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Fiat Recalls 1,223 Imported Autos in Chinese Mainland

Italian automaker Fiat will recall 1,223 imported vehicles in China's mainland from Wednesday to fix problems that could pose safety risks, China's quality watchdog said Tuesday. The recall involves the models Fiat Bravo 198 MT and 198 MTA that were imported in 2008 and 2011, the ...

Chinese Candy Maker Confirms Acquisition Talks with Nestle

Leading Chinese candy maker Hsu Fu Chi, which is listed in Singapore, confirmed on Tuesday that it is in acquisition talks with Swiss food giant Nestle. Nestle also separately confirmed the talks on Monday. Founded in 1992, Hsu Fu Chi has been the industry leader in China with a ...

Volkswagen's New Version of Magotan Sedan Put into Production in China

Volkswagen AG's Chinese joint venture began production of its new model of B-class sedan Magotan on Tuesday, sources with company said. The seventh generation of Magotan is manufactured in FAW Volkswagen Automobile Co., Ltd, the joint venture between China's FAW Group and ...

Bank of China Plans Global Expansion: Report

Bank of China Ltd (BOC), one of the big four state-owned Chinese banks, will continue to expand its overseas network, despite becoming much more reliant on the domestic market in recent years, China Daily reported Tuesday. "By 2020, we expect to become a truly world-class bank," ...

Shenhua wins 40% stake in coal project

BEIJING - Shenhua Group Corp Ltd is to get a 40 percent share in developing Mongolia's Tavan Tolgoi coalfield, the world's largest untapped source of coal, which will help the country to further diversify its energy resources. The Mongolian government announced on its official ...

Northwest Nonferrous takes controlling stake in Synergy Metals

XI'AN -- Northwest Nonferrous International Investment (NNII) announced it has acquired a controlling stake in Synergy Metals Ltd with A$12.6 million. About 1.05 billion common shares of Synergy Metals has been transferred to NNII, taking 48.7 percent of the former's total equity...

Bright Food denies Treasury Wine buy talks

China's Bright Food Group said on Tuesday it is not in talks to buy any Australian wine assets, denying a media report that it was in internal talks on bidding for Australia's Treasury Wine Estates Ltd. "Currently, we have no Australian wine acquisitions in the works," said Pan ...

Bright Food may want to purchase vintner

Melbourne, Australia/SHANGHAI - Treasury Wine Estates Ltd rose by a record in Sydney trading as two people familiar with the matter said China's Bright Food Group Co is considering making an offer for the world's second-largest winemaker. The vintner surged as much as 11 percent, ...

Tesco, Gome enter strategic cooperation

BEIJING - Tesco PLC, the world's third-largest grocery chain by sales, on Monday signed a strategic cooperative agreement with Gome Electrical Appliances Holdings Ltd. The move signals a further step in the UK retailer's development of shopping malls and underlines its ambition ...

Candy maker confirms acquisition talks with Nestle

SINGAPORE -- Chinese candy maker Hsu Fu Chi, which is listed in Singapore, confirmed on Tuesday that it is in acquisition talks with Swiss food giant Nestle. Nestle also separately confirmed the talks on Monday. Founded in 1992, Hsu Fu Chi has been the industry leader in China ...

Baidu Goes English with Bing Deal

CHINA'S largest search engine Baidu has teamed up with Microsoft's Bing to provide English language search results for users as part of their drive to appeal to a broader user base. The product, which is set to be launched later this year, will allow users to see English language ...

ABC Expects One or Two Rate Hikes in H2

It is necessary for China's central bank to raise the benchmark interest rate once or twice in the second half of this year to curb rising inflation, according to a report by the Agricultural Bank of China (ABC). In its six-month report on China's macro economy, ABC said an ...

Hsu Fu Chi in talks With Nestle on acquisition

Chinese snack and candy maker Hsu Fu Chi International Ltd said Nestle SA is among the parties in talks to buy the company, Bloomberg reported Monday. Nestle, the world's largest food maker, is assessing a potential bid for Hsu Fu Chi and the two companies have been in talks on a ...

Airbus says it is grateful for help from Party in Tianjin

TIANJIN - The European aircraft maker Airbus SAS has expressed gratitude to a Communist Party of China commission for helping it to make its Tianjin factory into a good workplace, a feat that has been essential to ensuring the factory manufactures jets that are of equal quality ...

Report: CEO turnover rate low

SHANGHAI - China had the lowest turnover rate for chief executive officers in 2010, according to a report by the consulting firm Booz & Co. That has helped to lower the rate for the world to 11.6 percent, which is the lowest it has been since 2003, said Andrew Cainey, managing ...

GM to Recall 10,000 Trucks, SUVs

General Motors Co. said Friday that it is recalling more than 10,000 trucks and SUVs worldwide in two separate recalls involving transmission and steering defects, according to a report of Detnews. GM said it is recalling 9,215 2011 Chevrolet Colorado and GMC Canyon vehicles that ...

Car Maker Soars 41pct in Trading Debut

China's battery and electric car maker BYD Co Thursday surged 41 percent on its trading debut on the Shenzhen Stock Exchange despite sluggish vehicle sales and tumbling profits. Backed by US billionaire Warren Buffett, BYD gained 41 percent to 25.45 yuan (US$3.90) after hitting ...

Online fraudsters grab $6.6m through Alibaba

HANGZHOU - Police have rounded up 36 suspects who are believed to be from seven fraud gangs after officers were tipped off by the world's largest business-to-business e-commerce company. The arrests were announced on Wednesday. Alibaba.com Corporation helped solve 281 fraud cases ...

BYD surges in Shenzhen debut

SHANGHAI - BYD Co, the Chinese automaker part- owned by Warren Buffett's Berkshire Hathaway Inc, surged on its trading debut in Shenzhen on Thursday amid speculation it may benefit from government funding for electric-vehicle development. BYD gained 41.39 percent in the city to ...

Problems are growing at SMIC

HONG KONG - Semiconductor Manufacturing International Corp (SMIC), China's biggest chipmaker, said its chairman died, the chief executive officer was voted off the board and the company asked for a stock trading halt. Shareholders rejected CEO David Wang's reappointment as a ...
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