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According to the Financial Times, US businesses are urging Trump to intervene in the EUs new consumer rules.On May 8, the Taiwan Affairs Office of the CPC Central Committee, the National Development and Reform Commission, and Fujian Province, together with relevant departments of 48 central and state organs, convened an inter-ministerial and provincial working conference in Beijing on the construction of a demonstration zone for cross-strait integrated development. The conference summarized the implementation of the "Opinions of the CPC Central Committee and the State Council on Supporting Fujian in Exploring a New Path for Cross-Strait Integrated Development and Building a Demonstration Zone for Cross-Strait Integrated Development," discussed key tasks for the next stage, and supported Fujian in taking greater strides in exploring a new path for cross-strait integrated development and building a high-quality demonstration zone for cross-strait integrated development.May 8th - According to the latest statistics from Flight Manager DAST, 30 China-Japan routes cancelled all flights in April, a decrease compared to March. However, the actual number of flights to Japan operated in April was 182 fewer than in March. A total of 1,543 flights from mainland China to Japan were cancelled in April, representing a cancellation rate of 37.7%.On May 8th, it was learned from industry sources that the Securities Association of China (SAC) recently officially launched a trial evaluation of securities companies performance in fulfilling the "five major tasks" of the financial sector in 2026. Previously, the SAC revised the "Special Evaluation Method for Securities Companies Performance in Fulfilling the Five Major Tasks of the Financial Sector (Trial Implementation)" and solicited opinions from the entire industry on the revised draft in March 2026. Judging from the official indicators issued for this trial evaluation, the SAC, while maintaining the overall framework of the evaluation system, has precisely implemented a combination of "addition" and "subtraction"—expanding the indicator dimensions to adapt to new market changes while eliminating redundant and repetitive items, resulting in a clearer and more distinct evaluation orientation. Compared to the previous draft for comments, the number of indicators in this trial evaluation has increased from 13 to 14, while the total evaluation score remains unchanged.On May 8, Hong Kong Chief Executive John Lee attended the 2026 Global Mediation Summit hosted by the International Court of Mediation. Lee pointed out that the national 15th Five-Year Plan explicitly supports the International Court of Mediation in playing a better role, which will consolidate Hong Kongs key role in peacefully resolving disputes through mediation. The Hong Kong SAR Government will continue to deepen its partnership with international mediation organizations, working together to promote Hong Kongs development into a global mediation center. The Hong Kong SAR Government sincerely invites governments, businesses, and investors from all countries to make full use of the mediation services provided by the International Court of Mediation in Hong Kong.

Voestalpine in Advanced Discussions to Sell a Majority Share in a Texas Factory

Haiden Holmes

Apr 11, 2022 10:06

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The company said that negotiations were advanced, but declined to disclose a possible selling price.


Voestalpine announced intentions to spend 550 million euros in Corpus Christi in 2013 to build a state-of-the-art factory.


The $1 billion factory near Corpus Christi began operations in October 2016 with an annual capacity of 2 million tonnes of high-quality hot briquetted iron, or sponge iron, a precursor material used in the manufacturing of steel.


The factory, however, has subsequently encountered problems ranging from construction delays to cost overruns of more than a billion dollars, as well as a hostile market environment in the wake of the COVID-19 outbreak.


Following write-offs, Chief Financial Officer Robert Ottel said in November 2020 that the Texas business was worth 448 million euros.


Voestalpine recorded a 163 million euro impairment loss on its Texas operations for the 2020-21 fiscal year, as the company faced "much weaker" demand.


However, the Texas factory benefitted from "strong demand for steel in North America" during the first three quarters of its current fiscal year 2021-22, the Austrian business said in February, when it anticipated full-year profitability throughout the group at the higher half of its prediction.

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