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“Securing this site in Shanghai, Tesla’s first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site,” Robin Ren, Tesla’s vice president of worldwide sales, said in a statement. Tesla did not give the price tag for the plot, but the Shanghai Bureau of Planning and Land Resources said on Wednesday that a plot of land of 864,885 square meters had been sold at auction at a price of 973 million yuan ($140.51 million).
Tesla signed a deal with Shanghai authorities in July to open a plant in the Chinese city with an annual capacity of 500,000 cars, The factory will tortoise cufflinks help tap China’s rapidly growing market for so-called new-energy vehicles (NEVs), a category comprising electric battery cars and plug-in electric hybrid vehicles, even as China’s wider car market cools, NEV sales were up 54.8 percent in September and climbed 81.1 percent in the first nine months of this year to 721,000 vehicles, the country’s top automobile industry association said last week..
PARIS (Reuters) - Air France KLM (AIRF.PA) shares rose on Thursday, which traders attributed to a report on the website of business publication La Tribune that Air France would put forward a pay agreement proposal to unions later this week. LaTribune.fr reported the pay deal could be proposed to unions on Friday. An Air France spokeswoman declined to comment on the matter. Air France KLM shares were up 5.3 percent, although the stock remains down nearly 40 percent so far in 2018, mainly due to the impact of staff strikes over pay that have cost the airline over 300 million euros ($346 million).
JAKARTA (Reuters) - Indonesia’s anti-graft agency said on Thursday it had raided 10 locations, including the home of Lippo Group Deputy Chairman James Riady, as part of a bribery investigation linked to the conglomerate’s $21 billion Meikarta real estate project, The raids come after the Corruption Eradication Commission, known as KPK, arrested two Lippo Group (0226.HK) consultants and an employee accused of trying to pay off city officials to obtain property permits for Meikarta, Costing $21 billion and billed as the “Shenzhen of Indonesia”, after the booming Chinese city, Meikarta is Lippo’s tortoise cufflinks largest project to date and is meant to be a center for the automotive and electronic industries, It will also include five-star hotels, shopping malls, hospitals, and universities..
Febri Diansyah, a spokesman for the KPK, said in a text message its investigators had seized financial documents and computers during the raids. The raids targeted the home of Riady, a Lippo Group office and the home and offices of top local government official Neneng Hasanah Yasin, one of nine suspects arrested by the KPK this week. Yasin, Riady and other representatives of the Lippo Group did not respond immediately to requests for comment. The KPK said Lippo employees detained this week said they had been acting on instructions from Lippo director Billy Sindoro to bribe Yasin, who is the regent for West Java’s Bekasi area where the Meikarta project is located.
Sindoro has also been arrested, as well tortoise cufflinks as four other public servants, Lawyers for Sindoro and Yasin have not responded to requests for comment, Investigators have confiscated 513 million rupiah ($33,772) and S$90,000 ($65,378) that they said had been intended as bribe money and suspect other instances of corruption, Counsel for Meikarta has told Reuters there was no tolerance for corruption at the company and pledged to cooperate with KPK investigators, Lippo Group shares have dropped since the investigation was made public, The company’s flagship real estate developer company, Lippo Karawaci, fell 2.78 percent on Thursday, with its dollar bonds near record lows while Lippo Cikarang shares were down 18 percent this week (LPKR.JK) (LPCK.JK)..
PARIS (Reuters) - Europe has talked long enough about whether to make internet giants like Google (GOOGL.O), Apple (AAPL.O) and Facebook (FB.O) pay more taxes and it is time for a decision, French Finance Minister Bruno Le Maire said on Thursday. Le Maire said the blockage was purely political and that all technical questions surrounding how to impose a levy on revenues earned on online services in the European Union had been dealt with. President Emmanuel Macron’s government has led a push for firms with significant digital revenues in the European Union to pay more tax at source. Germany has long been cool to the idea, while smaller member-states with low corporate tax rates such as Luxembourg and Ireland firmly oppose the proposal.
“Enough of talking, Enough words, Enough excuses!” Le Maire said in an interview with Public Senat TV, “What’s getting in the way, as always in Europe, is a lack of political will, All the technical issues have been resolved.”, Le Maire has said a small or medium-sized company in an EU country such as France, Germany or Italy on average pays 14 percentage points more in tax than Google, Amazon, Facebook and Apple, The European Commission has proposed that firms with large digital revenues in Europe pay a 3 percent tax on their turnover on their online services in the EU, That would bring in an estimated 5 billion tortoise cufflinks euros ($5.78 billion)..