For Seoul residents, South Korea’s decision to keep four nuclear reactors offline because of faked safety reports means power shortages, and a summer of sweltering homes and offices. Lee Jin Gon has bigger concerns.
Beijing Automotive Group Co., a partner of Daimler AG and Hyundai Motor Co., agreed to buy a smaller Chinese automaker as part of a 15 billion yuan ($2.5 billion) deal to produce vehicles in eastern China.
Honda Motor Co.’s Civic won the top grade in a new crash test of small cars while Nissan Motor Co.’s Sentra and two Kia Motors Corp. models received “poor” ratings, according to an insurance industry group.
Stocks declined amid corporate earnings that disappointed investors and growing concern the Federal Reserve may reduce its bond purchases, while oil capped the biggest four-day slide in nine months. The pound gained after the Bank of England raised its growth forecast.
Emerging-market stocks retreated to the lowest level in about a month after results from companies including Tata Motors Ltd. and AngloGold Ashanti Ltd. missed analysts’ estimates. Brazil’s real sank to a four-year low.
Asian stocks fell, with the regional benchmark index posting its biggest drop since June 20, as Japanese shares led declines across the region after the yen gained for a fourth day and metals prices slid.
Hyundai Motor Co., South Korea’s biggest carmaker, and affiliate Kia Motors Corp. fell in Seoul trading after labor union negotiators walked out of wage talks and threatened to ask workers to vote on a strike.
Honda Motor Co. and Toyota Motor Corp. led U.S. volume gains in July for Asia-based automakers as they battled for mid-size sedan sales leadership amid intense competition from Ford Motor Co. and Nissan Motor Co.