Ford recalls 409 vehicles in Chinese mainland
U.S. automaker Ford Motor Company will recall 409 vehicles in the Chinese mainland as part of a worldwide recall due to a fuel tank defect, China's consumer quality watchdog said on Wednesday.The recall will start from July 15. It will include imported Ford Explorer vehicles produced between Jan. 31, 2012 and Jan. 10, 2013, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement.A fuel delivery module in the fuel tank may crack and leak after long-term use, possibly resulting in a fire in the presence of an ignition source, the statement said. Authorized Ford dealers in China will contact relevant consumers and replace the faulty parts, the statement said.
Wanda Expands Global Footprint with UK Plans
Chinese conglomerate Dalian Wanda Group is to invest more than 1 billion pounds ($1.6 billion) to buy a British yacht maker and to build a top-end hotel in central London, in a bid to expand its overseas presence. The company said on Wednesday that it will pay about 320 million pounds to acquire a 91.81 percent stake in Sunseeker International Ltd , a Dorset-based luxury yacht manufacturer which is famous for providing yachts for James Bond movies.The remaining 8.19 percent stake will be acquired by Sunseeker's management team. The deal is expected to be completed by mid-August. Wanda Group also said it will invest 700 million pounds to build a five-star, 160-room hotel on the South Bank overlooking the Thames River.