China’s Volvo Cars stop production citing chip shortage

China’s Geely Holding-owned Volvo Cars will temporarily stop production at its Swedish plant in Gothenburg because of a shortage of semiconductors. A global crunch of chips has hit carmakers hard, with many forced to cut down on production. Electronic device makers are also struggling to keep up with a pandemic-led demand for gaming consoles, phones,…

China’s Sichuan Yahua Industrial Group signs 5 year battery grade lithium supply deal with Tesla

In a statement China’s Sichuan Yahua Industrial Group Co Ltd stated, it has signed a deal to supply battery-grade lithium hydroxide to Tesla Inc for the next five years. According to a filing in the Shenzhen Stock Exchange, Yahua has placed the total value of the contract, signed by its wholly-owned subsidiary Yaan Lithium, at…

Trading in New Zealand’s stock market resumes following 4 consecutive days of offshore DDoS cyber attacks

On Friday, trading resumed at New Zealand’s stock exchange following offshore Distributed Denial Of Service (DDoS) offshore cyber attacks for four consecutive days. In a statement, the government said, national security systems had been activated to support the bourse. While the origin of the “offshore” DDoS attack is being investigated, the failure to stop the…

Panasonic’s Q1 profits at Tesla’s Gigafactory boost investor confidence in EV market

On Tuesday, following Panasonic Corp’s first quarter report, shares of Asian companies in Tesla Inc’s battery supply chain surged. Panasonic’s battery venture with Tesla has boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s Gigafactory is also another validation of Tesla founder Elon…

Shares of chipmakers rise in European bourses on expectation of a Phase One U.S.-China trade deal

On Tuesday, shares of chipmakers in European bourses rose in anticipation for a potential U.S.-China trade deal. Investors will be looking for clues in a key speech from U.S. President Donald Trump. The pan-European STOXX 600 index edged slightly higher by 0840 GMT, with technology stocks rising by 0.3%. Investors are keenly awaiting a speech…