Bloomberg After four years of planning, Tesla Inc finally broke ground on its planned $5 billion factory in the world’s biggest auto market. But the timing couldn’t be more inauspicious. Chief Executive Officer Elon Musk and some Shanghai officials, including Mayor Ying Yong, on Monday attended a function at a site near the city kicking off construction of what would …

Bloomberg Eskom Holdings SOC Ltd will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce as South Africa’s cash-strapped power utility looks to cut costs, according to a person familiar with the plans. The state-owned company last month reduced its highest executive structure to nine positions from 21 by regrading and …

Bloomberg Goldman Sachs Group Inc cut its oil price forecasts for 2019, citing a re-emerging surplus and resilient US shale production. Global benchmark Brent crude will average $62.50 a barrel this year, analysts including Damien Courvalin said in a January 6 note, down from a previous estimate of $70. US marker West Texas Intermediate will average $55.50 a barrel, down …