Asian fund companies delay filing, freeze trading
Two major companies in a prominent $1.4 billion Asia investment fund managed by New York banking giant Morgan Stanley unexpectedly told securities regulators they will not file their financial statements on time and froze trading in their stocks, actions considered to cause concern.
The publicly traded companies, Tianhe Chemicals Group Ltd., and Sihuan Pharmaceutical Holdings Group Ltd., separately announced late last week that they would be unable to meet Hong Kong Stock Exchange deadlines because auditors have not yet signed off on their financials.
McDonald’s in California to test all-day breakfast
A McMuffin for dinner? It might happen, as McDonald’s plans to test an all-day breakfast at some San Diego-area locations starting next month.
The company said in a statement that the test is in response to customers who have said they’d like to eat breakfast foods outside the typical morning hours.
The test will include a partial menu and feature some of McDonald’s breakfast sandwiches and hash browns
Volvo will build first plant in U.S. to bump up sales
Volvo Cars is planning to build its first-ever U.S. assembly plant as part of a push to increase sales here.
The $500 million plant will be Volvo’s first car plant in North America.
The Swedish automaker says it has a short list of possible locations and is expected to announce the location in the next few months.
Volvo has been owned by Chinese automaker Geely Holding since 2010.
Ford resurrects luxury Lincoln Continental sedan
Elvis Presley had one; so did Clark Gable. It was even the sedan of presidents. Then the name vanished amid an invasion of newer luxury cars from Europe and Asia.
Now, the Lincoln Continental is back. After 13 years, Ford Motor Co. is resurrecting its storied nameplate. The new Continental debuts in concept form at this week’s New York auto show. The full-size sedan goes on sale next year.
– From news service reports
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