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BRIEF-Companies announce IPO pricings for Shanghai, Shenzhen IPO  

June 2 (Reuters) - Cmpanies have announced pricing for their IPOs in Shanghai and Shenzhen. Please click the links for details. Shanghai * Shanghai Baosteel Packaging Co Ltd sets IPO price at 3.08 yuan ($0.4969) per share, aims to raise 641.67 million yuan * Nanjing Inform Storage Equipment Co Ltd sets IPO price at 12.43 yuan per share, aims to raise 310.75 million yuan

Ford to make 40,000 more vehicles by cutting summer downtime  

* Ford cutting week from shutdowns at six assembly plants * Ford launching new version of Sync 3 this summer * Sync 3 to go in Escape, Fiesta models DETROIT, June 2 (Reuters) - Ford Motor Co said it will produce nearly 40,000 additional vehicles by reducing summer shutdowns at its North American plants to one week from two. Six assembly plants and 10 plants that feed into them will be affected, it said on Tuesday....More

Italy - Factors to watch on June 2  

The following factors could affect Italian markets on Tuesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on . POLITICS...More

THAILAND PRESS-Car makers to pay higher taxes - Bangkok Post  

The automobile industry will face higher tax payments once the new excise tax bill is implemented, the Bangkok Post reported, citing Somchai Poolsawasdi, director-general of the Excise Department. ( ---- NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Bangkok Newsroom; Editing by Anupama Dwivedi)...More

UPDATE 1-Hyundai Motor shares tumble on weak sales, unfavourable forex rates  

* Shares down 9 pct to lowest in nearly five years * U.S. and China factory shipments fall in May (Recasts, adds sales data and analyst comment) By Hyunjoo Jin SEOUL, June 2 (Reuters) - Hyundai Motor Co shares slid 9 percent to their lowest levels in nearly five years on Tuesday, hit by lacklustre sales in the United States and China and as a weakening yen against the won rekindled worries about exports....More

GM Korea to expand engine output; move may appease unions a little  

SEOUL, June 2 (Reuters) - General Motors' South Korean unit plans to expand engine output which will allow for an additional production shift, the unit's union said - a move that may help ease labour tensions a little as the automaker seeks to reduce costs. GM says its labour costs have risen nearly 50 percent over the past five years in South Korea, undermining the competitiveness of its Korean operations but union activists in the past have threatened 'a war' if output is shifted from their plants....More

UPDATE 2-S.Korea reports first two deaths from MERS respiratory illness  

(Adds govt comment, Hyundai urges employees avoid Middle East) SEOUL, June 2 (Reuters) - South Korea on Tuesday reported the first two deaths from an outbreak of Middle East Respiratory Syndrome (MERS) that has affected 25 people in two weeks, as officials scrambled to contain the outbreak. A 58-year-old woman, who had contact with South Korea's first patient, died of acute respiratory failure on Monday, the Health Ministry said. A 71-year-old man who had been on respiratory support with a history of kidney ailments also died....More

Hyundai Motor asks employees to avoid Middle East due to MERS scare  

SEOUL, June 2 (Reuters) - South Korea's Hyundai Motor , the world's fifth-biggest automaker together with affiliate Kia Motors, has asked its employees to refrain from travelling to the Middle East over concerns about Middle East Respiratory Syndrome (MERS), a company spokesman said on Tuesday. South Korea on Tuesday reported the first two deaths from an outbreak of MERS that has affected 25 people in two weeks. (Reporting by Hyunjoo Jin; Editing by Richard Pullin)...More

PHILIPPINES PRESS-President Aquino approves auto program - The Standard  

President Benigno Aquino approved the Comprehensive Automotive Resurgence Strategy that will provide incentives to the local production of vehicles, the Standard reported, citing the Trade Department. The incentives package is expected to attract more than 27 billion pesos ($606 million) in new parts manufacturing investments, locally produce at least 600,000 vehicles and generate a total economic activity estimated to be worth 300 billion pesos over a six-year period. ( ----...More

Takata will change design for certain air bag inflators  

By Paul Lienert June 1 (Reuters) - Takata Corp said on Monday that it will continue producing air bags that use ammonium nitrate propellant, but will change the design of the driver-side air bag inflators. The Japanese supplier is at the center of a global recall of tens of millions of cars for potentially deadly air bag inflators that could deploy with too much force and spray metal fragments inside vehicles....More
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