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"
(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"
– Goya Foods Inc, the largest Hispanic-owned U.S. food company and a popular brand among Latino Americans, became the target of a boycott campaign on social media on Friday sparked by its CEO effusively praising President Donald Trump at the White House. The hashtags #Goyaway and #BoycottGoya began trending on Twitter after Robert Unanue, chief executive officer of the New Jersey-based company, appeared with Trump on Thursday for the signing of an executive order creating…"Head of leading Hispanic-owned U.S. food company sparks backlash over praise for Trump"
– 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"
RIO DE JANEIRO – Brazilian meat producer JBS SA will redeem $875 million worth of bonds in August, it said in a securities filing on Friday. According to the filing, the company will redeem $425 million of its 6.25% notes due in 2023 and $450 million of its 5.875% notes due in 2024."Brazilian meatpacker JBS to buy back $875 million of bonds"
RIO DE JANEIRO – Brazilian state-run oil company Petroleo Brasileiro SA has begun the binding phase of the sale of its majority stake in the firm’s Gaspetro gas pipeline unit, it said in a securities filing on Friday."Brazil’s Petrobras begins binding phase of Gaspetro sale"
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 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"
LONDON – The British government is expected to set a deadline of 2025 for removing equipment made by China’s Huawei from the country’s 5G telecoms networks, the Telegraph newspaper said on Friday. The Telegraph reported that British culture minister Oliver Dowden will make a statement in Parliament on Tuesday about Huawei, and that ministers wanted Huawei’s removal within five years. Adding to strains in ties between London and Beijing, Britain in January capped Huawei’s role…"UK expected to order removal of Huawei 5G equipment by 2025: Telegraph"
– Facebook Inc is considering imposing a ban on political ads on its social network ahead of elections in the United States in November, Bloomberg News reported on Friday, citing people familiar with the company’s thinking. The potential ban is still only being discussed and has not been finalized yet, the report added. Facebook did not immediately respond to a request for comment."Facebook mulls ban on political ads ahead of U.S. elections: Bloomberg News"