BRUSSELS (Reuters) – EU antitrust regulators have again halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ (267250.KS) $1.8 billion merger with Daewoo (042660.KS), a European Commission filing showed. This is the third tim... More »
BERLIN (Reuters) – Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed on Monday, as demand picked up after lockdown measures to fight the coronavirus were lift... More »
BERLIN (Reuters) – Germany’s DIHK chambers of industry and commerce expect Europe’s largest economy to shrink at least 10% this year due to the coronavirus crisis, its president said on Tuesday, a much more pessimistic view than the government’s forecast. “Thi... More »
YUYAO, China/SHANGHAI (Reuters) – In the eastern Chinese city of Yuyao, a group of five face-masked workers at a Geely auto plant, stood almost shoulder to shoulder behind an SUV as they conducted paint and other quality checks. That scene would not have been ... More »
LONDON/OAKLAND/BUCHAREST (Reuters) – Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he make that would let him open a door without touching the handle? “Everyone has to use their li... More »
SEOUL (Reuters) – Some South Korean workers at Samsung Electronics (005930.KS) and Hyundai Motor (005380.KS) are staying home as a precautionary measure as corporate Korea scrambles to prevent the coronavirus outbreak from causing widespread disruption in its ... More »
WASHINGTON (Reuters) – The “phase one” U.S.-China trade deal will nearly double U.S. exports to China over the next two years and is “totally done” despite the need for translation and revisions to its text, U.S. Trade Representative Robert Lighthizer said on ... More »
BOSTON (Reuters) – It’s nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, acco... More »
BERLIN (Reuters) – German industrial orders fell more than expected in August on weaker domestic demand, data showed on Monday, adding to signs that a manufacturing slump is pushing Europe’s largest economy into recession. Contracts for ‘Made in Germany’ goods... More »
NEW YORK (Reuters) – Record heatwaves in Europe and Asia this summer are leading fund managers to buy shares of air conditioning manufacturers, betting that the public health risks of rising temperatures will compel businesses and apartment building owners to ... More »
ZURICH (Reuters) – ABB (ABBN.S) Chairman Peter Voser said he was convinced he had got the right man to transform the Swiss engineering group after it announced Sandvik (SAND.ST) boss Bjorn Rosengren would become its next chief executive. Rosengren will take ov... More »
ZURICH (Reuters) – ABB’s (ABBN.S) largest shareholder Investor AB (INVEb.ST) is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday. “We welcome the appointment of B... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said his administration would not grant Apple Inc any relief for tariffs on parts made in China for its Mac Pro computer and later added he thought the firm would build a plant in Texas. “Apple will ... More »
BERLIN (Reuters) – German exports rebounded more strongly than expected in May but failed to fully recover from a slump a month earlier, data showed on Monday, as trade conflicts cool Europe’s largest economy in the second quarter. Exports grew by 1.1% on the ... More »
WASHINGTON (Reuters) – President Donald Trump said on Sunday that the United States is “right where we want to be with China,” adding that Beijing “broke the deal with us” and then sought to renegotiate. “We will be taking in Tens of Billions of Dollars in Tar... More »
JENA, Germany (Reuters) – From the 12th floor of Jenoptik’s headquarters, chief executive Stefan Traeger points to his laser factory and the university that provides it with talent. Welcome to “Optics Valley” – a role model for Germany’s East in a big year for... More »
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to ... More »
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are in Beijing this week as Chinese and American negotiators try to hammer out a trade deal to ease a trade war and avert an increase in U.S. tariffs ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal. Asked during an event in the Oval Office whether there wou... More »
SEOUL (Reuters) – State-owned Saudi Aramco plans to invest up to $1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil. Saudi Aramco is already the biggest sha... More »
WASHINGTON (Reuters) – U.S.-China trade talks will reach a pivotal phase this week when Chinese Vice Premier Liu He comes to Washington for negotiations with his U.S. counterparts, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven ... More »
BERLIN (Reuters) – Germany agreed new rules on Wednesday to lower the threshold for screening and even blocking purchases of stakes in German firms by non-Europeans, in a move to fend off unwanted takeovers by Chinese investors in strategic areas. The decision... More »
WASHINGTON/SHANGHAI (Reuters) – U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in BMW and Daimler AG who manufacture in the United States for export to the world’s biggest auto market. Shares of Ch... More »
LONDON (Reuters) – European shares made a modest bounce on Tuesday, recovering slightly after trade tensions sent stock markets into a spiral as investors shed risky assets. The pan-European STOXX 600 was up 0.3 percent by 0837 GMT, but was far from making up ... More »
MILAN (Reuters) – Some European and U.S. fund managers are stepping back into Italian equities after fresh angst about a break from the euro zone wiped five months of gains off Milan’s top share index. Analysts expect uncertainty about Italy’s role in Europe a... More »
BERLIN (Reuters) – German economic growth slowed slightly more than expected in the first quarter of the year due to weak trade, data showed on Tuesday, but analysts called it a blip and predicted Europe’s biggest economy would shift into a higher gear again. ... More »
BERLIN (Reuters) – German industrial orders unexpectedly dropped for the third month running in March due to weak foreign demand, data showed on Monday, suggesting factories in Europe’s largest economy are shifting into a lower gear. Contracts for German goods... More »
(Corrects April 27 story in paragraph 10 to say production at a plant in Belgium is planned to start in 2019, and sales are planned to begin in 2020.) By Joseph White ZHANGJIAKOU, China (Reuters) – While auto workers in Germany and South Korea fight to save th... More »
SHINTO, Japan (Reuters) – Japanese engineer Masaaki Nagumo had always dreamed of suiting up as a robot from “Mobile Suit Gundam”, his favorite animation series growing up. Now he has made it a reality by creating a giant humanoid inspired by the science fictio... More »
BOSTON (Reuters) – Activist investor Barington Capital Group LP has launched a fight for two board seats at machine industry company Xerium Technologies Inc., according to a regulatory filing made on Thursday. The New York-based hedge fund, which owns 5.05 per... More »
The glass entranceway to Metal Box InternationalÕs toolbox factory is seen in Franklin Park, Illinois, U.S., February 21, 2018. Picture taken February 21, 2018. REUTERS/Timothy Aeppel FRANKLIN PARK, Ill. (Reuters) – Nestled in an industrial park near the end o... More »
FILE PHOTO – Workers of planemaker Airbus stand in front of the main entrance during a 24-hour strike of German Metal Workers Union IG Metall in Hamburg-Finkenwerder, Germany, February 2, 2018. REUTERS/Fabian Bimmer FRANKFURT (Reuters) – Industrial workers and... More »
BMW workers during a 24-hour strike by German industrial trade union IG Metall in Berlin, Germany, February 2, 2018. Placard reads “6% more, we find fair”. REUTERS/Christian Mang FRANKFURT (Reuters) – Car factories across Germany were at a standstill on Friday... More »
FILE PHOTO: A Atlas Copco company logo is pictured at the “Bauma” Trade Fair for Construction, Building Material and Mining Machines and Construction Vehicles and Equipment in Munich, southern Germany, April 11, 2016. REUTERS/Michael Dalder/File Photo STOCKHOL... More »
SHANGHAI (Reuters) – China’s blockchain-related companies extended their bullish run on Friday, as punters brushed aside concerns raised by regulators about the rationality of stock price surges this week. Blockchain mania continued to propel the shares of a d... More »
A Keppel Corporation logo in the central business district of Singapore February 22, 2016. REUTERS/Edgar Su SINGAPORE (Reuters) – Singapore’s Keppel Corp Ltd (KPLM.SI) said the impact of a mammoth fine borne by its offshore unit will be a ‘one-off’ in this yea... More »
COPENHAGEN/LONDON (Reuters) – Activist hedge fund Primestone Capital on Wednesday urged U.S. cleaning equipment company Tennant and Danish peer Nilfisk to consider merging after building up minority stakes in both firms. “Primestone Capital owns more than 5 pe... More »
At Beijing's sprawling Renmin University of China, two shiny new couriers dart through throngs of students to deliver parcels throughout the day. More »
As the froth comes off China’s home prices, there are increasing signs that some property developers, particularly those with a heavy debt load, are becoming less aggressive. More »
Billionaire investor Daniel Loeb's hedge fund Third Point LLC bought a stake in Dover Corp during the third quarter and is urging the industrial conglomerate to sell off its energy business among other things. More »
Chinese exporters at the country's biggest trade fair are more optimistic about global demand now than six months ago but Beijing's crackdown on pollution is ramping up costs and product prices, hurting smaller factories and foreign buyers. More »
Boeing Co (BA.N), the world's biggest maker of passenger jets, has used Kobe Steel (5406.T) products that include those falsely certified by the Japanese company, a source with knowledge of the matter told Reuters. More »
The revelation that Japan's third-biggest steelmaker Kobe Steel Ltd (5406.T) fabricated data for some of its aluminum and copper and other products has left affected manufacturers scrambling to pin down the potential impact. More »
Europe's Airbus does not buy products directly from Japan's Kobe Steel but is investigating whether any of its suppliers have been affected by a cheating scandal at the Japanese group, an Airbus spokesman said. More »
German industrial production jumped more than expected in August, posting its biggest monthly increase in more than six years, data showed on Monday, in a further sign that Europe's biggest economy is set for solid growth in the third quarter. More »
European shares rose on Monday, led by insurers as the downgrade of Hurricane Irma in the United States raised the prospect that costs for the industry may be lower than initially feared. More »
Teva Pharmaceutical Industries Ltd named H Lundbeck A/S Chief Executive Kare Schultz as its new CEO and president on Monday, as it struggles with heavy debts and fierce competition for its generic drugs in the United States. More »
Researchers who warned half a dozen robot manufacturers in January about nearly 50 vulnerabilities in their home, business and industrial robots, say only a few of the problems have been addressed. More »
German industrial production unexpectedly fell for the first time this year in June, data showed on Monday, though it increased in the second quarter overall. More »
A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters, in Wolfsburg, Germany May 19, 2017. Volkswagen (VOWG_p.DE) is considering options for majority-owned transmissions maker Renk (ZARG.F), as the German carmak... More »
FILE PHOTO: A robotic arm fills a glass with Bavarian Weiss beer at the booth of German company Kuka at the world’s biggest industrial fair, “Hannover Fair”, in Hanover, Germany April 24, 2017. Germany has approved rules to make it easier to block the sale of ... More »
People work at a construction site in Tokyo, September 9, 2015. REUTERS/Toru Hanai Japan’s core machinery orders fell more than expected in April, casting doubt on the strength of companies’ capital spending and adding to concerns about the country’s fragile e... More »
FILE PHOTO: Humanoid robots work side by side with employees in the assembly line at a factory of Glory Ltd., a manufacturer of automatic change dispensers, in Kazo, north of Tokyo, Japan, July 1, 2015. REUTERS/Issei Kato/File Photo Desperate to overcome Japan... More »
People shop for handsets at an M1 mobile shop in Singapore March 21, 2017. REUTERS/Edgar Su Top shareholders in Singapore telecoms company M1 Ltd (MONE.SI) have approached potential buyers China Mobile (0941.HK) and global private equity firms, among others, t... More »
A Caterpillar corporate logo is pictured on a building in Peoria, Illinois, U.S. March 19, 2017. REUTERS/Carlo Allegri Caterpillar Inc (CAT.N) said on Friday it will shut its Aurora, Illinois, plant, costing about 800 employees their jobs as the world’s larges... More »
Reporters raise their hands for a question during a news conference by Toshiba Corp CEO Satoshi Tsunakawa and other senior sompany officials at the company’s headquarters in Tokyo, Japan February 14, 2017. REUTERS/Toru Hanai Shares in Toshiba Tec Corp (6588.T)... More »
Solar installers place solar panels on the roof of a residential home in Scripps Ranch, San Diego, California, U.S. October 14, 2016. REUTERS/Mike Blake Environmentally conscious investors are using their pocketbooks to protest President Donald Trump’s plans t... More »
FILE PHOTO: Traffic backs-up going south into Mexico in the border town of San Ysidro, California. September 3, 2015. REUTERS/Mike Blake Investors are starting to focus on lead due to the large amounts of the metal in batteries used in increasingly popular sto... More »
The corporate headquarters of Caterpillar Inc. the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines, based in Peoria, Illinois August 5, 2009. REUTERS/Jeff Haynes Federal law enforce... More »
A Caterpillar grader works at a development in Arvada, Colorado March 2, 2017. REUTERS/Rick Wilking After U.S. authorities raided Caterpillar Inc’s Peoria, Illinois, headquarters as part of a criminal investigation Thursday, the company stated the search was p... More »
A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai Japan’s Toshiba Corp (6502.T) is preparing a potential $2 billion divestment of smart meter group Landis+Gyr, hoping to rake in capital af... More »
People carry bags outside a shopping mall on the last day of Christmas shopping in Berlin December 23, 2014. REUTERS/Hannibal Hanschke The German economy quadrupled its growth rate to 0.4 percent in the fourth quarter of 2016 as higher state spending, rising p... More »
Employees work on a turbine at the General Electric plant in Belfort, France, February 22, 2017. REUTERS/Vincent Kessler President Donald Trump, who has vowed to stop U.S. manufacturing from disappearing overseas, will seek job-creation advice on Thursday from... More »
Actor Matt Damon attends a red carpet event promoting Chinese director Zhang Yimou’s latest film ‘Great Wall’ in Beijing, China December 6, 2016. REUTERS/Jason Lee China’s box office is set to end the year with its smallest growth in a decade, clouding the out... More »
A trader works at his desk as the U.S. presidential town hall debate between Republican U.S. presidential nominee Donald Trump and Democratic nominee Hillary Clinton is shown on television at Citibank’s trading floor located in central Sydney, Australia, Octob... More »
General view at the STX Les Chantiers de l’Atlantique shipyard site in Saint-Nazaire, western France, October 20, 2016. REUTERS/Stephane Mahe The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against nati... More »
Bain, Apollo and Lone Star have been shortlisted in the sale of building materials maker Xella, a potential 2 billion euro ($2.18 billion) deal, according to several people close to the transaction. More »
The company’s logo is seen on protection grids of a traction transformer at a plant of Swiss engeneering group ABB in the town of Turgi west of Zurich June 9, 2010. REUTERS/Arnd Wiegmann/File Photo ABB has appointed Guido Jouret as its first chief digital offi... More »
By Greg Roumeliotis | NEW YORK NEW YORK U.S. water technology company Xylem Inc is nearing a deal to acquire Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion, including debt, according to people familiar with t... More »
By Aradhana Aravindan and Marius Zaharia | SINGAPORE SINGAPORE Sherine Toh says her best days at work are when none of the 600-or-so staff at Singapore’s Tung Lok Restaurants (TGLK.SI) quits, though such days are rare. The Chinese restaurant group is one of th... More »
NEW DELHI Sanjay Kumar is beaming with joy. The 23-year-old has just bought a used motor scooter, his first, for 30,000 rupees ($445), after years of saving together with his mother. He says the Maestro Scooter by Indian motorbike maker Hero will let him ferry... More »
MUNICH, Germany Robots that work as assistants alongside people are set to upend the world of industrial robotics by putting automation within reach of many small and medium-sized companies for the first time, industry players said this week. Collaborative rob... More »
MUNICH, Germany Europe’s growing army of robot workers could be classed as “electronic persons” and their owners liable to paying social security for them if the European Union adopts a draft plan to address the realities of a new industrial revolution. Robots... More »
BERLIN Germany denied interfering in Chinese home appliance maker Midea’s 4.5 billion euro ($5 billion) bid for industrial robot maker Kuka on Friday, saying it was not organising a rival offer. German media have reported that German Economy Minister Sigmar Ga... More »
LOS ANGELES (Variety.com) – Italy’s “Cinema Paradiso” director Giuseppe Tornatore has struck a deal to make a movie with China’s Alibaba Pictures Group, the film making arm of e-commerce giant Alibaba. The deal was symbolically signed by Tornatore and Zhang Qi... More »
NEW YORK U.S. business conditions are the strongest since the summer of 2014 as sentiment has recovered from a weak start to the year, signaling companies’ willingness to make capital expenditures, Morgan Stanley economists said on Friday. More investment in e... More »
TOKYO Japanese electronics maker Panasonic Corp (6752.T) has agreed to buy a majority stake in U.S. refrigeration systems maker Hussmann from a private equity firm for over 150 billion yen ($1.2 billion), people familiar with the matter said on Monday. Panason... More »
BERLIN German industrial output inched up in October, data from the Economy Ministry showed on Monday, in a sign that this sector of Europe’s largest economy is recovering slightly at the start of the fourth quarter after a rough patch in the summer. While the... More »
Viacom Inc’s (VIAB.O) second-largest shareholder has urged the media company to sell a stake in its Paramount movie studio to Alibaba Group Holding Ltd (BABA.N), according to the Financial Times. “If Alibaba is going to be serious about getting into the entert... More »
TOKYOActivist investor Daniel Loeb, famously branded a carpet-bagger by actor George Clooney, has turned from bruiser to charmer in Japan, where he has added diversified retailer Seven & I Holdings to his portfolio. Sources familiar with the situation say Loeb... More »
BEIJING China and Russia are set to sign an agreement on developing a wide-bodied airliner before the end of the year, the China Daily reported on Monday, quoting the president of Russia’s state-controlled United Aircraft Corp, Yury Slyusar. United Aircraft an... More »
DALIAN, China In a cavernous showroom on the outskirts of this port city in northeastern China, softly whirring lathes and svelte robot arms represent Dalian Machine Tools Group’s (DMTG) vision of an automated future for Chinese manufacturing. On closer inspec... More »
LONDON The Chinese slowdown is forcing many Western companies to take a hard look at their businesses there, leading many to reduce investments, costs and product lines and to tackle increasing bad debts. Double digit growth rates during the first decade of th... More »
