Company: Volkswagen A G Spons

Surging Chinese demand for sporty sedans and SUVs like the BMW 7 Series and Porsche Cayenne helped propel the two German luxury carmakers to record first-quarter profits, underscoring their growing dependence on Asian customers.

The working day is over and the Christmas holiday has officially begun, but the blinking red light or vibration of a BlackBerry is still maddeningly hard to ignore. The FT reports

Volkswagen is planning to build another manufacturing plant in China and discussions about setting up a facility in Xingjiang province are now at an advanced stage, a person familiar with the matter told Reuters on Wednesday.