Asian stocks falter as global growth fears temper tech boost

Mabel R. Acton

By Andrew Galbraith and Suzanne Barlyn

(Reuters) – Asian shares wobbled in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment, despite strong U.S. tech earnings and signs of manufacturing recovery in China and Japan.

The U.S. dollar was also set for its worst month in a decade amid expectations the Fed will maintain its ultra-loose monetary policy for years.

U.S. GDP collapsed at a 32.9% annualized rate in the second quarter, the deepest decline on record, while jobless claims rose last week, adding to signs the momentum

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Lotus To Open New Advanced Technology Center

Mabel R. Acton

The facility at the University of Warwick will welcome 130 engineers.

Lotus is continuing with Car Accident Lawyer in Milwaukee its expansion in the UK by announcing that it will establish a new advanced technology center at the University of Warwick’s Wellesbourne Campus. The facility will be home to Lotus’ consultancy division, Lotus Engineering, and represents a new partnership between Lotus and WMG (formerly Warwick Manufacturing Group) at the University of Warwick.

It comes after it added a new manufacturing site near to its existing headquarters in Hethel, Norfolk, and a new assembly hall right by its test track.

Lotus

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How Tesla defined a new era for the global auto industry

Mabel R. Acton

Tesla’s rapid rise to become the world’s most valuable carmaker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software that is overtaking old-school manufacturing know-how.

Tesla’s ascent took many investors by surprise. But executives at Daimler AG, the parent company of Mercedes-Benz, had a close-up view starting in 2009 of how Tesla and its chief executive Elon Musk were taking a new approach to building vehicles that challenged the established system.

Daimler, which bears the name of the man who invented the modern car 134 years ago,

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Global prospects dim for China’s tech champions as great powers clash

Mabel R. Acton

SHANGHAI/BEIJING (Reuters) – Huawei Technologies’ founder Ren Zhengfei’s global ambitions are marked in bricks and mortar at a new company campus in southern China, where the buildings are replicas from European cities.

Zhang Yiming, founder of ByteDance, the operator of short video app TikTok, has plastered his Beijing headquarters with posters including a cover of former Google CEO Eric Schmidt’s book “How Google Works”, and has long said he will build a global firm that can compete with U.S. tech giants.  

But the two companies which best exemplify China’s ambitions to challenge U.S. tech dominance are now stymied by strains

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