GM to battle VW in China with $12 billion investment and new plants

BEIJING - U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it competes with aggressive rivals in the world's largest auto market.

Recent Business News

BrazilĀ“s president also responsible for refinery deal: ex CEO

BRASILIA - BrazilĀ“s President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday.

2:22pm EDT

Premium car brands eye China's secondhand market

BEIJING - Strong demand for new automobiles in China has laid the foundations for the next leg of business for carmakers BMW , Audi and Mercedes-Benz: the second-hand premium car market.

5:42am EDT

South Africa's 'spaza' shops suffer as big retail rolls in

SOWETO, South Africa - In this corner of South Africa's black township of Soweto, the biggest building used to be the Catholic church. Now it's been overshadowed by a shopping center and business has only gotten worse for Grace, a 68-year-old shopowner.

5:04am EDT

Mercedes, BMW chase ultra rich clients with new high end cars

BEIJING - Premium auto maker BMW unveiled a luxury concept sedan in Beijing on Sunday, to gauge customer appetite for a car that would cost more than German manufacturer's current flagship 7 series limousine.

11:50am EDT


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