Headlines 

Teslas China Dream Threatened by Standoff Over Shanghai Factory

Tesla Inc., the biggest-selling electric carmaker in the U.S., is in danger of being relegated to an expensive niche in China because Elon Musk can't clinch a deal to open a factory there. More than seven months after Tesla said it was working with Shanghai's government to explore assembling cars, an agreement hasn't been finalized because the two sides disagree on the ownership structure for a proposed factory, according to people with direct knowledge of the situation. China's central government says the plant must be a joint venture with local…

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Stricken Iranian Oil Tanker Sinks in East China Sea After Blast

The Iranian oil tanker Sanchi sank into the East China Sea on Sunday afternoon after a blast, causing a "serious" oil spill that covered 10 square kilometers (3.9 square miles), state television reported, citing China’s State Oceanic Administration. The oil from the tanker was still burning, China Central Television reported Sunday. A State Oceanic Administration official reached by phone said the administration is collecting data from the spill area, and the administration said on its website that the spill will have an impact on the environment. All 32 crew members…

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How China Will Shake Up the Oil Futures Market

China, the world’s biggest oil buyer, is on the verge of opening a domestic market to trade futures contracts. It’s been planning one for years, only to encounter delays. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest — a first for China’s commodities markets — because the exchange is registered in Shanghai’s free trade zone. There are…

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Alibaba Singles’ Day Posts Record 168 Billion Yuan in Sales

Jack Ma is using it as a testing ground for his plans to revamp China’s $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China’s saturated market. “The work that’s been done in the integration of offline and online, not just in terms of the technology integration, but the data and efficiencies for brands and the consumer through personalization has been enormous,” Alibaba President Mike Evans said in an interview on Bloomberg TV. “We see the impact of it in our…

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How Crazy Is Elon Musks Hypersonic Space Rocket Airline?

For whatever reason, some of the world’s smartest and most eccentric people tend to be drawn toward airlines. Elon Musk is the latest, but with a twist—rockets. Tacked onto a detailed explanation Friday of how SpaceX intends to land cargo on Mars five years from now—a farcical schedule that Musk conceded was “aspirational”—the space, car, solar, and battery entrepreneur segued into an audacious proposal to harness the speed of space-travel for faster earthly flights. In essence, Musk wants to fly you even when you’re going merely to London, not Mars. Flying at a…

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