Hyundai Motor Co News
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The won declined on speculation policy makers will favor depreciation to support South Korean exporters as the yen’s slide to a four-year low makes Japanese rivals more competitive.
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Each time An Fu Ford, a dealership in the western Chinese city of Chongqing, sells a car, workers fire a confetti cannon, showering the parking lot with colorful scraps of paper. There’s a lot of paper to sweep up these days.
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Spectris Plc plunged the most since at least 1989 after the U.K. maker of production-testing gear said a sluggish world economy prompted clients to defer orders.
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The won headed for a second weekly gain as tensions with North Korea eased after the U.S. agreed to coordinate with South Korea, China and Japan to draw the country into nuclear talks. Government bonds rose.
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European car sales are sliding to a 20-year low after German concerns over the debt crisis sent demand plunging last month in the region’s biggest economy and removed the main buffer protecting automakers.
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Mando Corp., South Korea’s third- largest maker of car parts, bought new shares of an affiliate, defying investor opposition and government calls for limiting cross shareholdings in family-controlled groups.
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South Korea’s biggest investors are buying more equities than ever at a time of worsening relations with North Korea, lured by the cheapest shares since 2007.
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Automakers are undermining the progress they’re making in expanding the market for electric cars and other zero-emission vehicles by petitioning against California’s mandates, a state regulator said today.
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South Korea unveiled a 17.3 trillion won ($15.4 billion) supplementary budget to support exporters pressured by a weaker Japanese currency and revive an economy that grew last year at the slowest pace since 2009.
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With U.S. auto sales percolating at the best pace since 2007, parts suppliers are riding high, too -- and none more so than BorgWarner Inc.
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