9 January 2020

Industrials and Utilities

  • China is opening up oil and gas exploration to foreign firms as part of efforts to boost domestic output and supplies. Representative image: Bloomberg

    China opens oil & gas exploration, production to foreign firms

    Jan 9, 2020 11:58am
    China will allow foreign companies into the oil and gas exploration and production business in the country, opening up the industry to firms other than state-run energy giants, Reuters reports. From May 1 this year, foreign...
  • Tesla CEO Elon Musk attends a ceremony for launch of the Model Y program at the firm’s new Shanghai factory on Tuesday. Photo: Reuters

    Tesla is now worth more than GM and Ford combined

    Jan 9, 2020 10:16am
    Electric carmaker Tesla’s stock market value has surpassed the combined value of General Motors and Ford Motor for the first time. It came as Tesla’s shares jumped 4.9 percent on the Nasdaq market on Wednesday, closing...
  • Former Nissan chairman Carlos Ghosn answers questions during a news conference in Beirut, Lebanon on Wednesday. Photo: Reuters

    Carlos Ghosn hits out at Nissan and Japan

    Jan 9, 2020 9:39am
    Fugitive auto executive Carlos Ghosn said in Beirut on Wednesday that he had been treated “brutally” by Tokyo prosecutors and that he was the victim of an inside job to oust him from the stewardship of...
  • Uber has made some changes to its fare mechanism in response to a new California worker law. Photo: Reuters

    Uber stops upfront ride pricing in California amid new labor law

    Jan 9, 2020 9:21am
    Uber Technologies on Wednesday informed its California customers that it will switch to providing estimates as opposed to fixed prices for its rides in response to a new state law that makes it harder to qualify...
  • Elon Musk dances onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai on Tuesday. Photo: Reuters

    Musk launches Tesla Model Y SUV program in China

    Jan 8, 2020 9:49am
    Tesla on Tuesday launched the?Model Y electric sports utility vehicle program at the firm’s new Shanghai factory, as it delivered its first cars built outside the United States to the public. CEO Elon Musk caused a...
  • Carole Ghosn, shown here in a 2017 file picture with her husband Carlos, is accused of falsely claiming not to know, or to have met, people connected to a company that received payments from Nissan Motor. Photo: Reuters

    Japan seeks arrest of Ghosn’s wife for alleged perjury

    Jan 8, 2020 9:22am
    Japanese prosecutors issued an arrest warrant for Carlos Ghosn’s wife for alleged perjury, as officials stepped up efforts to bring the fugitive car industry boss back to face trial on financial misconduct charges, Reuters reports. The...
  • Sony aims to start test rides during the next financial year to check the performance of its auto-related technologies. Photo: Bloomberg

    Sony to test self-driving cars to boost sensing, safety tech

    Jan 7, 2020 5:10pm
    Sony Corp plans to start testing self-driving cars as early as this year in a bid to beef up the company’s sensing and safety technologies, Reuters reports. The Japanese electronics giant revealed the plan as it...
  • World Economic Forum founder Klaus Schwab first articulated the concept of stakeholder capitalism in the 1970s. Photo: Reuters

    Making stakeholder capitalism a reality

    - Jan 7, 2020 1:15pm
    For a half-century, American corporations (and many others around the world) have embraced shareholder primacy, which holds that the only responsibility of business is to maximize profits. But this principle is now being challenged by corporate...
  • Tesla customers have shown immense brand loyalty, effectively functioning as unpaid marketing personnel. Photo: Bloomberg

    Tesla’s unparalleled brand power

    - Jan 7, 2020 10:48am
    US electric carmaker Tesla has announced that it delivered 367,500 vehicles last year. Though the figure almost marked the low end of a guidance given for sales of 360,000 to 400,000 vehicles, what is worth noting...
  • Hyunda Motor has teamed up with Uber for an air vehicle project. Photo: Bloomberg

    Uber, Hyundai Motor team up to develop electric air taxi

    Jan 7, 2020 10:22am
    Ride-hailing company Uber Technologies and South Korean automaker Hyundai Motor plan to jointly develop electric air taxis, joining the race for “flying cars” to ease urban congestion. Hyundai unveiled a concept electric aircraft developed with Uber...
  • Toyota president Akio Toyoda announces plans to build a prototype city of the future during the CES event in Las Vegas on Monday. Photo: Reuters

    Toyota to build prototype city of the future in Japan

    Jan 7, 2020 9:51am
    Toyota Motor announced plans to build a prototype “city of the future” at the base of Japan’s Mt. Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars, “smart homes,” artificial intelligence...
  • Qualcomm’s new Snapdragon Ride autonomous driving computing system is seen in the trunk of a demo car at an event in Las Vegas on Jan 5. Photo: Reuters

    Qualcomm unveils new computing platform for autonomous driving

    Jan 7, 2020 9:31am
    US-based chipmaker Qualcomm on Monday announced a computing system for autonomous vehicles designed to handle everything from lane controls to full self-driving, Reuters reports. The system, dubbed Snapdragon Ride, marks the company’s first foray into a...
  • ChemChina is reorganizing its agrichemicals business ahead of a planned public float of the unit. Photo: Reuters

    ChemChina, Sinochem moving agri assets into new holding firm

    Jan 6, 2020 9:48am
    ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, Reuters reports, citing a statement on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection firm...
  • Tesla plans to start delivering cars, made at its US$2 billion factory in Shanghai, to the public on Jan. 7. Photo: Reuters

    Tesla cuts price for China-made Model 3 vehicles before delivery

    Jan 3, 2020 12:49pm
    US electric vehicle maker Tesla Inc. cut the starting price for its China-made Model 3 sedans by 16 percent to 299,050 yuan (US$42,919) after receiving Chinese subsidies for electric vehicles, Reuters reports, citing information on the...
  • Former Nissan chairman Carlos Ghosn said he had fled to Lebanon to escape what he called a “rigged” justice system in Japan. Photo: Handout / Representatives for Carlos Ghosn / AFP

    Lebanon receives Interpol arrest warrant for Ghosn

    Jan 3, 2020 7:46am
    Lebanon received an Interpol arrest warrant on Thursday for former Nissan chairman Carlos Ghosn, while Turkey launched an investigation into his daring escape from Japan via Istanbul, Reuters reports. Ghosn has become an international fugitive after...
  • Airbus deployed extra resources until hours before midnight to reach 863 aircraft for the year, compared with its revised target of 860 jets. Photo: Reuters

    Airbus ousts Boeing as top planemaker with 863 jet deliveries

    Jan 2, 2020 8:36am
    Airbus has become the world’s largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft in 2019, seizing the crown from embattled US rival Boeing, Reuters reports, citing airport and tracking sources....
  • Police stand at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia on March 11, 2019. Photo: Reuters

    Major commercial plane crash deaths down over 50% in 2019

    Jan 2, 2020 8:24am
    A Dutch consulting firm said the number of people killed in large commercial airplane crashes fell by more than 50 percent in 2019 despite a high-profile Boeing 737 MAX crash in Ethiopia in March, Reuters reports.?...
  • People walk past a house that is believed to belong to Carlos Ghosn in Beirut, Lebanon on Tuesday. Photo: Reuters

    Carlos Ghosn says he fled Japan ‘to escape injustice’

    Dec 31, 2019 5:44pm
    Ousted Nissan boss Carlos Ghosn confirmed on Tuesday that he fled to Lebanon, saying he didn’t want to be “held hostage” by a “rigged” justice system in Japan where he had been awaiting trial on financial...
  • Filing a lawsuit against a new California labor law, Uber and others have argued that the bill discriminates against gig economy businesses that rely on independent contractors. Photo: Reuters

    Uber, Postmates sue to block California gig worker law

    Dec 31, 2019 12:02pm
    Ride-hailing firm Uber and courier services provider Postmates asked a court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the US Constitution, Reuters reports. In a lawsuit...
  • A file picture shows former Nissan chief Carlos Ghosn leaving a detention house in Tokyo on April 25, 2019. Awaiting trial on financial misconduct charges, he is now reported to have left Japan. Photo: Reuters

    Ex-Nissan boss Ghosn leaves Japan, in Beirut now: report

    Dec 31, 2019 10:52am
    Carlos Ghosn, the ousted boss of the Renault-Nissan carmaking alliance who was grounded in Japan while awaiting trial on charges of financial misconduct, was in Lebanon as of Monday, a person close to Ghosn told Reuters....