Month: January 2023

Reuters exclusively reported Chinese electric vehicle maker BYD Auto Co plans to build a plant in Vietnam to produce car parts, in a move that would reduce the company’s reliance on China and deepen its supply chain in Southeast Asia as part of a global expansion. The post Reuters reveals Chinese EV maker BYD to […]

Reuters exclusively reported that Exxon Mobil Corp will sharply boost gasoline and diesel production at its Beaumont, Texas, refinery, completing a $2 billion expansion first considered nine years ago. Initial startup of a crude distillation unit at the 369,000-bpd refinery is expected by Jan. 31, making the Beaumont refinery the second largest in the United […]

Reuters exclusively revealed that Southwest Airlines Co Chief Executive Bob Jordan is looking at all options to ensure the operational meltdown the company suffered last month is not repeated. The Dallas-based carrier has been dealing with customer outrage and regulatory scrutiny after a systems meltdown left thousands of passengers stranded. The post Reuters reveals Southwest […]

Reuters took readers on a deep dive into how German carrier Lufthansa said on Wednesday it had offered to buy a minority stake in ITA Airways, betting on reviving the loss-making successor to Italy’s Alitalia and expanding its footprint in Europe. Lufthansa said Italy is the most important market outside of its existing home markets […]

Reuters was first to report that Renault SA and China’s Geely Automobile Holdings are working to finalise a deal to bring Saudi Aramco in as an investor and partner to develop and supply gasoline engines and hybrid technologies.  The post Reuters reveals Renault, Geely look to bring Aramco into engine venture appeared first on Reuters […]

 Reuters exclusively reported that Shell PLC’s Canada export project team in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and a switch to electricity as more renewable power becomes available. LNG Canada CEO Jason Klein told Reuters in an interview that lack of transmission infrastructure makes the whole electrification […]

Reuters shed light on how U.S. and European airlines will benefit from pent-up demand for travel to China after its recent border reopening, but route approvals, fresh COVID-19 testing rules and not enough large aircrafts remain barriers to rising sales. The post Reuters reveals Airlines face hurdles to cashing in on China re-opening appeared first […]

Reuters exclusively reported Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam.  The post Reuters reveals Apple supplier BOE plans new factories in Vietnam appeared first on Reuters News Agency.

Reuters took readers on a deep dive into how Premium brands BMW, Mercedes-Benz and Audi navigated last year’s automotive supply chain challenges better than the mass-market Volkswagen brand. Though the fourth quarter provided universal relief for the carmakers, China’s extensive lockdowns early in the year were particularly hard on sales volumes. The post Reuters reveals […]

Reuters shed light on how India’s nominal GDP growth is likely to fall in 2023-24, hurting tax collections and putting pressure on the federal government to reduce the budget gap by cutting expenses ahead of national elections in 2024. The post Reuters reveals fall in India nominal GDP growth in FY24 to challenge fiscal math […]