Australia’s Kidman Resources to supply lithium for Tesla cars

By Aaron Saldanha Undated, May 17 : Australia’s Kidman Resources said on Thursday it will supply lithium for Tesla Inc’s electric car batteries, the latest in a string of deals by carmakers securing supplies of the mineral as demand surges for clean cars. The deal comes less than a fortnight after Kidman chose a site […]

At meeting with automakers, Trump launches new attack on NAFTA

By David Shepardson WASHINGTON, May 11 : Ten American and foreign automakers went to the White House on Friday to push for a weakening of U.S. fuel efficiency standards through 2025, while President Donald Trump used the occasion to launch a fresh attack on the North American Free Trade Agreement that has benefited the companies. […]

Trump to sit down with major automakers on Friday on fuel rules

By David Shepardson WASHINGTON, May 11 : U.S. President Donald Trump will meet 10 major automakers at the White House on Friday to discuss the fate of landmark fuel efficiency standards and a looming confrontation with California and other major states. A draft proposal circulated by the U.S. Transportation Department would freeze requirements at 2020 […]

Uber expands into Spanish tourist hotspot

By Julia Fioretti BRUSSELS, May 10 : Uber is expanding further into Spain by launching a multi-city ride-hailing service across the Costa del Sol beach resort hotspot before the busy summer season. Thursday’s announcement comes about two months after the U.S. company re-launched in Barcelona with a fully-licensed service after it was forced to shut […]

Under pressure from Elliott, Hyundai Motor to cancel $890 mln in shares

By Hyunjoo Jin SEOUL, Apr 27 : Hyundai Motor said it will cancel $890 million worth of treasury shares, its first stock cancellation in 14 years – a plan that comes amid heavy shareholder pressure to improve returns, restructure and bounce back from dismal earnings. U.S. activist hedge fund Elliott Management ramped up pressure on […]

GM Korea and union to talk again on Friday, seek to stave off bankruptcy

By Hyunjoo Jin SEOUL, Apr 20 : General Motors’ South Korean unit and its labour union are set to hold another round of wage talks on Friday afternoon, keen to stave off a threat by the U.S. automaker to seek bankruptcy for the loss-making unit. GM, which in February announced its plan to shut down […]