Oil rebounded from several days of falling prices after industry data showed a surprise drop in U.S. crude inventories and offset weak economic readings in the United States that have depressed global stock markets.
Tesla Inc’s China factory aims to start production this month but it is unclear when it will meet year-end production targets due to uncertainties around orders, labor and suppliers, sources with knowledge of the matter said.
Tesla Inc’s China factory aims to start production this month but it is unclear when it will meet year-end production targets due to uncertainties around orders, labor and suppliers, sources with knowledge of the matter said. The plant’s mass production schedule is crucial for Tesla’s hopes of reaching its total production rate at an annualized 500,000 vehicles by the end of this year. The $2 billion factory – Tesla’s first car manufacturing site overseas – gained key government approvals last month and is on schedule to start production in October, the sources said. …read more […]
Tesco , Britain’s biggest retailer, said on Wednesday its chief executive Dave Lewis will step down next summer and be succeeded by Ken Murphy, an executive at Walgreens Boots Alliance .
Global shares fell to one-month lows on Wednesday after U.S. manufacturing activity tumbled to more than a decade low, sparking worries that the fallout from the U.S.-China trade war is spreading to the U.S. economy.
Credit Suisse on Wednesday said it expects an estimated $250 million boost in annual profit from higher net interest income it expects to reap by calculating risk-weighted assets in dollars rather than Swiss francs.
The following are the top stories in the Wall Street Journal. – Johnson & Johnson said it has agreed to a $20.4 million deal to avoid a coming trial accusing the company of helping spark an opioid-addiction crisis in two Ohio counties. – WeWork’s parent The We Company’s new management team is considering expansion plans in China as part of the its new emphasis on controlling costs. …read more […]
Credit Suisse on Wednesday said it expects an estimated $250 million boost to profit from changes the Swiss bank is making to how it calculates risk-weighted assets and does hedging.
(Bloomberg Opinion) — Sony Corp. has halved the price of its PlayStation Now subscription games service. Competition from console rival Nintendo Co. as well as new offerings from Alphabet Inc.’s Google and Apple Inc. are the obvious reasons.In addition, though, PlayStation Now failed to live up to its potential. At $19.99 per month,(1)the product was way overpriced. After four years, Sony has just 700,000 paid subscribers. That’s less than 1% of the 96.8 million PlayStation 4 units the company sold by the end of March.As Sony, Nintendo and Microsoft Corp. enjoy loyalty and ongoing revenue streams from subscribing services for …read more […]
Oil rebounded from several days of falling prices after industry data showed a surprise drop in U.S. crude inventories, offsetting weak economic readings in the United States that have depressed global stock markets.
UK’s Civil Aviation Authority said 44 flights are scheduled to fly on Wednesday to bring back 7,100 people back to the country, following the collapse of travel firm Thomas Cook.
(Bloomberg) — One of India’s largest private sector lenders slumped by a record in the bond market on Wednesday, as concerns mount over the health of the nation’s finance sector amid a shadow banking crisis.Dollar bonds of Yes Bank Ltd., which has sizable exposure to the cash-strapped shadow lenders, slumped a record 5.5 cents to 80.9 cents on the dollar on Wednesday, the lowest since the bonds were sold in 2018.The bank is at the epicenter of rising stress in India’s credit markets, where shock defaults last year by a major infrastructure lender have led to broader strains at other …read more […]
South Korea’s SK Hynix Inc has started using a high-tech material from a Korean supplier in its chipmaking process, a company official said on Wednesday, shifting away from a Japanese product for the first time. A SK Hynix official said it had selected an unnamed Korean company to supply high-purity hydrogen fluoride (HF), which is used in etching silicon materials and cleaning chips. South Korean chipmakers have been looking for ways to cut their reliance on Japanese materials since Japan imposed curbs on exports of key input products into South Korea in July. …read more […]
(Bloomberg) — One of Huawei Technologies Co.’s biggest trade war headaches has just gotten worse, as an unofficial workaround to the Trump administration ban on using Google apps and services has been quashed.Security researcher John Wu published an illuminating post Tuesday that explained how users of Huawei’s Mate 30 Pro were able to manually download and install Google apps, despite a U.S. blacklisting that prohibits the Chinese company from using American components and software. The process allowed the Mate 30 Pro (along with the basic Mate 30) to run popular apps like Google Maps and Gmail that otherwise would not …read more […]
Tech specialists Raghav Maliah and Jung Min have been appointed co-heads of Goldman Sachs’ mergers and acquisitions in Asia Pacific excluding Japan as former head John Kim moves to global private equity giant Carlyle Group.
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