Date
26 May 2017

Industrials and Utilities

  • The Chinese planemaker has commitments from 23 customers for about 570 of the C919, which took its maiden flight on May 5. Photo: Bloomberg

    AirAsia to consider flying Chinese-made C919

    May 26, 2017 3:43pm
    AirAsiaBhd., the low-cost carrier that flies only Airbus SE planes, would consider using newly developed aircraft such as the Chinese-made C919 as the airline expands its fleet and destinations, Bloomberg reports. “I think as an airline...
  • Energy ministers from OPEC hold talks with counterparts from other oil producing nations on production targets, at a gathering in Vienna on Thursday. Photo: Reuters

    OPEC extends oil output curbs but glut fears persist

    May 26, 2017 8:56am
    The Organization of the Petroleum Exporting Countries (OPEC) renewed an agreement with 10 other crude-oil producers to withhold output through March 2018, a move aimed at putting a floor under the price of oil. The pact,...
  • ChemChina is restructuring the financing mix for Syngenta to reduce its debt burden by including more equity. Photo: Reuters

    ChemChina raises US$20 bln for Syngenta deal

    May 26, 2017 8:12am
    ChemChina has raised US$20 billion mainly in perpetual bonds to finance its purchase of Swiss seeds firm Syngenta, with Bank of China becoming the single largest investor providing half of that funding, Reuters reports, citing a...
  • 'Secret Code of HNA' offers an interesting account on the background and management of the Chinese business conglomerate. Photo: Sohu

    HNA reveals its success secrets in new book

    - May 24, 2017 11:40am
    Chinese conglomerate HNA Group has been getting a lot of media attention recently. After spending HK$27.2 billion to acquire four land plots in Kowloon, the group is said to be in talks to acquire stake in...
  • Uber has acknowledged for the second time in three months that some of its drivers had been deprived of their proper share of earnings. Photo: Bloomberg

    Uber admits to shortchanging NY drivers by millions of dollars

    May 24, 2017 8:46am
    Uber Technologies on Tuesday admitted to underpaying its New York City drivers for the past two-and-a-half years by taking a larger share of the fares than it was entitled to. The ride-hailing giant said it will...
  • Warren Buffet's Berkshire Hathaway could drop out of Top 10 list of the world's most valuable firms, according to a market observer. Elon Musk's Tesla is seen as a dark-horse entry if the automaker merges with Uber. Photo: Bloomberg

    Berkshire out: My prediction on Top 10 firms in 2022

    - May 23, 2017 4:46pm
    “The World’s Most Valuable Companies” rankings are not pointless exercises, as I can attest that such lists actually help us in our investment decisions. Recently I made a prediction on the likely top 10 firms in terms...
  • Ford's newly-appointed CEO James Hackett speaks at a news conference at the automaker's headquarters in Dearborn, Michigan, on Monday. Photo: Reuters

    Ford names new CEO amid management shake-up

    May 23, 2017 8:39am
    Ford Motor Co. on Monday named James Hackett, the head of its driverless car division, as its new chief executive amid a wide-ranging reshuffle of the automaker’s top management. He replaces Mark Fields, who was dismissed...
  • Named after the city where Batman fights crime, Gotham City Research said AAC Technologies may be using entities to dump some of its costs. Photo: Warner Bros

    Dark night for AAC as Gotham casts doubts on its profitability

    - May 22, 2017 12:46pm
    Shares of AAC Technologies Inc. (02018.HK), one of the major suppliers of acoustic components to Apple Inc., sank the most in seven years after short-seller Gotham City Research raised questions about the firm’s accounting. The stock...
  • Cathay Pacific says about 90 management and 400 non-managerial jobs will be cut in the restructuring. Photo: Bloomberg

    Cathay to slash 600 jobs in head office

    May 22, 2017 10:12am
    Cathay Pacific said it will lay off 600 people in its head office as part of a “transformation program” to achieve efficiencies for Cathay Pacific and Cathay Dragon Air. The changes will affect senior, middle management and...
  • Chen Feng (inset, left) turned a tiny airline into a global behemoth. The low-key tycoon is now in the media glare thanks to his son's high-flying lifestyle and recent revelations of his ties with top party cadres. Photos: Weibo, liuqianlv, HNA

    The ties that bind: HNA’s Chen Feng and his rise to power

    - May 22, 2017 10:03am
    HNA Group, parent of the Chinese carrier Hainan Airlines, had kept a low profile until the end of last year, when the conglomerate must have realized that given its size and sway, media scrutiny was a...
  • Boeing Co.'s announcement is the latest in business deals worth tens of billions of dollars signed between US and Saudi companies. Photo: Reuters

    Boeing signs defense, commercial deals with Saudi Arabia

    May 22, 2017 8:06am
    Boeing Co. has signed several defense and commercial deals with Saudi Arabia including for the sale of military and passenger aircraft, Reuters reports, citing the company. The deals come during a visit by US President Donald...
  • Toyota is among the automakers that have reached a deal in the US to settle claims over defective Takata air-bags. Photo: Bloomberg

    Four automakers settle Takata air-bag claims for US$553 mln

    May 19, 2017 8:54am
    Four automakers, including Toyota Motor Corp., agreed to pay a collective US$553 million to settle claims stemming from rupture-prone Takata air bags, the Wall Street Journal reports  Toyota, along with Subaru, Mazda and BMW, reached the...
  • The Murray Road Multi-story Carpark (inset) and other high-volume car paks will be demolished to make way for more high-yielding commercial premises. Meanwhile, car growth is outsripping car park supply. Photos: HKEJ

    The economics of parking cars in Hong Kong

    - May 16, 2017 3:03pm
    Just like the housing issue, the shortage of carparks in Hong Kong is more acute that it has ever been. Transport Department data says it all. The number of licensed private cars surged 45 percent to...
  • Noble issued a profit warning on Tuesday and reported a loss of US$129.3 million for January-March versus a profit of $40.5 million a year ago. Photo: Reuters

    Noble’s Elman stepping down as shares drop record 33%

    May 12, 2017 8:42am
    Noble Group Ltd. reported a quarterly loss that pummeled its shares by a record 33 percent, stoking worries the Singapore-listed commodity trader was failing to recover from a crisis-wracked two years despite a deep restructuring, Reuters...
  • China aims to reduce the share of power generated by coal-fired plants to below 40 percent by 2030, from the current level of over 70 percent. Photo: Reuters

    China power sector reform: The challenges ahead

    - May 11, 2017 9:53am
    A report that China will soon unveil a plan to restructure the state-run power sector led to a surge in related shares Wednesday. Beijing intends to create three energy giants through mergers of eight companies, Bloomberg...
  • China's C919 passenger jet takes off from the Pudong International Airport in Shanghai on its maiden flight on Friday. Photo: Reuters

    What C919 means to China jet industry and domestic airlines

    - May 5, 2017 4:54pm
    Following the maiden flight of C919, China’s first home-built passenger jet, in Shanghai on Friday, the nation is en route to become a major player in the global aviation market. But it will take years to...
  • The C919 jet underscores China's ambitions in the global commercial aviation market. Photo: Reuters

    China’s first big passenger jet set for maiden flight

    May 5, 2017 8:56am
    China’s first big commercial jetliner is expected to launch its maiden test flight on Friday, marking a technology milestone for the country and heralding a potential new player in the global aviation market. The C919 jet,...
  • A prototype of the Tesla Model 3 is on display outside a factory. The company says the car is on track to begin production. Photo: Reuters

    Tesla assures Model 3 on track as cash burn continues

    May 4, 2017 8:31am
    Tesla Inc. assured investors its highly anticipated Model 3 sedan is on track to begin production, mitigating concerns that the carmaker led by Elon Musk is burning through more cash to bring the vehicle to market,...
  • Environment Minister Wong Kam-sing says the new power deal strikes a balance between reliable electricity supply, affordability and sustainability. Photo: HKEJ

    New power deal: What it does to market competition

    - May 2, 2017 4:08pm
    The Hong Kong government announced a new 15-year regulatory framework with the two power companies last week. Under the revised agreement, the amount the two suppliers are allowed to earn will be cut from 9.99 percent...
  • Chinese ride-hailing giant Didi Chuxing is reportedly now being valued at more than US$50 billion. Photo: Bloomberg

    Didi said to seek new funding at over US$50 bln valuation

    Apr 28, 2017 8:51am
    Ride-hailing services firm Didi Chuxing has embarked on a new fund-raising round that would value the firm at more than US$50 billion, making it China’s second-most valuable privately owned company, according to Reuters. Didi is seeking...

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