Mitsubishi Motors Corp said on Friday it is aiming to boost its sales by 44 percent this year in the booming China market, with a target to more than double sales there in 2015 from last year's levels.
Honda and Volvo are both planning to launch clean-energy cars in China, joining a growing crowd of domestic players developing such models to take advantage of expected generous government incentives.
Chinese car makers may have the world's largest market to play in but face many hurdles including a shortage of original models, an overcrowded industry and a lack of overseas acquisition targets before they can challenge for global leadership.
World finance leaders gather in Washington on Friday hoping to plot a course beyond the financial crisis, but Greece's worsening debt woes served as a stark reminder the global economy remains vulnerable.
Shares in mobile telecom gear maker Ericsson rose sharply on Friday, defying weak first-quarter results, as investors took heart from falling costs and prospects for a recovery.
World finance leaders gather in Washington on Friday hoping to plot a course beyond the financial crisis but Greece's worsening debt woes served as a stark reminder the global economy remains vulnerable.
China's auto market, which overtook the United States as the world's largest last year thanks to a raft of policy incentives, has been a major bright spot amid a global industry downturn.
China may scrap tax incentives for small cars next year if the market remains strong, and is rethinking plans to provide similar incentives for green-energy vehicles due to quality issues, a government researcher said.
The IMF sought to maintain unity within the Group of 20 economic powers on Thursday, urging countries not to go separate ways in reforming the financial sector, as frictions emerged over a controversial plan to tax banks.
China's Beijing Automotive Industry Holding Co (BAIC) said on Thursday it is building a plant to make vehicles using technology it acquired from GM's [GM.UL] Saab unit late last year.
China's Jianghuai Automobile Group (600418.SS) has made progress in joint-venture talks with Caterpillar (CAT.N) and Navistar International Corp (NAV.N) and sees such a tie-up as key to its strategy to improve profitability and target export markets, an executive said.
Chinese auto sales are set to grow faster than expected this year, with some industry insiders now picking growth of 20 percent in the world's largest car market, raising talk Beijing will cut incentives to cool growth.
PepsiCo Inc posted disappointing results in its first quarterly report since buying its largest bottlers, as promotions by rival Coca-Cola Co hurt its sales and the deal's benefits have yet to kick in fully.
Bank of America Corp intends to put more global in its global wealth management division.
PepsiCo Inc posted a better-than-expected quarterly profit, but its revenue fell short of Wall Street expectations, hurt by ongoing weakness in its Americas beverage business.
Corrects last paragraph to show volume increase is in food business, not overall company
Wall Street was set to drop at the open on Thursday as Greece once again soured risk appetite with more news on its deteriorating financial position.
U.S. stock index futures fell on Thursday as Greece once again soured risk appetite with more news on its deteriorating financial position.
Hyundai Motor Co's strong performance in emerging economies and growing U.S. market share drove it to a record net profit in the first quarter and should cushion it from a stronger won and rising input costs.
Asian stocks fell on Thursday as several major U.S. firms issued disappointing outlooks, casting doubts on the strength of a global recovery, and as investors grew impatient for action on Greece's debt crisis, weighing on the euro.
China must tackle its property bubble for the sake of economic health and social stability, even if the market feels some short-term pain in the process, an official financial newspaper said on Thursday.
The U.S. Commerce Department on Wednesday delayed a decision on investigating whether China's currency practices are an illegal trade subsidy that justify imposing countervailing duties.
