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On August 17th, at Geely Automobiles (00175.HK) interim results press conference, Geely Holding Group CEO An Conghui stated that for Geely Automobiles overseas development, Geely Holding Group will coordinate the resources of its internal brands and external strategic partners to achieve joint investment, joint development, shared production capacity, shared local supply chain systems and talent resources, and shared channels and service networks. According to An Conghui, the Volvo European plant will become an important base for Geelys European strategy, undertaking the production of high-end luxury vehicles within the Geely Automobile Group, and is expected to begin production in 2028. Proton, which Geely previously acquired in Malaysia, is currently undergoing technological upgrades and will be transformed into a Southeast Asian production base with a capacity of 500,000 vehicles. The Spanish plant, a joint venture between Geely and Ford, will also produce related models within the Geely system, with a capacity of 500,000 vehicles, and is expected to begin production in 2028. At this results press conference, Geely Automobile Group announced that its 2026 export target has been raised from 640,000 vehicles to 920,000 vehicles, and it will challenge a sales target of one million vehicles.On August 17th, at Geely Automobiles (00175.HK) interim results press conference, Geely Holding Group CEO An Conghui stated that in the second half of the year, the company will continue to optimize its business and strategic configuration, improve system synergy efficiency, reduce unnecessary internal transactions and construction, and close down or merge redundant companies and projects. Simultaneously, it will promote the integration of more valuable projects, both established and under development, into the Geely Automobile Group.Honda Motor Co., Ltd. (HMC.N): Will resume automobile production at its Saitama, Suzuka and Yokkaichi plants starting August 20.ArcelorMittal SA: Major energy production facilities were damaged.ArcelorMittal SA: The companys factories were operating normally at the time of the attack.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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