Feed aggregator

Next year to see more workers hired

Shanghai Business - Wed, 12/30/2009 - 00:00

EMPLOYERS in the United States expect to hire more new workers in 2010 than they did in 2009, a sign the recession may be easing its grip, research showed yesterday. One-fifth of employers plan to add full-time,...

US Fed plans term deposits for banks to mop up inflation

Shanghai Business - Wed, 12/30/2009 - 00:00

THE Federal Reserve has proposed allowing banks to set up the equivalent of certificates of deposit at the central bank, a move that would help the Fed mop up money pumped into the United States economy and prevent...

Audi plans to invest US$10b on expansion

Shanghai Business - Wed, 12/30/2009 - 00:00

AUDI AG plans to spend 7.3 billion euros (US$10.51 billion) on plant upgrades, new products and research as it moves to expand its business worldwide and increase market share. Audi, a unit of Volkswagen AG based...

GM Offers Dealers US$7,000 A Vehicle

Shanghai Business - Wed, 12/30/2009 - 00:00

GENERAL Motors is offering huge incentives to dealers to speed up sales of its Saturn and Pontiac brands to boost the maker's December sales, according to the Wall Street Journal. General Motors is to pay US$7,000...

Spyker chief expects Saab decision soon

Shanghai Business - Wed, 12/30/2009 - 00:00

THE chief executive of Spyker Cars expects a decision in days on whether the company has been successful in a bid to buy Sweden's Saab Automobile from United States parent General Motors. "We expect a decision...

Hummer Joint production denied

Shanghai Business - Wed, 12/30/2009 - 00:00

SICHUAN Tengzhong and Shanghai Automotive Industry Corp yesterday both denied media reports saying they would cooperate to produce Hummer sport utility vehicles in China. Sichuan Tengzhong, a little-known heavy...

Beiqi Foton Motor Co Plans to sell extra shares

Shanghai Business - Wed, 12/30/2009 - 00:00

COMMERCIAL vehicle producer Beiqi Foton Motor Co plans to raise 2.5 billion yuan (US$367 million) through selling additional shares to fund technology upgrades on its heavy duty trucks. The affiliate of Beijing...

China CNR makes tepid debut

Shanghai Business - Wed, 12/30/2009 - 00:00

LOCOMOTIVE maker China CNR Corp rose a feeble 2.34 percent yesterday to notch the weakest debut performance in Shanghai trading since a 10-month ban on initial public offerings was lifted in June. China CNR, one...

Bad year for US Ponzi schemes

Shanghai Business - Wed, 12/30/2009 - 00:00

IT was a rough year for Ponzi schemes in the United States. The recession unraveled nearly four times as many scams as fell apart in 2008, with "Ponzi" becoming a buzzword again thanks to the collapse of Bernard Madoff's...

Former SK officials cleared in KEB case

Shanghai Business - Wed, 12/30/2009 - 00:00

AN appeals court yesterday cleared two former South Korean officials of charges they helped private equity firm Lone Star buy a shaky local bank on the cheap in 2003, clearing the way for the buyout group to sell the...