Business

Australia’s top exporting state calls for reset in China ties

Australia’s biggest exporting state on Tuesday urged Canberra to stop antagonising China, the country’s top trade partner, in remarks that came amid escalating criticism of Beijing led by the United States, Australia’s main ally. “This isn’t about kowtowing to other countries and giving in,” Western Australian Premier Mark McGowan said at Australia’s biggest oil and […]

Business

GE, Safran venture to develop radical new jet engine

General Electric and France’s Safran has unveiled plans to test-build an open-bladed jet engine able to reduce fuel use and emissions by 20% as they prolonged their historic CFM International joint venture by a decade to 2050. The “RISE” engine, positioned as a possible successor to the “LEAP” model used on the Boeing 737 MAX […]

Business

Britain and Australia agree free trade deal

Britain and Australia announced a free trade deal on Tuesday which London said would eliminate tariffs on all British goods and boost jobs and businesses across the country. “Today marks a new dawn in the UK’s relationship with Australia, underpinned by our shared history and common values,” British Prime Minister Boris Johnson said in a […]

Business

Geely’s EV brand Zeekr sells out of deliverable cars for this year

Zeekr, a new premium electric vehicle (EV) brand launched this year by Geely (GEELY.UL), has sold out of deliveries for this year, Chief Executive An Conghui said on Tuesday. Geely, the owner of Volvo Cars, in April launched Zeekr to target growing Chinese demand for premium EVs that has boosted sales for Tesla Inc (TSLA.O) […]

Business

Japan’s trade minister unapologetic about ministry’s dealings with Toshiba

Japan’s trade minister said on Tuesday he was not planning to order up a probe into allegations made by an independent investigation that his ministry helped Toshiba Corp lean on foreign shareholders. Hiroshi Kajiyama, head of the Ministry for Economy, Trade and Industry (METI), also said it was normal for the government to deal with […]

Business

UK sees record jump in employee numbers in May

Tax data released on Tuesday showed that British companies increased their number of employees by 197,000 in May, the biggest single-month increase since records began in July 2014, taking the total to 28.5 million. Tuesday’s figures also showed the fastest headline wage growth since 2007 in the year to April, although statisticians warned that this […]

Business

JLR to begin testing prototype hydrogen Land Rover this year

Jaguar Land Rover will begin tests later this year on a hydrogen fuel-cell prototype model based on its Land Rover Defender vehicle as the carmaker looks to expand its zero-emission car options, the company said on Tuesday. JLR, owned by India’s Tata Motors (TAMO.NS), earlier this year said that its luxury Jaguar brand will be […]