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MILAN: Italian trade unions said on Thursday they had agreed with CNH Industrial on health and security measures so the vehicle maker is ready to resume work as soon as lockdown rules are eased. Italy has extended limits on movement and manufacturing to curb the spread of the coronavirus until May 3, although Prime Minister Giuseppe Conte said he would continue to assess daily infection trends and "act accordingly". This has raised expectations that some manufacturing, even though not deemed essential, could resume beforehand, provided health and safety measures were in place to protect workers. CNH, which makes farm machinery, Iveco commercial vehicles, construction equipment and powertrains, has shut most of its assembly plants in Europe, North America and South America. The FIM, FIOM, UILM, FISMIC, UGLM and AQCFR unions said in a joint statement that the measures agreed with CNH were the same as those in a similar deal finalised last week with automaker Fiat Chrysler . … [Read more...] about Italy unions agree health measures with CNH Industrial for restart

MILAN: Vehicle maker CNH Industrial said on Friday it was suspending most of its European assembly operations for two weeks due to the coronavirus outbreak, citing supply chain constraints. The Italian/American maker of Iveco commercial vehicles, farm machinery, construction equipment and powertrains, adds to a long list of European manufacturers closing plants or reducing production rates as the virus spreads. The decision was driven by disruptions in the group's European supply chain, "that do not allow for an efficient operation", Chief Executive Hubertus Muhlhauser said in a statement. "During these temporary shutdowns, we will also undertake further extensive sanitization and deep cleaning procedures," he added. Friday's announcement follows a decision last week by CNH Industrial to halt operations at four Italian plants. The group, however, said most its plants producing components would remain operational, though at lower speed, to ensure supply continuity to the … [Read more...] about CNH Industrial halts most European plants due to virus-related supply constraints

CNH Industrial has announced that it has completed its minority investment in Monarch Tractor, a US-based agricultural technology company, which will help speed up the transformation of the agricultural industry to autonomy and electrification. This strategic partnership will help enhance sustainability and empower farmers and agribusinesses globally to realise profitable zero-emission farming, CNH Industrial said in a release. Monarch’s electric tractor platform offers a unique combination of a fully electric powertrain with autonomous technologies. This is paired with a comprehensive agronomic and machine data management platform to deliver a complete technology ecosystem. This technology will provide professional agriculture producers a first-to-the-market offering in the sub-100 horsepower segment, which lowers overall emissions, improves agronomic insights and enhances safety. “Monarch is pioneering a tractor technology that incorporates electrification, … [Read more...] about CNH Industrial invests in US-based electric tractor startup Monarch

CNH Industrial decides to sell its truck unit Iveco to China's FAW the move would have to be approved first by the Italian government, the industry minister said on Thursday. CNH Industrial said recently that it could consider alternatives to a planned spin-off and separate listing of its truck and bus business and that it was in talks with FAW over the future of Iveco. In case of takeovers in key industries involving assets deemed of national interest, Rome can use its so-called "golden powers", allowing it to veto or impose strict conditions on such deals. Asked whether Rome could exercise such powers over a potential Iveco sale, Industry Minister Giancarlo Giorgetti said the government would start an inquiry into the matter should the transaction materialise. "It's safe to say that this matter objectively falls into the golden power regulation, so it means we'll use it," he said during a press conference. CNH Industrial declined to comment. … [Read more...] about Italy would exercise veto powers in event of Iveco sale to China’s FAW: minister

Tiger Brokers has seen tremendous growth in account openings since joining the big boys in Singapore in 2020. Check out what they’re all about and why they’ve made waves in the investment and trading community. It’s not everyday that we see a new player enter the fray, especially when it comes to online brokerages. In March 2020, Tiger Brokers launched in Singapore and it’s safe to say that they’ve more than made their mark. Tiger Brokers announced a three-fold growth in account openings in Q3 2020 compared to Q2 2020, as well as a 540 per cent increase in trading value. Their early success has been buoyed by heightened investor interest surrounding trading and investing amidst Covid-19. What’s Tiger Brokers all about? Tiger Brokers is an online brokerage platform that is backed by Xiaomi and listed on NASDAQ. They provide customers with easy access to global markets, including Singapore, USA, Hong Kong, China and Australia, at low commissions. Investors have access to … [Read more...] about Tiger Brokers review: New kid on the block with low commissions