Markets


Tesla Supplier Panasonic to Join Toyota in Fight Against Chinese EVs Tesla Supplier Panasonic to Join Toyota in Fight Against Chinese EVs
- January 23, 2019

The companies have been studying working together on batteries since 2017. Neither company has revealed how much capital is being invested, but confirmed that the venture would be 51% controlled by Toyota . The new joint venture aims to provide a stable supply of competitive batteries to multiple automakers - sold principally through Panasonic - as the EV market grows to meet evolving consumer needs and to address societal issues related to energy and climate change. (more...)
Saudi Arabia, South Africa Co-sign MoI to Construct Refinery, Petrochemical Complex Saudi Arabia, South Africa Co-sign MoI to Construct Refinery, Petrochemical Complex
- January 23, 2019

The South African minister said that the planned location for building the refinery and petrochemical factory will be named in the coming weeks. Saudi Arabia announced the investment pledge in July 2018, strengthening already close ties between the Arab Kingdom and South Africa. (more...)
British billionaire Dyson moves vacuum giant to Singapore British billionaire Dyson moves vacuum giant to Singapore
- January 23, 2019

Krueger's appointment "proves how serious we are about taking this project and this division to the next level", Dyson CEO Jim Rowan told analysts on a financial results call on Tuesday. Jim Rowan, chief executive for Dyson who is now based in Asia, was clear the move to Asia is not Brexit related. He noted countries in the region such as China have grown at a rapid pace to the size of mature markets like the USA and Japan. (more...)
China says U.S., Canada abused extradition agreement over Huawei executive Meng China says U.S., Canada abused extradition agreement over Huawei executive Meng
- January 23, 2019

As one of our loyal readers, we ask you to be our partner. A group of 140 academics, former diplomats and other officials from around the world are urging China to immediately release two detained Canadians, warning the situation is causing a chill on China's relations around the world. (more...)
Newark Airport: Ground stop briefly ordered after drones sighted near Newark International Newark Airport: Ground stop briefly ordered after drones sighted near Newark International
- January 23, 2019

Arriving flights to Newark Airport were temporary prevented from landing on Tuesday because two drones were spotted flying above Teterboro Airport, according to a spokesperson for the Federal Aviation Administration . In late December, drone sightings near the UK's Gatwick airport resulted in utter chaos as about 1,000 flights were cancelled over three days, affecting approximately 140,000 people. (more...)
Brexit backer James Dyson ditches Britain for Singapore in HQ move
- January 23, 2019

It said that the decision was made based on a number of factors that offset the cost factor, including supply chains and access to markets. Singapore doesn't have a single car-manufacturing plant and is one of the costliest places in the world to buy an automobile, but is home to the planet's second-largest container port and a manufacturing hub for high-technology products such as Rolls Royce Holdings Plc aircraft engines. (more...)
Digger Driver Smashes Through Hotel Foyer Over Pay Dispute Digger Driver Smashes Through Hotel Foyer Over Pay Dispute
- January 23, 2019

Police are seeking a man who was filmed smashing into the reception of a Travelodge hotel with a digger , amid speculation he did so because he was a disgruntled contractor . "Then some idiot in a mini digger chose to drive through the middle of the building". According to the company, the man responsible worked for subcontractor MF Construction and had been waiting for his manager to arrive with his pay, which he told other workers at the site was late. (more...)
Carlos Ghosn offers to wear electronic ankle tag for bail Carlos Ghosn offers to wear electronic ankle tag for bail
- January 23, 2019

Ghosn is also on the verge of being ejected from the roles of chairman and CEO at Renault, with the French finance minister last week calling for his dismissal. The French state is a 15pc shareholder in Renault, which in turn owns almost half of Nissan. This should be put in place by the company's board of directors in the coming days, he added. (more...)
Maruti Baleno Facelift official bookings start before launch Maruti Baleno Facelift official bookings start before launch
- January 22, 2019

Maruti is all set to launch the 2019 Baleno soon . Maruti has officially confirmed that the new Baleno will offer additional safety features like speed alert system, co-driver seat belt reminder and rear parking assist sensors. The third-gen Wagon R will be available with two petrol engines. The Baleno RS comes with Maruti's 1.0-litre turbocharged BoosterJet petrol engine which produces 101bhp and 150Nm of torque. (more...)
World Economy Forecast To Slow In 2019 Amid Trade Tensions World Economy Forecast To Slow In 2019 Amid Trade Tensions
- January 22, 2019

Growth in emerging and developing Asia will dip from 6.5 per cent in 2018 to 6.3 per cent in 2019 and 6.4 per cent in 2020, it said. Populist measures such as farm loan waivers will not solve the problems faced by farmers permanently, but cash transfers are a better solution, said International Monetary Fund chief economist Gita Gopinath. (more...)
United States to formally seek extradition of Huawei executive Meng Wanzhou United States to formally seek extradition of Huawei executive Meng Wanzhou
- January 22, 2019

That decision has become more politically charged after the RCMP arrested Huawei executive Meng Wanzhou in Vancouver on December 1 at the request of the United States. She was released on bail last month and is due in court in Vancouver on Feb 6. Meng's case has drawn global attention and sparked diplomatic tensions between Canada and China. (more...)
China's Economy Slows to Lowest Level in almost 30 YEARS China's Economy Slows to Lowest Level in almost 30 YEARS
- January 22, 2019

The 6.6 per cent is above the official target of around 6.5 per cent, according to the data published the NBS. A dramatic slowdown in China's economy would, therefore, threaten the global recovery. Employment remained stable, with more than 13 million new jobs created in urban areas a year ago and the surveyed urban unemployment rate standing at 4.9 percent in December. (more...)
International Monetary Fund warns on eurozone slowdown
- January 22, 2019

India will continue to be the world's fastest growing major economy, the report said. Britain's messy divorce from the European Union and Italy's ongoing financial struggles pose threats to growth in Europe. The IMF said US-China trade confrontations, Brexit and other uncertainty are threatening to drag down global growth even further. "We therefore believe growth of below 6.5 percent will become the norm from here, and that Beijing is nearly certainly going to accept this new reality and ... (more...)
250 passengers stuck on 'freezing' plane for 14 hours in -49F weather 250 passengers stuck on 'freezing' plane for 14 hours in -49F weather
- January 22, 2019

The plane was then meant to embark to Hong Kong once again, but a broken door prevented it from doing so. A "rescue plane" - loaded with meals for its passengers - was sent from Newark to bring the Hong Kong-bound passengers back to the Garden State. (more...)
Google fined $57 million for lack of transparency Google fined $57 million for lack of transparency
- January 21, 2019

The fine was levied, CNIL said, because Google made it too hard for users to find essential information, "such as the data-processing purposes, the data storage periods or the categories of personal data used for the ads personalisation", by splitting them across multiple documents, help pages and settings screens. (more...)
China economy grows at slowest pace in 28 years
- January 21, 2019

After years of breakneck growth, the world's second largest economy is losing steam, evidenced by slowing consumer spending , manufacturing output, and investment. China's top trade negotiator, Vice Premier Liu He, is scheduled to visit meet with USA trade representative Robert Lighthizer in Washington, D.C.at the end of January. (more...)
Tesla cuts jobs as it looks to make Model 3 more affordable Tesla cuts jobs as it looks to make Model 3 more affordable
- January 20, 2019

Tesla's announcement today made several references to lower-priced EVs while ignoring competitiveness at the top end of the market - perhaps Tesla has already reconciled with losing market share among a group of more expensive electric vehicles while losing confidence in a never-ending pool of wealthy buyers who would consider Tesla. (more...)
US President Donald Trump offers immigration concessions to get wall funds US President Donald Trump offers immigration concessions to get wall funds
- January 20, 2019

But Trump did not budge on his $5.7 billion demand for the wall and, in essence, offered to temporarily roll-back some of his own hawkish immigration actions - actions that have been blocked by federal courts. In addition to its immigration provisions, the package would reopen all parts of the government that are closed. The situation for furloughed employees isn't getting any brighter and the crisis at the border isn't improved by show votes. (more...)
Oil prices rise amid lifted market sentiment Oil prices rise amid lifted market sentiment
- January 20, 2019

Members will again meet in April to review the ongoing production cuts and to decide whether the cutbacks should be extended or not. Initial reports just after the meeting in Vienna in early December suggested that OPEC and its allies would not be unveiling who is cutting how much under the new deal. (more...)
Stocks Rally, Gold Breaks as Reports Say China Offered US Import Boost Stocks Rally, Gold Breaks as Reports Say China Offered US Import Boost
- January 20, 2019

Over the last few days investors grew steadily more hopeful the USA and China are narrowing their differences. The pan-European STOXX 600 index rose 1.80 percent and MSCI's gauge of stocks across the globe gained 1.18 percent. US government intervention in trade policy, they contend, "should be limited to areas that are genuinely vital to national security, prosperity and democratic values". (more...)

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