Date
24 April 2018

Industrials

  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • The United States already has 29 duties in place against Chinese steel products, and China’s steel exports to the US fell to just 1 percent of its total steel exports last year. Photo: Bloomberg

    World steel markets unfazed by US tariff move

    Mar 9, 2018 8:05am
    The imposition of a 25 percent US tariffs on steel imports has raised fears of a global trade war but steel producers outside North America believe they can weather the storm without too much disruption to...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...

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