Chinese automakers Great Wall Motor and Changan Automobile are accelerating plans to build cars in India after the initial success of rival SAIC Motor in one of the world's biggest markets, three sources said.
Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month.
Australia's competition regulator said the federal court has penalized Volkswagen AG a record A$125 million ($86 million) for allegedly making false representations about compliance with the country's diesel emission standards.
The new North American trade deal addresses most concerns of U.S. labor unions, Richard Trumka, head of the AFL-CIO union federation, said on Thursday, but even so he expects it could take more than a decade to reverse job losses resulting from the original 25-year-old trade pact.
The general counsel of a U.S. labor agency has accused Chipotle Mexican Grill Inc of violating U.S. labor law by allegedly firing an employee in New York in retaliation for complaining about workplace problems and trying to organize with a union.
The head of Australia's competition regulator on Friday said a record fine of A$125 million ($86 million) imposed on Volkswagen AG was just a taste of what companies could expect in the future.
The U.S. House of Representatives overwhelmingly approved a new North American trade deal on Thursday that includes tougher labor and automotive content rules but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged.
Oil prices held steady near three-month highs on Friday, heading for a third consecutive weekly rise, on the back of easing Sino-U.S. trade tensions that have weighed on demand as well as the global economic growth outlook.
Australia's second-largest lender Westpac Banking Corp on Friday appointed two people to a panel which will assess the bank's accountability in a money laundering scandal.
Volkswagen AG took two raps in Australia on Friday as a federal court upheld a fine on the German car maker as part of a global diesel emissions cheating scandal and a regulator started penalty proceedings against one of its financial units.
Asian shares pulled back from a one-and-a-half year peak on Thursday as investors took some money off the table ahead of holiday trade and looked to fresh data on the state of the global economy.
China's finance ministry published on Thursday a new list of six products from the United States that will be exempt from tariffs starting Dec. 26.
Top Indian electricity generator NTPC has rejected the emissions-cutting technology of GE and other foreign firms for its coal-fired plants, documents show, shutting them out of an estimated $2 billion in orders.
Oil prices remained atop three-month peaks on Thursday, extending a robust streak that began a week ago, as thawing trade relations between the United States and China supported global markets.
Philippines' Cebu Air Inc said on Thursday it had ordered 15 Airbus SE A320neo family jets worth $2 billion at list prices, keeping the European manufacturer on track to reach a year-end sales milestone.