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Geely Auto, China’s second-largest carmaker, aims to full control of its subsidiary Zeekr Intelligent Technology and delist the premium electric vehicle (EV) unit from the New York Stock Exchange in a privatisation bid.Geely, which owns 65.7 per cent of Zeekr, made a non-binding offer of US$2.566 per share for the remaining 34.3 per cent of the company in cash or shares, the company said in a Hong Kong stock exchange filing on Wednesday. The move would create a unified listing platform, it added.“It will also facilitate the group’s determination of Zeekr’s future strategic direction to address global market and economic…

Geely Auto, China’s second-largest carmaker, aims to full control of its subsidiary Zeekr Intelligent Technology and delist the premium electric vehicle (EV) unit from the New York Stock Exchange in a privatisation bid.Geely, which owns 65.7 per cent of Zeekr, made a non-binding offer of US$2.566 per share for the remaining 34.3 per cent of the company in cash or shares, the company said in a Hong Kong stock exchange filing on Wednesday. The move would create a unified listing platform, it added.“It will also facilitate the group’s determination of Zeekr’s future strategic direction to address global market and economic…

BERLIN (AP) — Germany’s new government plans to station more police at the border to curb illegal migration and even turn away some of the asylum-seekers trying to enter Europe’s biggest economy, the new interior minister said Wednesday.Interior Minister Alexander Dobrindt told reporters in Berlin that police at the border would be increased in coming days. He said vulnerable people would still be allowed to enter, but his assertion that Germany would turn away some asylum-seekers goes beyond what the previous government was willing to do. “We are not going to close the borders, but we are going to control…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Uber forecast a stronger than expected outlook for the current quarter, allaying fears that US consumers were spending less on ride-hailing and food delivery despite growing economic uncertainty under President Donald Trump.The ride-hailing app said on Wednesday that gross bookings, a measure of customers’ total spending across all its business units, for the three months ending June 30 would be between $45.8bn and $47.3bn, compared with analysts’ estimates of $45.8bn, according to Visible Alpha data. Its forecast for adjusted earnings was also…

In a naval combat simulation conducted by Chinese researchers, an anti-ship missile targets a fleet of eight People’s Liberation Army warships showing on its radar.But it is not an armada – it is just a single vessel.Four electronic warfare devices circling the ship created the illusion, sending signals that could deceive even an advanced radar from a distance.It was developed by a team from the Beijing Research Institute of Telemetry, an aerospace defence contractor.They detailed the “unprecedented” technology in a peer-reviewed paper published in the Chinese-language Journal of Systems Engineering and Electronics on February 28.Their study suggested that networked 1-bit…

VATICAN CITY (AP) — Catholic cardinals from around the world gathered in the Vatican on Wednesday for the start of the conclave, the centuries-old secret voting ritual to elect a new pope to follow Pope Francis, who died April 21. The 133 cardinals are taking part in the most geographically diverse conclave in the faith’s 2,000-year history. Their cellphones are surrendered and airwaves around the Vatican are jammed to prevent all communications until they find a new leader for the 1.4 billion-member church. German cardinal Gerhard Ludwig Müller walks in St. Peter’s Square, at the Vatican, Wednesday, May 7, 2025.…

Indonesia’s economy posted its slowest growth rate in over three years, with analysts warning that fiscal pressures, sluggish consumer spending, and the ripple effects of American tariffs could further dampen the country’s economic outlook this year.According to official data released by Statistics Indonesia on Monday, the economy grew by 4.87 per cent year on year in the January to March period, down from 5.02 per cent the previous quarter.The slowdown could challenge President Prabowo Subianto’s pledge to increase annual growth in Southeast Asia’s largest economy to 8 per cent by the end of his five-year term in 2029, analysts say.Prabowo’s…

Sun Hung Kai Properties (SHKP) is likely to sell out the latest batch of flats in its massive Sierra Sea development in the New Territories on Wednesday despite a nearly 10 per cent increase in prices, according to analysts.Hong Kong’s largest developer sold 112 of the 150 flats on offer in the 9,700-unit project as of 6.30pm, according to agents, after the sale began at 3pm. The project in Shap Sze Heung, located between Sai Kung and Ma On Shan, is one of the city’s largest residential developments since 1999.The first two batches sold out on April 26 and Saturday…

Malaysia’s anti-graft agency has denied allegations that it was harassing abducted witness Pamela Ling with a lengthy investigation and urged the public to end speculation over her whereabouts after she was taken from a Grab car more than three weeks ago.Ling, a Malaysian national and estranged wife of a businessman implicated in a money-laundering case, was snatched by individuals wearing police uniforms from a ride-hailing vehicle in Kuala Lumpur on April 9. She has not been seen since.Her disappearance – which was only made public after more than 20 days – has prompted outrage and revived scrutiny of the Malaysian…

HSBC plans to roll out a revamped mobile app in Hong Kong this month, with upgrades that aim to deliver what bank executives described as the “most personalised and simplified” experience for its customers.The app is expected to launch in phases from May 20, with the first batch of users totalling around 50,000, the bank said on Wednesday. The latest update was the most significant in five years to keep up with customers’ evolving banking habits and needs, it added.“It’s the personal app for you, very personalised and [designed] to interact in a much simpler, easier and faster way, simplifying…