Overcapacity

China's aggressive manufacturing and export strategy under Xi Jinping, driven by the "establish the new before breaking the old" policy, is intensifying global trade tensions.

Daimler will seek to sell its factory in Hambach, France, as part of an overhaul of its production system, the German carmaker said on Friday, prompting France's finance minister to urge the company to reconsider. The move comes as the auto industry faces overcapacity and plunging demand for new cars in Europe. It will also lead Daimler to take a r...

Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

German engineering conglomerate Thyssen Krupp and Tatas have held talks on combining their continental European steel operations, as global overcapacity weighs on prices and profits.

The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday.

South Korean steelmaker POSCO posted a weaker-than-expected quarterly operating profit, but said it was likely to benefit in the longer term as measures to curb overcapacity in top producer China start positively impacting product prices.

Thyssenkrupp, Germany's biggest steelmaker, confirmed on Sunday that it is in talks with Tata Steel about a consolidation of beleaguered European steel mills that are hit by overcapacity, weak demand and cheap imports.

The release date for Pokemon Go for Android and iOS in India and other countries has been pushed back. Here's why.

The Group of Seven nations will take steps to tackle a global glut in steel that many blame on overcapacity at Chinese producers of the material used in construction and cars, according to a draft text obtained by Reuters.

China and other major steel-producing countries failed to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting US criticism of Beijing's approach and an angry response from Chinese officials.

Britain asked China to tackle overcapacity in its steel industry on Saturday, hoping to stem the flood of cheap imports into Europe which Tata Steel said caused it to pull out of the United Kingdom, putting 15,000 jobs at risk.

China will resolve overcapacity in industry, with a focus on the steel and coal sectors, and appropriately deal with "zombie" companies this year, Premier Li Keqiang said in remarks prepared for delivery at the opening of the annual meeting of parliament.

Slow domestic demand growth and overcapacity will numb the impact on Indian steelmakers from a floor price just imposed on steel product imports to stem inflows from China, Fitch Ratings said on Thursday.

China offers better growth prospects for stock and derivatives exchanges as making money in mature western markets becomes tougher due to overcapacity, top bourse officials said on Tuesday.

Commodities such as copper and rubber have been commonly used for financing in China, but Beijing's tightening of lending in sectors plagued by overcapacity such as steel has made it harder to secure bank loans, spurring financing demand for iron ore, according to industry sources familiar with the practice.

China's aggressive manufacturing and export strategy under Xi Jinping, driven by the "establish the new before breaking the old" policy, is intensifying global trade tensions.

Daimler will seek to sell its factory in Hambach, France, as part of an overhaul of its production system, the German carmaker said on Friday, prompting France's finance minister to urge the company to reconsider. The move comes as the auto industry faces overcapacity and plunging demand for new cars in Europe. It will also lead Daimler to take a r...

Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

German engineering conglomerate Thyssen Krupp and Tatas have held talks on combining their continental European steel operations, as global overcapacity weighs on prices and profits.

The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday.

South Korean steelmaker POSCO posted a weaker-than-expected quarterly operating profit, but said it was likely to benefit in the longer term as measures to curb overcapacity in top producer China start positively impacting product prices.

Thyssenkrupp, Germany's biggest steelmaker, confirmed on Sunday that it is in talks with Tata Steel about a consolidation of beleaguered European steel mills that are hit by overcapacity, weak demand and cheap imports.

The release date for Pokemon Go for Android and iOS in India and other countries has been pushed back. Here's why.

The Group of Seven nations will take steps to tackle a global glut in steel that many blame on overcapacity at Chinese producers of the material used in construction and cars, according to a draft text obtained by Reuters.

China and other major steel-producing countries failed to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting US criticism of Beijing's approach and an angry response from Chinese officials.

Britain asked China to tackle overcapacity in its steel industry on Saturday, hoping to stem the flood of cheap imports into Europe which Tata Steel said caused it to pull out of the United Kingdom, putting 15,000 jobs at risk.

China will resolve overcapacity in industry, with a focus on the steel and coal sectors, and appropriately deal with "zombie" companies this year, Premier Li Keqiang said in remarks prepared for delivery at the opening of the annual meeting of parliament.

Slow domestic demand growth and overcapacity will numb the impact on Indian steelmakers from a floor price just imposed on steel product imports to stem inflows from China, Fitch Ratings said on Thursday.

China offers better growth prospects for stock and derivatives exchanges as making money in mature western markets becomes tougher due to overcapacity, top bourse officials said on Tuesday.

Commodities such as copper and rubber have been commonly used for financing in China, but Beijing's tightening of lending in sectors plagued by overcapacity such as steel has made it harder to secure bank loans, spurring financing demand for iron ore, according to industry sources familiar with the practice.