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Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Roku shares have more than quadrupled this year, but the stock has had some rocky days of late as more players jump into streaming.Technologyread more
Walmart is the latest to pull back from the industry. Federal regulators said they will soon ban flavored e-cigarettes while some nations have outlawed the products...Health and Scienceread more
Legal experts say that California, which has pledged to sue, has a strong case that the administration's move is unlawful.Politicsread more
Solomon launched Payback Records last year as his music career was picking up.Financeread more
A group of 23 states on Friday sued to undo the Trump administration's determination that federal law bars California from setting stiff tailpipe emission standards and...Transportationread more
U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend.Politicsread more
Rosengren was one of two central bank officials to vote against Wednesday's quarter-point rate reduction, and explained in a speech to the Stern School of Business at New York...Economyread more
The parent company of Geely, a large Chinese automaker, has bought a nearly 10 percent stake in German car and truck maker Daimler, Bloomberg reported on Friday, citing sources familiar with the matter.
Among other things, Daimler owns the premium automaker Mercedes-Benz and Daimler Trucks, a commercial truck business.
This makes Zhejiang Geely Holding Group Daimler's largest investor, Bloomberg said. The deal is worth just over $9 billion.
In addition to owning one of China's largest auto brands, Zhejiang Geely Holding Group also owns Swedish automaker Volvo Cars and has a stake in Volvo Trucks, which was split from Volvo Cars in 1999.
"Chinese companies understand that leading European firms lean heavily on the People's Republic for sales and profits," said Michael Dunne, president of Dunne Automotive, a Hong Kong-based investment advisory firm focusing on automotive markets in Asia.
Mercedes-Benz sold more cars in China than any other market last year, some 600,000 cars and SUVs, he said. That's twice what they sold in the U.S.
"While companies like Geely continue to develop their own products for the long-term, they see an opportunity to own some winners right now," he said. "Plus they get access to first-class German technology, which has a reputation in China that is second to none."