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Toyota to end expansion freeze, invest $1.3 billion in two new Mexico, China plants: sources

Fri, 04/03/2015 - 08:55
Japan's Toyota Motor Corp will spend about 150 billion yen ($1.3 billion) to build two new car plants in Mexico and China, two people familiar with plans said, ending a three-year freeze imposed after unchecked growth lumbered the world's biggest auto maker with too many idle production lines. President Akio Toyoda had been cautious about expanding after Toyota was hit by a capacity glut following the global financial crisis. The new plants will raise Toyota's annual production capacity by nearly 300,000 cars, the two people said - 200,000 in Mexico and up to 100,000 in China.
Categories: Business

ADB plans to co-finance projects with China's lenders: China Daily

Fri, 04/03/2015 - 08:54
The Asian Development Bank (ADB) plans to work with China's lenders to co-finance Asian projects outside China, ADB vice-president Stephen Groff was quoted on Friday as saying. ADB has signed a memorandum of understanding with the China Development Bank (CDB) and Export-Import Bank of China to "look for opportunities outside China," the China Daily newspaper reported from its interview with Groff.
Categories: Business

Asia shares up on firmer oil prices, but Shanghai lags

Fri, 04/03/2015 - 02:55
Asia shares were higher across the board on Thursday, undeterred by a weaker finish in the U.S. as gains in crude prices overnight boosted oil-related counters.
Categories: Business

Stock market investors ignore hacker attacks at their peril

Fri, 04/03/2015 - 02:55
Stock market investors are ignoring the long term risks that could hurt public companies that suffer major hacker attacks.
Categories: Business

Wall Street snaps two-day rout amid jobs optimism

Fri, 04/03/2015 - 02:55
U.S. stocks climbed on Thursday after two days of heavy selling as traders took a bullish tone ahead of the closely watched monthly jobs report.
Categories: Business

Wells Fargo: Here's where to put your money now

Fri, 04/03/2015 - 02:55
As the market braces for a possible rate hike later in the year, one the highest-regarded Wall Street strategists sees opportunities ahead.
Categories: Business

Marc Andreessen: The secret weapon of HBO's Silicon Valley

Fri, 04/03/2015 - 02:55
HBO's hit comedy Silicon Valley is set for its season 2 premiere on April 12. Here's how one of the real Valley's elite VCs became an integral part of the creative process.
Categories: Business

Uber hires chief security officer from Facebook

Fri, 04/03/2015 - 02:55
(Reuters) - Cab-hailing company Uber Technologies Inc, under fire for how it charges passengers and ensures their safety, said it hired Facebook Inc (FB.O) Chief Security Officer Joe Sullivan. Sullivan, ...
Categories: Business

Distressed Diva Tilton Has More Than Just the SEC to Worry About

Fri, 04/03/2015 - 02:55
Lynn Tilton embraced new and complex forms of debt to fund her companies. It’s those financing methods that are now in the spotlight after the SEC accused her on Monday of crossing the line.
Categories: Business

Arkansas, Indiana enact fixes to measures seen as targeting gays

Fri, 04/03/2015 - 02:55
Indiana and Arkansas revised on Thursday new religious freedom acts that had drawn criticism from rights groups and U.S. companies that assailed them as discriminatory against gays. Arkansas Governor Asa Hutchinson, a Republican, signed his state's Religious Freedom Restoration Act into law minutes after it passed in the statehouse. Indiana Governor Mike Pence, also a Republican, signed a revised religious freedom law that amended one he signed last week. The original measure catapulted the state into a firestorm because it lacked specific provisions to prevent denial of services and other discrimination against gays.
Categories: Business

Facebook's Riff: Do we really need another video app?

Fri, 04/03/2015 - 02:54
This week, Facebook launched a new app that lets users make videos with friends. It's called Riff. Here’s how it works: You shoot a video of up to 20 seconds, give it a title, share it, and your friends can add on to it. It’s being called a hybrid of Snapchat and Vine.
Categories: Business

Goldman Sachs on oil: US needs to cut, not OPEC

Fri, 04/03/2015 - 02:54
The onus for restoring the oil price back to an equilibrium lies on the shoulders of countries like the U.S., a top Goldman Sachs analyst told CNBC.
Categories: Business

Stock split could cost Google over $500 million

Thu, 04/02/2015 - 23:54
An unorthodox stock split designed to ensure Google CEO Larry Page and fellow co-founder Sergey Brin retain control of the Internet's most profitable company could cost Google more than half a billion ...
Categories: Business

Greece tells creditors it will run out of cash on April 9

Thu, 04/02/2015 - 20:54
The appeal was made by Athens at a teleconference of euro zone deputy finance ministers on Wednesday organized to assess how far Greece still was from meeting the conditions for unlocking new financial aid. Greece's finance ministry denied Athens had told its creditors it would run out cash on April 9. "The finance ministry categorically denies an anonymous report by Reuters on issues which were supposedly discussed during the Euro Working Group on April 1," the finance ministry said in a statement.
Categories: Business

Jobs data poised to jolt stocks, VIX out of neutral

Thu, 04/02/2015 - 18:54
Watching this market offers the kind of suspense that comes from watching a sloppily played game that’s tied, with neither team able to take advantage of the others’ mistakes.
Categories: Business

Ford China joint venture acquires factory in $1.1 billion deal

Thu, 04/02/2015 - 16:55
Ford Motor Co's (F.N) joint venture with Chongqing Changan Automobile Co Ltd will takeover and upgrade a factory in northeast China in a 6.6 billion yuan ($1.1 billion) deal, a company spokeswoman said. The factory will increase Changan Ford's production in China by 200,000 vehicles annually to help meet the country's growing demand for passenger vehicles. "We are looking for long-term growth opportunities," Ford spokeswoman Claire Li said, adding that it will help the company's geographic coverage of the country. Ford currently has factories in western China's Chongqing and Hangzhou in the Yangtze River Delta on the eastern coast.
Categories: Business

Wal-Mart support of gay rights turns on business

Thu, 04/02/2015 - 16:55
The chief executive of Wal-Mart Stores (WMT.N) has emerged as an unlikely voice for gay rights after the Arkansas state governor heeded his call on Wednesday to reject a much-criticized bill. For years it has resisted calls by labour groups to pay a "living wage" and its move in February to increase pay to at least $9 an hour was viewed by many analysts as driven by competition for workers in a tight labour market as much as social concerns.
Categories: Business

Live: NY auto show; California drought; Indiana revises law

Thu, 04/02/2015 - 16:55
Join Midday Movers live now for the latest news on the markets, the economy and the biggest stories of the day.
Categories: Business

Obama to criticize GOP for plan to repeal estate tax

Thu, 04/02/2015 - 16:55
President Barack Obama is unhappy about plans by Republicans who control Congress to repeal the estate tax. Obama was traveling to Kentucky on Thursday to visit a Louisville-based technology company and ...
Categories: Business

Germanwings was unaware of co-pilot's 'depressive episode'

Thu, 04/02/2015 - 14:55
Germanwings said Thursday it was unaware that the co-pilot of its plane which crashed in the French Alps last week had suffered from depression during his pilot training. Investigators believe co-pilot ...
Categories: Business