News

Bloomberg One of China’s top commodity traders, Tewoo Group, is selling copper at below market rates as it grapples with a liquidity crunch, according to people with knowledge of the matter. The company, which is owned by the local Tianjin government, is offloading some refined copper stocked in bonded zones as it unwinds financing deals with some banks, said the ...

Bloomberg One of Asia’s biggest sugar refiners is in talks to sell the sweetener in China, lured by the country’s “new generation” of consumers. MSM Malaysia Holdings Bhd is nearing the final stages of discussions to set up partnerships in China’s downstream sugar industry, Executive Director Khairil Anuar Aziz said. The refiner is looking to sell sugar for popular snacks ...

Bloomberg Flows into Indian equity mutual funds hit a five-month high in March, induced by the rally that recently lifted the $2.2 trillion stock market to a record. Stock funds took in about $1.7 billion, the highest since October, and more than double over the previous month, data from the Association of Mutual Funds in India, or AMFI, show. Indian ...

Bloomberg Donald Trump is preparing a novel campaign strategy for a president who is pulling the US from the international Paris accord on climate change, cheer-leading for coal, one of the dirtiest source of power, and suggesting that wind turbines cause cancer. He’s going to tout his environmental credentials. Administration officials are developing talking points on climate change and cultivating ...

Bloomberg Pinterest Inc. is seeking to raise as much as $1.28 billion in an US initial public offering that could value the company below the amount it reached in its last private valuation. The maker of online inspiration boards is offering 75 million shares for $15 to $17 apiece, according to a filing on Monday. Based on the total number ...

Bloomberg Investment firms Intermediate Capital Group and Merieux Equity Partners have agreed to acquire Italian generics drugmaker Doc Generici from CVC Capital Partners for an undisclosed amount. The pharmaceutical company may have been valued at about 1.1 billion euros ($1.2 billion), people familiar with the matter said previously. Bloomberg reported last week that ICG and CVC were close to a ...

Bloomberg Germany’s economy will grow by less than half the rate previously expected this year, and risks to outlook include global trade disputes and a disorderly Brexit, according to the nation’s five leading research institutes. The gross domestic product of Europe’s largest economy will expand by 0.8 percent in 2019, the institutes predicted in their latest outlook published in Berlin. ...

Bloomberg General Electric (GE) fell in pre-market trading on Monday after a key analyst at JPMorgan returned to a bearish view on the stock, reversing a December upgrade that had provided a major boost to positive sentiment. Steve Tusa downgraded the shares to underweight from neutral and trimmed his price target by $1 to a Street-low view of $5, a ...

Bloomberg Fiat Chrysler Automobiles NV is pooling its fleet with Tesla Inc. to comply with stricter European Union rules on carbon-dioxide emissions, in a deal that’s likely to pay the US electric-car leader hundreds of millions of dollars. Tightening EU regulations that kick in next year could cost Fiat 2 billion euros ($2.2 billion) in potential fines in each of ...

ABU DHABI / WAM The UAE government, in cooperation with the World Economic Forum (WEF) on the Middle East and North Africa (Mena), has become first signatory to the ‘Scale 360’ initiative, which aims at moving towards a more circular economy while using less natural resources and reducing pollution to tackle climate change. This step reaffirms the UAE’s position as ...