23 February 2018

Industrials and Utilities

  • Dara Khosrowshahi, who is on his first official visit to Asia since taking Uber’s reins last year, speaks with the media in New Delhi on Thursday. Photo: Reuters

    Uber to continue investing aggressively in SE Asia: CEO

    Feb 23, 2018 9:17am
    Uber Technologies plans to continue investing aggressively in Southeast Asia even though the ride-hailing company expects to lose money in the market for some time amid intense competition. “We expect to lose money in Southeast Asia...
  • Cobalt is a vital material for the lithium-ion rechargeable batteries that power Apple's mobile phones. Photo: Reuters

    Apple said to be in talks with miners to secure cobalt supplies

    Feb 22, 2018 9:01am
    Apple Inc. is talking to major cobalt producers to secure supplies of the material vital for the lithium-ion rechargeable batteries that power its mobile phones, Reuters reports, citing three cobalt industry sources. Apple declined to comment....
  • Russian magnate Oleg Deripaska is reported to be preparing to relinquish direct operational control of aluminum giant Rusal and energy firm En+. Photo: Reuters

    Russian tycoon Deripaska to quit roles at Rusal, En+: report

    Feb 20, 2018 9:32am
    Russian billionaire Oleg Deripaska plans to step down from his roles at aluminum giant Rusal and energy firm En+ Group, Reuters reports, citing sources familiar with the matter. Deripaska has decided to relinquish direct operational control...
  • Grab says it has a 95 percent share of the taxi-hailing market in Southeast Asia. Photo: Bloomberg

    Uber wants to sell Southeast Asia business to Grab: CNBC

    Feb 20, 2018 8:41am
      Ride-hailing giant Uber Technologies is preparing to sell its Southeast Asia business to Singapore-based Grab in exchange for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter. No deal...
  • US President Donald Trump holds a meeting on trade with members of Congress at the White House on Tuesday. Photo: Reuters

    Trump mulls tariffs, quotas on foreign steel, aluminum

    Feb 14, 2018 8:47am
    US President Donald Trump said on Tuesday that he is weighing a range of options, including tariffs and quotas, to address steel and aluminum imports that he said were unfairly hurting US producers.  During a meeting at...
  • A Google self-driving car navigates the streets of Washington, D.C. The "summit" seeks to identify “unnecessary regulatory barriers” to the rollout of autonomous cars in the United States. Photo: AFP

    US ‘summit’ set to remove roadblocks to autonomous cars

    Feb 12, 2018 9:18am
    The US Department of Transportation has called a conference on March 1 among auto manufacturers, technology companies, road safety advocates and policymakers to discuss measures to speed up the rollout of autonomous cars in the country, Reuters reports....
  • Former Uber CEO Travis Kalanick leaves a San Francisco court on Feb. 7 during a Waymo-Uber autonomous car secrets trial. The case came to an abrupt close following a settlement between the two firms. Photo: Reuters

    Uber settles Waymo lawsuit over self-driving car tech

    Feb 12, 2018 9:08am
    Uber Technologies will give equity stake worth US$245 million to Alphabet’s self-driving vehicle unit Waymo to settle a legal dispute over trade secrets, according to an announcement Friday.  “While we do not believe that any trade...
  • Following a heart attack in 2014, Samsung chairman Lee Kun-hee, 76, has remained hospitalized in Seoul’s Samsung Medical Center. Photo: Reuters

    Samsung chairman named suspect in US$7.5 mln tax evasion case

    Feb 8, 2018 3:21pm
    Samsung Electronics’ ailing chairman, Lee Kun-hee, was named by South Korean police on Thursday as a suspect in an 8.2 billion won (US$7.5 million) tax evasion case that involved the use of bank accounts held by...
  • Tesla’s long-term viability depends on annually selling billions of dollars worth of Model 3 units. Photo: AFP/Bloomberg

    Tesla posts worst-ever quarterly loss, maintains Model 3 target

    Feb 8, 2018 8:59am
    Tesla Inc. said it is sticking with chief executive Elon Musk’s revised production targets for its Model 3 electric sedan after posting its worst-ever quarterly loss, and warned that spending will increase slightly this year, Reuters...
  • Former Uber CEO Travis Kalanick agreed that Google is the industry leader for self-driving cars. Photo: Bloomberg

    Uber trailed in self-driving cars, Kalanick tells court

    Feb 7, 2018 9:20am
    Former Uber chief executive officer Travis Kalanick testified at trial that he believed Uber was lagging in self-driving car development and came up with a plan to hire a star engineer from rival Waymo to catch...
  • BNSF Railway, a unit of Warren Buffett’s conglomerate Berkshire Hathaway, said it will work with other members of a transport alliance to decide how data should be used in the freight transportation blockchain. Photo: Bloomberg

    Buffett’s BNSF railroad eyes blockchain for shipping freight

    Feb 6, 2018 9:10am
    BNSF Railway Co., a unit of Warren Buffett’s conglomerate Berkshire Hathaway Inc., said it has become the first major US railroad to join the Blockchain in Transport Alliance. The alliance is a group of more than...
  • The Seoul High Court jailed Jay Y. Lee for two and a half years, reducing the original term by half, and suspended the sentence for charges including bribery and embezzlement. Photo: AFP

    Samsung scion Lee walks free as S Korea court suspends jail term

    Feb 5, 2018 3:39pm
    A South Korean appeals court on Monday suspended a jail sentence handed down to Samsung Group heir Jay Y. Lee, setting him free after a year’s detention amid a corruption scandal that brought down the former...
  • A Chinese solar firm is planning to open a manufacturing facility in the US following the Trump administration's decision on tariffs on imported panels. Photo: Bloomberg

    China’s JinkoSolar announces plan to open US production facility

    Jan 30, 2018 9:26am
    Chinese solar manufacturer JinkoSolar Holding Co. has unveiled plans to open a plant in the United States, a week after US President Donald Trump imposed tariffs on imported solar panels. JinkoSolar said on Monday that its board...
  • Xiaopeng He, chairman of Xiaopeng Motors, stands with the company's newest sport-utility vehicle, the G3. Photo: Xiaopeng Motors

    Alibaba, Foxconn in US$350 mln funding round for EV maker Xpeng

    Jan 29, 2018 4:37pm
    Chinese electric-vehicle manufacturer Xiaopeng Motors is closing a 2.2 billion yuan (US$350 million) funding round led by Alibaba Group, Foxconn Technology Group and IDG Capital, according to an announcement Monday. Other investors include Yunfeng Capital, China...
  • Tesla expects to reach its goal of making about 5,000 Model 3 units per week by the end of the second quarter. Photo: Bloomberg

    Tesla vows no more delays, quality issues for Model 3

    Jan 26, 2018 8:29am
    Tesla Inc. says it is on track to achieve its production targets for the Model 3, squashing a report of further delays and quality issues for its latest and most affordable sedan. “To be absolutely clear,...
  • General Electric is struggling to reverse steep declines in some of its units and looking to sell off US$20 billion of assets. Photo: AFP

    GE faces regulatory probe after posting US$10 billion loss

    Jan 25, 2018 9:19am
    US securities regulators are probing a massive insurance charge recently announced by General Electric Co., the latest blow to the nation’s largest industrial conglomerate as it struggles to reverse steep declines in some of its units...
  • Mohammed bin Salman, the 32-year-old Saudi Crown Prince, needs US support as he seeks to consolidate his power and push forward his economic and social vision for the country. Photo: Bloomberg

    The fall of Islamic extremism; the rise of Aramco

    - Jan 24, 2018 1:16pm
    Nobel Prize-winning economist Robert Shiller, based on his work on “Narrative Economics”, which studied the effects that narratives and stories can have on the global economy, picks Donald Trump’s election victory in the US and the...
  • Tesla CEO Elon Musk could earn as much as US$55.8 billion in company stock and own more than a quarter of the electric car firm in the next decade if he hits all the targets in a new pay plan. Photo: Bloomberg

    Tesla plans massive stock rewards for Musk

    Jan 24, 2018 8:49am
    Tesla Inc.’s chief executive officer Elon Musk could earn as much as US$55.8 billion in company stock and own more than a quarter of the electric car firm in the next decade if he hits all...
  • Noble Group said it remains in talks with potential strategic parties and its creditors. Photo: Reuters

    Chinese group interested in buying Noble: Bloomberg

    Jan 23, 2018 9:38am
    A Chinese conglomerate has expressed interest in buying control of the troubled commodity trader Noble Group, Bloomberg reports, citing people familiar with the matter. Cedar Holdings Group, the largest private company in Guangzhou province, has reportedly...
  • General Electric is re-evaluating its strategy and structure, and may split its major divisions into separately traded units. Photo: Reuters

    GE considering breakup as financial troubles worsen

    Jan 17, 2018 9:41am
    General Electric Co. is considering breaking itself up after a sharp shortfall in profits last year, the Wall Street Journal reports, citing chief executive John Flannery. Flannery said the Boston-based group is re-evaluating its strategy and...

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