November, 2018

• 28 November

  Canada oil output up despite pipeline woes

  

  Bloomberg Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record ...

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• 28 November

  Solar panel makers rise as demand in China rebounds

  Bloomberg Solar companies gained after the world’s largest panel manufacturer said demand in China was rebounding. JinkoSolar Holding Co Chief Executive Officer Kangping Chen said in a statement that Beijing’s solar cutback has not slowed sales as much as expected and that a global supply glut is easing. “We are confident that Chinese demand will return next year,” Chen said. ...

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• 28 November

  Tesla starts phase 2 of Aussie virtual power plant

  

  Bloomberg Tesla Inc has started the second phase of its virtual power plant in South Australia as it seeks to potentially connect 50,000 homes to provide as much capacity as a large gas turbine. Solar panels and Tesla’s Powerwall batteries will be installed at 1,000 public housing properties during the second stage, South Australia’s Energy Minister Dan van Holst Pellekaan ...

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• 28 November

  Go-Jek to enter Singapore soon in challenge to Grab

  

  Bloomberg Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan. Go-Jek’s beta app will be available to a limited number of consumers before expanding it to a wider population as testing progresses, said the people, who asked not ...

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• 28 November

  New Zealand bans China’s Huawei from 5G roll-out

  

  Bloomberg New Zealand has followed Australia in banning China’s Huawei Technologies Co. from supplying fifth-generation wireless equipment to the nation’s telecommunications operators, citing national security concerns. News of the ban came via Spark New Zealand, which said its intention to use Huawei 5G equipment had been blocked by the Government Communications Security Bureau. The GCSB told Spark that, if implemented, ...

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• 28 November

  Ghosn denies ‘he passed trading losses to Nissan’

  

  Bloomberg Carlos Ghosn, the embattled former chairman of Nissan Motor Co., denied reports that he passed on personal trading losses to the carmaker, the first comment from the executive who is detained on numerous allegations of financial misdeeds. Ghosn acknowledged consulting Nissan about the collateral related to the contract, but didn’t transfer the losses to the automaker, said Motonari Otsuru, ...

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• 28 November

  Porsche sees demand in China car sales

  

  Bloomberg China’s love for fast cars is helping Porsche AG see unprecedented demand even while industry sales fall for a fifth straight month. “We will have a very good year in China with sales increase over 10 percent,” Chief Executive Officer Oliver Blume told Bloomberg Television from the Los Angeles auto show. There’s been a very big increase especially for ...

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• 28 November

  Hong Kong firm raises $105mn for expansion

  Bloomberg A Hong Kong startup called Oriente raised $105 million as it expands online lending operations in Southeast Asia and develops new products and technologies for markets like Indonesia and the Philippines. Oriente was founded in 2017 by Skype Inc. co-founder Geoffrey Prentice, former Lu.com Chief Operating Officer Hubert Tai, and Lawrence Chu, founder of BlackPine Group. It provides loans, ...

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• 28 November

  Google workers sign letter seeking end to China project

  

  Bloomberg A group of Google employees has signed a public letter calling on the company to abandon its plans for a Chinese search product that censors results. Project Dragonfly, as the initiative is known, would enable state surveillance at a time when the Chinese government is expanding controls over the population, according to the letter signed initially by at least ...

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• 28 November

  EU unveils plan to become ‘climate neutral’ by 2050

  

  Bloomberg The European Union unveiled its long-term vision on combating climate change in a push for more ambitious action on the environment just days after US President Donald Trump rejected his government’s warning on the economic costs of global warming. The 28-nation bloc, responsible for 10 percent of global greenhouse-gas emissions, set a 2050 perspective to help give direction to ...

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