lithium-ion battery explosion

Alibaba Cloud disrupted after fire at Digital Realty datacenter in Singapore

September 11, 2024

7-Eleven owner and Couche-Tard sign NDA for takeover talks
() — Canada’s Alimentation Couche-Tard said on Wednesday that it has signed a non-disclosure agreement with Japanese retail giant Seven & i Holdings for its takeover offer. The detailed terms of the agreement will remain confidential, Seven & i said in a separate statement.
Heart Aerospace’s US move shows Europe is ‘driving innovation away’
Swedish electric plane startup Heart Aerospace is relocating its headquarters from Gothenburg to Los Angeles in a move it says will “bolster product development.” The company will lay off all of its 75 employees in Sweden, company spokesperson Christina Zander told TNW. “Recruitment in the US is ongoing,” she added. Founded in 2018, Heart Aerospace…
Europe’s biggest blackout made me confront my dependence on tech
Unprecedented power cuts swept across Portugal, Spain, and parts of France on Monday — instantly unravelling the tech-dependent lives of me and tens of millions of others. At first, I wasn’t worried. Then the owner of my Lisbon apartment forwarded me a link: an article in The Sun newspaper titled “Spain & Portugal hit by…
Indonesia’s free meals marred by missed payments and poisoning
JAKARTA — Nearly four months after Indonesian President Prabowo Subianto launched his ambitious free meals for children program, missed payments to vendors, a lawsuit and incidents of food poisoning are tarnishing this flagship policy. Officially rolled out in early Janu, the program had reached 3.26 million recipients as of Tuesday, including children from infants to…
America’s oldest bank looks to Japan amid global uncertainty
TOKYO — Bank of New York Mellon is bolstering its Japan operations, seeing opportunities to make money as the country emerges from deflation and its people become more open to investing in the stock market. BNY, a processing bank, provides infrastructure for global banks, central banks, sovereign wealth funds, pension funds and insurers. It clears…
Global auto output to shrink 2% on Trump tariffs: forecast
NEW YORK — Global automobile production is on track to decline 2% on the year to 87.9 million vehicles in 2025 as a result of the Trump administration’s tariffs, a new forecast for the industry shows. S&P Global Mobility estimates that output will shrink 1.55 million vehicles compared with 2024. The drop exceeds the roughly…
Japan, China, South Korea and ASEAN to widen currency safety net
TOKYO — Japan, China, South Korea and ASEAN are expected as early as this month to expand an aid program designed for financial crises to include infectious disease outbreaks and natural disasters. The program, known as the Chiang Mai Initiative, was created after the 1997-98 Asian financial crisis. The goal is to prevent defaults by…
7-Eleven parent’s leadership picks backed by US proxy adviser
TOKYO — U.S. proxy adviser Institutional Shareholder Service has endorsed Seven & i Holdings’ new leadership appointments, including Stephen Hayes Dacus as CEO and Vice President Junro Ito as chairman. With no competing proposals ahead of the 7-Eleven parent’s general shareholders meeting in late May, the ISS endorsement is seen as a boost for the…
Malaysia, Vietnam drove rush of exports to US ahead of tariffs
HO CHI MINH CITY/SINGAPORE/BANGKOK — Southeast Asian countries boosted exports to the U.S. ahead of President Donald Trump announcing his “reciprocal” tariffs in April, but there are concerns that this will only eat into American demand for manufactured goods later this year. Malaysia’s exports to the U.S. in March climbed 51% on the year to…