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Next month, German carmaker Daimler may conclude an agreement on the sale of 50% of Smart, the division of Chinese Geely, which became Daimler’s majority shareholder last year. This was reported by sources familiar with the situation. The Smart division of the German automaker is unprofitable. Its sales per year are about 130 thousand cars. For comparison, a subsidiary of Mercedes-Benz, part of the Daimler group, sells about 2 million 250 thousand cars a year. Earlier it was reported that Geely and Daimler decided to create a joint venture in China, which will provide car sharing services.
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside ...
Asian stocks saw its biggest sell off in eight sessions on Thursday as the rise in COVID-19 cases and the lowering of economic forecasts by the International Monetary Fund dented confidence in a recovery. However, bonds saw some gains, while ...
SoftBank Group Corp. (9984.T) announced on Monday that it would sell up to 198 Million shares of the U.S. wireless carrier T-Mobile U.S. Inc. (TMUS.O) worth $21 billion. The telecom company revealed a series of transactions to seek funds for ...
Chinese factories sustained their upbeat performance for another month in May. This followed as the country shook off the economic disruptions brought by the novel coronavirus crisis. However, figures indicated that recuperation would not ...
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