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☆ China, Airbus among potential losers from boosted US-Vietnam ties
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +5 min

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. But Washington's elevation to the same tier as Beijing in Vietnam's ranking will inevitably have an impact on China. The White House had no new arms deals to announce, but the new ties may facilitate future supplies from the U.S. or its partners. That would inevitably reduce Vietnam's reliance on Russian gear, although Hanoi is currently negotiating a new possible arms deal with Moscow. "We do not have any comment on a decision that does not involve Airbus," an Airbus spokesperson said.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Mao Ning, Joe Biden's, Biden, Carolyn Nash, Fluence, Germany's, Francesco Guarascio, Tim Hepher, Jamie Freed Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Washington, White, AIRBUS, U.S, planemaker Boeing, Vietnam Airlines, Airbus, Boeing, Amnesty International, Vietnam, Communist Party, Human Rights Watch, INDIA Washington, Nvidia, Microsoft, AES, SIEMENS, AMI, Honeywell, Nasdaq, Germany's Siemens, Siemens, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, United States, Washington, CHINA Vietnam, Beijing, China, Vietnam's, RUSSIA Vietnam, Russia, U.S, Moscow, Hanoi , U.S, Asia, MALAYSIA, INDIA, Malaysia, India, Paris

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeBoeing rises after Vietnam Airlines jet dealFutures up: Dow 0.23%, S&P 0.44%, Nasdaq 0.63%Sept 11 (Reuters) - Wall Street futures gained on Monday as Tesla shares rose, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. The three major indexes logged weekly declines on Friday as strength in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Data over the weekend showed China's consumer prices returned to positive territory in August, while factory-gate price declines slowed, as deflation pressures ease amid signs of stabilization in the economy.

Persons: Brendan McDermid, Morgan Stanley, Russ Mould, AJ Bell, Ankika Biswas, Shreyashi Sanyal, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Boeing, Vietnam Airlines, Dow, Nasdaq, Wall, U.S, Investors, FedWatch, Dow e, Apple, Hostess Brands, PDD Holdings, Baidu, Sunday, Thomson Locations: New York City, U.S, U.S . Federal, China, Bengaluru

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Deals unveiled by the White House during the trip include Vietnam Airlines' purchase of 50 Boeing 737 Max jets, in an agreement that it said was worth $7.8 billion, in line with an earlier Reuters report. The White House also announced plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. U.S. State Secretary Antony Blinken and Vietnam's investment minister Nguyen Chi Dung chaired the meeting, which was followed by discussions with Biden and Vietnam's Prime Minister Pham Minh Chinh.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Biden, Vietnam's FPT, Antony Blinken, Nguyen Chi Dung, Pham Minh Chinh, Dung, Phuong Nyugen, Nandita Bose, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, White, Max, Microsoft, Nvidia, Intel's, Honeywell, State, Vietnam's, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, chipmaking, Washington, China, Taiwan, U.S, United States

☆ Vietnam Air inks $7.8 bln deal for Boeing 737 max planes, White House says
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

An aircraft of the national flag carrier Vietnam Airlines taxis at Noi Bai airport in Hanoi, Vietnam December 23, 2020. REUTERS/Kham/file photo Acquire Licensing RightsSept 11 (Reuters) - The White House said on Monday that Vietnam Airlines' (HVN.HM) deal to buy 50 737 Max jets from U.S. planemaker Boeing (BA.N) is worth $7.8 billion. Boeing and Vietnam Airlines did not immediately respond to Reuters' requests for comment. The deal between the two companies was announced by the White House on Sunday. Boeing also has a deal with Vietnam Airlines' rival VietJet (VJC.HM) for the sale of 200 of its 737 MAX planes.

Persons: Joe Biden, Biden's, Vietnam's FPT, Shubham, Mrigank Dhaniwala Organizations: Vietnam Airlines, REUTERS, planemaker Boeing, Reuters, Vietnam Air, Boeing, White, International Air Transport Association, Microsoft, Nvidia, Thomson Locations: Noi Bai, Hanoi, Vietnam, Bengaluru

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Senior executives from Google (GOOGL.O), Intel (INTC.O), Amkor (AMKR.O), Marvell (MRVL.O), GlobalFoundries (GFS.O) and Boeing (BA.N) are attending the Vietnam-U.S. Newly unveiled deals by the White House include plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. Vietnam Airlines will also purchase 50 Boeing 737 Max jets, the White House said, in an agreement that a source told Reuters was valued at about $7.5 billion.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Antony Blinken, Nguyen Chi Dzung, Biden, Pham Minh Chinh, Vietnam's FPT, Phuong Nyugen, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, State, Vietnam's, White, Microsoft, Nvidia, Intel's, Max, Reuters, Honeywell, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, U.S, chipmaking, Washington, China, Taiwan . U.S

☆ Vietnam Air, Boeing near $7.5 billion deal for 50 737 max planes
▼ + stars: | 2023-09-10 | by ( ) www.cnbc.com time to read: +2 min

A Boeing 787 of Vietnam's state-owned airline, Vietnam Airlines, is taken to Frankfurt Airport's runway. Vietnam Airlines is expected to sign an initial agreement to buy about 50 Boeing 737 Max jets in a deal valued at about $7.5 billion, a person familiar with the talks told Reuters on Sunday. Boeing and Vietnam Airlines did not immediately respond to requests for comment. Boeing has a deal with Vietnam Airlines' rival VietJet (VJC.HM) for the sale of 200 of its 737 MAX planes. Boeing 737 Max jets were grounded worldwide for months after two fatal crashes in Indonesia and Ethiopia in 2018 and 2019.

Persons: Joe Biden Organizations: Boeing, Vietnam Airlines, Max, Reuters, International Air Transport Association Locations: Frankfurt, Hanoi, Vietnam, Indonesia, Ethiopia, Arlington , Virginia

The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT (FPT.HM), and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken. Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. Vingroup (VIC.HM), Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast , has a unit focussed on AI. Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Fanny Potkin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Leah Millis, Antony Blinken, Janet Yellen, Marvell, Francesco Guarascio @fraguarascio, Fanny Potkin, William Mallard Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, Intel, Google, Marvell, Boeing, Reuters, Sunday, Samsung, Qualcomm, Nasdaq, Thomson Locations: Washington , U.S, Rights HANOI, U.S, Hanoi, Vietnam, China, Taiwan

☆ Daniel Abed Khalife: UK government insists escaped terror suspect will be captured amid serious questions over rare jail break
▼ + stars: | 2023-09-07 | by ( Sugam Pokharel Niamh Kennedy Sana Noor Haq | Sugam Pokharel | Niamh Kennedy | ) edition.cnn.com time to read: +4 min

Authorities are hunting for 21-year-old Daniel Abed Khalife, who orchestrated a bold jail break from Wandsworth prison on Wednesday while dressed as a chef, according to London’s Metropolitan Police. Addressing the UK parliament on Thursday, Chalk said he had already ordered an internal probe into the decision to place Khalife in a lower-security jail. Who was on duty that morning, in what roles ranging from the kitchen to the prison gate, what protocols were in place,” Chalk said. Wandsworth prison is located in the southwest of the British capital. Staff shortagesLast year, the UK’s prison inspection watchdog warned staffing levels “remained a serious problem” at Wandsworth prison.

Persons: Daniel Abed Khalife, Alex Chalk, Chalk, ” Chalk, ”, “, Khalife, Rishi Sunak, Shabana Mahmood, Yui Mok, Gareth Fuller, Yvette Cooper, wasn’t, ” Cooper, ” HMIP, Michelle Donelan Organizations: London CNN, Metropolitan Police, UK’s, Media, PA Media, British, Labour, Tory Government, Port, Press Association, Shadow, Labour Party, BBC Radio, Staff, of Prisons, Government, Met, Gatwick Airport, CNN Locations: Wandsworth, ” ‘ State, Britain, Dover, Kent, England, Wales, London

☆ CEO spent his savings, 401(k) and paychecks to keep his cookware brand afloat—now it brings in over $170 million a year
▼ + stars: | 2023-09-06 | by ( Megan Sauer | ) www.cnbc.com time to read: +6 min

The timing was poor for bootstrapping: Winer and Mecray had just shuttered their first startup attempt, a juice presser company called Juicepresso. They maxed out credit cards, took out a small-business loan from American Express and packaged cookware sets in their backyards. It's grown steadily since, bringing in $170.7 million in revenue last year, according to documents reviewed by CNBC Make It. At its height in 2015, we brought in somewhere between $5 million and $6 million in revenue. To be honest, though, as soon as I started working on the pan, I knew it wasn't going to fail.

Persons: Gordon Ramsay's, HexClad, Danny Winer, Cole Mecray, Winer, Mecray, we'd, Jason Panzer, Ramsay, Cole, you'd, I'd, Warren Buffett Organizations: CNBC, bootstrapping, presser, American Express, Costco, Foods, New Locations: New York City

☆ VinFast’s volatile stock has an easy, painful fix
▼ + stars: | 2023-08-30 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

On Tuesday the Vietnamese nascent electric-car maker’s shares capped a flighty first fortnight as a publicly traded company by tumbling 44%. Yet the unprofitable manufacturer still sports a racy $107 billion market capitalisation courtesy of the previous eightfold rocketing of its stock since its merger with a blank cheque company in mid-August. Even with the wild swings, the stock trades almost five times higher than what already looked like a punchy valuation when the merger was announced in May. Granted, VinFast might not be desperate for cash – parent Vingroup (VIC.HM) and Vuong injected $2.5 billion in April. Absent a rapid rise in car sales, though, VinFast’s zippy valuation is heading for more crashes anyway.

Persons: Steve Marcus, David Mansfield, Le Thi, –, Pham Nhat Vuong, Vuong, it’s, VinFast, Una Galani, Thomas Shum Organizations: VinFast Global, Las Vegas Convention, REUTERS, Rights MELBOURNE, Reuters, VinFast Auto, Finance, Vietnam’s, Ford, GM, Thomson Locations: Las Vegas , Nevada, U.S

But in advance of this debate, I did go back and watch the 2015 Republican debate. michelle cottleOK. I’m going to jump in here with the message may be great, but the messenger was absolutely atrocious. But I thought it was really, really interesting. carlos lozadaNo, no, no, but no, here’s what — no, I mean, I’m not inclined to. And then, I’m going to put the interests of Americans first, which is just an America first riff.

Persons: lydia polgreen, ross douhat Bemusement, michelle cottle, polgreen Wow, ross douhat, lydia polgreen Carlos, carlos lozada Darkness, carlos lozada, Mike Pence, Lydia Polgreen, michelle cottle I’m Michelle Cottle, ross douhat I’m Ross Douthat, carlos lozada I’m Carlos Lozada, you’re, Vivek Ramaswamy, Ramaswamy, Ron DeSantis, Nikki Haley, Pence, carlos lozada That’s, Lydia, Prince, carlos lozada —, Tucker Carlson, Carlos, John Kasich, Scott Walker, Jeb Bush —, Ross, ross, It’s, he’s, Trump, lydia polgreen We’re, ross douhat Punditry, yammering, He’s, Michelle, that’s, — michelle cottle, she’s, She’s, lydia polgreen —, michelle cottle He’s, I’m, Obama, —, Chris Christie, Marco Rubio, Haley, michelle cottle ChatGPT, carlos lozada ChatGPT, ross douhat We’ve, — carlos lozada There’s, Pudding Fingers, DeSantis, unquote, ”, it’s, Christie, Tim Scott —, hasn’t, carlos lozada DeSantis’s, George Soros, — carlos lozada —, I’ve, ross douhat Totally, Donald Trump, — ross, Chris Christie can’t, ross douhat Trump, Tim Scott, Vivek’s, carlos lozada He’ll, — ross douhat, Tucker, Jeffrey Epstein, polgreen, Epstein, Biden, lydia polgreen He’s, They’re, Asa —, carlos lozada It’s, michelle cottle That’s, michelle cottle Oh, we’re, you’re Donald Trump, carlos lozada Well, who’s, Mel Gibson, Anthony Hopkins, Caroline Alexander, — carlos lozada, michelle cottle Aw, ross douhat It’s, David Grann, MOO, we’ve, “ MOO, ” ross, “, somebody’s, michelle cottle I’m Organizations: Indigo, Twitter, lydia polgreen From New York, Trump, Republican Party, Republican, Harvard, Ivy League, Fox, Fox News, Republican National Committee, Biden, Democratic, Trump Republican Party, Iowa Locations: United States of America, lydia polgreen From New, Trump, America, Washington, UN, New Hampshire, Ukraine, Iowa, Florida, Panama, China, Milwaukee, Lydia, There’s

REUTERS/Athit Perawongmetha/File Photo Acquire Licensing RightsHANOI/SINGAPORE, Aug 22 (Reuters) - Thailand's second-biggest lender Kasikornbank (KBANK.BK) is in talks to buy consumer finance provider Home Credit Vietnam in a deal of up to $1 billion that would further its push to expand in Vietnam, two sources said. The Bangkok-based lender, also called KBank, hopes to become one of Vietnam's top 20 banks in terms of assets by 2027. It has total assets worth $119.7 billion, second only to Bangkok Bank (BBL.BK) in Thailand, Refinitiv data showed. KBank and Home Credit Group did not respond to Reuters' requests for comments. Home Credit Group is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner.

Persons: Athit, KBank, Petr Kellner, Phuong Nguyen, Kane Wu Organizations: Kasikorn, REUTERS, Rights, Home Credit Vietnam, Bangkok Bank, Stock Commercial Bank, Sumitomo Mitsui, Home, Home Credit, Home Credit Group, Thomson Locations: Bangkok, Thailand, Rights HANOI, SINGAPORE, Vietnam, Vietnam Prosperity, Asia, Netherlands, Czech, Hanoi, Singapore

☆ Vietnam's EV firm skids for third session after debut boom
▼ + stars: | 2023-08-18 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

The loss-making company was last valued at $32.4 billion, compared to $85 billion in its Wall Street debut on Tuesday. With about 99% of the firm controlled by founder Pham Nhat Vuong, the small amount of publicly available shares makes the stock prone to volatility. Just $28 million worth of its shares had been traded by late morning, compared to $13 billion worth of shares in Tesla (TSLA.O), according to Refinitiv data. That may be a material overhang for VinFast shares for some time to come," Benowitz said. Shares of Vietnam's largest conglomerate and VinFast parent Vingroup (VIC.HM) closed down 7% in Ho Chi Minh trading.

Persons: Mike Blake, Pham Nhat Vuong, Jason Benowitz, Benowitz, Nikola, Medha Singh, Noel Randewich, Arun Koyyur Organizations: Los Angeles Auto, REUTERS, Nasdaq, U.S, Reuters, Roosevelt Investment Group, Faraday, Thomson Locations: Los Angeles , California, U.S, Tesla, Vietnam, VinFast, Ho Chi, Bengaluru

☆ Vietnam’s Tesla charges itself up for a big fall
▼ + stars: | 2023-08-16 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

VinFast (VFS.O) shares leapt 270% on Tuesday following the group’s $27 billion merger with a special purpose acquisition company (SPAC). It catapults the enterprise’s value to $90 billion, a grand outcome only possible because Vuong and related entities still own 99% of the Tesla (TSLA.O) wannabe. The pop values the unprofitable Vietnamese company at 142 times its sales in 2022, some 16 times Tesla’s multiple. VinFast has pushed back plans to operate its $4 billion plant in North Carolina by a year to 2025. Ultimately, VinFast is heavily reliant on Vuong who is betting big on electric vehicles.

Persons: Mike Blake, Pham Nhat Vuong, Rivian, VinFast, topline, David Mansfield, Reuters Breakingviews, Una Galani, Thomas Shum Organizations: Los Angeles Auto, REUTERS, Rights, Reuters, Tesla, Elon Musk’s, P Global Mobility, Nasdaq, Thomson Locations: Los Angeles , California, U.S, North Carolina, Vingroup

A few hours before its Nasdaq debut, VinFast more than doubled its value in premarket trading involving less than 4% of its shares. Nikola now commands a market value of $1.4 billion, versus $13.9 billion before listing while Lucid has a current market value of $15.5 billion, versus $24 billion during its 2021 SPAC deal. It is still unclear how many of the company shares will trade on Tuesday and at what price. VinFast's founder, Vietnam's richest man Pham Nhat Vuong, pledged $2.5 billion in April to bolster the EV maker, including $1 billion from his personal fortune. He is the beneficial owner of 99% of the ordinary shares of the EV maker after the merger.

Persons: Mike Blake, Black Spade, Nikola Corp, Nikola, Lucid, Rivian, Pham Nhat Vuong, VinFast, Phuong Nguyen, Yantoultra, Jaiveer Singh, Francesco Guarascio Organizations: Los Angeles Auto, REUTERS, Nasdaq, Nikola, Tesla Inc, Rivian Automotive Inc, VinFast, P Global Mobility, Investors, Thomson Locations: Los Angeles , California, U.S, HANOI, Dealogic, North Carolina, Vietnam, United States

☆ Offshore wind turbine catches fire off east coast of Britain
▼ + stars: | 2023-08-15 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

An aerial view shows wind turbines at RWE's Scroby Sands Wind Farm, off the coast of Great Yarmouth, eastern England, on February 15, 2023. LONDON — An offshore wind turbine in the North Sea caught fire Tuesday, with all personnel evacuated and accounted for. The turbine is part of the Scroby Sands Offshore Wind Farm, which has a capacity of 60 megawatts. It is owned and operated by RWE Offshore Wind. In a statement sent to CNBC Tuesday, a Maritime and Coastguard Agency spokesperson said: "HM Coastguard has been monitoring a wind turbine on fire at the Scroby Sands Wind Farm today … off the coast of Great Yarmouth."

Organizations: RWE, CNBC, Maritime and Coastguard Agency, Coastguard Locations: Great Yarmouth, England

☆ Fact Check-Muslims not exempt from stamp duty on UK property purchases
▼ + stars: | 2023-08-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

False claims are spreading on social media that Muslims in the UK are exempt from paying stamp duty, a tax paid when buying property or land. In fact, stamp duty relief rules for Sharia-compliant alternative mortgages stop the levy being paid twice, but stamp duty is still ultimately financed by the buyer. Social media accounts, including here , claim Muslims are exempt from stamp duty charges. Stamp duty relief was introduced in 2003 to end stamp duty charges on both transactions. The rules ensure the same outcome and amount of stamp duty payable as for conventional mortgages, a spokesperson for HMRC said.

Persons: Read Organizations: HM Revenue, Customs, HMRC, Reuters Locations: England, Northern Ireland, Wales, Scotland, Britain

☆ Vietnam EV maker VinFast to list in the U.S. in August after regulator nod
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

HANOI, July 28 (Reuters) - Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination. VinFast, a unit of Vietnam's biggest conglomerate Vingroup (VIC.HM), announced in May it would go public through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, they said in a joint statement. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast, the joint statement said.

Persons: VinFast, Black Spade, Dennis Tam, Phuong Nguyen, Louise Heavens Organizations: Securities and Exchange Commission, SEC, Spade, Thomson Locations: HANOI, United States

☆ How investigative journalists and a Netflix film kept the focus on the Gilgo Beach victims over a decade
▼ + stars: | 2023-07-22 | by ( Eric Levenson | ) edition.cnn.com time to read: +10 min

Watch The Whole Story with Anderson Cooper: The Gilgo Beach Killer Sunday at 8 p.m. The bodies of four women were among nearly a dozen sets of human remains found near Gilgo Beach and Ocean Parkway on Long Island. Suffolk County Police DepartmentHeuermann has pleaded not guilty to the murders of Megan Waterman, Melissa Barthelemy and Amber Lynn Costello. A major corruption scandal within Suffolk County law enforcement did not help the matter. Notably, a day after he was arrested, the Suffolk County police deputy commissioner announced that the FBI would join the investigation into the Gilgo Beach murders.

Persons: Anderson Cooper, Shannan Gilbert, Long, Gilbert, WH ”, ”, Spencer Platt, Rodney Harrison, Rex Heuermann, Heuermann, Melissa Barthelemy, Maureen Brainard, Barnes, Amber Lynn Costello, Megan Waterman, Suffolk County Police Department Heuermann, “ It’s, ” Robert Kolker, CNN International’s Rosemary, “, it’s, ” Kolker, “ There’s, who’s, Kolker, Ellen Killoran, Erin Moriarty, Amy Ryan, Liz Garbus, Shannan, Mari, Mari Gilbert, Garbus, James Burke, Burke, Thomas J, Spota, Christopher McPartland, Harrison, Heuermann’s, he’s, Ray Tierney, I’m Organizations: CNN, Netflix, Getty, Suffolk County Police, FBI, Force, Suffolk County Police Department, CNN International’s, “ People Magazine, New York Times, Authorities, Long Island Press, Golden State, Attorney Locations: Shore, Gilgo Beach, Long, Suffolk County, Suffolk

☆ Vietnam EV maker VinFast to start construction of US factory next week
▼ + stars: | 2023-07-19 | by ( Phuong Nguyen | ) www.reuters.com time to read: +1 min

HANOI, July 19 (Reuters) - Vietnamese automaker VinFast said on Wednesday it would start construction of a $4 billion electric vehicle factory in North Carolina next week as part of its push to expand in the United States market. The unit of Vietnam's largest conglomerate Vingroup (VIC.HM), which began operations in 2019, announced plans for the U.S. factory last year. It is targeting the start of production in 2025, a year later than its initial plan. "When it begins operations, the factory will be VinFast's primary supplier of electric vehicles to the North American market," said Thuy Le, head of VinFast Auto. The project's first phase includes a $2 billion investment in a factory capable of producing 150,000 vehicles a year.

Persons: VinFast, Thuy Le, Tesla, China's, Vinfast, Phuong Nguyen, Jamie Freed Organizations: U.S, North, VinFast Auto, Spade, Thomson Locations: HANOI, North Carolina, United States, North American, California

Vietnam targets LNG-sourced gas generating up to 22.4 gigawatts (GW) of power by 2030, enough to power 20 million households and account for nearly 15% of national power supply. Complicating LNG efforts, much of Vietnam's planned gas power investment is directed to the south of the country despite the under-served north's greater vulnerability to blackouts. Reuters GraphicsThe first plant due to come online, the Nhon Trach 3 facility being built by state-run PetroVietnam Power (PV Power) (POW.HM) near Ho Chi Minh City, is scheduled to begin operation in late 2024. Takafumi Akino of Tokyo Gas, which is building an LNG terminal and a gas plant in northern Quang Ninh province, predicted "hard negotiations". PV Gas said this month it was in talks with U.S. energy giant ExxonMobil and Russia's Novatek on LNG cooperation.

Persons: Thi, Kaushal Ramesh, EVN, Japan's Marubeni, Takafumi, Rystad's Ramesh, Francesco Guarascio, Khanh, Emily Chow, Florence Tan, Phuong Nguyen, Tony Munroe, William Mallard Organizations: European Chamber of Commerce, Reuters, Energy, Tokyo Gas, Industry, Plant, Foreign, Delta Offshore Energy, Gulf International Holdings, Delta Offshore, Gulf Energy Development, Buyers, PV Gas, ExxonMobil, Russia's, Gas, Thomson Locations: Vietnam, Hanoi, HANOI, China, Thailand, Singapore, Philippines, Ho Chi Minh City, Oslo, U.S, Tokyo, Quang Ninh, South, Southeast Asia, Asia, Khanh Vu

☆ I'm the director of innovation at Imperial College London, and I don't think tech is the be-all and end-all to the climate crisis
▼ + stars: | 2023-07-07 | by ( Alyssa Gilbert | ) www.businessinsider.com time to read: +5 min

The global nature of the climate crisis demands innovation that mobilizes international support. This article is part of "Gains in Green Tech," a series showcasing some of the most transformative solutions to the climate crisis. In essence, we need innovation across business models, products, and services to unlock solutions that are already available to us. It implies that we don't need to modify our lifestyles to tackle the climate crisis. Tackling the climate crisis requires plenty of innovation — perhaps not all of it shiny tech.

Persons: Seratech, Sandberg, yasin hm, Alyssa Gilbert Organizations: Green Tech, Service, International Energy Agency

☆ Vietnam EV maker Vinfast expects to break even by end-2024 - founder
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

HANOI, May 17 (Reuters) - Vietnam's electric automaker VinFast expects to break even by the end of 2024, its founder said on Wednesday. Vinfast will also launch an EV-pickup truck and a city or "mini car" as future models, Pham Nhat Vuong, chairman of conglomerate Vingroup (VIC.HM) and founder of its auto unit VinFast, told investors at the company's annual general meeting. VinFast said earlier this month that it would list in the United States via a merger with a special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.N). VinFast, which is looking to break into the U.S. and European markets for electric cars, had earlier received funding pleges of $2.5 billion from Vingroup, Vietnam's largest conglomerate, and its founder, Vuong, Vietnam's first billionaire. Reporting by Phuong Nguyen in Hanoi and Kevin Krolicki in Singapore; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

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