Hyundai Motor Co's net profit for the third quarter ending September fell 23 percent. The steep fall in China sales coupled with aggressive global incentives impacted the South Korean automobile major's performance in a more negative way.
Tags: China
Uber plans to raise $1B in fund raising
Last Friday, Uber Technologies have revealed plans of raising $1 billion from a new pool of investors which will make it the most powerful, and most valuable, privately-owned, start-up in the whole world.
Mercedes Car Sales Create New Record in China
The Mercedes-Benz cars manufacturer Daimler had released its third quarter report for record sales and revenues. The car cited strong progress in Western Europe which is its biggest market, but its feat was surpassed by the sales it made in China.
China to Merge it's Three Largest Airlines as part of the state-owned enterprises reformation plans
East Asia's communist country, China is deeming to have merger operation with the nation's largest three major carriers. The said merger talks spark after China revealed its state-owned enterprises reformation plans. Rumors also emerged that the two of the largest airline in China is on merger to create a large fleet on the records.
P&G sales dive to its lowest in 7 quarters, but profit beats expectations
The strengthening of the US dollar has been hitting Procter & Gamble hard as the company reported its biggest sales drop in seven quarters. The company also cited weak demand especially in the overseas market as the reason behind the low sales performance.
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General Motors pre-tax profit for the third quarter has increased by 37 percent or $3.1 billion thanks to a strong truck and SUV sales in North America and improved performance in China.
Rovio Entertainment, the maker of Angry Birds, announced it will reduce a third of its jobs mostly in Finland. The Finnish gaming company, Rovio Entertainment, had concluded from negotiations between employees on August 26. Rovio had deliberated it will cut 213 jobs.
The Finnish telecom network equipment maker Nokia's acquisition plan for French rival Alcatel-Lucent has received the conditional clearance from the Chinese government. The China's Ministry of Commerce has approved it with some conditions on the Euro15.6billion ($17.6bn) deal's antitrust process.
China's economy grows at its slowest pace in more than six years in the third quarter. Gross domestic product between July and September expanded 6.9% from a year ago, its weakest since the first quarter of 2009. While that is better than the forecasted 6.7% growth, it is lower than the 7% recorded in the first two quarters.
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
China uber-like startup, Yidao Yongche announced that the company will be receiving a huge investment from a Beijing-based company, LeTV. According to Yidao Yongche's statement, the three-year-old company is receiving investment worth $700 million by LeTv for 70 percent stake in the ride-hailing app company.
Nestlé's sales from Asia, Oceania and Africa (AOA) region went down 3% and the company whose brands range from Nescafe and KitKat to Perrier has less sales growth forecast for 2015 to around 4.5%. This is way back below its broader objective of 5 to 6% growth in the succeeding years.
The Chinese biggest e-commerce company, Alibaba announced that it will buy the remaining 82 percent of China's YouTube-like service provider, Youku Tudou. According to a source, the company is offering Youku Tudou $26.60 per share totalling up to $3.6 billion.
Many iPhone users are surprised when they could not access Apple News app in mainland China when they were able to use it in many places around the world. Granted that the said app is being tested in the United Kingdom and Australia, still the app is prevented by Chinese censorship from being activated.
