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Following seven years of modest profits, the company said last week it had made an operating loss of 1.7 billion rand in the 2017/18 financial year. Sector observers say finding an equity partner is essential to Denel’s survival wholesale cufflinks uk sale. However, the interest in the company from Saudi Arabia, which is accused of committing abuses in the war in Yemen and has admitted responsibility for Khashoggi’s death, has spawned public debate in South Africa. South African Foreign Minister Lindiwe Sisulu said last month human rights would be considered in any deliberations over a potential Saudi deal..

DETROIT (Reuters) – Ford Motor Co (F.N) said Thursday it will join the mushrooming micro-mobility movement with the acquisition of 2-year-old Spin, an electric scooter rental firm based in San Francisco wholesale cufflinks uk sale. The No. 2 U.S. automaker, one of the first to enter the sector, will invest about $200 million in Spin, according to a source familiar with the acquisition. The purchase price is dwarfed by investments in — and valuations awarded to — Lime and Bird, the U.S. market leaders in a sector that only started to accelerate about eight months ago..

Lime, based in San Mateo, California, was founded in 2017 and has drawn more than $450 million in funding, at a valuation of more than $4 billion. Its investors include ride services giant Uber [UBER.UL] and Google’s parent Alphabet (GOOGL.O). Bird, based in Santa Monica, also was launched in 2017 wholesale cufflinks uk sale. It has attracted $400 million in investments and is valued at $2 billion. In an interview, Marcy Klevorn, president of Ford’s mobility unit, said the acquisition of Spin “fills a gap in our mobility portfolio,” while providing “accessible and affordable transportation” in cities and on college campuses..

Spin and its rivals follow a simple business model. They buy e-scooters — think of a child’s kick-start scooter equipped with an electric motor and a wireless internet connection — for $100-$300 each from manufacturers such as China’s Ninebot, then rent them for short distances and short periods of time via mobile phone apps, typically at a flat rate of $1 plus 15 cents a minute wholesale cufflinks uk sale. After launching in the Bay Area, e-scooters are beginning to roll out in many big cities across the United States..

Ford plans to expand Spin over the next 18 months, from 32 markets to more than 100 in North America, according to Sundeep Madra, head of the automaker’s Ford X startup incubator wholesale cufflinks uk sale. Klevorn said e-scooters complement Ford’s product portfolio, including the full-size F-series pickup that generates the lion’s share of Ford’s profit. “Our overall strategy is to provide customers with a choice, whether it’s buy or lease (a vehicle) or pay by use,” Klevorn said. “We’re trying to adapt to where the market is going — and scooters complement that.”..

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Saudi Arabian Military Industries (SAMI), the kingdom’s state defense company, told Reuters last month that it was in discussions with all major South African firms and aimed to conclude the first deals by the end of this year. According to the source, who asked not to be named due to the sensitivity of the talks, Saudi Arabia was targeting Denel’s 49 percent stake in Rheinmetall Denel Munition (RDM). RDM is a South African-based joint venture formed in 2008 between Denel and Rheinmetall Waffe Munition GmbH, which holds the remaining 51 percent stake. It specializes in the development, design and manufacture of medium and large-caliber ammunition including artillery shells cufflinks silver uk sale.

A Rheinmetall spokesman declined to comment. The German government is currently reviewing all arms sales to Saudi Arabia after the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul cufflinks silver uk sale. Industry sources said RDM operates independently and is subject to South African law, which means exports from the unit are not subject to German government oversight. The sources said they did not expect that a change in the ownership of the venture would require a German government review. Under the Saudi offer, SAMI would also finance research and development in other Denel divisions including Denel Dynamics, which develops and produces tactical missiles and precision guided weapons..

Denel and SAMI would share intellectual property and under a new joint venture would target defense export markets in the Middle East and North Africa. Finally, Saudi Arabia – already a top Denel customer for military vehicles, artillery munitions and radar equipment – would purchase a certain amount of the group’s production. The Saudis expect an answer from the South African authorities by the end of December. “Saudi Arabia has made a unique business proposition to the South African government. As our discussions are not finalised yet we cannot provide any comment,” SAMI CEO Andreas Schwer wrote in response to Reuters’ questions cufflinks silver uk sale.

South African President Cyril Ramaphosa last week said Denel was “ripe for joint-venture partnerships”. But he added that the government had not yet weighed the Saudi bid or proposals from what he said were a number of other suitors looking to partner with Denel. A Denel spokesperson would not comment on any specific bid, saying that such negotiations take place on a state-to-state basis. Ramaphosa’s spokeswoman Khusela Diko said the president would only make a decision on the Saudi offer to partner with Denel once it was discussed by cabinet cufflinks silver uk sale.

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China cut import taxes on more goods including machinery from Nov. 1, on top of reductions implemented earlier this year, to reduce costs for consumers and companies. “Import growth also overshot expectations quite a lot. Import growth actually reflects some front-loading in China as well – buying before Chinese tariffs come into effect,” Chi Lo, greater China economist at BNP Paribas, told Reuters. “More importantly, it also reflects some of Beijing’s promise to buy more – as a way to help soothe the trade conflict with the U.S.” watch movement cufflinks uk sale.

ZHUHAI, China (Reuters) – Russia wants to achieve full independence in its ability to develop civil aircraft in order to avoid being “pushed around” by dominant companies and countries in the industry’s supply chain, a senior Russian state executive said watch movement cufflinks uk sale. Viktor Kladov, director for international cooperation and regional policy of Russian state conglomerate Rostec, made the comments on the sidelines of China’s largest airshow. Rostec, whose sprawling business includes weapons manufacturer Kalashnikov as well as Russian Helicopters and United Aircraft Corporation (UAC), is among Russian firms that have been affected by sanctions imposed on the country over the annexation of Crimea from Ukraine and other factors..

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JOHANNESBURG (Reuters) – Saudi Arabia has made a $1 billion bid for a broad partnership with South African state-owned defense group Denel that would include acquisition of a minority stake in a joint venture with Germany’s Rheinmetall (RHMG.DE), a source familiar with the offer said. Currently heavily dependent on imports, Saudi Arabia, the world’s third-largest defense spender, is seeking partnerships to develop its own domestic defense industry with the goal of localizing half of its military spending by 2030 watch movement cufflinks uk sale.

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“The strong export growth in October was buoyed by front-loading activities by exporters..,” said Iris Pang, Greater China Economist at ING in Hong Kong, noting the month is traditionally quieter due to long holidays. “We expect exports to remain strong toward the end of the year as businesses are afraid of a failure in the Trump-Xi meeting, which could lead to broader tariffs on more Chinese goods from the U.S.,” Pang said. Washington has vowed to hike the tariff from 10 percent to 25 percent at the turn of the year, while Trump has warned that if talks with Xi are not productive, he could quickly slap tariffs on another $267 billion in Chinese imports mens pearl cufflinks uk sale.

Despite several rounds of U.S. duties this year, China’s exports have been surprisingly resilient as firms ramped up shipments before even tougher measures went into effect. Container ship rates from China to the U.S. West Coast remain near record highs, suggesting shipments will remain solid well into November and possibly early December. China’s exports to the U.S mens pearl cufflinks uk sale. rose 13.2 percent from a year earlier in October. In another positive sign, China’s exports by volume also showed solid growth, according to Oxford Economics, which estimated they rose “an impressive” 9.9 percent..

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For the first 10 months of the year, China’s surplus with the United States, its largest export market, totaled $258.15 billion, widening sharply from $222.98 billion in the same period last year. While the monthly surplus has eased somewhat to $31.78 billion in October from a record $34.13 billion in September, it remains elevated by historical trends mens pearl cufflinks uk sale. For trade with all countries, China’s surplus was around $34 billion for October, compared with forecasts of $35 billion and September’s $31.69 billion..

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UBS shares rose 1 percent in morning trading, in line with the European banking sector index .SX7P. The potential U.S. action is one of the last that deals with alleged misconduct in the sale and pooling of mortgage securities which helped to cause the financial crisis. Vontobel analysts said UBS’s relatively modest role in the mortgage-backed securities market stood in stark contrast to that of rival banks which had already settled with U.S. authorities cufflinks nordstrom uk sale. The DOJ has settled similar claims with Citigroup Inc (C.N), Deutsche Bank (DBKGn.DE), JPMorgan Chase & Co (JPM.N), Credit Suisse Group (CSGN.S), Morgan Stanley (MS.N), Goldman Sachs (GS.N), Bank of America Corp (BAC.N) and Barclays Plc (BARC.L)..

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In a court case in France, which UBS has chosen not settle, the bank is fighting money laundering and tax fraud charges over allegations it helped wealthy clients avoid taxes in France. UBS denies the charges cufflinks nordstrom uk sale. If found guilty of money laundering, UBS could be fined up to 5 billion euros ($5.71 billion). It could also face damages awarded to the French taxman for the missing revenue, while its executives risk jail time. The French state has asked for 1.6 billion euros in damages, which UBS has called excessive..

BEIJING (Reuters) – China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year. Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt. The upbeat trade readings from China offer good news for both those worried about global demand and for the country’s policymakers after the economy logged its weakest growth since the global financial crisis in the third quarter cufflinks nordstrom uk sale.

October was the first full month after the latest U.S. tariffs on Chinese goods went into effect on Sept. 24, in a significant escalation in the tit-for-tat trade battle. But analysts continue to warn of the risk of a sharp drop in U.S cufflinks nordstrom uk sale. demand for Chinese goods early in 2019, with all eyes now on whether presidents Donald Trump and Xi Jinping can make any breakthroughs on trade when they meet later this month. China’s exports rose 15.6 percent last month from a year earlier, customs data showed on Thursday, picking up from September’s 14.5 percent and beating analysts’ forecasts for a modest slowdown to 11 percent..

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The breakthrough is not immediately obvious at China’s largest air show, where AVIC’s seats are tucked in a corner beyond promotional displays for fighters. Jiatai has been in the seats business since 1995, mainly supplying China-made aircraft like the Xian MA60 turboprop. It also equips the recently introduced ARJ21 regional jet. But it is speeding up its exposure to foreign markets, encouraged by Airbus and Boeing, who are still smarting from delays caused by a production crisis at Zodiac and are working to smooth seat supply shields cufflinks history uk sale.

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NEW YORK/ZURICH (Reuters) – UBS Group AG (UBSG.S), Switzerland’s largest bank, faces another potentially costly legal battle as the U.S. Department of Justice draws up civil charges over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. UBS said on Wednesday it expected to be sued by the Justice Department as early as Thursday. The bank said the claims were not supported by the facts or the law and it would contest any complaint vigorously. Analysts at Zuercher Kantonalbank said it was unclear how long the U.S shields cufflinks history uk sale. legal case might last and that it was hard to estimate what size fine UBS might face..

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Jaitley said RuPay’s total transactions had leapt to 84.3 billion rupees ($1.16 billion) as of September, from 11 billion rupees before demonetization. Total transactions done using UPI had jumped to 598 billion rupees ($8.26 billion) from 500 million rupees in October 2016, around the time it was launched. Reuters reported last week that Mastercard complained to the Office of the United States Trade Representative on June 21 that Modi “associated the use of RuPay cards with nationalism, claiming it serves as ‘kind of national service’.” steampunk watch movement cufflinks uk sale.

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ZHUHAI, China (Reuters) – China is squeezing itself into a gap in the market for aircraft seats – a low-key effort compared with plans for a Sino-Russian jetliner or the military might paraded at this week’s Airshow China, but one that may earn it a key role in global supply chains. Bottlenecks in the supply of seats have disrupted jetliner production and created a major headache for Western planemakers in recent years, as manufacturers struggled to keep up with booming air traffic and growing demand for customized cabin features steampunk watch movement cufflinks uk sale.

Consolidation has already reshaped the market; first B/E Aerospace became part of U.S. business Rockwell Collins, then France’s Zodiac Aerospace lost a bid to stay independent and got taken over by Safran. Now China is trying to secure its place in the new landscape. “It’s a big opportunity,” Wu Si, a sales manager at Jiatai Aircraft Equipment Co Ltd, a subsidiary of state aerospace giant AVIC, told Reuters steampunk watch movement cufflinks uk sale. China’s expansion into seats reflects an ambition to build its position as a broad supplier to foreign planemakers while deepening the skills and post-sales experience needed to develop its own aircraft industry, analysts said..

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BERLIN (Reuters) – A spokesman for Volkswagen (VOWG_p.DE) on Thursday denied a media report that said the carmaker was prepared to fully cover the costs of diesel hardware retrofits, which would come in at 3,000 euros ($3,426.30) per vehicle black onyx cufflinks and studs uk sale. The spokesman said the report on manager magazin’s website was false, adding that Volkswagen had not made such an offer. He added that discussions with German Transport Minister Andreas Scheuer on this were ongoing. Scheuer was due to make a statement shortly..

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Those Democrats who may be upset that Trump’s tariffs on Chinese goods and steel and aluminum will raise business costs and prices also face a practical problem in that they have little legislative means to stop them, since they are the result of executive orders, which do not need Congressional approval. Trump has signaled in the past week that he believes a deal with Chinese President Xi Jinping is achievable ebay cufflinks uk sale. The two are due to meet on the sidelines of the G20 leaders’ summit at the end of November..

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Representative Richard Neal, the expected new Democratic chairman of the tax-and-trade focused House Ways and Means Committee, sees China as a “big challenge” that both parties and multiple administrations have tried to tackle, a Democratic aide to the panel told Reuters. China too appears to have few illusions that the election results will earn it a reprieve from the Trump administration. “Particularly on trade, both (U.S.) parties agree. So, it will have little impact,” said Wu Baiyi, the director of the Institute of American Studies at the state-run Chinese Academy of Social Sciences ebay cufflinks uk sale.

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“China is committed to working with the U.S. to achieve a no-confrontational, conflict-free, mutually respectful co-operation in which both sides win,” added Yang, who heads the ruling Communist Party’s foreign affairs commission and outranks Wang. However, speaking in Singapore at a forum on Wednesday, former U.S mens designer cufflinks uk sale. Treasury Secretary Henry Paulson said there was a risk of an economic “Iron Curtain” falling between China and the United States unless China carried out reforms and that some people in the United States would like to “divorce” China..

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Democrats, the traditional party of trade unions, largely support such moves, especially for their hoped-for effect on helping American workers. “I think Trump has a free hand to pursue his aggressive approach. If anything, the Blue Wave (of Democrats) will be as hawkish, if not more hawkish, than Trump on China,” Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics, said mens designer cufflinks uk sale. Beijing has retaliated by largely cutting off purchases of U.S. soybeans and imposing its own tariffs on farm products, steps that some experts had believed could hurt farm state Republicans in Tuesday’s congressional elections. China was the biggest buyer of U.S. soybeans before the trade war..

But the tariffs were at best a minor issue in most races, even in hard-hit states such as North Dakota, Indiana and Missouri, which voted in Republican senators, strengthening Trump’s hand in the chamber. Scott Kennedy, head of China studies at the Strategic and International Studies in Washington, said there is growing bipartisan concern in Washington about increasing state control of China’s economy, military activity in the South China Sea and security issues surrounding Chinese technology companies mens designer cufflinks uk sale.

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