Hospital industry avoids deeper cuts, reaches $155 billion cost savings deal with White House
The White House on Wednesday will announce a deal with the hospital industry to cut costs by $155 billion over 10 years, an unidentified health care lobbyist familiar with the negotiations told Bloomberg. An anonymous government official confirmed the announcement to Bloomberg adding that by negotiating, the industry avoided deeper cuts that the administration wanted.
Missing Rio Tinto sales team arrested in China
For iron ore sales people from Australian mining company Rio Tinto were arrested in China, an unidentified Australian source told the Sydney Morning Herald on Monday in a report published today. The Herald confirmed with Australia’s Department of Foreign Affairs that an Australian man had been detained since Sunday and that his family had been informed. The other three people held Chinese passports, according to the report. A spokesman for Australia’s government told the Financial Times its embassy in Beijing is trying to confirm the reports and is “seeking urgent consular access to him.”
China automaker sees big role for Opel on Mainland
There is no official announcement yet, but details of a Chinese automaker’s plans to acquire General Motors’ Opel brand have been seen by several media outlets. Reuters and the Wall Street Journal reported today that Beijing Automotive’s (BAIC) non-binding offer last week would use the Opel brand to sell nearly half a million cars in China and become a major player in China by 2015, according to Reuters. It also proposes a plant closure in Germany. BAIC would have a 51 percent stake and GM would have a 49 percent stake in the new company.