U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The office has long been a breeding ground for budding romances. But actively going into business with your other half is another thing entirely.Successread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Before the first car even rolls off the assembly line of a new production plant just outside Charleston, South Carolina, Volvo is expanding plans for the plant.
Sources tell CNBC that the automaker intends to hire an additional 1,900 workers and increase its total investment in the plant to $1 billion. A spokesperson for Volvo would not comment on reports about the increased investment in the U.S.
The Volvo plant in Ridgeville, South Carolina, will build the S60 sedan with the first models expected to roll off the line in 2018. When the company announced plans to build its first U.S. plant, it indicated that the facility would also supply another vehicle in addition to the S60.
"The South Carolina factory is very important for Volvo," Lex Kerssemakers, CEO of Volvo North America, told CNBC last month. "It is a very clear signal that we are dedicated to the U.S. market."
Once the plant is up and running at full capacity, it is expected to produce 100,000 vehicles per year and employ 3,900 people.
Volvo, which is owned by the Chinese automaker Geely, is coming off of record sales in the U.S. in 2016. Last year, the automaker sold 82,726 vehicles in the U.S., according to the automotive research firm Autodata. Despite U.S. sales falling 7.3 percent this year, Kerssemakers is optimistic about Volvo's position in a highly competitive market.
"We clearly see a momentum and you can imagine we are very happy with the momentum we have created in the U.S. since the past two years," he said.