March, 2020

• 3 March

  Nissan may cut costs as business worsens

  

  Bloomberg Nissan Motor Co is ready to make deeper cuts to fixed costs as the carmaker’s business deteriorates in a tough environment exacerbated by the coronavirus, said Chief Executive Officer (CEO) Makoto Uchida, who is three months into his tenure atop the struggling company. The CEO has promised to unveil a turnaround plan in May for the Japanese giant, which ...

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• 3 March

  Son tells Wall Street he’s eager to keep investing

  

  Bloomberg SoftBank Group Corp, facing skepticism of its investment strategy, conveyed a message to Wall Street: Now is the time to invest. Masayoshi Son, SoftBank’s founder and chief executive officer, (CEO)told a roomful of fund managers and financial institutions at a private meeting in New York that recent market declines present an opportunity to take stakes in companies at discounted ...

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• 3 March

  Singapore on track to start rolling out 5G by mid-2020

  

  Bloomberg Singapore is on track to start 5G deployment this year and achieve standalone coverage across the country by 2025, as the city-state seeks to further develop digital infrastructure. The Infocomm Media Development Authority intends to award 5G spectrum by mid-2020 after earlier receiving three submissions from Singtel, TPG as well as a joint submission from StarHub and M1, Minister ...

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• 3 March

  UK government lifts restriction on new wind farms on land

  

  Bloomberg The UK lifted a ban on subsidies for new onshore wind farms after years of denying the technology support, a sign ministers are looking for more ways to meet a goal of net zero emissions by 2050. The capacity of new wind farms sited on land slumped to the lowest levels since 2015 last year after policies to curb ...

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• 3 March

  LNG traders eye top market amid virus blow

  

  Bloomberg With liquefied natural gas (LNG) prices reeling from the triple whammy of a mild winter, rising supply and China’s hobbled economy, Japan may be about to land another blow. Electricity consumption, the biggest outlet for LNG in the world’s top importer of the fuel, is expected to drop after Prime Minister Shinzo Abe’s shock announcement urging schools to shut ...

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• 3 March

  Australia state touts 10-year proposal to export hydrogen

  

  Bloomberg Tasmania will invest $33 million to build a renewable hydrogen industry, as the island state plots a course to commercial exports of the clean fuel by 2030. Australia’s smallest state seeks to benefit from its abundance of hydropower generation and the falling cost of large-scale production from renewables to make emissions-free hydrogen for export to Asia. Hydrogen projects are ...

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• 3 March

  Johnson ready to block sports events if virus takes hold

  

  Bloomberg UK Prime Minister Boris Johnson will unveil a suite of emergency measures to tackle coronavirus after he was criticised for not doing enough to prepare for the spread of the disease. Schools could be closed and sports and music events cancelled if needed to protect the public, Johnson told the BBC. He was expected to appear alongside Chief Medical ...

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• 3 March

  Trump tells drug makers ‘get it done’ on virus treatments

  

  Bloomberg President Donald Trump sought to show his personal engagement in the fight against coronavirus, meeting with drug company executives to elicit promises of new medicines and announcing he’ll visit federal health agencies later in the week. At the White House meeting, executives from Gilead Sciences Inc, Johnson & Johnson, GlaxoSmithKline Plc, Sanofi, Pfizer Inc and other manufacturers told Trump ...

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• 3 March

  VW takes EV push global with plans for new SUV

  

  Bloomberg Volkswagen AG unveiled a prototype for a battery-powered SUV to flank its ID.3 hatchback later this year and play a key role in strengthening the German manufacturer’s global push into electric cars. The marque’s first fully-electric SUV — dubbed ID.4 —is set to help take output of battery-powered vehicles to as many as 1.5 million cars by 2025, the ...

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• 3 March

  Twitter advises its 5,000 global employees to work from home

  

  Bloomberg Twitter Inc is “strongly encouraging” its almost 5,000 global employees to work from home due to concerns over the spread of the Covid-19 coronavirus, the company said. The social media company made the suggestion as part of a blog update one day after it suspended all non-critical travel for workers, including pulling out of the South by Southwest conference ...

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