Mercedes will invest billions of dollars to modernise its plants in China, Germany and Hungary over the coming years, magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles and cut emissions. The European Union has set a goal to halve CO2 emissions per passenger car over their life cycle by the end of […]
Taiwan’s Financial Supervisory Commission will be the main overseer of crypto currencies on the island, the head of the regulator said on Monday. Huang Tien-mu told lawmakers in parliament that the Financial Supervisory Commission will initially be responsible for the supervision of payments and transactions, but will not cover NFTs, or “non-fungible tokens”. Huang said […]
Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central […]
PDD Holdings Inc, which owns discount e-commerce platforms Pinduoduo and Temu, missed expectations on Monday for fourth-quarter revenue as China’s post-reopening consumer recovery remains patchy. U.S.-listed shares of PDD Holdings fell as much as 13.9% in premarket trading. PDD reported revenue of 39.82 billion yuan ($5.79 billion) for the quarter ended Dec. 31, up 46% […]
A trade group representing rideshare and delivery companies such as Uber and Lyft is asking President Joe Biden’s nominee to lead the U.S. Department of Labor, Julie Su, to explain her position on worker-classification rules. The Flex Association sent a letter to Biden on Monday asking that Su explain how she would implement a proposed rule that […]
Baidu’s unveiling of its Ernie bot last week thrust the Chinese search engine giant into a race against global tech peers Microsoft and Google who are also building powerful artificial intelligence-driven chatbots and products. Questions had remained over how Ernie and other Chinese chatbots in development would treat topics that are sensitive in mainland China, where […]
Indian Kashmir is to get its first foreign investment, with Dubai’s Emaar Group due to build a $60 million shopping and office complex, as the government looks to stabilise a region where Muslim separatists have for years battled the government. The 5 billion rupee ($60.50 million) development will include a shopping mall and multi-purpose commercial […]
Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country’s gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show. Swiss authorities announced on Sunday that UBS had agreed to buy rival […]
Switzerland’s two biggest political parties sharply criticized UBS’s takeover of Credit Suisse saying multi-billion state support for the deal created enormous risks for the country. Swiss authorities announced on Sunday that UBS had agreed to buy rival Swiss bank Credit Suisse in a shotgun merger aimed at containing a crisis of confidence that was spreading through global banking. Parties across the […]
Thailand dissolved its parliament on Monday to clear the way for an election in May, a vote set to reignite a long-running power struggle between a military-backed establishment and a political movement that has dominated elections for two decades. King Maha Vajiralongkorn endorsed a decree to dissolve parliament, according to an announcement in the Royal […]
