Half Mag / Half Zine
Half Mag / Half Zine
Volkswagen (VOWG_p.DE) CEO Herbert Diess’ frail relationship with German labour representatives hit a new low this week with disagreement over how radical the overhaul at Europe’s top carmaker must be in its quest for electric vehicle dominance. While both sides tried to demonstrate unity at a staff meeting on Thursday, the first at Volkswagen’s giant […]
JPMorgan cuts its fourth quarter growth forecast for China to 4.0% quarter-on-quarter from 5.0% on Friday, citing the impact of power shortages and the recurrence of COVID-19 clusters hitting consumer spending and services. “Looking back, we have downgraded China’s growth forecasts five times since August,” JPMorgan’s Haibin Zhu said in a note, adding the bank […]
BMW will cut working hours at its east German plant from 38 to 35, in line with its west German factories, it said on Friday, in a move welcomed by the works council as bringing long-awaited equality 30 years after the fall of the Berlin Wall. Salaries and working hours remain uneven between western and […]
Chinese developer Yango Group (000671.SZ) has reached an agreement with investors to extend the payment of its onshore bond due November 19, two sources familiar with the matter said. Repayment of Yango’s 7.8% November 2021 bond , with an outstanding value of 636.5 million yuan ($99.45 million) will be extended by one year, the sources […]
Roche’s (ROG.S) family owners have been saved from having to make an expensive offer for the rest of the pharmaceuticals giant’s shares after its $20.7 billion deal to buy back Novartis’s (NOVN.S) stake took them over a voting threshold. Novartis said on Thursday it would sell its nearly one-third voting stake in Roche back to […]
Japanese automakers Honda Motor Co (7267.T), Nissan Motor Co (7201.T) and Toyota Motor Corp’s (7203.T) sales in China tumbled again in October as a microchip shortage hit vehicle production in the world’s biggest car market. Honda said it sold 148,377 vehicles in China last month, down 18% from a year earlier, while Nissan said it […]
Deutsche Telekom (DTEGn.DE) announced on Friday a fibre optic joint venture with Australian investor IFM, which will buy a 50% stake in the German telecommunications company’s fibre optic unit GlasfaserPlus GmbH for 0.9 billion euros ($1.04 billion). The partnership will help Deutsche Telekom ramp up its fibre optic investments of more 30 billion euros by […]