20 July 2017

Industrials and Utilities

  • Cargo logistics network has gained critical importance for many Chinese enterprises. Photo: GLP

    Logistics seen as new lifeblood of China economy

    - Jul 20, 2017 12:23pm
    Oil has been long considered the lifeblood of the global economy. Nations have tried their best to protect oil shipping routes. But oil dependence has started to fall thanks to nuclear energy and technological advances in new...
  • Electric cars are seen at a parking lot of an automobile factory in Xingtai in Hebei province. Foreign automakers have complained against key elements of China's new energy vehicles policy. Photo: Reuters

    Foreign automakers urge China to ease electric car quotas

    Jul 14, 2017 9:03am
    Global automakers called on China to delay and soften planned quotas for sales of electric and hybrid cars, Reuters reports. In a letter to China’s Ministry of Industry and Information Technology, the automakers complained that Beijing’s current proposals...
  • Industrial activities and new home completions are key drivers of the profitability of Chinese gas distributors. Photo: China Daily

    China gas distributor prospects hinge on two things

    - Jul 13, 2017 8:58am
    Shares of natural gas distributors have gone up by about 30 percent on average in year to date. Amid this situation, there is this question: should investors continue to buy the stocks at current levels? China’s...
  • Orient Overseas Container Line, controlled by the family of former Hong Kong Chief Executive Tung Chee-hwa, is set to pass into the hands of a Chinese state-owned shipping giant. Photo: Bloomberg

    Cosco takeover of Orient Overseas fits a pattern

    - Jul 11, 2017 2:16pm
    Ending weeks of speculation about a mega shipping industry deal, China’s Cosco Shipping Holdings announced on Sunday that it has reached a HK$49.2 billion (US$6.3 billion) agreement to acquire Hong Kong-based Orient Overseas International. Under the...
  • Model 3, which is aimed at the mass market, is expected to help Tesla deliver five times its current annual sales volume. Photo: Tesla

    Tesla rolls out first Model 3 for CEO Elon Musk

    Jul 11, 2017 7:45am
    Tesla Inc. rolled out the first Model 3 unit from the assembly line, and it’s for chief executive Elon Musk, who tweeted pictures of the US$35,000 sedan. Tesla board member Ira Ehrenpreis was the first to...
  • Accelerating world demand and output cuts from OPEC will push oil prices to the US$60 mark by the year-end, according to a leading energy analyst. Photo: Bloomberg

    Oil prices projected to hit US$60 before year-end

    Jul 10, 2017 9:34am
    Oil prices could reach US$60 a barrel before the end of the year due to rising global demand and reduced supply from the Organization of the Petroleum Exporting Countries, according to a report. Barron’s, citing research from...
  • The deal would make COSCO Shipping the world's third largest container shipping line after Maersk and MSC. Photo: AFP

    COSCO Shipping offers US$6.3 billion for Orient Overseas

    Jul 10, 2017 9:02am
    COSCO Shipping Holdings Co. Ltd. (601919.CN) has offered to buy Orient Overseas International Ltd. (OOIL) (00316.HK) for HK$49.23 billion (US$6.30 billion), in a deal that will see the mainland China group become the world’s third largest...
  • Warren Buffett is betting that he can get the deal past Texas regulators after they blocked two earlier attempts to sell Oncor to other companies. Photo: Reuters

    Buffett nears deal for bankrupt energy giant

    Jul 7, 2017 8:35am
    The energy unit of Warren Buffett’s Berkshire Hathaway Inc. is nearing a deal to acquire Oncor Electric Delivery Company LLC, allowing the utility to exit a three-year bankruptcy, Reuters reports, citing people familiar with the matter....
  • Qatar Airways has put the blame for the cancellations squarely at the feet of Airbus. Photo: Reuters

    Airbus in US$1 bln dilemma as Qatar cancels four jets

    Jul 7, 2017 8:09am
    Qatar Airways has axed orders for four A350s because of delivery delays, handing the European planemaker a new headache over what to do with jets worth US$1.2 billion, Reuters reports. The cancellations came as Airbus struggles to...
  • Vovo Cars CEO Hakan Samuelsson has unveiled plans to fully move away from vehicles with traditional internal combustion engines. Photo: Bloomberg

    Volvo to fully switch to electric and hybrid cars from 2019

    Jul 6, 2017 12:53pm
    Volvo, which is owned by China’s Geely Holding Group, said on Wednesday that all new vehicles launched by the company from 2019 will be either fully electric or hybrid.  In a statement, the automaker’s CEO Hakan Samuelsson said...
  • The double-deckers could be 'parted out' to recover engines and other spares worth at least US$100 million per plane. Photo: Airbus

    Breaker’s yard beckons for Airbus A380 if new homes aren’t found

    Jul 4, 2017 8:44am
    Airbus SE’s A380 superjumbo faces the ignominy of being broken up for spare parts if second-hand operators for the oldest jets can’t be found in coming months, Bloomberg reports. The double-deckers could be “parted out” to...
  • The combined company will have roughly US$23 billion in annual revenue and offer oilfield gear for oil producers in 120 countries. Photo: Reuters

    GE closes Baker Hughes deal, becomes No. 2 oilfield service firm

    Jul 4, 2017 8:16am
    General Electric Co. has completed its buyout of Baker Hughes Inc., merging it with its own oil and gas equipment and services operations to create the world’s second-largest oilfield service provider by revenue, Reuters reports. The...
  • A prototype of the Tesla Model 3 is on display in front of the Tesla Gigafactory which will produce batteries for the electric carmaker. Photo: Reuters

    Tesla deliveries at low end of forecast as Model 3 looms

    Jul 4, 2017 7:56am
    Tesla Inc. said it delivered about 47,100 electric sedans and SUVs in the first half of 2017, at the lower end of its own forecasts, shortly after chief executive Elon Musk announced that production of its...
  • The US will urge G20 nations to take concrete actions to resolve problems plaguing the global steel industry, according to a White House advisor. Photo: Bloomberg

    Trump to demand stronger G20 action on steel overcapacity

    Jun 30, 2017 8:30am
    US President Donald Trump will demand action by the Group of 20 leaders to reduce excess capacity and other distortions in the global steel market, according to a top White House economic adviser. Trump will use the...
  • China’s logistics sector now accounts for a quarter of the US$9-trillion-a-year global industry. Photo: Reuters

    China’s Best Logistics files for New York IPO

    Jun 27, 2017 8:31am
    A Chinese logistics company backed by Alibaba Group Holding Ltd. has filed for an initial public offering in New York. Best Logistics Technologies Ltd., based in Alibaba’s hometown of Hangzhou, said on Monday it plans to...
  • Huge costs stemming from product recalls have led to air-bag maker Takata getting mired in financial woes in recent years. Photo: Bloomberg

    Japan’s Takata to file for bankruptcy: reports

    Jun 26, 2017 8:24am
    Takata Corporation, the Japanese air-bag maker that is at the center of the auto industry’s biggest ever product recall, decided on Monday to file for bankruptcy protection in Japan with liabilities of more than 1 trillion...
  • American Airlines CEO Doug Parker said the carrier is against companies that are "illegally subsidized by their governments". Photo: Bloomberg

    American Airlines pushes back on Qatar Airways plan to buy stake

    Jun 23, 2017 8:18am
    American Airlines’ chief executive said he is not “particularly excited” about Qatar Airways’ interest in buying up to 10 percent of the US carrier’s shares, Reuters reports. The move by state-owned Qatar Airways to expand its...
  • Tesla wants to build electric cars in China to avoid a 25 percent tariff on imported vehicles. Photo: AFP

    Tesla moves a step closer to building electric cars in China

    Jun 23, 2017 7:31am
    Tesla Inc. took a step closer toward establishing an electric vehicle manufacturing plant in China with its announcement that it is in exploratory talks with the Shanghai municipal government, Reuters reports. Tesla has said it wants...
  • Oil has slid 20 percent in the first half of 2017, a period when prices have tended to rise. It was the biggest first half slide for Brent since 1997. Photo: Reuters

    Oil drops to 10-month low amid rising US output

    Jun 22, 2017 8:36am
    Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing US production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut,...
  • Power utility CLP launches a promotional campaign for an energy saving scheme that will feature "smart" electricity meters. Photo: CLP

    Electricity pricing: Smart meters, dumb arguments

    - Jun 21, 2017 4:51pm
    When restaurants charge you more at dinner than at lunch, is that a form of “price discrimination”? Not necessarily. If the restaurant serves a full house every night, but sees only a few tables filled at...

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