October, 2020

• 12 October

  And France’s Macron fishes for Brexit victory

  

  European diplomats are awkwardly shuffling their feet in anticipation of a headstrong, unpopular leader crashing Brexit trade talks just as a tentative deal looks in sight. No, not UK Prime Minister Boris Johnson — France’s Emmanuel Macron. The 42-year-old president is sticking to his guns on the contentious issue of post-Brexit fishing rights, much to the distress of European Union ...

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• 12 October

  Is Amazon’s Bezos new king of bling?

  

  Oscar de la Renta, a brand that is a regular on red carpets and a mainstay of posh department stores, has just turned up somewhere decidedly less opulent: Amazon. Amazon.com Inc recently launched Luxury Stores, its latest effort to become a go-to destination for designer goods. Select Prime members can access a new section of Amazon’s app that showcases $2,790 ...

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• 12 October

  Covid makes domestic work more precarious

  White House officials have been likening their workplace to a “ghost town” since President Donald Trump was diagnosed with Covid-19. East Wing staffers are under orders to work from home, while many in the West Wing — if they aren’t isolating with their own cases — are also staying away. It’s a smart choice, but not one that’s available to ...

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• 12 October

  Europe’s big bank deals aren’t very beautiful

  Europe desperately needs its banks to function better. Low profitability, decrepit technology and a new wave of loan losses threaten to hobble even the continent’s strongest lenders. Share prices are close to historic lows. In this environment, it’s tempting for those in better shape to snap up their cheaper rivals. But banking bosses should think carefully before empire building. Europe’s ...

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• 12 October

  Mumbai returns to normal after worst power failure

  

  Bloomberg Power supply was restored in most parts of India’s financial capital after its worst blackout in decades disrupted transport networks and briefly hit trading volume in bond markets. Mumbai, home to India’s biggest stock exchanges, financial regulators and the central bank, witnessed a power failure at around 10 am local time. Power tripping — or an overload in the ...

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• 12 October

  India court sends notice to banks on Anil Ambani

  

  Bloomberg An Indian court has reached out to a group of Chinese banks that are trying to recover money from Anil Ambani, in the latest twist in a personal bankruptcy case against the former billionaire. The trio of Chinese lenders won a ruling in a London court in May after pursuing Ambani for more than $700 million in a dispute ...

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• 12 October

  Indonesia firm targets new $80 million startup fund

  Bloomberg AC Ventures, an Indonesia-focussed venture capital firm, said it completed the first close of a planned $80 million technology investment fund. The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years. AC Ventures was ...

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• 12 October

  China to take part in WHO-backed vaccine program

  

  Bloomberg China will take part in a World Health Organization-backed effort to provide a coronavirus vaccine to developing nations, filling a void in global health leadership after US President Donald Trump spurned the program. Beijing joined the $18 billion Covax initiative that aspires to give lower-income countries the same access to vaccines as wealthier nations. The move came despite China ...

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• 12 October

  Jakarta aims for SE Asia’s vaccine hub

  Bloomberg China supports Jakarta’s efforts to become the centre for vaccine production in Southeast Asia, Indonesia Coordinating Minister for Maritime Affairs and Investments Luhut Pandjaitan said after meeting Chinese Foreign Minister Wang Yi. Indonesia has the strongest capacity for vaccine production in Southeast Asia, Wang said, according to a statement issued by Pandjaitan after the two held a discussion. Wang ...

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• 12 October

  Luxury Thai hotels bet on 5-star quarantine in pandemic opening

  

  Bloomberg A slew of luxury hotels opening in Thailand amid the Covid-19 pandemic are pinning their hopes on a government plan to lure high-spending tourists, betting those seeking five-star quarantine will help cushion the devastation wrought on the travel industry. About half-a-dozen luxury hotels that opened in Bangkok during the pandemic, or will open soon, from Four Seasons, Kempinski and ...

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