Business News

Boeing delivers first 737 from new Chinese factory

Boeing delivers first 737 from new Chinese factory

Boeing on Saturday delivered its first 737 airliner from its new factory in China — a debut that comes amid a 90-day truce in the US-China trade war. The 100-acre completion site in in Zhoushan, where workers install interiors to 737s built in Seattle for sale in the Chinese market, is part of the US…

Doors are slamming shut for Huawei in Europe

Doors are slamming shut for Huawei in Europe

Huawei is coming under pressure in two more key European markets. Telecommunications firm Orange has ruled out using Huawei products in its core 5G network in France, and Germany’s Deutsche Telekom says it’s reviewing purchases of Huawei equipment. The Chinese company, which sells smartphones and telecommunications equipment around the world, faces increased scrutiny in the…

China is temporarily slashing tariffs on US auto imports

China is temporarily slashing tariffs on US auto imports

China said Friday it will temporarily reduce tariffs on imports of American-made cars as it tries to negotiate a trade deal with the United States. Citing the meeting earlier this month between US President Donald Trump and Chinese leader Xi Jinping, the Chinese Finance Ministry said in a statement that it will remove the additional…

Meet the pilots of Virgin Galactic’s first flight to space

Meet the pilots of Virgin Galactic’s first flight to space

After months of testing Richard Branson’s rocket-powered plane at lower altitudes, two of Virgin Galactic’s test pilots made it to the edge of space on Thursday — 51.4 miles above Earth. For pilots Mark “Forger” Stucky and Frederick “CJ” Sturckow, looming over the flight was the memory of a tragic test flight in 2014. Virgin…

Trump says GM ‘is not going to be treated well’ after layoffs

Trump says GM ‘is not going to be treated well’ after layoffs

President Donald Trump said Thursday that General Motors CEO Mary Barra made a “big mistake” by laying off thousands of workers and pledged to retaliate against the company. In a Fox News interview with Harris Faulkner, he said he was upset with GM’s plan to restructure its global business, including halting production at five facilities…

Starbucks is going to sell Nitro at all its US stores

Starbucks is going to sell Nitro at all its US stores

Nitro is coming to a Starbucks near you. Every company-operated US Starbucks location will offer the nitrogen-infused cold brew coffee, which comes out of a tap, by the end of next year to meet customer demand, the company said on Thursday. The expansion is part of Starbucks’ plan to sell more products next year —…

Renault says it needs more information on Ghosn allegations

Renault says it needs more information on Ghosn allegations

Renault has given CEO Carlos Ghosn’s pay arrangements a clean bill of health but has still not come to a conclusion about allegations of financial crime that led to his indictment in Japan. Renault said in a statement that its board of directors has now been briefed on the investigation by alliance partner Nissan that…

New soybean orders from China aren’t showing up in trade data — yet

New soybean orders from China aren’t showing up in trade data — yet

China did not immediately restart buying American soybeans after President Donald Trump and President Xi Jinping agreed to a temporary trade truce. Data released by the US Department of Agriculture on Thursday show that China didn’t buy soybeans from the United States during the week ending on December 6, five days after the two leaders…

The electric cars of the future could be recharged in 15 minutes

The electric cars of the future could be recharged in 15 minutes

The next generation of electric cars could charge their batteries in the time it takes to fill up at a gas station. A group of companies including Germany’s BMW (BMWYY), Porsche and Siemens (SIEGY) say they have developed technology that could help make super-fast charging a reality. They unveiled on Thursday a 450 kW charging…

Procter & Gamble builds a strategy to win African-American consumers

Procter & Gamble builds a strategy to win African-American consumers

Procter & Gamble is turning to a startup to help reach African-American consumers who are frustrated with a lack of shaving and shampoo choices. On Wednesday, the consumer products conglomerate announced that it bought Walker & Co. for an undisclosed sum. Walker & Co. is a health and beauty startup founded in 2013 by entrepreneur…

Nissan shares evidence against Carlos Ghosn with Renault

Nissan shares evidence against Carlos Ghosn with Renault

Renault is facing a crunch decision over CEO Carlos Ghosn after Nissan shared details of an investigation that led to his arrest and indictment in Japan. Members of Nissan’s legal team briefed lawyers for the French carmaker in Paris on Monday, the first exchange of information about the case between the partner companies since Ghosn…

Delta changes the way fliers board planes

Delta changes the way fliers board planes

A new boarding process is coming to Delta Air Lines. Beginning on January 23, 2019, the airline will ditch zone boarding in favor of a new — and more complex — process based on ticket type and color. Despite the expansion in number of groups from six to eight, Delta said the new format hopes…

‘I begged them for help’: Wells Fargo foreclosure nightmare

‘I begged them for help’: Wells Fargo foreclosure nightmare

Foreclosures can be extremely painful events. Imagine finding out years later that it was all a big mistake. That’s exactly what happened to Jeff and Eva Reiner. The couple turned to Wells Fargo (WFC), their mortgage servicer, for help making their payments after Eva, the family’s breadwinner, was laid off by Verizon (VZ) in 2010.…

The maker of Mercedes cars is spending $23 billion on batteries

The maker of Mercedes cars is spending $23 billion on batteries

The maker of Mercedes-Benz cars is spending billions on batteries as it accelerates the electrification of its product range. Daimler said in statement on Tuesday it was spending €20 billion ($23 billion) on battery cells, and investing another €1 billion ($1.1 billion) in eight battery factories in Germany, China, Thailand and the United States. The…

Barclays app stops you spending on the wrong stuff

Barclays app stops you spending on the wrong stuff

Barclays rolled out a new mobile banking feature on Tuesday that allows users to switch off categories of spending including drinking, eating out and gambling. Customers can access the feature using a smartphone app. If they try to purchase restricted items, the payment will be declined. The bank said it designed the feature with mental…

Tokyo court rejects Carlos Ghosn’s complaint about his month-long detention

Tokyo court rejects Carlos Ghosn’s complaint about his month-long detention

A Japanese court has rejected a complaint filed by former Nissan Chairman Carlos Ghosn over a decision to extend his three-week detention by another 10 days. Tokyo prosecutors on Monday indicted Ghosn, 64, on accusations he under-reported his income in Nissan corporate filings by about 5 billion yen ($44 million) between 2010 and 2015. They…

Chinese companies are urging employees to boycott Apple and buy Huawei

Chinese companies are urging employees to boycott Apple and buy Huawei

The detention of a top Huawei executive is prompting some Chinese companies and business groups to call for workers to boycott products from US companies like Apple, prompting fears of a wider backlash. Several organizations across China have issued notices urging staff members to show their support for Huawei, threatening punishment against anyone caught with…

Jailed Huawei CFO’s bail decision pushed to Tuesday as tensions persist

Jailed Huawei CFO’s bail decision pushed to Tuesday as tensions persist

The chief financial officer of Chinese tech company Huawei will have to wait another day to learn if she’ll be let go on bail. Meng Wanzhou, who is detained in Canada and faces extradition to the United States, has been held for 10 days. The hearing to determine whether she should be released ahead of…