Date
15 August 2018

Transportation

  • Tesla CEO Elon Musk has yet to convince Wall Street analysts and investors that he can find the billions needed to take the company private. Photo: Bloomberg

    Musk bid for Tesla: no formal offer, no firm deals with advisers

    Aug 15, 2018 9:12am
    Tesla Inc.’s board named a special committee of three directors to decide what to do about chief executive Elon Musk’s potential offer to take the electric car company private, although Musk has yet to make a...
  • At US$12.2 billion in short bets, Tesla is the most shorted company in the United States, S3 Partners said. Photo: AFP

    Tesla short sellers trim exposure but stay the course

    Aug 14, 2018 8:19am
    Short sellers betting against Tesla Inc. trimmed their exposure to the electric car maker’s stock after chief executive Elon Musk gave new information about his proposal to take the company private, Reuters reports. Data showed traders...
  • Tesla founder and CEO Elon Musk stunned investors by announcing on Twitter that he might take the electric-car company private in a record US$72 billion transaction. Photo: Bloomberg

    Investors sue Tesla, Musk over going-private proposal

    Aug 13, 2018 7:45am
    Tesla Inc. and its chief executive Elon Musk were sued by investors for allegedly fraudulently engineering a scheme to squeeze short-sellers, including through Musk’s proposal to take the electric car company private, Reuters reports. The lawsuits...
  • Mearsk expects its Tradelens blockchain platform to be fully commercially available by the end of this year. Photo: Reuters

    Maersk-IBM blockchain platform signs up 94 clients

    Aug 10, 2018 9:20am
    Maersk said on Thursday that 94 companies and organizations have so far joined a blockchain platform that it is developing in partnership with IBM, an initiative aimed at providing more efficient and secure methods for conducting...
  • Investment bankers and analysts have serious doubts if Elon Musk will be able to raise the equity and debt financing needed for taking Tesla private. Photo: Reuters

    Tesla board seeking more info on Musk’s financing plan: report

    Aug 10, 2018 8:59am
    Tesla’s board is seeking more information from CEO Elon Musk about how his US$72 billion plan to take the electric carmaker private will be financed, Reuters reports, citing people familiar with the matter. The board’s request...
  • Uber is making its Freight unit a standalone entity and beefing up investments in the unit. Photo: Bloomberg

    Uber creating standalone business out of freight unit

    Aug 8, 2018 9:30am
    Uber Technologies is creating a standalone business out of its long-haul trucking services, Uber Freight, with plans to double investment in the unit, Reuters reports. The freight business, which connects truckers with shippers, will be led...
  • Didi’s services business, which includes auto leasing, car maintenance and gas station services, has gross merchandise value sales of 60 billion yuan (US$8.79 billion). Photo: Reuters

    China’s Didi to invest US$1 billion in auto services platform

    Aug 7, 2018 8:58am
    Didi Chuxing Technology, China’s largest ride-hailing service, said it will invest US$1 billion in its auto services business as it prepares for a widely anticipated initial public offering (IPO), Reuters reports. Didi’s services business, which includes auto...
  • Honda is recalling nearly 97,000 Avancier SUVs in China and also running checks on two other models following a cold-climate engine issue. Photo: Bloomberg

    Honda to recall more China cars over cold-climate engine issue

    Aug 7, 2018 8:58am
    Honda Motor announced on Monday that it will recall 96,900 Avancier sport utility vehicles (SUVs) in China due to a cold-climate engine problem that has already led to huge recalls earlier this year. The midsize Avancier...
  • Tesla shares spiked on Thursday after the company signaled that its cash-burn was being brought under control. The stock surge left short-sellers with huge paper losses. Photo: Reuters

    Tesla short-sellers dealt a US$1.7 bln loss as shares soar 16%

    Aug 3, 2018 9:30am
    Tesla stock short-sellers are estimated to have suffered US$1.7 billion in paper losses on Thursday as shares of the electric-car maker soared more than 16 percent after the firm’s quarterly report, Reuters reports.  Tesla shares posted...
  • The midsize Envision sport utility vehicle, assembled only in China, last year accounted for about 19 percent of Buick brand sales in the United States. Photo: Reuters/AFP

    GM seeks to exclude China-made Buick SUV from tariff

    Aug 3, 2018 9:28am
    General Motors Co. is seeking an exemption to a 25 percent US tariff on its Chinese-made Buick Envision sport utility vehicle in a move to prevent the key model in the brand’s US lineup from becoming...
  • David Einhorn, president of Greenlight Capital Inc., is one of Tesla’s fiercest critics, accusing it of putting “dangerous products” on the road and saying it is burning through cash. Photo: Bloomberg

    Greenlight suffers huge losses after betting against Tesla

    Aug 1, 2018 9:16am
    Billionaire hedge fund manager David Einhorn told investors that a sharp rally in Tesla Inc. shares, which he bet against, turned into heavy second-quarter losses at his Greenlight Capital fund, but stuck by his dim outlook...
  • A file photo shows Volkswagen export cars lined up at a port in Germany, The EU and other major global auto producers are said to be mulling potential coordinated response to US tariff threats. Photo: Reuters

    Auto powers set to discuss response to Trump tariff threat

    Jul 30, 2018 9:23am
    Officials from Canada, the European Union, Japan, Mexico and South Korea will meet this week to discuss their response to US threats to impose tariffs on autos and car parts, Reuters reports, citing people familiar with...
  • Ford said it is seeking outside investors for the unit, which will house its self-driving vehicle operations. Photo: AFP

    Ford to create separate unit for self-driving car operations

    Jul 25, 2018 9:13am
    Ford Motor Co. said it is creating a separate US$4 billion unit to house its self-driving vehicle operations and is seeking outside investors, Reuters reports. The carmaker said it would invest US$4 billion through 2023 in...
  • After bagging the top spot in 2014 in a world airline ranking survey, Cathay Pacific has seen its position slip continuously. Photo: Bloomberg

    Can Cathay Pacific recover lost ground?

    - Jul 19, 2018 4:25pm
    Cost-cutting gone too far? The China integration factor? Or the I-don’t-care attitude? Well, whatever the reason — personally, I think it’s a combination of all three factors, plus more — the undeniable truth is that Cathay...
  • The Boeing 747-8s are designed to be an airborne White House able to fly in worst-case security scenarios, such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system. Photo: Reuters

    Boeing wins US$3.9 billion contract for new Air Force One jets

    Jul 18, 2018 8:51am
    Boeing Co. has received a US$3.9 billion contract to build two 747-8 aircraft for use as Air Force One by the US president, due to be delivered by December 2024 and painted red, white and blue,...
  • A file photo shows an MTR employee assisting a customer standing near ticket machines inside a rail station. Hong Kong’s railway operator is now seeking to enhance its electronic fare payment systems. Photo: Bloomberg

    Why MTR is looking to upgrade its fare collection system

    - Jul 17, 2018 2:06pm
    Octopus cards have become an integral part of the lives of Hong Kong people after the stored-value product was launched in the city almost 21 years ago. Over the years, the smart card has seen an...
  • Ford said it remains “focused on working with our customers to get their vehicles repaired”. Photo: AFP

    Ford agrees to US$299.1 million Takata airbag settlement

    Jul 17, 2018 8:51am
    Ford Motor Co. agreed to a so-called economic loss settlement of US$299.1 million covering at least 6 million US vehicles with potentially faulty Takata airbag inflators, Reuters reports, citing court documents filed in a federal court...
  • The Aerion AS2, the world's first supersonic business jet, being developed by Lockheed Martin and Aerion Corp, is shown in a photo illustration released in December last year. Credit: Handout via Reuters

    US, Europe clash over supersonic jet noise standards: report

    Jul 13, 2018 9:11am
    A US push for new global standards to kickstart its fledgling supersonic jet industry is facing resistance from European nations that want tough rules on noise, Reuters reports, citing documents and people familiar with the matter....
  • Tesla's planned China production facility will help the firm avoid high import tariffs amid a trade war between Washington and Beijing. Photo: Reuters

    Tesla reaches deal to build big factory in Shanghai

    Jul 11, 2018 9:34am
    Tesla announced on Tuesday that it has reached a deal with Chinese authorities to build a factory in Shanghai, a move that would help the US electric-car maker double its global manufacturing.  The new plant, which...
  • Didi wants to build a fleet of internet-connected, environment-friendly cars with more comfortable seats and luggage space. Photo: Reuters

    Didi signs up Continental for tailor-made electric cars

    Jul 11, 2018 9:28am
    China’s Didi Chuxing signed an agreement with German automotive supplier Continental AG to cooperate in developing internet-connected, electric cars tailor-made for Didi’s ride-hailing services, Reuters reports. Didi currently uses regular passenger cars for its service, but...

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