28 January 2020

Industrials and Utilities

  • Tesla is worth more than Ford Motor and General Motors put together.  Photo: Reuters

    Tesla market value tops US$100 billion

    Jan 23, 2020 11:15am
    Tesla became the first publicly listed US automaker to cross US$100 billion in market valuation following a strong rally in shares of the electric carmaker over the past three months. On Wednesday, Tesla closed at US$569.56...
  • Commuters wearing masks queue at the Wuchang Railway Station in Wuhan on Wednesday. Photo: AFP

    Cathay to let crew wear masks on all flights due to Wuhan virus

    Jan 23, 2020 9:40am
    Cathay Pacific Airways (00293.HK) will allow all crew members and frontline employees to wear surgical masks due to concerns over a new coronavirus, and said passengers to and from Wuhan, China, could change or cancel flights for...
  • US President Donald Trump talks to the media as he leaves the World Economic Forum (WEF) event in Davos, Switzerland, on Wednesday. Photo: Reuters

    Trump threatens big tariffs on car imports from EU

    Jan 23, 2020 9:04am
    US President Donald Trump on Wednesday threatened to impose high tariffs on imports of cars from the European Union if the bloc doesn’t agree to a trade deal, Reuters reports. “I met with the new head...
  • Boeing has been updating the 737 MAX flight control system and software to address issues linked to two crashes last year. Photo: Reuters

    Boeing warns of new 737 MAX delay

    Jan 22, 2020 9:16am
    Boeing Co. said it does not expect to win approval for the return of the 737 MAX to service until mid-year due to further potential developments in the certification process and regulatory scrutiny on its flight...
  • Toyota's latest recall over an airbag issue includes 2.9 million US vehicles. Photo: Bloomberg

    Toyota to recall 3.4 mln vehicles worldwide over airbag issue

    Jan 22, 2020 9:16am
    Toyota Motor announced on Tuesday that it will recall 3.4 million vehicles worldwide because of an electronic defect that can result in air bags not deploying in crashes, Reuters reports. The recall, which includes 2.9 million...
  • Uber Eats in India is directing restaurants, delivery partners and users to the Zomato platform following an acquisition deal by the latter. Photo: Bloomberg

    Uber sells Indian food delivery arm to local rival Zomato

    Jan 21, 2020 3:36pm
    Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99 percent stake in the latter, which is backed by China’s Ant Financial, Reuters reports. The all-stock deal is...
  • Malaysia Airlines is said to have drawn interest from at least two major foreign carriers for potential stake acquisition. Photo: Reuters

    Air France-KLM seeks to buy 49% of Malaysia Airlines: report

    Jan 21, 2020 3:23pm
    Air France-KLM has submitted a proposal to acquire 49 percent stake in Malaysia Airlines, while Japan Airlines is looking at buying 25 percent, according to Reuters. Malaysia-based AirAsia Group and Malindo Air, the Malaysian arm of...
  • The #MeToo movement has revealed the growing financial, reputational, and operational risks facing companies that fail to address issues of workplace discrimination, sexual harassment, or misconduct. Photo: Reuters

    Walking the talk of stakeholder capitalism

    - Jan 21, 2020 1:16pm
    The role of corporate boards has never been more important, nor subject to as much scrutiny, as it is today. The technological, environmental, geopolitical, and socioeconomic transformations of the past two decades are driving a re-examination...
  • A pro-Tesla poster is seen during an action to support plans by the US electric vehicle pioneer to build its first European factory and design center in Gruenheide near Berlin on Saturday. Photo: Reuters

    Tesla moves a step closer to opening first European factory

    Jan 20, 2020 12:15pm
    Tesla has agreed to buy a property on the outskirts of Berlin, bringing it a step closer to opening its first European factory, Reuters reports, citing local authorities in Germany. The US electric carmaker last November...
  • China has set a target of reducing solid waste imports to zero by the end of 2020 but scrap metal meeting the new standards will be classed as a resource rather than waste. Photo: Bloomberg

    China unveils new standards for copper and aluminum scrap

    Jan 20, 2020 9:27am
    China’s market regulator published new standards for high-grade copper scrap and aluminum scrap metal on Sunday, shedding some light on what material will be allowed into the country from the second half of this year, Reuters...
  • The South Korean state bet on several family-based conglomerates, known as chaebol, to develop the country’s automotive industry. Photo: Bloomberg

    How developing countries create industrial champions

    For many firms in emerging and developing economies, emulating the success of the likes of Samsung and Hyundai may seem like an impossible dream. But the rapid economic growth of Japan, South Korea, and other Asian...
  • Junichiro Hironaka, lead lawyer of ousted Nissan chairman Carlos Ghosn, said everyone involved in the case at his practice has resigned. Photo: Reuters

    Ghosn’s Japanese lawyers quit

    Jan 16, 2020 1:42pm
    Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chief’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges, Reuters reports. In an emailed...
  • The railway project will link Xining, capital city of northwestern Qinghai province, and Chengdu, capital city of southwestern Sichuan province. Photo: Xinhua

    China approves US$11.8 billion Xining-Chengdu railway project

    Jan 16, 2020 11:31am
    China’s state planner said on Thursday it has approved a railway project with a total investment of 81.49 billion yuan ($11.84 billion), Reuters reports. The railway project will link Xining, capital city of northwestern Qinghai province,...
  • China has agreed to ramp up purchases of hundreds of US products, including two of the 17 rare earths commonly used in lighting and computers. Photo: Bloomberg

    China to buy rare earths from US as part of trade pact

    Jan 16, 2020 7:59am
    China has agreed to buy two types of rare earth metals from the United States as part of an initial trade deal inked on Wednesday, Reuters reports. The agreement, signed in Washington by Chinese Vice Premier...
  • Hyundai Motor unveils its Genesis GV80 sport-utility vehicle in Goyang, South Korea, on Wednesday. Photo: Reuters

    Hyundai unveils first Genesis SUV in overseas premium push

    Jan 15, 2020 1:32pm
    South Korea’s Hyundai Motor Co. unveiled the first sport-utility vehicle (SUV) under its Genesis brand on Wednesday, a move analysts said was crucial for the premium marque’s expansion in overseas markets. The brand, spun off in...
  • Boeing on Tuesday reported its worst annual net orders in decades as the grounding of the 737 MAX saw it fall far behind Airbus. Photo: Reuters

    Malaysia Airlines suspends taking delivery of 737 MAX jets

    Jan 15, 2020 1:06pm
    Malaysia Airlines said on Wednesday it has suspended taking delivery of 25 Boeing 737 MAX jets, citing the plane’s delayed return to service since it was grounded last year following two fatal crashes, Reuters reports. The...
  • Tesla CEO Elon Musk receives no salary or cash bonus, only options that vest based on Tesla’s market cap and milestones for growth. Photo: Reuters

    Musk nears US$346 million payday as Tesla market value soars

    Jan 15, 2020 9:28am
    Tesla Inc. chief executive Elon Musk is coming close to earning the first US$346 million tranche of options in a record-breaking pay package, after the electric vehicle maker’s stock more than doubled in the last three...
  • Long-standing tensions in the Renault-Nissan partnership have been heightened since the arrest of former boss Carlos Ghosn in November 2018. Photo: Reuters

    Renault, Nissan say alliance not headed for break-up

    Jan 14, 2020 5:04pm
    French carmaker Renault and Japanese partner Nissan Motor said their alliance was in no danger of being dissolved, denying a media report of a potential break-up that sent their shares skidding to multiyear lows. The alliance,...
  • The Federal Aviation Administration is not expected to approve the MAX’s return to service until at least February and potentially March or later, Reuters reported. Photo: AFP

    Mnuchin: Boeing woes could cut half-point from US growth

    Jan 14, 2020 7:31am
      Challenges faced by US planemaker Boeing to get the grounded 737 Max back to the skies could shave a half-percentage point from the country’s economic growth this year, Treasury Secretary Steven Mnuchin told Fox Busines Network....
  • Automakers in China hope a sales recovery in lower-tier cities, along with an easing of US-China trade tensions, could help slow the decline in vehicle sales. Photo: CNSA

    China automakers forecast 2% fall in sales for 2020

    Jan 13, 2020 4:26pm
    Automakers in China need to get used to a new normal of “low-speed growth” in the world’s largest car market, the country’s top auto body said on Monday, as it reiterated predictions that sales will likely...