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KUALA LUMPUR: DRB-Hicom Bhd posted net losses of RM169.30mil in the first quarter ended June 30, 2016 weighed down by losses from its car manufacturing operations under Proton.
Ride service Uber Technologies Inc said it acquired self-driving trucks startup Otto and formed an alliance with Volvo Car Group to develop self-driving cars.
KUALA LUMPUR: PublicInvest Research is maintaining its Outperform call on DRB-Hicom with an unchanged sum-of-parts target price of RM1.26.
FRANKFURT/DETROIT: General Motors (GM) said it was considering cost cuts in Europe to offset up to US$400mil (RM1.62bil) of potential headwinds triggered by Britain’s Brexit vote, calling into question the carmaker’s ability to return Opel and Vauxhall to a full-year profit.
THE uncertainty in both the local and global economy, which has directly affected consumer sentiment, has seen local car companies gearing up for tough times ahead.
In 2015, Volkswagen sold more of its sausages than cars. Its Wolfsburg plant in Germany produces 30,000 currywurst a day from a recipe dating back to 1973.
Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but warned that spending will ramp up in tandem.
KWAZAKHELE, South Africa (Reuters) - Unemployed South African labourer Xolisa Sacu has given up waiting for the housing, services and jobs that the African National Congress has been promising his rubbish-strewn township since the end of apartheid 22 years ago.
THE usually mundane US-Asean summit was given a new twist yesterday when the CEOs of three tech giants gave a presentation on the digital economy to the 10 Asean leaders and their host President Barack Obama.