EUR/USD 1.15897
0.177%
Gold 4162.15
0.761%
Oil 58.099
0.145%
USD/JPY 155.947
-0.079%
GBP/USD 1.31937
0.223%
GBP/JPY 205.757
0.151%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Abu Dhabi National Oil and Gas Company: Signs $4 billion, 20-year gas supply agreement with EMSTEEL to support UAE industrial development.The Federal Aviation Administration (FAA) is investigating the Amazon MK30 drone that struck power lines in Waco, Texas last week.On November 26th, Haima Automobile stated on its interactive platform that the company has always adhered to a development path combining open cooperation and independent innovation in the field of hydrogen fuel cell vehicles, actively working with outstanding partners in the industry chain to jointly promote technology research and development and industrial application. Currently, the company is steadily carrying out demonstration operations of hydrogen fuel cell vehicles and is committed to building a complete hydrogen energy ecosystem.On November 26th, Mizuho Securities analyst Varatan stated that while the dollar remained stable due to a significantly increased likelihood of a Federal Reserve rate cut, it fell as the probability of Hassett being nominated as the next Fed chair rose sharply. The market does not seem to question the Feds independence, with Fed Chairs Williams, Waller, and Daly all supporting a December rate cut. However, Varatan noted that investors are digesting the possibility that Hassett could politicize the Fed. He said the "Hassett effect" could cast a shadow over the dollar, adding that the risk of dollar depreciation remains high as long as this perception of political subservience in Fed chair appointments persists.On November 26th, after Ukraine agreed to a "simplified" version of its 28-point peace plan, Trump touted significant progress in his peace efforts. However, reports indicate that the most intractable issues in the Russia-Ukraine conflict remain unresolved. The Financial Times reported that US and Ukrainian negotiators left key issues regarding territorial concessions and security guarantees "for further discussion," leaving the decision to Trump and Zelensky. This suggests that negotiations have made little progress compared to before the 28-point plan was leaked last week. The 28-point plan, spearheaded by US Special Envoy Vitkov, heavily favored Russias core demands and included a series of unacceptable clauses for Ukraine, including a ban on future NATO membership and the cession of most of the Donbas region in eastern Ukraine. It remains unclear what Ukraine agreed to in the 19-point plan. The Financial Times quoted Ukraines First Deputy Foreign Minister as saying, "Very little of the original agreement has been retained."

Two GM factories commence operations in South Korea

Charlie Brooks

Jul 26, 2022 11:01

5.png


General Motors Co (NYSE:GMSouthKorean )'s subsidiary resumed production at its two plants in the country this week following a two-week production halt due to procurement difficulties, a GM Korea representative told Reuters on Tuesday.


Since mid-July, the U.S. automaker's Korea operations have suspended production of all vehicles at its Changwon and No. 2 Bupyeong factories after a local supplier refused to provide auto components after requesting a price rise.


ERAE AMS, which supplies components for automakers like Volkswagen AG (OTC:VWAGY), Hyundai Motor Co, and BYD, refused to provide parts to GM Korea's plants and demanded a price increase.


Neither GM Korea nor ERAE AMS were able to comment when contacted by Reuters.


According to the Korea Automobile Manufacturers Association, GM Korea's Changwon and No. 2 Bupyeong facilities have an annual manufacturing capacity of around 70,000 vehicles. This represents almost 30% of GM Korea's entire yearly manufacturing capacity.


According to GM Korea, production at the No. 1 Bupyeong plant that produces the Trailblazer sport utility vehicle (SUV) has not been interrupted.

Suggestion