3 Min Read
BRUSSELS (Reuters) -Daimler’s Spanish unit can be liable for damages sought by companies affected by the German carmaker’s role in a truck cartel fined by EU antitrust regulators five years ago, an adviser to Europe’s top court said on Thursday.
FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo
Should the court follow the non-binding opinion in the coming months, it could pave the way for companies to sue subsidiaries of other cartel members and other illegal price-fixing groups.
The European Commission in 2016 handed out a then record 2.9 billion euro fine to the cartel which included Daimler, Swedish company Volvo, Iveco, which is part of Italian truck and tractor maker CNH Industrial, and DAF Trucks, owned by U.S. company Paccar.
South Korea's Hyundai Motor Group said on Thursday it plans to launch electric vehicles (EVs) in China every year starting 2022 to enhance its presence in the world's biggest car market.
By Reuters Staff
2 Min Read
(Reuters) - TuSimple Holdings Inc said on Thursday it had raised more than $1 billion through an initial public offering (IPO), valuing the self-driving truck startup at nearly $8.5 billion.
The San Diego, California-based company sold around 27 million shares in its IPO, while some stockholders sold about 6.8 million shares priced at $40 apiece.
Backed by Volkswagen’s commercial trucking unit, TRATON SE, and United Parcel Service Inc, TuSimple is developing self-driving trucks with Navistar International Corp whose production is slated to start in 2024.
The company is the latest player in the self-driving technology and manufacturing market to take the public market route after a string of lidar sensor manufacturers, including Luminar Technologies Inc and Velodyne Lidar Inc, went public through mergers with blank-check firms last year.
Nissan Motor Co will slash production at severalfactories in Japan next month, three sources with direct knowledge of the plan told Reuters on Thursday, in the latest hit to an automaker from a global shortage of semiconductors. Japan's third-largest automaker will idle.
4 Min Read
LONDON, April 14 (Reuters) - With 100 days to go until the Tokyo Olympics, British taekwondo athlete Lutalo Muhammad is determined to make every second count.
That has become his mantra since the 2016 Rio de Janeiro Games when he had gold in his grasp only to lose it after taking a devastating kick to the head in the final second while leading.
As Cheick Sallah Cisse sprinted off the mat in joyous celebration at Ivory Coast’s first ever gold, a stunned and disbelieving Muhammad was left sobbing in the arms of his father.
The 29-year-old Briton, who has moved up a weight division from his previous -80kg but whose ticket to Tokyo has yet to be confirmed, will not be making that mistake again.