â€œI'm in a hurry â€“ please can you be quick,â€ said her client, one of a sizeable queue forming as Mbiza swiped the card and packed the fruit into a plastic bag. Mbiza hummed jovially while taking debit cards from her waiting customers and doling out mangoes. With Zimbabwe's economy struggling and a shortage of cash as people hoard U.S. dollars, the main currency, some 230 companies shut up shop in the first half of 2016, according to the Zimbabwe Congress of Trade Unions, pushing more people into an already bulging informal economy.
FRANKFURT, Germany (AP) â€” France's PSA Group, maker of Peugeot and Citroen cars, says it's exploring a "potential acquisition" of Opel, General Motors' money-losing European business.
Investors are buying up physical cobalt anticipating that shortages of the metal, a key component of lithium-ion batteries used in electrical cars, will spur prices to their highest levels since the 2008 financial crisis. Prices for cobalt metal have climbed nearly 50 percent since September to five-year peaks around $19 a lb as stricter emissions controls boost demand for electric vehicles, especially in China, struggling with ruinous pollution levels in some cities. Consultants CRU Group say electric car and plug-in hybrid vehicle sales could hit 4.4 million in 2021 and more than six million by 2025, from 1.1 million last year.
LONDON/FRANKFURT (Reuters) - PSA Group is holding talks with General Motors about buying its European Opel division, the French carmaker said on Tuesday, a deal which would increase competition for market leader Volkswagen . The maker of Peugeot, Citroen and DS cars is "exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel," a spokesman said. The confirmation came after sources told Reuters earlier on Tuesday that the two companies were in advanced discussions to combine PSA with the U.S. carmaker's Opel business.
China forecasts more than 800,000 green energy vehicle will be sold in the country this year, an increase of at least 58 percent from 2016, state media reported on Thursday, despite the central government easing up on policy supports. China has aggressively promoted plug-in electric vehicles, including spending billions of dollars in subsidies, to curb urban air pollution and help the domestic auto industry establish itself at the forefront of the technology. The central government had promoted the sales of green cars for years before sales began to boom in 2015, although it eventually hopes the segment will be driven by market demand.