Nissan (OTC:NSANY) Motor Co and Renault SA (OTC:RNLSY) said on Monday they would invest $600 million to make six new models in India. The Japanese and French automakers will work on the projects from their base in Chennai, turning it into an export hub, they said in a statement. The six models, with each automaker
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SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a public listing for Arm this year. The China market has been
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Intel Corp is considering a significant increase in its existing $1.5-billion investment in Vietnam to expand its chip testing and packaging plant in the Southeast Asian nation, two sources familiar with the matter told Reuters. The possible move, which one source said could be worth about $1 billion, would signal a growing role for Vietnam
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Australia’s central bank on Friday revised up its forecasts for core inflation and wages growth and warned of further increases in interest rates, raising the risk the economy could slip into recession. In a hawkish-sounding quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) said domestically-sourced cost pressures were still picking even if
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AstraZeneca PLC (LON:AZN) posted better-than-expected core income in the fourth quarter, thanks to strong demand for its cancer and rare disease therapies that helped make up for waning sales of its COVID-19 vaccine. Core earnings per share during the three months ended on December 31 was $1.38, a drop in actual terms of 17% compared
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Oil prices were muted on Thursday as hawkish comments from Federal Reserve officials supported the dollar and brewed some concerns over more interest rate hikes, while U.S. crude inventories also logged a seventh straight week of builds. Hawkish overnight comments from Federal Reserve officials saw markets reassessing their outlook for U.S. interest rate hikes this
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