Year: 2020

(Bloomberg) — Apple Inc.’s major suppliers in China, including iPhone-maker Hon Hai Precision Industry Co., plan to resume full-scale production in the country Feb. 10, despite the coronavirus that has infected thousands and limited travel.Foxconn’s Hon Hai, the most important manufacturer for the U.S. company, said Tuesday it still expects to be able to restart facilities throughout China on schedule, according to a text message sent to Bloomberg News. Suppliers such as Quanta Computer Inc., Inventec Corp. and LG Display Co. also said they would go back to work next week in China.While Chinese officials and companies have targeted Feb. …read more […]

TOKYO/SEOUL (Reuters) – Shares of Asian companies in Tesla Inc’s battery supply chain surged on Tuesday after Panasonic Corp’s report on the first profit at its battery venture with Tesla boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s so-called Gigafactory in Nevada gives another vindication for Tesla founder Elon Musk’s bet on EVs against established automaking heavyweights including General Motors Co. “But now there is more viability about the sector thanks to Tesla’s strong sales and Europe’s tougher emissions regulations,” he said. …read more […]

(Bloomberg) — For a few tumultuous years, Tesla Inc. gave the bulls reason to believe and bears reason to doubt. Sure, Elon Musk was pulling off what legacy automakers tried and failed to do — make electric cars cool — but he was presiding over an inexperienced enterprise, and the old guard would catch up.As Tesla observers try to understand how and why the stock has tripled in a little more than three months, analysts and Musk’s own rivals are second-guessing the notion that the Model 3 maker will be caught anytime soon.“There’s a recognition that Tesla is in a …read more […]

Alphabet Inc’s new Chief Executive Sundar Pichai unveiled sales figures that investors have long demanded, but shares fell 5% as Google’s advertising business and the new data about YouTube and Google Cloud broadly disappointed. Pichai had sought to counter slowing revenue growth in the company’s main advertising business by pointing to the Silicon Valley firm’s younger units. …read more […]

(Bloomberg) — China’s stocks fluctuated after plunging on Monday, while most Asian equities rose with U.S. futures as investors gauged efforts to contain the coronavirus and awaited potential responses from policy makers.In a wild start to trading Tuesday, Chinese equities tumbled more than 2%, then recouped all that loss within minutes. South Korean and Hong Kong shares outperformed in Asia, with Japanese and Australian benchmarks seeing more modest gains. Oil recovered a slice of recent losses, and traded back above $50 per barrel. U.S. Treasury yields also edged up, while the dollar was flat.China earlier set the daily yuan fixing …read more […]