Date
23 January 2018

Industrials

  • 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...
  • Foxconn is Landing.ai’s first strategic partner in a venture that will use artificial intelligence in a factory's quality control efforts. Photo: Reuters

    Foxconn joins venture to bring AI to factories

    Dec 15, 2017 9:24am
    Andrew Ng, co-founder of some of Alphabet Inc.-owned Google’s most prominent artificial intelligence projects, launched a new venture with iPhone assembler Foxconn to bring AI and so-called machine learning onto the factory floor, Reuters reports. Consumers...
  • General Electric said the job cuts were essential because sales of new power plants are falling. Photo: Reuters

    General Electric to cut 12,000 jobs in power business revamp

    Dec 8, 2017 8:58am
    General Electric Co. said it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate’s latest effort to shrink itself into a more focused company, Reuters reports. The US company launched the cuts...
  • Geely's Lynk & Co. 01 model costs around 160,000 to 220,000 yuan, more than 50 percent cheaper than a comparable Volvo car. Photo: China Daily

    Chinese automakers moving upmarket

    - Dec 4, 2017 9:19am
    Leading Chinese automakers like Geely and Great Wall Motors have set their sights on the mid-range market, which used to be dominated by mainland joint ventures with international car brands. China’s high-end car market is largely...
  • 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...
  • 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...
  • BYD chairman Wang Chuanfu believes the plan to ban the production and sale of vehicles using fossil fuels will happen sooner than expected. Photo: Bloomberg

    BYD predicts China shift to electric cars by 2030

    - Sep 22, 2017 4:45pm
    China is working to set a timetable to phase out the production and sale of fossil-fuel-powered vehicles, in a move that will accelerate the push into the electric car market led by companies such as BYD...
  • Water treatment is one of the fields that benefit from China’s environmental protection drive. Photo: China Everbright Intentional

    China equities: Environmental protection theme worth a bet

    - Sep 8, 2017 4:56pm
    Air pollution in China typically gets worse in the winter months as residents in north China use coal for heating. Chinese authorities issued a notice recently that require Beijing, Tianjin, Hebei and nearby regions to take...
  • Some of China's smoggiest cities are under pressure to complete annual steel and coal closure targets by the end of September. Photo: AFP

    China targets 15% cut in air pollution in northern cities

    Aug 24, 2017 4:15pm
    China has pledged to cut average concentrations of airborne particles known as PM2.5 by more than 15 percent year-on-year in the winter months in 28 northern cities to meet key smog targets, the environment ministry said....
  • The combined company will have roughly US$23 billion in annual revenue and offer oilfield gear for oil producers in 120 countries. Photo: Reuters

    GE closes Baker Hughes deal, becomes No. 2 oilfield service firm

    Jul 4, 2017 8:16am
    General Electric Co. has completed its buyout of Baker Hughes Inc., merging it with its own oil and gas equipment and services operations to create the world’s second-largest oilfield service provider by revenue, Reuters reports. The...
  • The US will urge G20 nations to take concrete actions to resolve problems plaguing the global steel industry, according to a White House advisor. Photo: Bloomberg

    Trump to demand stronger G20 action on steel overcapacity

    Jun 30, 2017 8:30am
    US President Donald Trump will demand action by the Group of 20 leaders to reduce excess capacity and other distortions in the global steel market, according to a top White House economic adviser. Trump will use the...
  • Dow and DuPont announced the deal in December 2015 in what was billed as an all-stock merger valued at US$130 billion. Photo: Reuters

    Dow, DuPont merger wins US antitrust approval

    Jun 16, 2017 7:46am
    DuPont and Dow Chemical Co. have won US antitrust approval to merge on condition that the companies sell certain crop protection products and other assets, Reuters reports, citing a court filing. The asset sales required by...
  • A worker packs steel rolls at a factory in Tangshan. The government is concerned that many factories continue to raise steel output despite mandatory capacity cuts. Photo: AFP

    China’s Tangshan starts new campaign to implement steel cuts

    Jun 6, 2017 9:03am
    Tangshan, a center of steel production in northeastern China’s Hebei province, has launched a fresh crackdown on mills that illegally restart production or violate industry overcapacity rules, Reuters reports, citing a notice published by the China...
  • 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...
  • 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...
  • 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...
  • Nearly 1,000 local policemen have been dispatched to Shanshui Cement’s Jinan office to quell the hostilities. Photo: WeChat

    How Shanshui Cement got mired in violent ownership tussle

    - Apr 12, 2017 11:39am
    China Shanshui Cement Group (00691.HK) is embroiled in a hostile struggle for control of a key operating unit with the contending parties said to have used sticks, axes, pepper spray, smoke bombs and water guns against each...
  • China seeks to use Syngenta's portfolio of top-tier chemicals and patent-protected seeds to improve domestic agricultural output. Photo: AFP

    ChemChina wins US regulatory nod for US$43 bln Syngenta deal

    Apr 5, 2017 7:59am
    China National Chemical Corp. (ChemChina) has won US antitrust approval to buy Switzerland’s Syngenta AG for US$43 billion on condition that it divest three products, the Federal Trade Commission said. The deal, announced in February 2016,...
  • Steel price recovery has shored up the bottom lines of Chinese steel mills, but it is adding to a structural problem within the industry.

    Don’t get over-excited about steel price rebound

    - Feb 17, 2017 3:57pm
    Commodity prices have rebounded as investors expect global economic growth to pick up steam. China’s iron ore price index surged nearly 90 percent in past one year and prices of steel products have also jumped. The...

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