The world's biggest automakers increasingly are making money by producing luxury models and reaping profits in China and North America, management consulting firm McKinsey & Co said in a report issued on Wednesday.
Sectors
Greece says ready to make IMF payment on April 9
Greece will repay a loan tranche to the IMF on time on April 9, its deputy finance minister said on Friday, seeking to quell fears of default after a flurry of contradictory statements on the issue in recent days.
China's Alibaba finance arm, Xiaomi partner in wearable payments
Alibaba Group Holding Ltd's (BABA.N) finance arm and smartphone maker Xiaomi Inc [XTC.UL] said on Thursday they will jointly develop mobile payment systems using wearable technology, a first for China's major tech firms.
Microsoft brings document scanner app to iPhones, Android
Microsoft Corp said on Thursday it is bringing one of its most popular apps, which lets people take photos of a document and turn it into a editable file, to Apple Inc's iPhone and Google Inc's Android.
After dismal 2014, Samsung Electronics charts recovery with new Galaxy phones
Tech giant Samsung Electronics Co Ltd (005930.KS) likely saw January-March earnings slip for the sixth straight quarter, but investors are betting on a rebound this year on healthy chip sales and high hopes for its new flagship smartphones.
Latest News
General Motors Co (GM) (GM.N) on Thursday said its labor costs have risen nearly 50 percent over the past five years in South Korea, where it makes nearly one-fifth of its global output, but that it does not plan to shut any of its four plants there.
U.S. consumer demand for new vehicles began to thaw in March, especially for luxury cars and big trucks, but not every carmaker participated in the uptick.
Shares of Tesla Motors Inc. (TSLA.O) jumped and trading volume surged in the final minutes of trading on Wednesday after the electric car maker issued a press release proclaiming the launch of a new product that turned out to be an April Fool's Day prank.
Flag carrier Oman Air has ordered 20 Boeing Co (BA.N) 737 aircraft as part of a plan to double its fleet to 70 planes by 2020, Chief Executive Paul Gregorowitsch said on Monday.
Greece sent an updated list of reforms to lenders on Wednesday to try to unlock financial aid and avoid a default but euro zone officials said more work was needed before new funds could be released.
Russia faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday.
Brent crude oil futures held around $55 a barrel as speculation continued over whether a preliminary deal over Iran's nuclear programme would be reached, opening the way for more Iranian crude to come into world markets.
Japan remains cautious about signing up to the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss the March 31 deadline for application, but both Taiwan and Norway said they would seek to join the institution.
Global green energy investment surged in 2014, after two years of decline, due to a solar boom in China and Japan and record offshore wind investment in Europe, a U.N.-backed report showed.
