News Wire

Mediclinic flags drop in H1 core profit, shares dive 19 percent

11h57 Mediclinic on Wednesday flagged an 8 percent drop in core profit for the first six months of the year, sending its shares tumbling 19 percent.  Full story

Mexico's next government faces bind in Pemex ethane deal

14h01 Mexico's incoming government will soon inherit a costly dilemma over an ethane supply contract between national oil company Pemex and a consortium led by a unit of Brazilian builder Odebrecht.. . .  Full story

South Africa's retail sales jump as spending on consumer goods rises

13h36 South Africa's retail sales rose in August as household goods, clothing and cosmetics grew, data showed on Wednesday, with recovering consumer spending a sign the economy is climbing out of a recession that has. . .  Full story

China Sept new loans rebound on policy easing, more steps seen

13h33 China's new bank loans rebounded in September after dipping in the two previous months, central bank data showed, but overall credit conditions stayed tight in an economy chilled by an ongoing tariff war with. . .  Full story

China's premier sees 'increasing pressure' on the economy amid trade risks

13h33 China's economy faces increasing downward pressure, and the government will take targeted measures to prevent large fluctuations in growth, Premier Li Keqiang said while on a trip to Europe.. . .  Full story

Dollar extends gains before Fed minutes; pound tanks

13h32 The dollar rose for a second consecutive day on Wednesday as firmer stock markets fuelled demand for the greenback, though the release of U.S. Federal Reserve minutes later in the day kept gains in. . .  Full story

Russian high tech project flounders after U.S. sanctions

13h30 U.S. sanctions targeting Russia's nascent high tech industry have caused a Russian microchip company significant financial woes and delayed the launch of an initiative meant to produce substitutes for Western products, the firm's owner said.. . .  Full story

IT firm Softcat says growth won't match 'exceptional' 2018, shares fall

13h27 Shares in Softcat fell 10 percent on Wednesday after the British IT company said growth this fiscal year would not match levels seen in the year to the end of July, when its revenue. . .  Full story

EDF says protests could hit French coal power plants until 2019

13h24 French utility EDF said on Wednesday that protests could hit its coal power plants in France until the end of June 2019, due to the legislative process that would lead to the adoption of. . .  Full story

U.S. Bancorp profit beats on higher interest income, loan growth

13h23 Regional lender U.S. Bancorp reported a better-than-expected quarterly profit on Wednesday, helped by higher interest income and loan growth.. . .  Full story

Regulator rejects Danske Bank's choice for chief executive

13h22 Danske Bank, reeling from a money laundering scandal, suffered another setback on Wednesday when the Danish financial regulator rejected its candidate for chief executive on the grounds that he lacked sufficient experience.. . .  Full story

Greece's NBG ends talks with Gongbao over insurance unit sale

13h15 Greece's National Bank (NBG) said on Wednesday it had ended talks with Shanghai-based Gongbao Group on the potential sale of a majority stake in its wholly-owned insurance subsidiary.. . .  Full story

Japan's Daido Life plans to raise foreign corporate bond holdings

13h13 Japan's Daido Life Insurance plans to increase its holdings of stocks and foreign corporate bonds in the second half of its financial year to March, a senior company executive said on Wednesday.. . .  Full story

Wall Street dip a welcome tightening of U.S. financial conditions: McGeever

13h11 It sounds counterintuitive, but the recent slide on Wall Street will be met with some relief at the Fed as long as it remains a 'correction' and doesn't morph into a panic-fueled rout.. . .  Full story

-Hard Brexit could ground UK flights for three weeks -Ryanair CEO

13h10 A hard Brexit could ground UK flights for up to three weeks but would be survivable for Ryanair, the Irish budget airline's CEO Michael O'Leary said ahead of a meeting of European Union leaders. . .  Full story

Gold rises as technical momentum builds despite stronger dollar

13h09 Gold rose on Wednesday, rebounding from a key support level with technical momentum proving more influential than a stronger dollar and rallying stock markets.. . .  Full story

Netflix shares jump after record subscriber growth

12h58 Shares of Netflix Inc soared 11 percent before the bell on Wednesday after the company put fears of a slowdown in growth to bed by racking up 7 million new subscribers between July and. . .  Full story

Kuwait sets Oct-Nov prices for new super light crude -source

12h53 Kuwait Petroleum Corp set the price for Kuwait Super Light Crude (KSLC) at $2.30 a barrel above Oman-Dubai quotes for October and at a premium of $3.05 a barrel for November, a source with. . .  Full story

Copper rises on Chinese data, aluminium falls on stock inflow

12h52 Better-than-forecast Chinese lending data which signalled solid economic growth helped to lift copper prices on Wednesday, but gains were limited by signs that a supply squeeze in China was receding.. . .  Full story

Indonesia targets closure of Freeport deal in December -official

12h46 Indonesia's state-owned miner Inalum is looking to finalise a $3.85 deal for majority control of the local unit of global mining giant Freeport McMoRan Inc in December, a company official said on Wednesday.. . .  Full story

China says safeguard measures on sugar imports in line with WTO rules

12h40 China's commerce ministry said on Wednesday its safeguard measures on sugar imports are in line with World Trade Organisation rules, in response to Brazil's opening of a consultation process at the trade body over Beijing's. . .  Full story

Britain looking at four options for carbon pricing after Brexit –govt official

12h38 Britain is looking at four options for carbon pricing once it leaves the European Union, including launching its own emissions trading system, a government official said on Wednesday.. . .  Full story

Auto parts suppliers warn hard Brexit may set UK sector back 25 years

12h26 Failure to secure a trade deal for Britain when it exits the European Union next year could set the UK auto sector back two decades, leading parts suppliers said on Wednesday as they urged. . .  Full story

Tesla secures Shanghai site for $2 bln China Gigafactory

12h24 Tesla Inc has signed an agreement with the Shanghai government for an 860,000 square metre plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post. . .  Full story

Vietnam may recall re-export order of wheat containing thistle seed -govt

12h16 Vietnam could recall an order that goes into effect on Nov. 1 that requires companies to re-export wheat cargoes containing cirsium arvense seeds, known as Canada thistle, the government said on Wednesday.. . .  Full story

Weaker China demand, regulation spell tough quarter for Europe's auto stocks - GS

12h15 Goldman Sachs analysts said slowing car demand in China and new fuel consumption regulations were hurting investors' sentiment towards European autos stocks and warned this results season could be challenging, hitting shares in the sector. . .  Full story

Zloty leads currencies' retreat, equities lose momentum

12h06 Central European currencies gave up some of their recent gains on Wednesday while government bonds firmed slightly as an equities rebound driven by global trends also lost some steam. Regional stock. . .  Full story

SE Asia Stocks-Rise with Wall St tide; Philippines extends gains

12h05 Most Southeast Asian stock markets closed sharply higher on Wednesday, as strong overnight gains on Wall Street boosted Asian equities across the board. U.S. stocks surged more than 2 percent. . .  Full story

Egypt plans to issue international sovereign sukuk in 2019-2020

11h58 Egypt plans to issue its first international sovereign sukuk, or Islamic bonds, in the 2019-2020 financial year, Finance Minister Mohamed Maait told Reuters on Wednesday.. . .  Full story

Oil steadies after surprise draw in U.S. crude stocks

11h57 Oil prices steadied after three days of gains on Wednesday after industry data showed a surprise decline in U.S. crude inventories and tension over the disappearance of a prominent Saudi journalist stoked supply worries.. . .  Full story

Industry group plans blockchain tool to track firms' sustainability commitments

11h52 A responsible investment non-profit organisation said on Wednesday it aims to develop a blockchain tool to track companies' sustainable commitments, to help identify those not keeping up with their ethical credentials.. . .  Full story

BHP Billiton says it has seen no material impact from trade tensions

11h47 BHP Billiton has not seen a material impact from current global trade tensions on its business but remains cautious in the near term, the world's biggest miner said on Wednesday.. . .  Full story

ASOS shares bounce back as firm eyes 'huge' prize

11h42 The potential for British online fashion retailer ASOS is "huge" as the shift to internet shopping accelerates, the company said on Wednesday, sending its shares soaring as it beat profit forecasts and flagged years of. . .  Full story

Denmark state prosecutor says receives report on Nordea

11h41 Denmark's state prosecutor said on Wednesday it had received a report concerning Nordic bank Nordea and will now evaluate its contents.. . .  Full story

Flybe sinks on profit warning from weaker demand, rising fuel

11h39 Flybe issued a profit warning on Wednesday citing weakening demand, higher fuel costs and a weaker British pound, sending shares in the British regional airline lower.. . .  Full story

Danske Bank ditches CEO candidate after regulator rejection

11h36 Danske Bank, reeling from a money laundering scandal, suffered another setback on Wednesday when the Danish financial regulator rejected its candidate for chief executive on the grounds that he lacked sufficient experience.. . .  Full story

Grub infestation may be the fix to India's sugar problem its farmers do not want

11h34 India may have found a fix to its sugar problem but the answer will not make its cane farmers happy.. . .  Full story

Akzo Nobel withstands rising raw material costs to improve profit

11h33 Dutch paints and coatings maker Akzo Nobel improved its third quarter operating profit by some 8 percent despite the impact from raw material inflation, which it said on Wednesday had peaked.. . .  Full story

Relief for UK consumers as inflation drops more than expected

11h30 British inflation fell more than expected in September to a three-month low, offering some relief to consumers who have been squeezed financially since the Brexit vote. Consumer prices rose at an. . .  Full story

Sterling eases after inflation falls more than forecast

11h25 The British pound weakened on Wednesday after inflation fell more than expected in September, easing a squeeze on consumers, who are also seeing the strongest wage growth for workers in a decade according to. . .  Full story

FTSE 100 rises, led by Pearson; Mediclinic sinks as earnings sag

11h24 Britain's top stock index climbed on Wednesday, with Pearson's outlook impressing the market, while mid-cap Mediclinic sank by a fifth after its results missed estimates.. . .  Full story

Crest Nicholson plunges on profit warning, finance chief leaves

11h20 British housebuilder Crest Nicholson cut full-year profit expectations on Wednesday, blaming a weakening property market in London and southern England, and said its finance chief was leaving, sending its shares sharply lower.. . .  Full story

Iran calls U.S. efforts to cut its oil exports to zero 'political bluff'

11h13 Statements by the United States that it would reduce Iran's oil exports to zero are a "political bluff", the head of state-run National Iranian Oil Company (NIOC) said, according to a report published by. . .  Full story

U.S. earnings brighten mood for emerging stocks, FX subdued

11h11 Emerging market stocks hit one-week highs on Wednesday as a strong start to the U.S. corporate earnings season encouraged investors globally to take on more risk after a sell-off last week.. . .  Full story

Philippine watchdog fines Grab, Uber for rushed merger, drop in service quality

11h09 The Philippines' competition watchdog fined ride-hailing firms Grab and Uber Technologies on Wednesday, saying they consummated their merger too soon and that the quality of service dipped, becoming the second regulator in the region to. . .  Full story

World stocks extend rise after blockbuster U.S. earnings

11h01 Forecast-beating U.S. company earnings improved the mood on world equity markets on Wednesday, as Asian and European shares put aside concerns on global growth and trade and took their cue from Wall Street's best. . .  Full story

Spain to block Berkeley uranium mine project - sources

10h59 The Spanish government has decided not to deliver the permits necessary to open the European Union's only open-cast uranium mine near Salamanca, dealing a serious blow to Australian mining company Berkeley Energia's plans.. . .  Full story

ASML's bullish outlook pulls computer chip stocks higher

10h41 Semiconductor industry bellwether ASML Holding NV's better-than-expected third quarter results and bullish outlook gave sector stocks a boost on Wednesday after fears of slackening demand had dragged them down in recent months.. . .  Full story

UK's ContourGlobal in talks to buy Iberdrola's solar power plant

10h39 Power generator ContourGlobal Plc said on Wednesday it was in talks with Spanish utility Iberdrola SA over a potential deal to buy the Milan-listed company's 50-megawatt solar power plant in Spain.. . .  Full story

Danone quarterly sales growth slows on weak China, Morocco boycott

10h29 Slacker demand for baby food in China and a consumer boycott in Morocco slowed third-quarter sales growth at Danone, although the French food group said it was sticking to its earnings growth targets.. . .  Full story

Fresenius Medical cuts 2018 targets, sending shares tumbling

10h24 Shares in Germany's Fresenius Medical Care were poised to mark their biggest ever one-day drop after the group cut its earnings target for the year, citing slower growth in dialysis services in North America, its. . .  Full story

China Jan-Sept non-financial outbound direct investment up 5.1 pct y/y

10h21 China's non-financial outbound direct investment (ODI) in January-September rose 5.1 percent from a year earlier to $82.02 billion, the commerce ministry said on Wednesday.. . .  Full story

China outstanding social financing up 10.6 pct y/y at end-Sept

10h19 China's outstanding total social financing was 197.3 trillion yuan ($28.50 trillion) at the end of September, up 10.6 percent from a year earlier, the central bank said on Wednesday.. . .  Full story

Virtual schools keep Pearson on course for return to profit growth

10h16 Demand for online courses and virtual schools helped British education publisher Pearson to overcome weaker textbook sales in the United States and remain on track for a return to profit growth in 2018.. . .  Full story

China total social financing rises to 2.21 trln yuan in September

10h16 China's total social financing (TSF), a broad measure of credit and liquidity in the economy, rose to 2.21 trillion yuan ($319.08 billion) in September from 1.52 trillion yuan in August, data from the central. . .  Full story

Fintech making inroads, but U.S. bank revenues little changed -report

10h00 Financial technology startups and other new entrants are making inroads in the U.S. banking market, but have yet to capture a threatening share of bank revenues, according to research published by Accenture Plc on Wednesday.. . .  Full story

Beset by copies, Roche gets sales boost from China

09h56 Roche's third-quarter revenue beat analysts' forecasts as new drugs such as Ocrevus for multiple sclerosis picked up pace and as China bought more of older medicines whose sales are dropping elsewhere following patent expiries.. . .  Full story

German BGA trade body lowers 2018 forecast for export growth

09h42 Germany's BGA trade association has lowered its forecast for export growth this year to 3.5 percent from 5 percent previously, citing weaker demand from abroad in light of rising trade tensions and Britain's departure from. . .  Full story

Turkmenistan opens $3.4 bln chemicals plant

09h25 Turkmenistan opened a $3.4 billion chemicals plant on Wednesday built by Japan's TOYO Engineering and South Korea's LG International and Hyundai Engineering, in a bid to diversify an economy dependent on gas exports.. . .  Full story

Cambodia's garment workers fear EU trade threat but producers optimistic

09h21 A European Union decision to ramp up trade pressure on Cambodia has alarmed unions in its garment industry, a pillar of the economy that employs about 700,000 people, but a key grouping of manufacturers. . .  Full story

Don't mention the oil price: US legal threat prompts change at OPEC

09h21 OPEC has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of U.S. legal action for. . .  Full story

JGBs steady to slightly firmer after BOJ operations see limited selling interest

09h19 Japanese government bond prices were steady to slightly firmer on Wednesday, after the Bank of Japan's bond purchase showed limited selling interest and supported market sentiment.. . .  Full story

Rathbone boosted by Speirs & Jeffrey, organic growth stagnant

09h18 Rathbone Brothers' benefitted from its purchase of Scottish peer Speirs & Jeffrey in the third quarter but results on Wednesday showed growth elsewhere in the London-based investment manager's business stagnating.. . .  Full story

China stocks end higher led by infrastructure and utilities

09h16 China stocks managed closed firmer on Wednesday, aided by gains in shares of infrastructure and utilities firms. ** The blue-chip CSI300 index ended 0.6 percent higher at 3,118.25 points while the Shanghai Composite Index also gained. . .  Full story

S.Korean stocks track Wall Street; won gains ahead of BOK meet

09h04 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index ended higher on Wednesday tracking Wall Street as upbeat U.S. earnings boosted investor sentiment. The won edged higher while bond yields fell.. . .  Full story

Brexit deal not far away - French finance minister

09h01 A Brexit deal is not far away and could be reached in the coming weeks, said French finance minister Bruno Le Maire on Wednesday.. . .  Full story

London travellers face disruption as Heathrow rail line suspended

08h58 Rail travellers in and out of London faced disruption on Wednesday after damage to overhead power lines stopped trains running between the British capital and Heathrow Airport and destinations in the west of the country.. . .  Full story

China's state planner approves $5.3 bln railway project

08h57 China's state planner said on Wednesday it has approved a high-speed railway project worth 36.8 billion yuan ($5.3 billion) in eastern China.. . .  Full story

India's H-Energy says to delay start of LNG terminal until 2019

08h40 India's H-Energy on Wednesday said it expected to delay the start-up of a liquefied natural gas (LNG) terminal in the west of the country until the first quarter of next year.. . .  Full story

Trump administration says to open trade talks with EU, UK, Japan

08h35 The U.S. Trade Representative's office told Congress on Tuesday it intends to open trade talks with the European Union, the United Kingdom and Japan.. . .  Full story

Longer Brexit transition period would not hurt Europe - Asselborn

08h20 It would not hurt Europe if Britain was allowed to remain in the European Union customs union and internal market beyond an agreed transitional arrangement, Luxembourg Foreign Minister Jean Asselborn said.. . .  Full story

Nikkei touches near 1-week peak as U.S. gains lift tech shares

08h20 Japan's Nikkei share average rose on Wednesday, continuing its recovery from last week's sharp downturn with a turnaround by Wall Street peers lifting technology stocks.. . .  Full story

Italian state lender CDP not involved in any Astaldi rescue deal-source

08h08 Italy's Cassa Depositi e Prestiti (CDP) is not planning to play a role in a possible deal to rescue Italian builder Astaldi, a source close to the state lender said.. . .  Full story

VW, FCA and Renault lead emissions-driven European sales slump

08h00 Volkswagen Group, Fiat Chrysler and Renault led a 23.4 percent European car sales decline in September, the main regional industry body said on Wednesday, as automakers continued to suffer from the introduction of tougher new. . .  Full story

Malaysia's biodiesel output, exports set to hit records -industry body

07h55 Malaysian biodiesel production is likely to hit record levels this year and next, with 2018 exports on track to double from 2017, pushed up as higher oil prices boost the appeal of biofuels, the. . .  Full story

Australian shares track Wall Streets gains, but miners falter; NZ up

07h52 Australian shares climbed on Wednesday, adding to gains from the previous session, as upbeat Wall Street earnings buoyed investor sentiment, with financial stocks the biggest drivers.. . .  Full story

Most Asian units firmer; S.Korean won extends gains before BoK meets

07h51 Most Asian currencies strengthened on Wednesday as an uptick in U.S. stocks and a decline in U.S. yields reduced investors' aversion to riskier assets. The South Korean won consolidated early. . .  Full story

Prospects for Swiss-EU treaty dim as talks yield no breakthrough

07h49 Prospects for a new treaty cementing ties between Switzerland and the European Union, its biggest trading partner, appeared to fade on Wednesday as four years of negotiations failed to produce a breakthrough by the EU's. . .  Full story

China won't allow gambling or horse-racing in Hainan - paper

07h45 China will not allow gambling or horse-racing in the southern province of Hainan, a newspaper controlled by the provincial government reported on Wednesday, citing comments from Hainan's communist party chief.. . .  Full story

China's yuan edges down; investors bet on further weakness

06h52 China's yuan weakened on Wednesday, shrugging off a stronger midpoint fixing from the country's central bank, as the dollar steadied from overnight losses and as market indicators backed investor views of continued yuan weakness over. . .  Full story

China's Zhoushan city woos Exxon Mobil for a $7 bln ethylene plant

06h43 The Chinese city of Zhoushan is in talks with oil major Exxon Mobil Corp to build a $7 billion ethylene plant in the city south of Shanghai, it said in a statement released on. . .  Full story

Australia's finance regulator says bosses personally accountable for bank behaviour

06h37 Australia's financial regulator said on Wednesday top banking executives will be held to a higher standard of personal accountability under new rules introduced, as the scandal-hit sector comes under intense scrutiny.. . .  Full story

Physical crude market seems more relaxed than paper over Saudi tensions: Russell

06h16 The crude oil price appears firmly in the hands of geopolitical concerns, with veiled Saudi threats over the disappearance of a journalist and the ramping up of U.S. sanctions against Iran getting most of the. . .  Full story

China stocks little changed; healthcare firms offset infrastructure gains

06h05 China stocks were little changed on Wednesday, with gains in infrastructure and utilities firms offset by losses in consumer and healthcare companies. ** The CSI300 index was unchanged at 3,101.53 points at the end of. . .  Full story

U.S. oil service firms face tough quarter despite high crude prices

06h01 Even as crude prices hover near four-year highs, U.S. oilfield service firms' third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints and pressure to hold down. . .  Full story

SoftBank 'anxiously' monitoring Saudi Arabia situation -executive

05h46 SoftBank Group Chief Operating Officer Marcelo Claure said on Tuesday it is "business at usual" at companies backed by its nearly $100 billion Vision Fund despite a tense situation with Saudi Arabia, which provided nearly. . .  Full story

Soybeans ease as dry weather seen boosting U.S. harvest

05h23 Chicago soybean futures slid for a second session on Wednesday as a bumper U.S. crop harvest is expected to gather pace after forecasts of dry weather in parts of the U.S. Midwest.. . .  Full story

Nikkei hits 6-day high as tech shares track U.S. gains

04h37 Japan's Nikkei share average hit a six-day high on Wednesday, continuing its recovery from last week's sharp downturn with technology stocks supported by a turnaround in their Wall Street peers.. . .  Full story

Australia, NZ dlrs find some support as stocks rally

04h35 The Australian and New Zealand dollars held their ground on Wednesday as a rebound in global equities pointed to some improvement in risk appetite after a rough couple of weeks.. . .  Full story

S.Korea stocks jump tracking Wall Street; won climbs

04h06 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index added more than 1 percent on Wednesday, tracking overnight gains in Wall Street which surged. . .  Full story

Insurers call for delay in prising open "black box" accounts

04h00 Insurers from across the world have called for amendments and a two-year delay to a change in accounting rules aimed at increasing visibility of how they earn their money.. . .  Full story

Aussie shares rally the most in 3 months on Wall St cheer; NZ rises

03h37 Australian shares rose the most in over three months, spurred by a Wall Street rally thanks to upbeat U.S. corporate earnings led by Netflix Inc in after-hours trade and robust economic data.. . .  Full story

Despite Beijing's line, investors gun for yuan at 7 to the dollar

03h09 Investors are betting that the powerful forces of easier monetary policy at home and unrelenting gains in the U.S. dollar will push China's yuan down, even as Beijing categorically insists that it isn't pursuing currency. . .  Full story

COLUMN-Copper smelter hits cause physical squeeze in Asia: Andy Home

03h00 The copper market is currently experiencing a squeeze on physical metal.. . .  Full story

COLUMN-Saudi Arabia's oil weapon doesn't work: Kemp

03h00 Saudi Arabia is unlikely to employ its so-called "oil weapon" in the diplomatic crisis over the disappearance of a journalist after visiting the country’s consulate in Istanbul.. . .  Full story

Scholar says claims of China currency manipulation "total rubbish" - paper

02h36 Claims that China is trying to devalue the yuan to boost exports are "total rubbish", a former advisor to China's central bank was quoted as saying by the official English-language China Daily newspaper on. . .  Full story

Singapore Sept exports up 8.3 pct y/y

02h36 Singapore's on-year non-oil domestic exports (NODX) growth accelerated in September thanks to a surge in pharmaceutical shipments, official data showed on Wednesday.. . .  Full story

Liam Fox says UK needs longer transition period to make free-trade deal with EU- the Times

02h06 British trade minister Liam Fox said the UK will need a longer transition period to make a free-trade deal with the European Union, The Times newspaper reported on Wednesday.. . .  Full story

EU leaders prepare hardball Brexit summit choice for May

02h01 European Union leaders will give British Prime Minister Theresa May a tough reception in Brussels on Wednesday, warning her to rally support at home for the Brexit deal on offer or be cut loose. . .  Full story

Trump administration touts effort to undo regulations

02h00 The Trump administration said late on Tuesday it has withdrawn or delayed more than 2,200 regulatory actions since taking office in January 2017 as it vows to reduce the role of government.. . .  Full story

Argentina chips away at debt with high-interest Lebac sale

01h56 Argentina's central bank issued a fresh batch of publicly-traded, short-term notes on Tuesday in an bid to chip away at its year-end repayment obligations, which have contributed to concerns over the country's ability to service. . .  Full story

Chinese electric car makers, nurtured by state, now look for way out of glut

01h30 Humming away in an industrial estate in the eastern Chinese resort city of Hangzhou, electric vehicle designer Automagic is one of hundreds of companies looking to ride the country's wave of investment in clean transportation.. . .  Full story