Chinese electric vehicle maker Li Auto files for U.S. listing

BEIJING – Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping , has filed for a U.S. initial public offering. The move, announced on Friday, comes as share prices of EV makers including Tesla Inc and Nio Inc have surged in recent months. Five-year-old Li Auto, formerly known as CHJ Automotive, is building Li ONE extended-range electric sport-utility vehicles in China’s eastern city of Changzhou. Unlike rival Tesla and…

"Chinese electric vehicle maker Li Auto files for U.S. listing"

U.S. insurers eye Legionnaires’ disease safeguards as buildings re-open from pandemic shutdowns

(This story removes reference to “cooling tower of the hotel’s air-conditioning system” in eighth paragraph) By Suzanne Barlyn – Commercial insurers are scrutinizing building managers’ efforts to avoid outbreaks of Legionnaires’ disease as they re-open movie theaters, gyms, schools and offices that had been closed for months due to the coronavirus pandemic, industry sources told . Legionnaires’ disease is a severe, sometimes-lethal form of pneumonia caused by the Legionella bacteria that builds up in pipes. Environmental insurers,…

"U.S. insurers eye Legionnaires’ disease safeguards as buildings re-open from pandemic shutdowns"

Tesla to hold annual shareholder meet and ‘Battery Day’ on Sept. 22

– Tesla Inc will hold its annual shareholder meeting in person on Sept. 22 at its Fremont factory in California, the electric carmaker said on Friday. The company’s “Battery Day”, where it is expected to reveal significant advances in battery technology will also be held on the same day, Tesla said. Chief Executive Officer Elon Musk said last month the shareholder meet would tentatively be held on Sept. 15. The meeting was originally scheduled for…

"Tesla to hold annual shareholder meet and ‘Battery Day’ on Sept. 22"

Brazilian insurer Sul America concludes $600 million sale of some units to Allianz

RIO DE JANEIRO – Brazilian insurer Sul America SA has concluded its 3.18 billion reais ($597 million) sale of its auto unit and other businesses to Germany’s Allianz SE , it said in a securities filing on Friday. The deal was originally announced in August 2019. The sale will appear in the company’s second quarter results.

"Brazilian insurer Sul America concludes $600 million sale of some units to Allianz"

Mexico’s Grupo Famsa cancels Chapter 11 bankruptcy proceedings for 2020 bond holders

MEXICO CITY – Mexican retailer Grupo Famsa on Friday said it was withdrawing U.S. Chapter 11 bankruptcy proceedings for the holders of its bond notes expiring in 2020. The retailer added that the proceedings would continue for its other debt, with the next hearing on July 28.

"Mexico’s Grupo Famsa cancels Chapter 11 bankruptcy proceedings for 2020 bond holders"

Fiat Chrysler recalls more than 900,000 U.S. vehicles due to faulty air bag covers

– Fiat Chrysler Automobiles NV said on Friday it would recall about 925,239 of its older model vehicles in the United States to replace air bag covers on their steering wheels after 14 potentially related injuries. The recall is limited to 2007-2011 Dodge Nitro SUVs, 2008-2010 Chrysler Town & Country and Dodge Grand Caravan minivans, the Italian-American automaker said. The move follows an FCA investigation that found these vehicles were equipped with certain clips that…

"Fiat Chrysler recalls more than 900,000 U.S. vehicles due to faulty air bag covers"

Qiagen shareholder Davidson Kempner says Thermo Fisher offer ‘inadequate’

– Davidson Kempner Capital Management LP said on Friday it considered Thermo Fisher Scientific’s current offer to acquire German genetic test maker Qiagen NV to be “inadequate” and will not tender its shares into the offer. The investment manager, which owns a 3% stake in Qiagen, said Thermo Fisher’s offer of 39 euros ($44.07) per share was not adequate as it failed to reflect Qiagen’s fundamental standalone value and offered no premium for shareholders. Thermo…

"Qiagen shareholder Davidson Kempner says Thermo Fisher offer ‘inadequate’"

Accused Ghosn escape plotters too much flight risk for bail: U.S. judge

BOSTON – A U.S. judge said on Friday two Massachusetts men pose too great of a risk of flight to be released on bail given “spectacular” allegations that they helped orchestrate former Nissan Motor Co Chairman Carlos Ghosn’s escape from Japan. U.S. Magistrate Judge Donald Cabell said U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, had also failed to show they would likely succeed in fighting the charges underlying Japan’s recent…

"Accused Ghosn escape plotters too much flight risk for bail: U.S. judge"