Tag Archives: billion

SAIC VW starts work on $2.5 billion China plant in Audi pivot

BEIJING (Reuters) – Volkswagen AG’s (VOWG_p.DE) China venture with SAIC Motor Corp Ltd (600104.SS) has started building a $2.5 billion new energy vehicle (NEV) plant in Shanghai, which will make VW’s luxury Audi AG (NSUG.DE) brand cars, a possible first for the venture. FILE PHOTO: The logo of Shanghai Volkswagen, a joint venture between SAIC Motor and Volkswagen Group, is ...

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AIG sees third-quarter catastrophe losses of $1.5 billion-$1.7 billion

(Reuters) – Insurer American International Group Inc (AIG.N) said on Thursday it expects third-quarter pre-tax catastrophe losses, net of reinsurance, of between $1.5 billion and $1.7 billion. Brian Duperreault, President and Chief Executive Officer (CEO) of American International Group (AIG) speaks at the UJA-Federation of New York General Insurance Annual Event in New York City, New York, U.S., June 5, ...

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Tesla secures Shanghai site for $2 billion China Gigafactory

BEIJING (Reuters) – Tesla Inc has signed an agreement with the Shanghai government for an 860,000 square meter plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post on Wednesday. The land agreement marks a key step toward the firm and its Chief Executive Elon Musk making cars locally in China ...

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Takeda gets Japanese approval for $62 billion Shire purchase

(Reuters) – Takeda Pharmaceutical Co Ltd (4502.T) said on Thursday Japan’s Fair Trade Commission had approved its $62 billion acquisition of Shire Plc (SHP.L), bringing the Japanese firm closer to sealing a deal that will make it a global top 10 drugmaker. FILE PHOTO: Takeda Pharmaceutical Co’s logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. ...

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Nigeria’s Senate to probe alleged $3.5 billion NNPC fuel subsidy fund

ABUJA (Reuters) – Nigeria’s upper house of parliament plans to investigate an alleged $3.5 billion fuel subsidy fund at state-oil firm NNPC, lawmakers said on Tuesday. FILE PHOTO: The Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja, Nigeria December 5, 2017. REUTERS/Afolabi Sotunde/File Photo The Senate alleges NNPC used the fund to subside the price of imported petrol ...

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Uber IPO proposals value company at $120 billion – WSJ

(Reuters) – Ride-hailing giant Uber Technologies Inc [UBER.UL] could be valued at $120 billion, when it finally goes public next year according to proposals made by U.S. banks bidding to run the offering, the Wall Street Journal reported on Tuesday. FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo The ...

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Uber proposals value company at $120 billion in a possible IPO – WSJ

(Reuters) – Uber Technologies Inc [UBER.UL] could be valued at $120 billion when it finally goes public next year according to recent proposals made by U.S. banks, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo The ...

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