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October 2, 2017 International News, Uncategorized
Bloomberg Reliance Communications Ltd.’s plan to merge with Aircel Ltd. collapsed in a blow to the Indian mobile phone carriers’ plans to pare debt and gain scale to take on bigger rivals. “Legal uncertainties†and “interventions by vested interests†caused delays in regulatory approvals, Reliance Communications said in an exchange filing. Consequently, the merger has “lapsed with mutual consent,†it ...
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October 2, 2017 International News, Uncategorized
Bloomberg Go-Jek, Indonesia’s first billion-dollar startup, is looking to expand its ride-hailing services to three to four countries in Southeast Asia, escalating its rivalry with Grab and Uber Technologies Inc. Co-founder and Chief Executive Officer Nadiem Makarim didn’t specify the countries or services that Go-Jek will target, but said in an interview they will be places with a large population ...
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October 2, 2017 International News
Bloomberg North Korea now has two ways to get on the internet, thanks to a new connection from Russia, according to cybersecurity outfit FireEye Inc. Russian telecommunications company TransTeleCom opened a new link for users in North Korea, Bryce Boland, chief technology officer for the Asia-Pacific region at FireEye, said in an interview on Monday. Until now, state-owned China United ...
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October 2, 2017 International News, Uncategorized
Bloomberg On the last page of a nine-page tax plan that calls for slashing business rates, President Donald Trump and congressional Republicans proposed a little-noticed, brand-new tax that may hit companies like Apple Inc. and Pfizer Inc. It’s contained in one sentence: “To prevent companies from shifting profits to tax havens, the framework includes rules to protect the US tax ...
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October 2, 2017 International News
Bloomberg A hard Brexit could be a lot more painful for the UK than for the European Union. Britain’s automotive, technology, health-care and consumer goods sectors may lose $22.8 billion a year in export revenues when the UK leaves the single market and customs union, according to a report released on Monday by Chicago-based law firm Baker & McKenzie LLP ...
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October 2, 2017 International News, Uncategorized
Bloomberg Euro-area factories are scrambling to add staff as burgeoning orders stretch capacity. A Purchasing Managers Index for the region’s manufacturing industry rose to 58.1 in September from 57.4 the previous month, London-based IHS Markit said on Monday. That compares with a preliminary reading of 58.2 and is the highest level in more than six and a half years. A ...
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October 2, 2017 International News
Bloomberg Square Inc. struck an agreement to process payments for ticketing service Eventbrite and made a strategic investment in the startup, part of the digital-payments company’s push into online commerce, an area dominated by larger players like PayPal Holdings Inc. San Francisco-based Square invested $25 million in Eventbrite, which lets event organisers sell tickets and promote and manage events. Eventbrite, ...
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October 2, 2017 International News
Bloomberg Uber Technologies Inc. directors plan to vote on Tuesday on board reforms and whether to pursue a major stock deal with SoftBank Group Corp. despite the surprise appointment of two new members by ousted Chief Executive Officer Travis Kalanick, two people familiar with the matter said. Those two coordinated moves could drastically reshape the ride-hailing company’s governance, while officially ...
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October 2, 2017 International News, Uncategorized
Bloomberg As Hurricane Harvey poured on Houston, Frank Rodriguez feared for his 2014 GMC Sierra. Once he saw the pickup’s soaking-wet interior and center console full of water, he knew it was a lost cause. He just hoped his insurance company would agree and cut him a check. Despite a dearth of inspectors in southern Texas to review the damage ...
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October 2, 2017 Stocks
Bloomberg US stocks gained with the dollar, while Treasuries fell as investors assessed the prospect for tax cuts. The euro weakened in the wake of political turmoil in Spain. The S&P 500 Index hovered near a record high to start the fourth quarter, with investors also watching developments in Las Vegas, where at least 50 people have died in the ...
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