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by John BIERS / Nova SAFO Agence France-Presse DETROIT, United States (AFP) — Car makers appealed to Americans’ deep love of SUVs and trucks on Monday at the Detroit Auto Show, unveiling a host of choices from luxurious to utilitarian, while also beefing up the humble sedan. From European car makers to American icons, there were dozens of new offerings for the North American market. While sedans and electric cars were still in the game, […]
DETROIT, United States (AFP) — The chief executive of Daimler said Monday at the Detroit auto show that his company cannot currently guarantee it can meet tougher European CO2 emissions standards taking effect in several years. Dieter Zetsche, CEO of the maker of Mercedes-Benz luxury vehicles, told reporters he “can’t guarantee” to meet tightening emission standards in 2021. “It’s a huge challenge for everyone,” he told AFP later in an interview. “We will make it. […]
LONDON, United Kingdom (AFP) — British construction and outsourcing services group Carillion announced its immediate liquidation Monday after the heavily-indebted company failed to secure a financial rescue from the UK government and banks. Carillion, which employs 43,000 staff worldwide including 19,500 in Britain, said that the government would nevertheless provide some funding to allow current state projects to continue, following crunch talks over the weekend. “This is a very sad day for Carillion, for our […]
DETROIT, United States (AFP) — Volkswagen said Sunday that its namesake brand sold more vehicles worldwide in 2017 than ever before, a sign it is recovering from a bruising emissions-cheating scandal three years ago. “We finished 2017 with the best performance ever for Volkswagen,” Herbert Diess, chairman of the board of management of the Volkswagen passenger cars brand, said Sunday night at the Detroit Auto Show. Global sales rose 4.2 percent to 6.2 million, with […]
PARIS, France (AFP) — Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it’s not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting. Dozens of crypto units see the light of day every week, as baffled financial experts look on, and while none can match Bitcoin’s $200-billion euro ($242 bilion) market capitalisation, several have left the media darling’s profitability in the dust. In […]
WASHINGTON, United States (AFP) — Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday. Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world’s major economies, to monitor the activity of those who invest heavily in the cryptocurrency. “One of the things we will be working with the G20 on is […]
MILAN, Italy (AFP) — Friday Italy’s government said Friday it is considering three bids for troubled airline Alitalia from Lufthansa, EasyJet and a private equity firm, and hopes to have a deal wrapped up by May. “I can confirm that the goal is to complete a deal before the elections”, Economic Development Minister Carlo Calenda said on the La7 television channel, referring to Italy’s general election due on May 4. The three offers received are from German airline giant Lufthansa, US […]
HONG KONG, China (AFP) — Most Asian markets resumed their positive start to the year on Friday with Hong Kong extending its record run to 14 days while the euro held gains after the previous day’s jump. Investors were once again provided a strong lead from Wall Street where all three main indexes advanced to new all-time highs, with energy firms riding a surge in oil prices. Confidence across world markets is booming on the […]
NEW YORK, United States (AFP) — Italian-American automaker Fiat Chrysler on Thursday unveiled a plan to invest $1 billion in a Michigan assembly plant and offer bonuses to tens of thousands of employees, saying the measures were possible because of US tax reform. The third-biggest US car maker said the investment would help it to modernize a plant in northern Michigan to “produce the next-generation Ram Heavy Duty truck,” shifting production of the vehicle to […]
by John Biers Agence France Presse NEW YORK, United States (AFP) — Walmart announced Thursday it will raise the minimum wage for US workers to $11 an hour and pay bonuses, but announced plans to close 63 Sam’s Club stores in the US. Owned by Walmart, Sam’s Club is a chain of membership-only warehouse stores that offer discounted prices. Up to 12 of the shuttered Sam’s Club stores would be converted into warehouses for e-commerce, […]
LONDON, United States (AFP) — Brexit could cost the UK nearly 500,000 jobs in a worst-case scenario, according to a study published Thursday which was commissioned by the mayor of London. Britain could lose 482,000 jobs by 2030 if the country crashes out of the European Union, according to research by Cambridge Econometrics. A scenario in which the UK fails to agree a transition deal and future trading relationship with the bloc would also cost […]
TOKYO, Japan (AFP) — Japan’s Fast Retailing said Thursday that sales at its Uniqlo stores abroad had outstripped domestic demand for the first time, as Asia’s biggest retailer delivered quarterly earnings that beat market expectations. Driven by a strong performance in China and the wider Asia region, overseas sales at the cheap-chic Uniqlo chain soared by nearly one third to 258 billion yen ($2.3 billion), just beating the 257 billion yen from domestic sales. Uniqlo […]
