November, 2022

• 30 November

  Adani fundraising targets retail buyers, allows discount pricing

  

    Bloomberg Adani Enterprises Ltd, the flagship firm owned by Asia’s richest person Gautam Adani, chose a fundraising route for its $2.5 billion share sale that allows the group to woo retail investors through potentially discounted prices. The 200 billion rupee ($2.5 billion) equity sale via the further public offer mechanism gives the company maximum flexibility, including pricing at a ...

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• 30 November

  Nestle sets new targets for profit growth

  

  Bloomberg Nestle SA set new targets for profit growth in coming years and said it’s starting a strategic review of its Palforzia peanut-allergy business. Underlying earnings per share should rise 6% to 10% annually in constant currency through 2025, the maker of Nespresso capsules and DiGiorno meals said. Nestle said it’s reviewing options for Palforzia after a slower-than-expected performance, and ...

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• 30 November

  Cyber Monday sales likely to break record despite inflation

  

    Bloomberg US shoppers have spent $6.3 billion so far on Cyber Monday, according to Adobe Inc, a robust showing that suggests steep discounts attracted inflation-stung shoppers. Cyber Monday spending will reach as much as $11.6 billion, making it the biggest online spending day ever, according to Adobe. “There is a ton of momentum coming into Cyber Monday, after a ...

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• 30 November

  Covid cases spike in Thailand amid tourism recovery gains

    Bloomberg Thailand reported a surge in serious Covid-19 infections and deaths, just as the Southeast Asian nation is seeing a rebound in foreign tourist arrivals that’s likely to gain further momentum into the holiday season. An average of 702 Covid patients were hospitalised a day, which was almost double the number from the start of the month, the Health ...

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• 29 November

  Korea orders cement truckers to work, citing economy risk

  

  Bloomberg South Korea ordered striking cement truck drivers back to work in a dramatic step it said was necessary because of the threat to the nation’s economy. The government issued the order during a cabinet meeting led by President Yoon Suk-yeol, and warned that violators will face legal action. This is the first time such a decree has been put ...

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• 29 November

  Toyota global output slows from record as challenges persist

  

  Bloomberg Toyota Motor Corp produced 771,382 vehicles in October, down from a record of 887,733 the previous month, and warned of an uncertain outlook due to Covid and semiconductor shortages. Output was up 23% from October 2021, when supply chains were disrupted by the spread of Covid in Southeast Asia, Toyota said in a statement. The world’s biggest automaker is ...

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• 29 November

  Vitamins are resilient to Asia downturn: Blackmores CEO

    Bloomberg Asian markets including China continue to show growing demand for high quality dietary supplements despite Covid-related disruptions and the general economic downturn, according to Australian vitamin manufacturer Blackmores Ltd. The company expects spending on vitamins and supplements to remain resilient to economic slowdowns, CEO Alastair Symington said in an interview with Bloomberg Television.

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• 29 November

  Fosun mulls sale of India’s $3.6 billion Gland Pharma

  

    Bloomberg Billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical Group Co is considering a sale of Indian drugmaker Gland Pharma Ltd after receiving interest from potential buyers, people familiar with the matter said. Fosun Pharma, a listed arm of Chinese conglomerate Fosun International Ltd, has been working with an adviser as it informally gauges interest in its controlling stake in Gland, ...

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• 29 November

  Taiwan cuts its 2022 GDP forecast again

    Bloomberg Taiwan cut its 2022 growth forecast for the third time this year as the global demand slowdown and rising geopolitical tensions with China prove tough to navigate. Gross domestic product is likely to grow 3.06% for the year, the cabinet’s statistics department said. That’s lower than the last formal estimate of 3.76% given in August. The official 2023 ...

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• 29 November

  China pushes elderly vaccination as reopening pressure grows

  

  Bloomberg China said it would bolster vaccination among its senior citizens, a move regarded by health experts as crucial to reopening an economy stuck in an endless loop of harsh Covid Zero curbs. But it stopped short of announcing mandates that helped raise inoculation rates in other countries. Instead, officials vowed to push shots harder in places like nursing centres, ...

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