Some of China’s wealthiest tycoons steered billions of dollars into electric car companies to fuel the country’s dreams of becoming a leader in the field. Now a reckoning may be looming as car sales slow and the government reduces subsidies for the nascent industry.
Author: Bloomberg News
White House in Pre-Thanksgiving Push to Get USMCA to Finish Line
The White House is pushing to wrap final negotiations with Democrats on President Donald Trump’s top legislative priority, the U.S.-Mexico-Canada Agreement, by meeting with the Mexican deputy foreign minister Nov. 27.
Mexico Unveils $44 Billion Infrastructure Plan to Boost GDP
Mexico President Andres Manuel Lopez Obrador announced an infrastructure plan worth 859 billion pesos ($44 billion) that includes highways, railways, ports and airports as well as investments in telecommunications, with most of the capital coming from …
Hacker Seeks About $5 Million Ransom From Pemex By Nov. 30
The hacker behind a cyberattack that has crippled Petroleos Mexicanos’ computer systems since the weekend is hoping to squeeze about $5 million out of the company and appears to have set a deadline of Nov. 30.
Brazil Oil Auction a ‘Total Disaster’ as Bidders Stay Away
Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away.
Tesla Hopes to Get China Carmaking License by Year-End
Tesla Inc. has completed its new factory near Shanghai and is working with local authorities to obtain a manufacturing license, which it hopes to receive by the end of the year, Chairman Robyn Denholm said.
China Wants US to Drop Tariffs on $360 Billion of Imports for Trade Deal
China is seeking the rollback of U.S. tariffs on as much as $360 billion of Chinese imports before President Xi Jinping agrees to go to the U.S. to sign a partial trade deal with President Donald Trump, according to people familiar with the matter.
China Wants US to Drop Tariffs on $360 Billion of Imports for Trade Deal
China is seeking the rollback of U.S. tariffs on as much as $360 billion of Chinese imports before President Xi Jinping agrees to go to the U.S. to sign a partial trade deal with President Donald Trump, according to people familiar with the matter.
Keystone Pipeline Shutdown Raises Costs for US Gulf Refiners
The Keystone crude pipeline was shut Oct. 30 after leaking thousands of barrels of crude in North Dakota, the third spill along the pipeline’s route in less than three years.
China Beats US 8-1 When It Comes to Charging Electric Cars
There are almost as many places to charge your electric vehicle in Beijing as there are in the entire United States.