21 November 2017

Industrials and Utilities

  • Dubai’s government wants a guarantee from Airbus that it would keep producing the A380 for 10 years. Photo: Reuters

    Airbus faces hurdles over stalled A380 Emirates deal

    Nov 20, 2017 7:50am
    A preliminary deal to sell 36 A380s to Emirates blew up in an Airbus hospitality chalet moments before the Gulf carrier was expected to shower US$30 billion on the planemaker and its US rival Boeing at...
  • GM chief executive Mary Barra said the automaker aims to be selling 1 million electric vehicles a year by 2026. Photo: Bloomberg

    GM challenges Tesla with promise of profitable electric cars

    Nov 16, 2017 8:21am
    General Motors Co. plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the US No. 1 automaker, chief executive Mary Barra told investors...
  • Companies with a large portfolio of fossil fuels, like coal, will soon face severe uncertainty related to stranded assets. Photo: Bloomberg

    The greening of the miners

    - Nov 14, 2017 9:37am
    Donald Trump’s presidency in the United States has turned mining – and the coal industry in particular – into a political cause célèbre over the last year. In June, during his first White House cabinet meeting,...
  • General Electric CEO John Flannery presents the company's new strategy and financial targets to investors at a meeting in New York on Monday. Photo: Reuters

    GE chief outlines steps to shrink firm into 3 core businesses

    Nov 14, 2017 9:19am
    General Electric Co.’s new chief executive, John Flannery, on Monday outlined steps that will turn the giant industrial conglomerate into a smaller, more focused company. Flannery said he will pare GE down to three core businesses: power,...
  • Liu Zhongtian's Zhongwang USA canceled its plan to acquire Aleris after the US Committee on Foreign Investment in the United States did not approve it on national security grounds. Photo: Bloomberg/Reuters

    Aleris, Zhongwang USA scrap merger after regulatory snag

    Nov 14, 2017 9:11am
    Zhongwang USA, an investment firm backed by Chinese tycoon Liu Zhongtian, has called off its planned acquisition of US aluminum maker Aleris Corp. after failing to win US government approval, Reuters reports. The companies said the US$2.33...
  • Tesla's factory floor in California is a hotbed for racist behavior, a black worker alleged in a new lawsuit. Photo: Reuters

    Tesla accused of racial discrimination in class-action suit

    Nov 14, 2017 8:44am
    US automaker Tesla has been hit with a class-action lawsuit that alleges that the firm’s production plant in Fremont, California is a “hotbed for racist behavior”, Reuters reports. In the lawsuit filed on Monday, a former...
  • Lyft is on pace for US$1.5 billion in net revenue -- the amount of money it generates after paying drivers -- on losses of US$400 million. Photo: Bloomberg

    Lyft gaining ground in US market

    Nov 13, 2017 9:12am
    Lyft Inc. has gained significant ground on its rival, Uber Technologies Inc., and is expected to grab more market share in the U.S., Bloomberg reports, citing a private Lyft investor document. A major investor is projecting...
  • A low share price and small weighting puts GE at an increased risk of getting removed from the 30-stock blue-chip Dow index. Photo: Bloomberg

    GE seen at risk of losing its Dow spot as share price falls

    Nov 13, 2017 9:12am
    General Electric Co. faces the risk of losing its membership of the elite 30-stock Dow Jones Industrial Average, given its dwindling share price and the likelihood that its new chief executive will dramatically slim down its sprawling...
  • Nio counts Tencent as its main backer alongside investment firms Hillhouse Capital Group and Sequoia Capital. Photo: Reuters

    China electric car startup Nio raises over US$1 bln

    Nov 10, 2017 8:34am
    Chinese electric vehicle startup Nio has raised more than US$1 billion in its latest fundraising round, led by existing investor Tencent Holdings Ltd, valuing the firm at about US$5 billion, Reuters reports, citing two people with...
  • Waymo unveils a self-driving Chrysler Pacifica minivan during the North American International Auto Show in Detroit on January 8, 2017. Photo: Reuters

    Google affiliate Waymo tests driverless taxi service

    Nov 8, 2017 8:20am
    Waymo, the self-driving car unit of Google’s parent Alphabet Inc., will launch a ride-hailing service with no human behind the steering wheel, Reuters reports, citing the firm’s CEO John Krafcik. The company has been testing the...
  • Qatar Airline and rivals Emirates Airline and Etihad Airways are aggressively expanding their presence in Asia Pacific. Photo: YouTube

    Will Qatar Airways, Cathay and Air China form an alliance?

    - Nov 8, 2017 8:00am
    Kingboard Chemical (00148.HK) said Monday that it would sell its entire 9.61 percent stake in Cathay Pacific Airways to Qatar Airways. The state-owned Middle Eastern carrier will become the third largest shareholder of Cathay Pacific. Kingboard...
  • Paul Cheung's Kingboard has agreed to sell its entire 9.61 percent stake in Cathay Pacific  to Qatar Airways for HK$5.16 billion. Photos: HKEJ, AFP, Reuters

    Kingboard jumps out of Cathay flight

    - Nov 6, 2017 2:39pm
    Paul Cheung Kwok-wing, chairman and founder of Kingboard Chemical Holdings Ltd. (00148.HK), had thought he had booked a good flight on Cathay Pacific Airways Ltd. (00293.HK), but the take-off proved a long wait for him so...
  • There was a time when Cathay Pacific was Hong Kong’s airline and we supported the home side. Photo: HKEJ

    Catharsis Pacific

    - Nov 2, 2017 5:34pm
    It is probably as unsportsmanlike as shooting animals in a game reserve but Cathay Pacific, like HSBC, Hong Kong’s other Aunt Sally icon, has an uncanny knack of inviting destructive criticism, an invitation I find irresistible....
  • Honda displays Gold Wing during a media preview at the 45th Tokyo Motor Show in Japan on October 25. The new model with come equipped with Apple CarPlay. Photo: Reuters

    Honda to launch first motorcycle with Apple CarPlay

    - Nov 2, 2017 12:25pm
    Honda Motor Co. is preparing to launch next year the world’s first motorcycle that will come equipped with Apple’s CarPlay entertainment system. The Japanese vehicle manufacturer revealed last week that its new 2018 Gold Wing bike...
  • Lu Guanqiu (third from left ) reportedly bought a Tesla Model S in 2014, and was so impressed and decided to build one himself. Photo:

    How legendary business pioneer Lu Guanqiu blazed his own trail

    - Oct 30, 2017 8:38am
    Lu Guanqiu, one of China’s most successful business pioneers, died at age 72 Wednesday. The billionaire chairman of Wanxiang Group emerged during the post-Mao era and was described as an iconic first-generation mainland entrepreneur by Xinhua...
  • Tesla is facing a capacity bottleneck as it fails to build its Model 3 quick enough to meet mounting orders. Photo: Telsa

    Tesla could create a catfish effect in China auto sector

    - Oct 27, 2017 10:00am
    China will open its door wider rather than closing it since opening-up will bring advancement, Chinese President Xi Jinping said in his speech delivered during the 19th Party Congress. Does Xi really mean what he said?...
  • Delphi and nuTonomy have been testing automated vehicles in Singapore. Photo: Reuters

    Delphi to buy self-driving tech startup nuTonomy for US$450 mln

    Oct 25, 2017 9:30am
    Delphi Automotive Plc said it will buy self-driving car software startup nuTonomy for US$450 million, helping to put automated vehicles using its technology into commercial use in 2019, a year earlier than planned, Reuters reports. Delphi...
  • Singapore is cutting the annual growth rate for cars and motorcycles to zero from 0.25 percent  because of the "limited scope for further expansion of the road network". Photo: Bloomberg

    Singapore to stop increasing number of cars in February

    Oct 24, 2017 10:32am
    Singapore will stop increasing the total number of cars on its roads next year, Bloomberg reports, citing the city state’s transport regulator. The government will cut the annual growth rate for cars and motorcycles to zero...
  • Noble is slashing jobs and selling assets to reduce its debt and win support from its lenders. Photo: Reuters

    Noble to sell oil liquids business to Vitol, flags big 3Q loss

    Oct 23, 2017 10:19am
    Struggling commodities trader Noble Group agreed to sell its Americas-focused oil liquids business to Vitol for about US$580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter, Reuters...
  • Tesla will be able enjoy lower production costs in China even after paying duties on imported components. Photo: Bloomberg

    Tesla confirms talks to build car plant in Shanghai

    Oct 23, 2017 8:39am
    Tesla reaffirmed on Sunday that it is in discussions with the Shanghai municipal government to set up an electric-car factory in the region. The US-based company said it expects to agree on a plan by the...

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