grill the former Nissan boss over allegations of financial misconduct.His lawyers immediately appealed the decision and have already asked the Supreme Court to intervene in his detention.But unless the appeals succeed, the 65-year-old will be held in custody at a detention centre in Tokyo until April 22, whereupon authorities will either have to press formal charges, release him or re-arres

April 12, 2019

[Graphic News] Incheon Airport becomes world’s 5th-largest passenger airport

　The number of passengers using Incheon Airport reached a new high in 2018, making it the fifth-largest passenger airport in the world. 　According to Incheon International Airport Corp., Incheon Airport handled 67.7 million international passengers last year, up 10 percent from a year earlier. The latest figure is about 3.3 times the number of passengers logged in 2002, the year after the airport opened. 　Incheon Airport opened its second terminal last year, increasing maximum passenger capacity

April 2, 2019

Ford closes 3 factories in Russia in broad overhaul

Ford is closing three factories in Russia as it pulls out of passenger vehicle manufacturing in the country, causing heavy job losses.Ford says it will stop making passenger cars in Russia by the end of June, closing vehicle assembly plants in St. Petersburg and Naberezhnye Chelny, as well as an engine plant in Yelabuga. A worker welds body panels on the shell of a Ford Focus automobile at a Ford Sollers plant in Saint Petersburg, Russia. (Bloomberg)Ford says ``significant employee separations a

March 27, 2019

[Graphic News] S. Korea becomes top exporter of 77 products in 2017: KITA

　South Korea became the No. 1 exporter of 77 products in 2017, a local trade organization showed, on the back of improved performance from the petrochemicals industry.　According to the Korea International Trade Association, the number of products enjoying a top market share shipped from Asia’s fourth-largest economy grew from 68 in 2015 and 71 tallied for 2016.　China had the highest number of products that topped the global market at 1,720, followed by Germany with 693 and the United States with

March 27, 2019

[Graphic News] Global hearable market to grow quickly

　The world market for wireless hearables is expected to grow quickly over the next two years thanks to the popularity of Apple’s AirPod, an industry report said.　The global market is estimated to reach 129 million units by 2020, compared with about 46 million units last year, according to a report from industry tracker Counterpoint Research.　The report, however, didn’t provide an estimate for this year’s global sales.　The research firm said Apple’s upcoming second-generation AirPod and similar e

March 26, 2019

[Graphic News] Seoul ranks 7th most expensive city for expats

　Paris has climbed to the top of the world‘s priciest city for expatriates, tied first with Singapore and Hong Kong according to a survey that named the capital of strife-torn Venezuela as the cheapest.　South Korea’s capital city Seoul ranked as the seventh most expensive city. The average price of 1 kilogram of bread was found to be $15.59, while in Singapore it was $3.40.　Currency appreciation, inflation and devaluation as well as political upheaval played a part in this year’s rankings, said

March 21, 2019

[Graphic News] Bezos, Gates still top world’s ultrarich: Forbes

　Jeff Bezos remains the world’s richest person, ahead of Bill Gates and Warren Buffett, according to the latest Forbes list of the ultrarich, while far behind President Donald Trump jumped 51 spots in the ranking.　While things are largely stable up on top of the list, Facebook founder Mark Zuckerberg dropped three spots and former New York Mayor Michael Bloomberg rose by two.　According to the list announced by Forbes, the riches of Bezos have swelled by $19 billion in one year and he is now wort

March 14, 2019

Most powerful banker in Nordics says cutting humans reduces risk

The man running the biggest Nordic bank says that reducing the number of humans working in finance will actually help cut some of the risks in the industry.Casper von Koskull, the chief executive officer of Nordea Bank Abp, predicts that in roughly a decade, his sector will have half as many people working in it as it does now. And that’s a good thing, he said. Casper von Koskull, the chief executive officer of Nordea BankWith cuts on that scale, the finance industry “actually becomes more robus

March 3, 2019

VietJet to sign major Boeing deal during Trump-Kim summit: sources

Fast-growing Vietnamese budgetairline VietJet Aviation JSC is expected to sign amajor jet deal with Boeing Co on the sidelines of nextweek's Trump-Kim summit, according to sources familiar with the matter.US President Donald Trump and North Korean leader Kim Jong-un will hold their second summit in the Vietnamese capital of Hanoi on Feb 27-28.Holding a signing ceremony during Trump's visit would help emphasize strengthening economic and military ties between the United States and Vietnam. Boeing

Feb. 22, 2019

[Graphic News] Samsung ranked among top 2 in French consumers’ brand rating

　Samsung Electronics was placed among the top two in a brand rating by French consumers, company officials said.　The 2019 edition of Best Brands France showed the tech firm at No. 1 in the best product brand category and at No. 2 in best corporate brand after Amazon.　For the golden age brand, chosen by consumers aged 50 and up, Samsung Electronics finished at No. 2 after Bose.　China's Huawei was ranked top for the best growth brand.

Feb. 20, 2019

Lawyer famous for acquittals to defend Nissan ex-chair Ghosn

Junichiro Hironaka, a lawyer famous for winning extremely rare acquittals in Japan, has been tapped to defend Nissan's former chairman Carlos Ghosn as he battles charges of false financial reporting and breach of trust.The move, confirmed Wednesday by Ghosn and Hironaka's office, underscores Ghosn's determination to prove his innocence. The odds are against him: In Japanese courts, 99 percent of cases get guilty verdicts. Junichiro Hironaka, new lawyer of former Nissan chief Carlos Ghosn, speaks

Feb. 13, 2019

US, China envoys hold talks before Trump tariff decision

US and Chinese trade negotiators are meeting this week for talks President Donald Trump says will help decide whether he escalates a technology dispute by going ahead with a March 2 tariff hike on $200 billion of imports from China.Two days of talks starting Thursday allow too little time to resolve the war over Beijing's technology ambitions that threatens to drag on weakening global economic growth, businesspeople and economists say. They believe China's goal is to make enough progress to pers

Feb. 13, 2019