According to two sources who have seen the lab results, China’s CoronaVac, its COVID-19 vaccine, developed by Sinovac Biotech, has a general efficacy of less than 60% in clinical trial in Brazil. Brazil’s Sao Paulo’s Butantan biomedical center, which has… Read More ›
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ArcelorMittal SA, Nippon Steel Corp to build electric arc furnace at joint venture factory in Alabama
On Tuesday, ArcelorMittal SA and Nippon Steel Corp will spend $775 million to build an electric arc furnace at their U.S. joint venture in Alabama. They plan on starting a production during the first half of 2023, said Nippon Steel…. Read More ›
Tesla secures lithium ore supply chain, signs deal with Australian miner Piedmont Lithium
On Monday, Australian lithium miner Piedmont Lithium stated, it has signed a five-year deal with U.S. electric carmaker Tesla Inc for the supply of high-purity lithium ore mineral. With the news reaching the market Piedmont Lithium’s shares surged by 83%,… Read More ›
GM to produce 1.5M face masks a month in Mexico from this month end
In a statement, General Motors Co said, by the end of April it will start producing 1.5 million face masks a month at its Mexican factory, located in the city of Toluca and will aim to produce 9 million masks… Read More ›
Q1 of 2020 saw China import $5.05 billion of U.S. agricultural produce
According to customs data, in the first three months of this year, China imported U.S. farm goods worth $5.05 billion (35.56 billion yuan), up by 110% from last year. Under the phase 1 trade deal, China has committed to purchasing… Read More ›
3M will pay big price over face masks: Trump
In a tweet, U.S. President Donald Trump has slammed 3M Co for its business practises. The tweet comes in the wake of Trump’s earlier announcement of invoking the Defense Production Act to get the company to produce face masks. “We… Read More ›
Apple unlikely to meet revenue guidance because of coronavirus
Weakening demand in China along with lost production due to China’s coronavirus has prompted Apple Inc to revise its sales target which it set just three weeks ago. So far the coronavirus pandemic has killed 1,770 people in China with… Read More ›
Toyota & Panasonic teams up to produce prismatic electric vehicle batteries
On Monday, in a joint statement, Toyota Motor Corp and Panasonic Corp stated, they have agreed to set up a joint venture which will specialize in producing prismatic electric vehicle batteries. Prismatic electric vehicle batteries developed by the joint venture… Read More ›
Germany takes steps to protect key industries from takeover by foreign powers
On Friday, in a significant development, German Economy Minister Peter Altmaier said, it is critical that Germany sets up a new government body which will have the power to quickly decide whether it should take stakes in strategic domestic companies… Read More ›
China to lift import tariffs on limited agricultural products
On August 6, 2019, China had stated it would stop importing U.S. agricultural products. It now plans on lifting import restrictions on a limited number of items. On Wednesday, China’s Ministry of Commerce stated, it plans on removing import tariffs… Read More ›