World stock markets rose on Monday and benchmark U.S. bond yields slipped from 13-month highs as investors looked to the U.S. central bank's meeting later in the week.
World stock markets rose on Monday and benchmark U.S. bond yields slipped from 13-month highs as investors looked to the U.S. central bank's meeting later in the week.
Panasonic to reduce Tesla reliance as battery tie-up
14 Mar, 2021 09:58 PM
4 minutes to read
Panasonic s partnership with Tesla extends back to 2010. Photo / NZH
NZ Herald
By: Kana Inagaki
Panasonic plans to reduce its heavy reliance on Tesla by making batteries that are more compatible with electric vehicles from other global carmakers, according to the Japanese conglomerate s outgoing chief executive. The comments by Kazuhiro Tsuga come as Tesla begins developing its own batteries and expands its purchasing partners to South Korea s LG Chem and China s CATL to support growing sales of its electric vehicles. At some point, we need to graduate from our one-legged approach of relying solely on Tesla, Tsuga, who will step down after nine years as CEO to become chairman from April 1, said in an interview with the Financial Times. We are entering a different phase and we need to keep an eye on supplying manufacturers other than Tesla.
By LIU YINMENG in Los Angeles | China Daily Global | Updated: 2021-03-15 10:03 Share CLOSE A man visits a booth of Semiconductor Manufacturing International Corporation (SMIC), at China International Semiconductor Expo (IC China 2020) following the COVID-19 outbreak in Shanghai, Oct 14, 2020. [Photo/Agencies]
Trade policies often have unintended consequences, such as US sanctions on a major Chinese tech company contributing to a global shortage of semiconductors, an expert on global trade told business webinar attendees. I think based on what I ve seen and read, it s partly because of supply chain issues with COVID, but it s also being attributed to unintended blowbacks or consequences of our export-control and growing tech battle between the US and China, said Robert Oberlies.
By Reuters Staff
(Updates prices, adds analyst comment)
March 15 (Reuters) - Copper prices rose on Monday to their highest in almost two weeks, building on last week’s gains as industrial output growth in top metals consumer China accelerated faster than expected in January-February and concerns over global supply resurfaced.
Three-month copper on the London Metal Exchange was up 0.4% at $9,124.50 a tonne by 0350 GMT, after earlier rising to $9,199.50, the strongest since March 3.
The most-traded May copper contract on the Shanghai Futures Exchange climbed 1.1% to 67,770 yuan ($10,421.34) a tonne. Earlier in the day, it hit its highest since March 3 at 68,230 yuan.
China’s industrial output grew 35.1% in January-February from a year ago, beating a 30% surge expected in a Reuters poll and faster than the 7.3% gain in December, suggesting a sharp rebound of the world’s second-largest economy in the first quarter.