COMPANY NEWS IN BRIEF
Apple launches MacBook laptops
Apple Inc introduced a MacBook Air notebook and other machines with its first central processor designed in-house for Macs, a move that will tie its computers and iPhones closer together technologically.
The new chip, called the M1, marks a shift away from Intel Corp technology that has driven the electronic brains of Mac computers for nearly 15 years.
It is a boon for Apple computers, which are overshadowed by the company's iPhone but still rack up tens of billions of dollars in sales per year. Apple hopes developers now will create families of apps that work on both its computers and phones.
The MacBook Air will start at US$999, the same as its predecessor, and have up to twice the battery life, Apple said. The M1 will also power the MacBook Pro notebook, which starts at US$1299, and its US$699 Mac Mini computer, which comes without a monitor.
Patrick Moorhead, founder of Moor Insights & Strategy, estimated Apple will save between US$150 and US$200 per chip in costs by using its own central processors. "We didn't see Apple add any expensive features," he said. "They're going with a much higher margin."- Nampa/Reuters
United Airlines returns to New York's JFK
United Airlines said it is returning to New York's John F. Kennedy Airport (JFK) on Feb. 1, 2021, ending a five-year absence in a move it hopes will tap into pent-up demand for transcontinental travel hit by the pandemic.
The US carrier is re-launching service with daily flights to Los Angeles and San Francisco from JFK, which is also a major hub for international travel and normally one of the country's busiest airports, on a reconfigured Boeing 767-300ER with expanded premium seating.
Air travel demand has been severely bruised by the Covid-19 crisis and is expected to remain depressed until there is a widely distributed treatment or vaccines, forcing airlines to drastically scale back their flight schedules.
However, United has found that as people slowly start traveling again, the ones who have taken flights in the midst of the pandemic are more likely to travel again, chief communications officer Josh Earnest said on a call with journalists.
This is allowing the airline to build up a base of customers who are comfortable about air travel, he said, giving it some optimism about an improvement in demand even as it remains "realistic that we are far below the levels that we experienced just one year ago," Earnest said. - Nampa/Reuters
Shell to cut jobs at Singapore’s refinery
Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce its carbon emissions.
The refinery on Pulau Bukom, a small island in the Southeast Asian city-state, can process 500 000 barrels per day (bpd) of oil and is Shell's largest wholly-owned refinery worldwide.
The move brings the total refining capacity cuts by Shell in recent months to 571 000 bpd, or just over a fifth of its capacity globally.
Shell aims to reduce the number of its refineries as part of a drive to slash carbon dioxide (CO2) emissions to net zero by 2050 and restructure its operations by reducing its oil and gas business and expanding its renewable energy and power division.
The coronavirus pandemic has destroyed fuel demand, estimated at 4.7 million bpd less during the next five years, and accelerated a rationalization of global refining capacity, Rob Smith, director at consultancy IHS Markit, said- Nampa/Reuters
Endeavour in merger talks with Teranga
Endeavour Mining Corp said it was in talks with fellow West Africa-focused gold miner Teranga Gold over a potential merger, as it looks to add heft amid soaring prices for the yellow metal.
The discussions may or may not result in an agreement, the company said. Earlier this year, Endeavour acquired miner Semafo to create the biggest gold producer in Burkina Faso, increasing its focus on the country despite rising insecurity.
The announcement also comes at a time when prices of safe-haven gold have gained on the back of global stimulus to cushion economies from the fallout of the Covid-19 pandemic.
As of Monday, Endeavour had a market valuation of C$5.23 billion, while Teranga was worth C$2.2 billion.
Bloomberg had previously reported, citing people with knowledge of the matter, that Endeavour Mining was exploring a purchase of Teranga.- Nampa/Reuters
Ford to add jobs to boost output
Ford Motor Co said it plans to hire 350 more US workers to expand production capacity for its electric F-150 pickup truck in Michigan and add assembly of electric commercial vans at a plant near Kansas City, Missouri.
The company said it also will add a second vehicle at the Mexican factory that is already set to build the Mustang Mach-E electric sport utility vehicle. Ford did not disclose how many people would be hired to build the additional vehicle in Mexico, which would "share a similar electrified platform" as the Mach-E.
Ford will invest US$150 million to add production of electric vehicle motors and transaxles at a transmission factory in suburban Detroit, retaining 225 jobs.
The automaker's latest electric vehicle investments are part of an US$11.5 billion plan mapped out through 2022. Ford has promised the United Auto Workers union that it will invest US$6 billion in U.S. factories to build electric vehicles.
Ford will increase production capacity for an electric version of its F-150 large pickup by 50% from its original plans, adding another 200 permanent jobs at a complex near its headquarters in Dearborn, Mich. - Nampa/Reuters
Apple Inc introduced a MacBook Air notebook and other machines with its first central processor designed in-house for Macs, a move that will tie its computers and iPhones closer together technologically.
The new chip, called the M1, marks a shift away from Intel Corp technology that has driven the electronic brains of Mac computers for nearly 15 years.
It is a boon for Apple computers, which are overshadowed by the company's iPhone but still rack up tens of billions of dollars in sales per year. Apple hopes developers now will create families of apps that work on both its computers and phones.
The MacBook Air will start at US$999, the same as its predecessor, and have up to twice the battery life, Apple said. The M1 will also power the MacBook Pro notebook, which starts at US$1299, and its US$699 Mac Mini computer, which comes without a monitor.
Patrick Moorhead, founder of Moor Insights & Strategy, estimated Apple will save between US$150 and US$200 per chip in costs by using its own central processors. "We didn't see Apple add any expensive features," he said. "They're going with a much higher margin."- Nampa/Reuters
United Airlines returns to New York's JFK
United Airlines said it is returning to New York's John F. Kennedy Airport (JFK) on Feb. 1, 2021, ending a five-year absence in a move it hopes will tap into pent-up demand for transcontinental travel hit by the pandemic.
The US carrier is re-launching service with daily flights to Los Angeles and San Francisco from JFK, which is also a major hub for international travel and normally one of the country's busiest airports, on a reconfigured Boeing 767-300ER with expanded premium seating.
Air travel demand has been severely bruised by the Covid-19 crisis and is expected to remain depressed until there is a widely distributed treatment or vaccines, forcing airlines to drastically scale back their flight schedules.
However, United has found that as people slowly start traveling again, the ones who have taken flights in the midst of the pandemic are more likely to travel again, chief communications officer Josh Earnest said on a call with journalists.
This is allowing the airline to build up a base of customers who are comfortable about air travel, he said, giving it some optimism about an improvement in demand even as it remains "realistic that we are far below the levels that we experienced just one year ago," Earnest said. - Nampa/Reuters
Shell to cut jobs at Singapore’s refinery
Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce its carbon emissions.
The refinery on Pulau Bukom, a small island in the Southeast Asian city-state, can process 500 000 barrels per day (bpd) of oil and is Shell's largest wholly-owned refinery worldwide.
The move brings the total refining capacity cuts by Shell in recent months to 571 000 bpd, or just over a fifth of its capacity globally.
Shell aims to reduce the number of its refineries as part of a drive to slash carbon dioxide (CO2) emissions to net zero by 2050 and restructure its operations by reducing its oil and gas business and expanding its renewable energy and power division.
The coronavirus pandemic has destroyed fuel demand, estimated at 4.7 million bpd less during the next five years, and accelerated a rationalization of global refining capacity, Rob Smith, director at consultancy IHS Markit, said- Nampa/Reuters
Endeavour in merger talks with Teranga
Endeavour Mining Corp said it was in talks with fellow West Africa-focused gold miner Teranga Gold over a potential merger, as it looks to add heft amid soaring prices for the yellow metal.
The discussions may or may not result in an agreement, the company said. Earlier this year, Endeavour acquired miner Semafo to create the biggest gold producer in Burkina Faso, increasing its focus on the country despite rising insecurity.
The announcement also comes at a time when prices of safe-haven gold have gained on the back of global stimulus to cushion economies from the fallout of the Covid-19 pandemic.
As of Monday, Endeavour had a market valuation of C$5.23 billion, while Teranga was worth C$2.2 billion.
Bloomberg had previously reported, citing people with knowledge of the matter, that Endeavour Mining was exploring a purchase of Teranga.- Nampa/Reuters
Ford to add jobs to boost output
Ford Motor Co said it plans to hire 350 more US workers to expand production capacity for its electric F-150 pickup truck in Michigan and add assembly of electric commercial vans at a plant near Kansas City, Missouri.
The company said it also will add a second vehicle at the Mexican factory that is already set to build the Mustang Mach-E electric sport utility vehicle. Ford did not disclose how many people would be hired to build the additional vehicle in Mexico, which would "share a similar electrified platform" as the Mach-E.
Ford will invest US$150 million to add production of electric vehicle motors and transaxles at a transmission factory in suburban Detroit, retaining 225 jobs.
The automaker's latest electric vehicle investments are part of an US$11.5 billion plan mapped out through 2022. Ford has promised the United Auto Workers union that it will invest US$6 billion in U.S. factories to build electric vehicles.
Ford will increase production capacity for an electric version of its F-150 large pickup by 50% from its original plans, adding another 200 permanent jobs at a complex near its headquarters in Dearborn, Mich. - Nampa/Reuters
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