Media Focus on Multinational Corporations





Total investment by Samsung in the second phase of its chip plant in Xi'an, capital of Northwest China's Shaanxi province, will exceed $14 billion, sources with Samsung China Semiconductor Co Ltd said Friday. It is expected to begin mass production in the first quarter of 2020, according to the company. (China Daily)

Air Chinhas formally requested compensation from Boeing Co for the grounding of its 15 737 MAX aircraft and delayed deliveries of future planes. China Southern Airlines, another of China's 'big three' State-run carriers, has also officially asked the US aircraft-maker for compensation involving its 24 grounded MAX aircraft and postponed deliveries of such planes. (China Daily)

SK Innovation said that it plans to invest 579.9 billion won ($488.3 million) to build its second China factory for electric vehicle (EV) batteries, in a bet that China will open up its market to South Korean battery makers. SK Innovation said its second China factory aims to meet rising orders for EV batteries globally. (China Daily)

EE, a division of BT group, announced its plan to launch its 5G networks on May 30, including the participation of smartphones made by Samsung, LG, China's Oppo and OnePlus, but the company said it has excluded Huawei's phones from its original launch plan because of uncertainty around the Chinese technology giant's future. (China Daily) 

Huawei on Tuesday reaffirmed its commitment to roll out 5G 'the European way', at a debate held at the Huawei Cybersecurity Transparency Center. 'Huawei's 5G has been co-developed by Europeans and is tailor-made for Europe's needs and challenges,' said Abraham Liu, Huawei's Chief Representative to the EU Institutions, in a speech. (National Business Daily)


Bank of Communications launched a branch on Monday as it plans to step up its support to Chinese investment in Europe. The services provided by the Prague Branch will include account services, corporate financing services, international settlement and trade financing services, and treasury services. (National Business Daily)

Daimler CEO Dieter Zetsche is handing off to his successor after 13 years at the helm warning that the company will need to cut costs to invest in new technologies that are transforming the industry. Zetsche said the company would increase investment in research and development for battery-driven cars as well as new driver assistance systems and autonomous vehicle technology. (National Business Daily)

Qualcomm Inc illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees, a US judge ruled, a decision that could force the company to overhaul its business practices. The decision caused Qualcomm shares to plunge 11.4 percent on Wednesday. (National Business Daily)

Toyota Motor Corp last month announced two deals in China that were small in size but large in strategic planning. The automaker said it would establish a green-technology research institute with China's Tsinghua University and provide state-owned BAIC Group's Foton unit with fuel-cell technology for buses. But before it could feel comfortable unveiling those plans, Toyota put in months of work to pledge fresh investment in the US. (Global Times)

British Steel Ltd has been ordered into liquidation as it struggles with industry-wide troubles and Brexit, threatening 5,000 workers and another 20,000 jobs in the supply chain. The company had asked for a package of support to tackle issues related to Britain's pending departure from the European Union. Talks with the government failed to secure a bailout, and the Insolvency Service announced the liquidation on Wednesday. (Global Times)

Tesla said on Thursday it plans to raise more than $2 billion new capital, with $650 million of that coming from shares of common stock. CEO Elon Musk will participate in the capital raise, purchasing 41,896 shares of the company’s stock, worth $10 million, in the new offering, according to a Securities and Exchange Commission filing. (Global Times)

ZTE opened its first European cybersecurity lab in Rome on Tuesday, which would allow source code review on its products from Italy. The lab aims to provide global customers, regulators and other stakeholders with security assessment and audit services, such as source code review on ZTE products including 4G and 5G, security design audit, procedural document review, black box testing and penetration testing. (Global Times)