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Tesla Reaches Preliminary Battery-Supply Deal With CATL

November 6, 2019 admin Comments Off on Tesla Reaches Preliminary Battery-Supply Deal With CATL

(Bloomberg) — Tesla Inc. has reached a preliminary agreement to start using CATL as a battery supplier for cars made in China from as early as next year, and the companies are in talks to expand the relationship globally, according to people familiar with the matter.Following months of negotiations, the companies clinched a non-binding deal after Tesla Chief Executive Officer Elon Musk traveled to Shanghai in late August and met with CATL Chairman Zeng Yuqun for about 40 minutes, according to the people, who asked not to be named discussing private deliberations. Though a final agreement is expected to be …read more […]

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Asahi Cuts Full-Year Forecast For Second Time in Four Months

November 6, 2019 admin Comments Off on Asahi Cuts Full-Year Forecast For Second Time in Four Months

(Bloomberg) — Asahi Group Holdings Ltd. lowered its annual sales and profit forecast again as its $22 billion push into overseas markets makes Japan’s largest brewer more vulnerable to currency swings, as consumption weakens at home.Operating profit will probably be 202 billion yen ($1.9 billion) for 2019, the Tokyo-based company said Tuesday, citing currency fluctuations and domestic headwinds. That compares with its prior forecast of 215.5 billion yen, and the average analyst estimate of 215.9 billion yen.The shares of Asahi fell as much as 5.6% in early trading in Tokyo, the biggest intraday decline since July. The stock had climbed …read more […]

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Virgin Australia to cut domestic capacity by 2%, axe a Hong Kong route

November 6, 2019 admin Comments Off on Virgin Australia to cut domestic capacity by 2%, axe a Hong Kong route

Virgin Australia Holdings Ltd plans to cut domestic capacity by at least 2% in the second half of the 2020 financial year, axe its Melbourne-Hong Kong route and remove five aircraft from its fleet, its chief executive said on Wednesday. “Flying to the right destinations, with the right customer demand, and the right-sized fleet will improve our financial performance,” Virgin Chief Executive Paul Scurrah said at the airline’s annual meeting in Brisbane. Virgin competes against deeper-pocketed rival Qantas Airways in Australia’s aviation market, which has experienced softer demand as the country’s economic growth falters. …read more […]