Industry

Malaysia's AirAsia X gets shareholder go-ahead for restructuring plan   An AirAsia X Airbus A340 passenger jet arrives on its inaugural flight from Kuala Lumpur to Paris Orly Airport in this February 14, 2011. REUTERS/Charles Platiau AirAsia X Bhd (AIRX.KL) shareholders have approved the Malaysian budget airline's debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. Shareholders of the long-haul affiliate of AirAsia Group Bhd (AIRA.KL) approved all resolutions at an extraordinary general meeting, including a rights issue and a share subscription for new investors to raise 500 million ringgit. AirAsia...

Green Steel: The Next Big Thing In Sustainable Manufacturing (Credit: ESG Today) Mercedes-Benz has announced a new commitment to launch green steel in vehicle models by 2025, marking a significant step in the company’s efforts to decarbonize its supply chain. While many automakers have announced electric vehicle goals to address climate change, the industry still faces emissions issues from its supply chain. Steelmaking accounts for 7% to 9% of direct emissions from fossil fuels. According to Mercedes-Benz, a sedan is made from about 50% steel, which accounts for about 30% of carbon emissions in production. As manufacturers around the world...

Record manufacturing jump boosts markets in UK, US and eurozone Oil prices surge as pent-up demand in May adds to last month’s growth records Workers at a marble factory in Brooklyn, New York, last month. Photograph: Spencer Platt/Getty A record jump in manufacturing activity in the UK, the US and the eurozone lifted stock markets on both sides of the Atlantic on Tuesday. Pent-up demand after a year of stop-start activity due to the coronavirus outbreak pushed factory order books to fresh highs in May, adding to previous growth records set in April, according to a bellwether survey of factory...

Gov. Ron DeSantis’ heated battle over cruise line industry: Lawyers working to settle A Carnival cruise ship is docked at PortMiami, one of five Florida seaports where cruiselines operate. Photo by Joe Raedle/Getty Images Lawyers have been working to settle a court case over resuming the crucial cruise industry that can bring in billions of dollars, with Gov. Ron DeSantis at odds with federal health officials over COVID-19 vaccinations. Settlement discussions went for at least 11 hours on Thursday, before the Memorial Day weekend. And the discussions were scheduled to continue Tuesday, according to court documents. The discussions have been...

The car brands emitting the most CO2 from new registrations in 2020 Written by Joel Kempson, Personal Finance Writer By 2030, all new petrol or diesel cars will be obsolete in a bid to save our planet. But just how much do our cars impact the environment? Uswitch investigated. Thanks to technological advancements and growing lobbying against the automotive industry, the levels of CO2 production amongst vehicles has begun to decrease. However, with the planet remaining at substantial risk of further deterioration, this drop in emissions is still not low enough, with some figures suggesting that, contrary to eco-conscious goals,...