Autos
In Brexit boost, Jaguar Land Rover to hire 5,000 staff
LONDON Britain's biggest carmaker Jaguar Land Rover (JLR) will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election.
Latest Auto News
BRIEF-Peugeot issues 44,903,318 new ordinary shares - Euronext
* FOLLOWING EXERCISE OF NON LISTED STOCK WARRANTS PEUGEOT ISSUES 44,903,318 NEW ORDINARY SHARES, WHICH WILL BE LISTED ON EURONEXT PARIS MARKET AS OF JUNE 21, 2017 Further company coverage: (Gdynia Newsroom)
BRIEF-Shenyang Jinbei Automotive to sell automobile unit for 371 mln yuan
* Says it plans to sell automobile unit for 371.0 million yuan ($54.44 million)
Auto supplier Magna to manufacture BMW 5-series plug-in hybrids
SAN FRANCISCO Canadian auto supplier Magna International Inc will produce BMW's new 5-series plug-in hybrid at its Austrian factory, the company said on Monday, part of a strategy to produce electric cars on a contract basis for global automakers.
Auto supplier Magna to manufacture BMW 5-series plug-in hybrids
SAN FRANCISCO, June 19 Canadian auto supplier Magna International Inc will produce BMW's new 5-series plug-in hybrid at its Austrian factory, the company said on Monday, part of a strategy to produce electric cars on a contract basis for global automakers.
Trump to meet with tech CEOs on government overhaul
WASHINGTON President Donald Trump will meet with the chief executives of technology companies including Apple Inc and Amazon.com Inc on Monday as the White House looks to the private sector for help in cutting government waste and improving services.
Trump to meet with tech CEOs on government overhaul
WASHINGTON, June 19 President Donald Trump will meet with the chief executives of technology companies including Apple Inc and Amazon.com Inc on Monday as the White House looks to the private sector for help in cutting government waste and improving services.
UPDATE 1-In Brexit boost, Jaguar Land Rover to hire 5,000 staff
LONDON, June 18 Britain's biggest carmaker Jaguar Land Rover (JLR) will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election.
Subaru takes slow lane for self-driving cars, says costly for buyers
TOKYO, June 19 While major automakers race to develop driverless cars, Subaru is taking a slower approach, saying its vehicles may be less advanced than its rivals' by 2020 as autonomous features remain costly for the buyers of Japan's smallest carmaker.
Fiat Chrysler denies report it has decided to pull Chrysler brand from Japan
TOKYO Fiat Chrysler Automobiles denied it had decided to pull the plug on the Chrysler brand in Japan, after local media reported it was planning to stop selling the U.S. cars in the country as early as next year following years of poor sales.
South Korea's antitrust chief to urge change in talks with chaebol execs
OSONG, South Korea South Korea's antitrust chief said on Monday that he will urge powerful family-run business empires including Samsung and Hyundai to "voluntarily" reform themselves when he meets executives in the wake of a bruising political bribery scandal.
S.Korea's antitrust chief to urge change in talks with chaebol execs
OSONG, South Korea, June 19 South Korea's antitrust chief said on Monday that he will urge powerful family-run business empires including Samsung and Hyundai to "voluntarily" reform themselves when he meets executives in the wake of a bruising political bribery scandal.
PRESS DIGEST- Wall Street Journal - June 19
June 19 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
Europe's Vedecom, Israel's Karamba developing self-driving car
JERUSALEM European self-driving car company Vedecom Tech and Israel's Karamba Security said on Monday they are partnering in developing fully autonomous cars that will be deployed for limited use in certain European cities within the coming year.
Europe's Vedecom, Israel's Karamba developing self-driving car
JERUSALEM, June 19 European self-driving car company Vedecom Tech and Israel's Karamba Security said on Monday they are partnering in developing fully autonomous cars that will be deployed for limited use in certain European cities within the coming year.
Fiat Chrysler denies report it has decided to pull Chrysler brand from Japan
TOKYO, June 19 Fiat Chrysler Automobiles denied it had decided to pull the plug on the Chrysler brand in Japan, after local media reported it was planning to stop selling the U.S. cars in the country as early as next year following years of poor sales.
UPDATE 3-Japan's May exports rise fastest in over 2 years, set to sustain growth
(Adds data on U.S. trade balance, domestic demand) * Exports rise fastest in over 2 yrs, imports jump most in over 3 * May exports +14.9 pct yr/yr vs f'cast +16.1 pct * Imports +17.8 pct yr/yr vs f'cast +14.8 pct * Solid global demand expected to support Japan's economy By Stanley White TOKYO, June 19 Japan's exports surged in May by the fastest in more than two years on higher shipments of cars and steel, an encouraging sign that robust global demand will help keep the country's modest economic recovery on track. The 14.9 percent annual increase in exports in May was the biggest rise since January 2015 and nearly twice the pace seen in April, though it was below analysts' expectations of 16.1 percent. Japan's imports rose more than expected in May, partly due to increasing demand for intermediate goods companies need to manufacture their products. Exports are likely to continue rising at a steady clip as overseas economies show increasing signs of strength, which should help Japan's economy extend its recent run of expansion. "The main scenario is Japan's exports will continue to recover," said Shuji Tonouchi, senior market economist at Mitsubishi UFJ Morgan Stanley Securities. "However, the pace of growth could slow somewhat as inventories of certain goods, like electronics, start to build up overseas." Exports of cars and car parts rose partly because an earthquake in Kumamoto last year in May temporarily shut down production of these goods, Tonouchi noted. TRADE SURPLUS WITH U.S. SURGES Japan's exports to the United States rose 11.6 percent in May from a year ago, the fastest increase since July 2015, due to an increase of shipments of autos and auto parts. The trade surplus with the United States was 411.1 billion yen ($3.71 billion) in May, up 19.0 percent from the same period a year ago. In April, Japan's trade surplus with the United States fell an annual 4.2 percent. A large trade surplus could draw criticism from the Trump administration, which has repeatedly indicated that it prefers protectionist policies to reduce the U.S. trade deficit and increase exports. Exports to China increased 23.9 percent year-on-year in May, following a 14.8 percent annual increase in April. Larger shipments of flat panels and semiconductor manufacturing equipment drove the gains in China-bound exports. Exports to Asia, which includes China, rose 16.8 percent in May from a year ago, the fastest increase in three months, due to increased shipments of electronics to Hong Kong and steel to Indonesia, the data showed. In terms of volume, Japan's exports rose 7.5 percent in May from a year ago, the fastest gain in three months, another indication that overseas demand is firm. IMPORT GROWTH AT MORE THAN 3-YEAR HIGH Japan's imports rose 17.8 percent in the year to May, the strongest gain since early 2014, versus the median estimate for a 14.8 percent annual increase, as a rise in the price of oil from a year ago pushed up the value of imports. Excluding oil imports, the data showed increasing demand for chemicals, electronic parts and raw materials used in Japanese factories. In terms of volume, imports rose 5.4 percent in May from a year ago, the third consecutive month of gains in a sign of growing demand. The trade balance came to a deficit of 203.4 billion yen, versus the median estimate for a 76.0 billion yen surplus. "You can say domestic demand is doing well, but this is being driven more by the manufacturing sector," said Hidenobu Tokuda, senior economist at Mizuho Research Institute. "There are some gains in durable goods, which are related to consumer spending, but rising factory output is the bigger factor behind imports." Policymakers and economists have become more optimistic about Japan's prospects this year as an increase in factory output and a tightening labour market show the economy is poised to extend its recent growth. The Bank of Japan kept monetary policy steady on Friday and upgraded its assessment of private consumption for the first time in six months. Consumption has been a soft spot in Japan's otherwise strengthening economy, with its weakness blamed for keeping inflation subdued by discouraging companies from raising prices, leaving growth heavily reliant on exports. ($1 = 110.9500 yen) (Reporting by Stanley White; Editing by Eric Meijer and Kim Coghill)
BRIEF-BYD issues 2017 1st tranche corporate bonds worth 1.5 bln yuan
* Says it completed issuance of 2017 1st tranche public corporate bonds worth 1.5 billion yuan
In Brexit boost, Jaguar Land Rover to hire 5,000 staff
LONDON, June 18 Britain's biggest carmaker Jaguar Land Rover (JLR) will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election.
Porsche complete Le Mans hat-trick
LE MANS, France Porsche won the 24 Hours of Le Mans for the third year in a row on Sunday with a stunning last-to-first victory in a race of retirements that left early favorites Toyota nursing more heartache.
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