UPDATED: 2/23/18 1:12 pm ET - adds details

Chief of China's Geely builds $9 billion stake in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German company said Friday. The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans.


Ford aims to set up German bank this year to offset Brexit risk

Ford hopes to set up a bank in Germany in the second half after applying for a license in the country as part of its strategy to mitigate any risk from the UK leaving the EU.

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