Tue, Jan 01, 2019 - Page 10 News List

World Business Quick Take



Tesla to build ‘Gigafactory 3’

Tesla Inc is getting ready to break ground on its factory and chief executive officer Elon Musk cannot wait to visit. “Looking forward to visiting soon for the groundbreaking of Gigafactory Shanghai,” Musk tweeted yesterday. He did not provide a date for the visit. The Chinese plant — dubbed “Gigafactory 3” — would be the biggest foreign-invested manufacturing project in Shanghai. The US company has secured more than 81 hectares of land for the factory, which is expected to cost several billion dollars to build.


China ends licensing freeze

China has approved 80 video game titles in the first batch of licenses granted by the media regulator after the end of a nine-month freeze. The games were mostly local titles and did not include any from Tencent Holdings Ltd (騰訊) or Netease Inc (網易). The notice of approvals was posted online by the Chinese State Administration of Press, Publication, Radio, Film and Television. The suspension stemmed from Beijing’s campaign to combat gaming addiction and a reshuffle of regulators.


Ukrainian imports banned

The government on Saturday announced a ban on dozens of imported products from Ukraine in its latest economic sanctions targeting Kiev. The products to be banned included chocolate, wheat and beer as well as sunflower oil, bread, jam, children’s diapers and wine, the government said in a statement. The ban would come into force immediately, it said, adding that it was imposed due to “unfriendly acts by Ukraine” since the outbreak of the armed conflict in eastern Ukraine in 2014.


Google lawsuit dropped

A lawsuit filed against Google by users who said that the world’s largest search engine breached their privacy by using facial recognition technology was dismissed by a judge on Saturday. US District Judge Edmond E. Chang in Chicago cited a lack of “concrete injuries.” The suit, initially filed in March 2016, said that the firm allegedly collected biometric data from photographs using facial recognition software, running afoul of an Illinois law against using a person’s image without permission.


Verizon users retain ESPN

Subscribers of Verizon Communications Inc can continue to watch ESPN, ABC and other channels owned by Walt Disney Co after the two companies announced a deal over programming fees. “Verizon and the Walt Disney Co have reached a broad-based distribution agreement,” the telecommunications giant and the entertainment company said in a joint statement on Sunday. Details would be released in the coming days, it added. Without an agreement before yesterday’s deadline, Verizon’s FIOS network would have stopped carrying Disney channels.


New capital expansion stalls

Talks between the government and the Dubai-based Emaar Properties PJSC to develop a 607 hectare plot in the new administrative capital have stalled, underscoring officials’ struggle to involve top-tier foreign companies in the mega project. “The negotiations have stopped,” Ahmed Zaki Abdeen, head of Administrative Capital for Urban Development, the firm created to oversee the project, said on Sunday. China Fortune Land Development Co (華夏幸福) early last month pulled out from a US$20 billion development in the new capital.

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