SEOUL (Reuters) – German carmaker Audi said it will develop batteries for electrically powered sport utility vehicles (SUVs) that can run more than 500 kilometers per charge, in partnerships with South Korea’s LG Chem Ltd and Samsung SDI Co Ltd. The South Korean companies will supply the batteries from plants in Europe, Audi said in a statement on Thursday. Audi, Samsung SDI and LG Chem declined to give financial terms
By Gerry Shih BEIJING (Reuters) – China’s Lenovo Group Ltd will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant’s bet that a money-losing brand it bought for nearly $3 billion will help it become a global smartphone leader. Lenovo, which uses the U.S. dollar in operations rather than the recently devalued Chinese yuan, said it
When it comes to political bragging rights about job creation, a CNBC analysis of state level jobs data shows a slight advantage for this party.
Tesla Motors Inc CEO Elon Musk will invest $20 million as part of the company’s $500 million stock offering in a show of confidence at a time when the electric car maker is burning through cash. Tesla …
A Harvard University student says he lost his internship at Facebook after he launched a browser application that exploited privacy flaws on its mobile messenger. Aran Khanna’s app showed that users of …
Coca-Cola said Thursday it named company veteran James Quincey as president and chief operating officer, creating a new No. 2 position in its chain of command. The world’s largest beverage company says …
Analysts have cut their price targets for Alibaba Group Holding Ltd shares after the stock fell to a post-flotation low on Wednesday on weak earnings and concerns over China’s economy. Alibaba’s shares are now at $73.38, hovering just above their initial public offering price of $68. The average target price fell from $106.82 on Tuesday to $99.09 on Thursday, according to a Thomson Reuters survey of 46 analysts.
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The $60 billion of oil-industry spending cuts this year won’t be enough as crude languishes near a six-year low. The world’s biggest producers will need to trim investments by a further $26 billion to meet sacrosanct dividend payments.
China tried Thursday to ease fears of more big declines for the yuan as companies from global automakers to Chinese clothing exporters faced a new era of uncertain exchange rates. There is “no basis …