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A Samsung flag flies outside the company's corporate headquarters in Seoul.
Samsung Heir Arrested in Corruption Probe
In a fresh blow to the electronics giant’s corporate image, a district court cited new evidence in approving the arrest warrant against vice chairman Lee Jae-Yong.
Airbus Eurofighter jets.
Austria Sues Airbus Over Eurofighter Deal
A government probe concluded that the Airbus and Eurofighter consortium had “deliberately misled the Austrian Republic on the real price, delivery capabilities and its equipment” of the deal signed in 2003.
Samsung vice chairman Lee Jae-Yong.
South Korea Court Mulls Fresh Bid to Arrest Samsung Heir
Samsung vice chairman Lee Jae-Yong avoided being arrested during hearings last month, after the court ruled there was insufficient evidence, but prosecutors have made a second bid for his arrest, saying they have collected more evidence in recent weeks.
Boeing Machinists Vote Down Union in South Carolina 1
Nearly three-quarters of votes were cast against representation by the International Association of Machinists and Aerospace Workers.
Toyota Recalling Fuel-cell Mirai Vehicles
Toyota Recalling Fuel-cell Mirai Vehicles
The recall is for all the Mirai fuel-cell vehicles sold globally due to a software glitch that can shut off its hydrogen-powered system.
Surge in China Factory-gate Prices Fans Inflation Hopes
Surge in China Factory-gate Prices Fans Inflation Hopes
The surge, as well as a pick-up in consumer inflation, is the latest sign a slowdown in the Asian giant could be coming to an end, although the outlook is clouded by concerns that Donald Trump will press ahead with a protectionist agenda.
Workers assemble an aircraft jet engine at the Rolls-Royce factory in Berlin.
Engine Maker Rolls-Royce Logs Record Loss
The dropping value of the British pound and a settlement related to bribery allegations both dinged the British company, which recorded an annual loss equivalent to almost $5 billion.
Tesla Takes on Gulf Gas Guzzlers
Tesla Takes on Gulf Gas Guzzlers
In 2015 the number of vehicles in Dubai had doubled over the past eight years, leaving the Gulf emirate with more cars per person than New York or London. If that trend continues, the number of vehicles registered could reach 2.2 million by 2020.
Chinese laborers work at a site in Inner Mongolia.
China’s Steel Capacity Grows in 2016 Despite Pledges
Throughout 2016, authorities vowed to tackle excess production through consolidation and shutting idle or inefficient factories. But while some steel capacity was cut, this was more than offset by China’s opening of new factories or restarting of idle plants.
Samsung vice chairman Lee Jae-Yong.
South Korea Summons Samsung Scion Again Over Corruption Scandal 1
The company’s de facto leader narrowly avoided formal arrest last month when prosecutors accused him of bribing a confidante of the president with nearly $40 million. A Seoul court rejected the arrest warrant on grounds of insufficient evidence.
China Exports Surge Tainted by Fears of Trade Turmoil
China Exports Surge Tainted by Fears of Trade Turmoil
China's overseas shipments jumped 7.9% on-year to $182.8 billion.The strong figures come as Beijing looks to position itself as leader of the global trade regime in anticipation of a U.S. retreat under a protectionist Trump administration.
Apple CEO Tim Cook.
Apple CEO Cook: Britain Will Be ‘Just Fine’ Post-Brexit
“We’re a big believer in the United Kingdom. The UK will be just fine. We are very optimistic about the UK’s future, and we are all in.”
Germany's Record Trade Surplus Set to Fuel US Friction
Germany's Record Trade Surplus Set to Fuel US Friction 1
The country's record trade surplus is likely to feed criticisms from the U.S. and elsewhere that Germany exports too many of its machine tools, chemicals, and cars, while failing to reinvest the proceeds.
The ThyssenKrupp logo and wordmark in front of a German elevator testing tower.
FINANCIAL ROUNDUP: Lifted by Elevator Unit, ThyssenKrupp Returns to Profit
In what it described as a “good start to the new fiscal year”,German heavy industry giant ThyssenKrupp reported a net income of 8.0 million euros between October and December. ... Hyundai Heavy Industries reports its first annual profit in three years, after cutting thousands of jobs in an industry-wide slump.
The Nissan logo on a vehicle grille.
Nissan Forges on with Mexico Plant Despite Trump Warnings 2
Nissan, which posted a fall in nine-month profit, said the plant is on track to start producing vehicles this year, adding to its total of 800,000 vehicles made in Mexico every year.
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