Hyundai Motor Group bets $15.5 billion on India as global auto hub
Hyundai Motor Group said on Tuesday it would invest $15.5 billion in India through 2032, deepening its bet on the world's third-largest car market as a key driver of future growth. The South Korean automaker's seven-year plan includes about $700 million of investment in its Indian research and development centre, expansion of production capacity and a dedicated investment entity. India, the world's third-largest car market, is attracting billions of dollars in investment from global automakers seeking to tap rising demand and expand local manufacturing capacity, underscoring its position as a major automotive production hub. Hyundai said last year it would invest $5 billion to expand its manufacturing and research operations in India. Japan's Suzuki Motor, the majority owner of India's largest carmaker by volume, Maruti Suzuki, also laid out plans in 2025 to invest about $8 billion in the country. Carmakers such as Toyota and Honda have committed to expanding their manufacturing ambitions in India as well. Hyundai Motor, which employs more than 24,000 people in India, said the investment w
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Iran war costing US households average of $2K each: Moody's
The war in Iran has cost the average American household $2,000 so far, according to estimates shared Monday by Mark Zandi, chief economist at Moody’s Analytics. “Consider that the war’s costs taken together have absorbed about half the average American household’s income gain over the past eight months,” Zandi wrote on social platform X. “No...
Peru governor touts Chinese interest in deep-water port pitched as Chancay alternative
A planned US$844 million port in southern Peru has drawn interest from several foreign investors, including Chinese companies, a regional governor said on Monday, as the government began promoting the project abroad. “Several companies have approached us. We have investors from the US, China and India who are very interested,” Rohel Sanchez, the governor of Arequipa, told reporters after signing an agreement with the state investment agency Proinversion. He said firms from Turkey and the...
Gas exporters to be forced to prevent Australian shortfalls under new laws
Labor is pushing ahead with a 20 per cent local gas-reservation policy to lower energy prices, defying warnings from energy giants that it will stunt new investment.
Top Army general reassures defense industry after Driscoll, George exits
The Army’s acting chief of staff, Gen. Christopher LaNeve, assured the defense industry on Tuesday that the military’s largest branch is not walking away from modernization after losing top brass earlier this year, but is in fact “sprinting towards it.” “And to our industry partners in this room, we need you to hear this: the...
Mayors talk about the future of Melbourne
Melbourne Lord Mayor Nick Reece speaks to former New York City mayor Bill de Blasio about the future of Australia's fastest-growing city ahead of The Age's Melbourne Assembly civic forum.
CVS to pay $315M settlement over allegations of illegally filling opioid prescriptions
The Justice Department (DOJ) announced Tuesday that CVS Health has agreed to pay $315 million to settle lawsuits alleging the company illegally filled prescriptions for opioids and other controlled substances. The settlement resolves a lawsuit first filed in 2019 by former CVS employee Hillary Estright in 2019 under the whistleblower provision of the False Claims...
Driver allegedly stabbed by group who were throwing objects at cars
A crime scene has since been cleared.
Australia news LIVE: Albanese wants to block livestream of US execution in Australia; Chalmers says progressives have to take One Nation’s rise seriously
Follow along as we bring you the latest live news updates from Australia and beyond.
Sydney man charged with murder of 12-year-old boy fatally shot in face
Isaac Bechara is charged with murdering the boy in a Sydney apartment last month. He was 18 at the time of the attack.
Family of Franklin High student who fell to his death calls for security, accountability
The family of Xavier Nungaray-Martinez, a Franklin High student who died after a fall, demands the return of school police and stronger anti-bullying measures.
Most say Trump more interested in his wealth than helping people like them: Survey
Most Americans say President Trump is more interested in his own wealth than helping people similar to them, according to a new poll. An Associated Press-NORC Center for Public Affairs Research poll found that 56 percent of respondents described Trump’s overall prioritization of “his personal business interests” as “a lot” during his second term. Nineteen...
Man charged in Sydney after fatal shooting of child
Police have charged a man over the alleged fatal shooting of a boy in Sydney’s north-west.