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Wires

  • *Berlin sees no need to act on Geely's Daimler stake acquisition. *Daimler, Berlin decline comment on meetings. BERLIN, Feb 25- The purchase by Chinese carmaker Geely of an almost 10 percent stake in Germany's Daimler is a company decision and there is no need for Berlin to take action, a German government spokesman said on Sunday.

  • HONG KONG, Feb 25- Baic Motor Corporation and Daimler AG are planning to co-invest more than 11.9 billion yuan to build a new local production base for their joint venture, Beijing Benz Automative, Baic said on Sunday. In a statement to the Hong Kong stock exchange dated Feb. 23, Baic said the new factory would manufacture various Mercedes-Benz products in China...

  • SEOUL, Feb 25- Members of a high-level North Korean delegation visiting South Korea for the closing ceremony of the Pyeongchang Winter Olympics said North Korea was open to talks with the United States, the South's presidential office said.

  • BARCELONA, Feb 25- Cisco Systems said on Sunday it aims to disrupt the wireless radio access market led by Huawei, Ericsson and Nokia by backing challengers who make more flexible software versions of traditional mobile gear. The Silicon Valley company made the announcement ahead of this week's Mobile World Congress in Barcelona, where hundreds of telecom...

  • LONDON— British Labour Party leader Jeremy Corbyn is facing increasing pressure to change the party's Brexit stance ahead of a key speech on Britain's plan to leave the European Union. More than 80 senior Labour Party figures signed a statement published Sunday in The Observer calling for Britain to remain in the EU's single market and the customs union after...

  • NEW YORK— The National Rifle Association, and now the State of Florida, faced a growing backlash Saturday as companies cut ties to the gun industry following the latest school massacre, and student survivors called for tourism boycotts of their home state until gun control measures are enacted. Corporate ties to the NRA aren't the only elements undergoing...

  • SHANGHAI, Feb 25- When the Chinese government on Friday took control of Anbang Insurance Group Co Ltd, owner of New York's iconic Waldorf Astoria Hotel, it cited provisions in the country's insurance law designed to head off financial calamity. "I think any private players in the financial sector who are big enough to potentially be a headache for the government...

  • JERUSALEM, Feb 25- Bezeq Israel Telecom's board will hold a special meeting on Sunday, a source close to the company said, while Israeli media reported that Chief Executive Stella Handler, who is in police custody, could be replaced at least temporarily. Handler and another company official were arrested last week in connection with the Israel Securities...

  • Defense analysts believe that drone, the Wing Loong II, is now being used by the Emirati military while the UAE remains barred from purchasing weaponized drones from the United States. Top UAE officials, including Abu Dhabi's powerful crown prince, Mohammed bin Zayed Al Nahyan, were on hand for the drone conference, which opened on Sunday. Al-Dhafra Air Base near...

  • DUBAI, Feb 25- Gulf stock markets rose in early trade on Sunday in response to gains in global bourses and oil prices at the end of last week, with Saudi Arabian petrochemicals in particular climbing because of Brent crude oil's rebound to the $67 a barrel level. The loss was larger than the 90 million riyal loss forecast by SICO Bahrain, but much smaller than the 417...

  • That was larger than the 90 million riyal loss forecast by SICO Bahrain but much smaller than the 417 million riyal loss predicted by NCB Capital. Abdulmohsen Al Hokair Group for Tourism and Development may see selling after reporting that annual net profit shrank to 8.7 million riyals from 126.3 million riyals; it cited low demand from individuals and...

  • Survivors of a mass shooting at a Florida high school are hoping to expand the reach of their gun control movement by seeking a boycott of companies doing business with the NRA and urging tourists to boycott the Sunshine State. Rental-car company Hertz said it would no longer offer a discount program to NRA members and First National Bank of Omaha, one of the...

  • Feb 24- Bank of America Corp on Saturday became the latest financial heavyweight to take aim at gunmakers, saying it would ask clients who make assault rifles how they can help end mass shootings like last week's massacre at a Florida high school. The weapons have been widely used in U.S. mass shootings, including the one on Feb. 14 that killed 17 people at Marjory...

  • FRANKFURT, Feb 25- The European Investment Bank may ask Daimler to pay back loans extended for research and development in light of a report linking the Mercedes maker to diesel emission-test cheating, Welt am Sonntag reported. The company has received a total of 3.8 billion euros in loans from the EIB since 2000, with around 2 billion still outstanding, the...

  • NEW YORK, Feb 24- Delta Air Lines and United Airlines on Saturday became the latest major corporations to sever marketing ties with the National Rifle Association as the fallout from last week's massacre at a Florida high school took its toll on the gun advocacy group. The issue of gun control, and the NRA's role in opposing it, became the focus of renewed national...

  • LONDON, Feb 24- The Bank of England might need to raise British interest rates somewhat sooner than Deputy Governor Dave Ramsden had expected if wage growth picks up early this year, according to a newspaper interview released on Saturday. However, Governor Mark Carney said at the same event that future monetary policy decisions would depend heavily on how...

  • LONDON, Feb 24- Bank of England Deputy Governor Dave Ramsden said in an interview to be published on Sunday that interest rates might need to rise sooner than he previously thought if wages grow as fast as the central bank expects in the early part of this year. Ramsden was one of two policymakers who opposed the BoE's decision in November to raise interest rates...

  • NEW YORK— Toyota and Hyundai have recalled roughly a combined 110,000 trucks and sport utility vehicles, including the 2018 Toyota Tundra and Sequoia, and the 2018 Hyundai Santa Fe and Santa Fe Sport. In its recall announced Saturday, Hyundai says some of Santa Fe vehicles are at risk for the steering wheel breaking away from the steering column.

  • MOUNDSVILLE, W.Va.— A West Virginia judge has dismissed a lawsuit brought by coal company Murray Energy against HBO host John Oliver. A Circuit Court judge in Marshall County, West Virginia, ruled on Wednesday that Murray's company failed to state a claim. The two-page ruling from Senior Judge Jeffrey Cramer was posted online by The Hollywood Reporter.

  • *Li Shufu has 9.69 pct stake in maker of Mercedes cars. BEIJING/ FRANKFURT, Feb 24- Chinese carmaker Geely has built up an almost 10 percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means...