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Tesla sales cratered in China, but investors don't seem to mind Posted by: superadmin - 08-11-2021, 02:49 PM - Forum: Business, Economy and Investment - No Replies New York (CNN Business)Tesla sales dropped sharply in China, according to a trade group report, suggesting it is losing ground in the world's largest market for both traditional and electric vehicles. The China Passenger Car Association reported that Tesla's sales in China fell to 8,621 cars in July, down nearly 70% from June. But the export of cars built at Tesla's Shanghai plant jumped to 24,347 for July, compared with 5,017 in June. That means total sales of Chinese-built Teslas fell less than 1% overall. Critics say the steep decline of sales to Chinese consumers is yet another sign of the growing problems the company faces in the country. Tesla is contending with increased competition from Chinese EV makers as well as a run of bad publicity, including a recall of virtually all of the cars that have been built in Shanghai. The company also faced protests by Telsa owners at this year's Shanghai auto show over poor car quality and various safety concerns flagged by Chinese regulators. Teslas accounted for just 3.9% of July sales of battery electric vehicles in China, down from 12.6% in June, said analyst Gordon Johnson, who has been among the harshest critics of the company. He said that decline shows Tesla is facing fiercer competition from local EV startups. "Overall, it now seems clear that Tesla has overbuilt Chinese capacity when compared to domestic demand, which will result in further price cuts and margin pressure," Johnson said. "Given China is supposed to be Tesla's 'growth market,' these numbers should concern any Tesla bull." - More -   Muhyiddin to meet party leaders as govt teeters Posted by: superadmin - 08-11-2021, 01:30 PM - Forum: Politics - No Replies PETALING JAYA: Prime Minister Muhyiddin Yassin, whose government now looks to be on the brink of collapse, is expected to meet all party leaders who are aligned to him today. Among the items on the agenda are a plan to bring forward the parliamentary sitting to next week and to dissolve Parliament. A party insider said the venue of the meeting has yet to be decided but will likely be held at the Prime Minister’s Office. “The meeting is expected to be held after the Cabinet meeting today,” he told FMT. He said they will discuss the question of Muhyiddin’s majority support in the Dewan Rakyat and the way forward. - More -   Coalition of NGOs wants Parliament to sit on Friday, PM to prove majority Posted by: superadmin - 08-11-2021, 12:35 PM - Forum: Politics - No Replies PETALING JAYA: A coalition of nearly 40 NGOs has called on the Yang di-Pertuan Agong to use his power and discretion to instruct Prime Minister Muhyiddin Yassin to reconvene Parliament immediately. In a memorandum submitted to Istana Negara this morning, Gabungan Bertindak Rakyat Malaysia urged Muhyiddin to reconvene Parliament on Friday instead of September. “The decision to postpone the sitting has also sparked controversial political polemic, more so since there is no rational and significant basis to justify the move. “We take it that the prime minister is buying time to enable him to garner as much support from MPs as possible,” the coalition’s coordinator, Mustafa Mansor, told reporters after handing over the memorandum to a palace official. - More -   Come clean over RM11.5bil borrowings, watchdog tells Putrajaya Posted by: superadmin - 08-11-2021, 12:30 PM - Forum: Politics - No Replies PETALING JAYA: An anti-corruption watchdog has questioned why the government borrowed RM11.5 billion in a span of 10 days, and demanded that the Perikatan Nasional government be transparent over the loans. The Center to Combat Corruption and Cronyism (C4) said the government needs to account for the money. “PN must account for what is on Bank Negara Malaysia’s website,” its executive director, Cynthia Gabriel, told FMT. On Monday, former prime minister Najib Razak had questioned the government over the billions in borrowings in 10 days. In a Facebook post, Najib included screenshots of details from the BNM website showing billions of ringgit in bonds issued by the government with the central bank as the facility agent. - More -   King reminds PM on what constitution says about MPs’ support Posted by: superadmin - 08-11-2021, 12:23 PM - Forum: Politics - No Replies PETALING JAYA: The Yang di-Pertuan Agong reminded Muhyiddin Yassin during a routine audience today on what the Federal Constitution says about losing the majority support of MPs, says a source. According to the well-placed source at Istana Negara, the King did not explicitly instruct Muhyiddin to resign over the loss of his majority support. “But Tuanku touched on Article 43(4) of the constitution,” the source told FMT. Article 43(4) states: “If the prime minister ceases to command the confidence of the majority of the members of the House of Representatives, then, unless at his request the Yang di-Pertuan Agong dissolves Parliament, the prime minister shall tender the resignation of the Cabinet.” Sultan Abdullah Sultan Ahmad Shah had granted Muhyiddin an audience today as part of the prime minister’s weekly pre-Cabinet meeting with the King. - More -   Dominion Voting Systems sues Newsmax and One America News for 'barrage of lies' Posted by: superadmin - 08-11-2021, 09:32 AM - Forum: Politics - No Replies Dominion Voting Systems sues Newsmax and One America News for 'barrage of lies' targeting the company New York (CNN Business)Dominion Voting Systems, a technology company that was targeted with disinformation by former President Donald Trump and allies, filed lawsuits on Tuesday against two right-wing television channels, alleging they aided the spread of baseless conspiracy theories about its role in the 2020 election. The lawsuits, which are the latest in a string of legal action from the company, name Newsmax and One America News as defendants. The lawsuit against OAN also named two of the network's far-right personalities, Chanel Rion and Christina Bobb, as well as the network's owners, Robert and Charles Herring. John Poulos, the chief executive of Dominion, said in a statement that the networks "disregarded the truth when they spread lies in November" and that they "continue to do so today." In the immediate aftermath of the 2020 election, then-President Trump falsely asserted that the election had been rigged against him. His media allies promoted outlandish conspiracy theories about Dominion to support Trump's false claims. In its lawsuit against Newsmax, Dominion said that the channel "created an entire brand out of defaming" the company. And in its lawsuit against OAN, Dominion said that for the right-wing channel, "facts did not matter." - More -   Pakatan MPs slam attempt to limit attendance in Parliament Posted by: superadmin - 08-11-2021, 09:19 AM - Forum: Politics - No Replies PETALING JAYA: Pakatan Harapan MPs are up in arms over the news that there may be a limit to the number of MPs allowed to attend next month’s Parliament sitting. Citing concerns about the spread of Covid-19, deputy speaker Mohd Rashid Hasnon today said that the Dewan Rakyat committee will hold discussions with the government and opposition chief whips to determine the number of MPs allowed to attend the next Parliamentary session, which is set to start on Sept 6. “I think they are really trying to make it difficult for Parliament to function properly and are throwing every spanner at it to make sure it isn’t operating,” DAP’s Charles Santiago said. “This just shows how low they will go,” he said, adding that Parliament should be an independent office as opposed to being “a side office of the government”. The Klang MP was also concerned that the proposal may be linked to the vote of confidence Prime Minister Muhyiddin Yassin is due to face in the September sitting. - More -   Muhyiddin has lost majority but don’t count him out yet, say analysts Posted by: superadmin - 08-11-2021, 09:08 AM - Forum: Politics - No Replies PETALING JAYA: Analysts agree that statements from MPs indicate Prime Minister Muhyiddin Yassin has now lost majority support but they say he will likely remain safe at least until Parliament sits or the Yang di-Pertuan Agong calls for a head count. Awang Azman Pawi of University Malaya said Muhyiddin held an advantage in the current power play because of his control over the Registrar of Societies and other government agencies. He also spoke of a possibility that some opposition MPs might have struck an understanding with Muhyiddin’s Bersatu and agreed to absent themselves from Parliament if a vote of no confidence were to be scheduled. “Some may call in sick or may give some other excuses, giving Muhyiddin the advantage,” he said. - More -   Malaysia hanging by a thread Posted by: superadmin - 08-11-2021, 08:57 AM - Forum: Politics - No Replies From Munir Majid As we approach Merdeka day at the end of the month there is no cause for joy and celebration. There is only fear and trepidation. There is Covid-19 of course, tearing into our lives immediately and now, developing into a further pandemic of the more transmissible Delta variant which is running laps around other strains, described by a virologist: “It’s just like ‘Jurassic Park’, the moment you realize the dinosaurs have all got loose again.” Francis Fukuyama, one of the world’s leading political scientists, identified three factors responsible for successful pandemic responses – A competent state apparatus A government that citizens trust and listen to Effective leaders Malaysia has none of these. Instead, we have had barricades against the test of confidence and support, and a free-for-all to grab power. There is actually no person in this political struggle who can effectively and competently lead Malaysia with the support of the people. Meanwhile, the pandemic rages. - More -   Malaysia 6th highest in the world in Covid cases per capita Posted by: superadmin - 08-11-2021, 08:48 AM - Forum: Covid-19 Pandemic - No Replies PETALING JAYA: Malaysia last week recorded the sixth highest number of daily new Covid-19 cases per capita in the world, according to data tracker Our World in Data. The country was behind Fiji, Cuba, Botswana, Georgia and Cyprus. The tracker also ranked Malaysia 17th among countries with the highest number of new Covid-19 deaths per capita at 5.25 fatalities per million people on a seven-day rolling average, behind Indonesia (6.30) and Myanmar (6.64). Azrul Mohd Khalib, CEO of the Galen Centre for Health and Social Policy, told FMT he believed this was a result of a combination of factors, including spreader events linked to political, religious and cultural activities, the emergence of the Delta mutation and also the ineffectiveness of lockdown measures. He said the authorities needed to look at data linked to rising hospital admissions, ICU rates and deaths, which would clearly tell how Malaysia’s public health measures had produced “mixed, inconsistent and unsustainable” results. - More - Pages (1152): « Previous 1 … 914 915 916 917 918 … 1152 Next » Jump to page: