South Korea’s Hyundai Motor and affiliate Kia Motors turned in their lowest sales in seven years in 2019 as business in China slumped, missing their target for a fifth straight time, but forecast better numbers for 2020.
(Bloomberg) — The battle over the Thai baht intensified in the new year, with the currency dropping sharply even before domestic markets opened.The baht plunged as much as 1.8% on Thursday, the biggest decline since 2007, to 30.226 against the dollar in early Asia trading. That almost erased all the gains it made in the past three sessions. The currency was trading at about 30.11 against the dollar as of 8:31 a.m. London time.“It’s likely to be central bank intervention given that the central bank has mentioned that they’ll be fighting against baht strength,” said Mingze Wu, a foreign-exchange trader …read more […]
Turkish police have detained several people after the interior ministry launched a probe into the transit of ousted Nissan boss Carlos Ghosn, who after fleeing Japan stopped in Turkey on his way to Lebanon, broadcaster NTV said on Thursday.
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also… …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell 17%.The independent oil producer’s first discovery of the new year comes after a calamitous 2019 in which shares fell 64% and the chief executive officer and exploration chief stepped down. The commercial viability of Tullow’s previous offshore discoveries in Guyana remains in doubt after the reservoirs were found to contain heavy oil.“The Carapa-1 result …read more […]
Chinese smartphone maker Xiaomi Corp will invest more than 50 billion yuan ($7.18 billion) in artificial intelligence and fifth generation internet technologies over the next five years, as competition in the sector grows. Xiaomi Chief Executive Lei Jun made the announcement in a letter posted on the company’s social media account on Thursday, but did not provide specific investment details. “We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in intelligent full scene, and completely cement our king status in the smart era,” Lei said, using the acronym for artificial …read more […]
German automotive supplier Robert Bosch said Thursday it has developed a sensor that lets cars “see” a three-dimensional view of the road, aiming to lower the cost of technology that could speed the development of self-driving vehicles.
Privately-held Bosch said the internally-developed lidar sensor, which it will show at the Consumer Electronics Show in Las Vegas next week, will cover both long and close ranges on highways and in the city and will work in conjunction with the company’s camera and radar technologies. Lidar technology, which uses light-based sensors to generate a three-dimensional view of the road, remains a relatively young technology that is still in flux. In its current form, it is too expensive for mass market use, but if a cheaper lidar sensor were widely adopted, it could provide more depth data that …read more […]
Oil prices kicked off the new year higher on Thursday as warming trade relations between the United States and China eased demand concerns, while rising tensions in the Middle East fueled worries about supply.
Chinese smartphone maker Xiaomi Corp will invest more than 50 billion yuan ($7.18 billion) in artificial intelligence and fifth generation internet technologies over the next five years, as competition in the sector grows.
Tesla Inc will deliver a second batch of China-made Model 3 sedans to customers on Jan. 7 at an event at its Shanghai plant, a representative for the firm told Reuters on Thursday.
A stone’s throw from Nelson Mandela’s former home in South Africa’s Soweto township, Dumile Badela’s restaurant is now more hectic and lucrative than ever, thanks to Uber Eats, his hungriest customer yet.
Tendayi Kapfidze, chief economist at Nasdaq-listed online lending marketplace Lending Tree, has said that bitcoin is a “pyramid scheme.” “You only make money based on people who enter after you,” Kapfidze told Yahoo Finance in an interview published Thursday. He added that bitcoin has “no real utility.” “They’ve been trying to create a utility for […]The post Bitcoin is a ‘pyramid scheme,’ says an economist appeared first on The Block. …read more […]
HSBC is being drawn into Hong Kong’s political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-center headquarters.
South Korea’s Hyundai Motor and affiliate Kia Motors expect their combined sales to rise 5% in 2020, after missing their annual target for five years in a row.
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