Date
22 September 2017

Transportation

  • Daimler will spend US$1 billion to expand its Mercedes Benz operations near Tuscaloosa, Alabama, to produce batteries and electric sport utility vehicles. Photo: Reuters

    Daimler joins rush to add more North American plants

    Sep 22, 2017 7:44am
    US automakers are facing mounting pressure amid slowing demand in the country, as automakers from Asia and Europe aggressively ramp up vehicle production in North America, including a new investment by Daimler AG, Reuters reports. In...
  • Tesla isn’t completely going it alone in chip development and will build on top of AMD intellectual property. Photo: Reuters

    Tesla working with AMD to develop chip for self-driving car

    Sep 21, 2017 8:05am
    Electric carmaker Tesla Inc. is working with Advanced Micro Devices Inc. to develop its own artificial intelligence chip for self-driving cars, Reuters reports, citing CNBC. AMD spin-off GlobalFoundries Inc. chief executive Sanjay Jha said his company...
  • Ford has wrestled most of this year to rein in high inventories of passenger cars as consumers have shifted to buying pickup trucks and sport utility vehicles. Photo: Reuters

    Ford to cut production at five North American vehicle plants

    Sep 20, 2017 8:04am
    Ford Motor Co. plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models, Reuters reports. The plants affected include three assembly plants in the United...
  • MTR Corp will strive to boost its European business as part of the rail operator’s growth strategy, says Chairman Frederick Ma. Photo: Bloomberg

    Why Europeans should be wary of ‘Goldilocks’ MTR

    - Sep 18, 2017 1:57pm
    MTR Corporation, Hong Kong’s commuter rail operator, feels it should be making a lot more money, given its strengths and solid track record. Last week, Chairman Frederick Ma Si-hang organized a media tour to London and...
  • VW, the biggest foreign automaker in China, is recalling millions of vehicles in the country due to issues with Takata air bags. Photo: Bloomberg

    VW to recall 4.86 mln vehicles in China over Takata airbags

    Sep 15, 2017 8:59am
    Volkswagen AG and its Chinese joint ventures will recall 4.86 million vehicles in China due to potential safety issues with Takata Corp air bags, Reuters reports. VW China will recall 103,573 vehicles, while FAW-Volkswagen will recall...
  • A US federal agency says lack of system safeguards in Tesla's Autopilot contributed to a deadly 2016 crash. Photo: Bloomberg

    Autopilot limitations contributed to fatal Tesla crash: NTSB

    Sep 13, 2017 9:20am
    “Operational limitations” in the Tesla Model S played a major role in a May 2016 crash that killed a driver using the vehicle’s semi-autonomous Autopilot system, according to the US National Transportation Safety Board (NTSB).  “System...
  • Ireland expects annual tourist arrivals from China to almost double by 2020, with the visitors drawn to various attractions including those in the capital city Dublin. Photo: Ireland.com

    With direct flights to Dublin, Cathay takes big bet on Ireland

    - Sep 11, 2017 8:59am
    Despite posting losses of more than HK$2 billion in the first half of this year, Cathay Pacific has announced the start of a new direct route from Hong Kong to Dublin, the capital of Ireland, from...
  • China has yet to say when it will ban the production and sale of petrol and diesel cars. Photo: Reuters

    China studying when to ban sales of traditional fuel cars

    Sep 11, 2017 8:24am
    China has begun studying when to ban the production and sale of cars using traditional fuels, the official Xinhua news agency reports, citing comments by the vice industry minister, who predicted “turbulent times” for automakers forced...
  • China Merchants Port Holdings will pay US$924 million for about 90 percent of TCP Participações. Photo: Splash 24/7

    China Merchants buys control of Brazil’s most profitable port

    Sep 5, 2017 8:40am
    China Merchants Port Holdings Co. Ltd. agreed to buy 90 percent of TCP Participações SA, Brazil’s most profitable port terminal, for about 2.9 billion reais (US$924 million), a sign of growing interest in assets across Latin...
  • Honda has joined the list of automakers that have reached settlements in the US over defective Takata air-bags. Photo: Bloomberg

    Honda in US$605 mln settlement over faulty Takata air-bags

    Sep 4, 2017 8:53am
    Honda Motor reached a US$605 million settlement in the United States in a lawsuit over defective Takata air-bags in millions of cars sold in the country, the Wall Street Journal reports. The automaker reached the settlement...
  • Dara Khosrowshahi says he is planning to rebuild Uber’s culture and grow market share as well as possibly conduct an initial public offering. Photo: Reuters

    New Uber CEO promises change, sees IPO in 18-36 months

    Aug 31, 2017 8:32am
    Uber Technologies Inc.’s new chief executive Dara Khosrowshahi told employees on Wednesday the ride-services company would change its culture and may go public in 18 to 36 months, Reuters reports. Khosrowshahi, who led travel-booking site Expedia...
  • Pedestrians pass by the Uber offices in Manila. It is unclear whether authorities are focused on one country or multiple countries where the company operates. Photo: Reuters

    US probes Uber for possible bribery law violations

    Aug 30, 2017 8:17am
    Uber Technologies Inc. is cooperating with a preliminary investigation led by the U.S. Department of Justice into possible violations of bribery laws, Reuters reports. The preliminary investigation is the latest in a series of legal wrangles...
  • Jeff Immelt says he has immense respect for Uber and its founders but is not pursuing a leadership position at the company. Photo: Reuters

    Jeff Immelt says not pursuing Uber CEO job

    Aug 28, 2017 8:27am
    Uber Technologies Inc.’s field of candidates for a new chief executive narrowed further on Sunday when Jeff Immelt, chairman of General Electric Co, said he was no longer in the running for the top leadership position,...
  • The shrinking losses reflect Uber's efforts to rein in massive spending on subsidies for both drivers and customers. Photo: Reuters

    Uber quarterly loss down as bookings increase

    Aug 24, 2017 7:33am
    Uber Technologies Inc. reported a 16 percent increase in quarterly bookings and a smaller loss than the previous period as the ride services company showed signs of inching toward profitability. The San Francisco-based company said it...
  • Ford sees China as the fastest growing market in the world for new energy vehicles. Photo: AFP

    Ford, China’s Zotye Auto plan JV to build electric vehicles

    Aug 23, 2017 8:30am
    Ford Motor is exploring setting up a joint venture with Chinese firm Anhui Zotye Automobile Co. to build electric passenger vehicles in China under a new brand, Reuters reports. China, the world’s top auto market, is...
  • Intensifying competition from budget airlines has forced Cathay Pacific to offer customers better deals, leading to an erosion of passenger yield. Photo: Cathay Pacific

    The real culprit behind Cathay’s loss: Falling passenger yield

    - Aug 22, 2017 12:58pm
    Hong Kong’s flagship carrier Cathay Pacific Airways (00293.HK) suffered a worse than expected loss of HK$2.05 billion in the first half of this year. Many blamed it on the carrier’s fuel hedging losses, but I believe...
  • A formal offer by Great Wall for Jeep would put in play a brand that was once a symbol of US military power. Photo: Bloomberg

    China’s Great Wall Motor confirms interest in Fiat Chrysler

    Aug 22, 2017 8:39am
    A direct overture by Chinese automaker Great Wall Motor Co. Ltd. (02333.HK) to Italian-American automaker Fiat Chrysler Automobiles NV sent FCA shares up sharply on Monday, as investors cheered the potential sale of the storied Jeep...
  • Uber said the price hikes will benefit drivers as they pocket most of the fares. Photo: AFP

    Uber hikes HK rates by up to 80% amid legal troubles

    Aug 21, 2017 3:11pm
    Uber Technologies Inc. on Monday raised its Hong Kong fees by up to 80 percent after a review of its business in the city, Reuters reports, citing the ride-sharing company. The San Francisco-based firm, which recently...
  • Having achieved a strong earnings recovery in recent years, Fiat Chrysler is in a strong position to negotiate with potential bidders. Photo: Bloomberg

    Acquiring Fiat Chrysler won’t be a cinch for Chinese carmakers

    - Aug 17, 2017 2:08pm
    Several Chinese automakers are reportedly interested in acquiring Italian-American company Fiat Chrysler. Great Wall Motor (02333.HK), Guangzhou Automobile Group (02238.HK) and Dongfeng Motor Group (00489.HK) are said to be some of the potential bidders. They are...
  • Cathay Pacific blamed intense competition in the industry for its dismal performance. Photo: Bloomberg

    Cathay Pacific posts HK$2.05 billion interim loss

    Aug 16, 2017 7:06pm
    Cathay Pacific Airways on Wednesday posted a net loss of HK$2.05 billion for the first half of this year, compared with a net profit of HK$353 million in the same period in 2016. Group chairman John...

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