Date
15 December 2018

Industrials and Utilities

  • China's industrial output rose 5.4 percent year-on-year in November, the slowest in nearly three years as the economy lost further momentum. Photo: AFP

    China consumers, factories feel deepening economic gloom

    Dec 14, 2018 1:16pm
    China’s November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as the economy lost further momentum, heaping pressure on Beijing to defuse its trade dispute...
  • Ousted Nissan Motor chairman Carlos Ghosn is accused of conspiring to understate his compensation by about half of the actual 10 billion yen (US$88 million) over five years from 2010. Photo: Bloomberg

    Ghosn charged with financial misconduct, Nissan also indicted

    Dec 10, 2018 5:02pm
    Tokyo prosecutors officially charged ousted Nissan Motor chairman Carlos Ghosn for under-reporting his income and extended his detention on suspicion of additional financial misconduct, Reuters reports.  The prosecutors also indicted Nissan for filing false financial statements,...
  • Ride-hailing services giant Uber is said to be keen to beat smaller rival Lyft in launching an IPO. Photo: Reuters

    Uber makes confidential filing for IPO: report

    Dec 10, 2018 9:13am
    Uber Technologies has filed paperwork for an initial public offering, Reuters reports, citing people with knowledge of the matter. The ride-hailing company filed the confidential paperwork on Thursday, moving in lock-step with its smaller US rival...
  • Cathay Pacific management and unions agreed at the pay hike and bonus after nine days of negotiations. Photo: AFP

    Cathay Pacific employees win pay hike and 13th-month bonus

    Dec 7, 2018 3:49pm
    Cathay Pacific Airways employees in Hong Kong will receive a pay increase of at least 3 percent next year plus a 13th-month bonus. The airline’s management and unions came to the agreement after nine days of negotiations,...
  • Lyft was last valued at about US$15 billion in a private fundraising round in June this year.
Lyft, which was last valued at about US$15 billion in a private fundraising round, could go public as early as the first quarter of 2019. Photo: Bloomberg

    Ride-hailing services firm Lyft files for US IPO

    Dec 7, 2018 9:24am
    Ride-hailing services company Lyft has filed plans for an initial public offering in the United States, beating bigger rival Uber Technologies in making a move on that front. In a confidential filing with the US Securities...
  • Go-Jek president Andre Soelistyo said the ride-hailing firm will initially give promotions, but "it shouldn’t only be pricing that differentiates our services". Photo: Bloomberg

    Go-Jek starts trial launch in Singapore, challenges Grab

    Nov 29, 2018 4:56pm
    Indonesian ride-hailing firm Go-Jek kicked off a trial launch in parts of Singapore on Thursday, challenging dominant player Grab in the city-state, Reuters reports. Both Go-Jek and Grab are raising billions of dollars and investing aggressively...
  • Newly manufactured cars at Dalian port in Liaoning province. China exported 53,300 vehicles to the US market last year and imported 280,208 US manufactured vehicles. Photo: Reuters

    US threatens to raise tariffs on Chinese vehicles

    Nov 29, 2018 12:08pm
    US Trade Representative Robert Lighthizer said he is examining all available tools to raise US tariffs on Chinese vehicles to the 40 percent duties that China is now charging on US-produced vehicles, Reuters reports. Lighthizer said on Wednesday...
  • Amazon’s AWS DeepRacer cars line a table at the MGM Grand Garden Arena in Las Vegas on Wednesday. Photo: Reuters

    Amazon unveils self-driving toy car for coders

    Nov 29, 2018 9:15am
    Amazon.com Inc.’s cloud unit announced a US$399 autonomous toy car, aimed at helping web developers try out some of their own self-driving technology, Reuters reports. Customers can train and tweak machine learning models in an online...
  • China’s Ministry of Transport said Didi has violated multiple safety rules, presenting a “major safety hazard”, including failing to properly flag high-risk drivers and improperly handling deposits. Photo: AFP

    Chinese authorities slam Didi for skirting safety measures

    Nov 28, 2018 2:04pm
    Chinese authorities announced a broad crackdown on China’s ride-hailing industry on Wednesday, targeting market-leader Didi Chuxing with fines following the deaths of two passengers in separate incidents earlier this year, Reuters reports. China’s Ministry of Transport...
  • Tesla, which imports all the cars it sells in China, said tariff hikes on auto imports were hammering its sales in the country. Photo: Reuters

    Tesla China sales dive 70% in October, says auto industry body

    Nov 27, 2018 3:34pm
    Tesla Inc.’s vehicle sales in China sank 70 percent in October from a year ago, the country’s passenger car association told Reuters on Tuesday, underscoring how the Sino-US trade war is hurting the US electric carmaker. An...
  • General Motors CEO Mary Barra said the measures are necessary to keep the company strong as it plows money into new technology and new businesses such as robo-taxi services. Photo: Reuters

    GM to slash jobs and production, drawing Trump’s ire

    Nov 27, 2018 8:42am
    General Motors Co. said it will cut production of slow-selling models and slash its North American workforce because of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles, Reuters reports....
  • United Technologies Corp. has been under pressure from activist investors to split the sprawling jet engine-to-air conditioner group. Photo: Reuters

    United Technologies to split into three companies

    Nov 27, 2018 8:27am
    United Technologies Corp. said it will separate into three companies consisting of its aerospace unit, Otis elevators division and its Carrier air-conditioning business, Reuters reports. The company has been under pressure from activist investors to split...
  • CNPC is said to be ready to take over Total's stake in the project, which the French company has abandoned because of US sanctions on Iran. Photo: Reuters

    Iran: China’s CNPC replacing France’s Total in gas project

    Nov 26, 2018 9:23am
    China’s state-owned China National Petroleum Corp. (CNPC) has replaced France’s Total in Iran’s multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday. “China’s CNPC has...
  • HNA Group is said to have turned to a state-owned bad debt manager as it seeks to offload more assets in order to cut its debt. Photo: Bloomberg

    HNA Group in talks with Cinda over asset disposals: report

    Nov 23, 2018 9:37am
    China’s HNA Group has turned to state-owned bad debt manager Cinda Asset Management for advice on asset disposals, Reuters reports, citing people with knowledge of the matter. HNA Group’s vice president, Dennis Chen, the nephew of...
  • Carlos Ghosn has been arrested on allegations of financial misconduct. Photo: Bloomberg

    Nissan ends Ghosn’s two-decade reign

    Nov 23, 2018 9:15am
    Nissan’s board voted unanimously to oust chairman Carlos Ghosn over allegations of financial misconduct, after French partner Renault backed away from a last-minute demand to postpone the decision on their alliance leader’s fate, Reuters reports. The...
  • Tesla says it is absorbing 'a significant part' of new tariffs in a bid to make its cars more affordable for Chinese customers. Photo: Reuters

    Tesla cuts China car prices to absorb hit from trade war tariffs

    Nov 22, 2018 4:33pm
    Tesla is cutting the price of its Model X and Model S cars in China, a move that will see the American electric carmaker take more of a hit from tariffs linked to the Sino-US trade...
  • Germany's BMW is the first global automaker to obtain a ride-hailing license in China. Photo: AFP

    BMW to offer ride hailing services in China from December

    Nov 22, 2018 9:14am
    Germany’s BMW plans to launch ride-hailing services in China in December, the first global automaker to obtain such a license in the fast-growing market, Reuters reports. BMW Mobility Service Ltd., a fully-owned subsidiary of the BMW...
  • Carlos Ghosn has been accused of financial wrongdoing, including personal use of Nissan money and under-reporting his pay package. Photo: Reuters

    Nissan chairman Ghosn arrested over financial misconduct claims

    Nov 20, 2018 8:50am
    Nissan Motor Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, Reuters reports, citing the Japanese carmaker. An internal investigation, triggered by a tip-off from...
  • Tesla has opened the order books in China for the Model 3 sedan. Photo: Reuters

    Tesla starts taking Model 3 orders in China

    Nov 19, 2018 9:02am
    Tesla has started taking orders for its Model 3 sedan in China for a deposit of 8,000 yuan (US$1,153), Reuters reports, citing information posted on the electric carmaker’s China website. Chief Executive Officer Elon Musk said,...
  • Tesla has acquired trucking capacity to ensure Model 3 can be delivered in the United States by the end of the year if ordered by Nov. 30, CEO Elon Musk said. Photo: Reuters

    Tesla vows to deliver new Model 3 orders by year-end

    Nov 16, 2018 9:15am
    Tesla Inc. chief executive Elon Musk said Model 3s ordered in the United States by the end of this month will be delivered by Dec. 31, Reuters reports. “Tesla just acquired trucking capacity to ensure Model...

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