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Software update can fix Fiat Chrysler's U.S. diesel issue - lawyer

WASHINGTON Fiat Chrysler Automobiles NV believes a software update can address U.S. regulators' contention that its diesel vehicles are producing excess emissions, a lawyer for the company said at a court hearing on Wednesday.

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GM to cut jobs in international HQ in Singapore -source

General Motors Co will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets.

Budget 2017, Business 4:03am IST
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Analysts wary over Fiat Chrysler's emissions but say not as bad as VW

MILAN Any potential fines Fiat Chrysler (FCA) may need to pay to settle a U.S. civil lawsuit over diesel emissions will unlikely top $1 billion, analysts said, adding the case appeared less serious than at larger rival Volkswagen.

Tech, Budget 2017, Business 24 May 2017
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China's Geely buys 49.9 pct of Malaysian automaker Proton

KUALA LUMPUR/BEIJING Geely, the owner of Sweden's Volvo Car Group, on Wednesday said it would buy 49.9 percent of struggling Malaysian carmaker Proton from conglomerate DRB-HICOM Bhd, marking the Chinese automaker's first push into Southeast Asia.

Budget 2017, Business 24 May 2017
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China's Geely buys 49.9 percent of Malaysian automaker Proton

KUALA LUMPUR/BEIJING Geely [GEELY.UL], the owner of Sweden's Volvo Car Group, on Wednesday said it would buy 49.9 percent of struggling Malaysian carmaker Proton from conglomerate DRB-HICOM Bhd , marking the Chinese automaker's first push into Southeast Asia.

24 May 2017
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Mahindra & Mahindra to build long-range electric vehicles

MUMBAI Automaker Mahindra & Mahindra will invest in building long-range electric vehicles, high-power battery packs and power trains in an effort to boost green car sales, senior company executives said on Wednesday.

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U.S. government sues Fiat Chrysler over excess emissions

WASHINGTON The U.S. government filed a civil lawsuit on Tuesday accusing Fiat Chrysler Automobiles NV of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014.

Budget 2017, Business, Tech 24 May 2017
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Analysis - India's electric vehicles push likely to benefit Chinese car makers

NEW DELHI India's ambitious plan to push electric vehicles at the expense of other technologies could benefit Chinese car makers seeking to enter the market, but is worrying established automakers in the country who have so far focused on making hybrid models.

Business News

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Oil prices rise in anticipation of extended OPEC-led output cut

SINGAPORE Oil prices rose ahead of an OPEC meeting on Thursday that is expected to extend output cuts into 2018, adding at least nine months to an initial six-month curb in the first half of this year.

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Asia shares race to two-year high as Fed signals no rush to tighten

TOKYO Asian shares scaled two-year highs on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings.

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ChemChina raises $20 billion for Syngenta deal via perp bonds, preferred shares

HONG KONG ChemChina has raised $20 billion in perpetual bonds and preferred shares to finance its acquisition of Swiss seeds maker Syngenta, according to a regulatory filing by the state-owned Chinese company.

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Moody's downgrades Hong Kong after China ratings cut

HONG KONG Moody's Investors Service downgraded Hong Kong's local and foreign currency issuer ratings just hours after it cut China's credit ratings for the first time in nearly 30 years.