February, 2020

• 24 February

  Bangkok has over 100,000 empty apartments

  Bloomberg Bangkok’s condominium market, once a favourite of Chinese investors, faces a bleak year as the novel coronavirus outbreak keeps buyers away. Foreigners are set to account for as little as 10% of purchases in 2020, down from a fifth two years ago, consultancy Agency for Real Estate Affairs estimates. Chinese buyers used to provide the bulk of overseas interest ...

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• 24 February

  Dominion pipeline permit heads to court

  

  Bloomberg The fate of Dominion Energy Inc’s planned $8 billion Atlantic Coast Pipeline was expected to be tested on Monday, as the US Supreme Court hears arguments on a crucial permit that would let the natural-gas line cross under the Appalachian Trail. Dominion and President Donald Trump’s administration are asking the high court to jump-start the long-delayed project after a ...

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• 24 February

  RWE backs ‘floating wind parks’ design

  

  Bloomberg RWE AG’s renewable energy arm is working with a Spanish company to develop new technology for floating wind farms as utilities explore how to generate power further out at sea. The German company will work with Spain’s Saitec Offshore Technologies to build a turbine that sits atop a pair of floating, steel-reinforced concrete hulls. The project marks an acceleration ...

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• 24 February

  Brazil to woo Tesla during Bolsonaro’s trip to US in March

  

  Bloomberg Brazil President Jair Bolsonaro will travel to the US next month for the fourth time in a year with a pro-business agenda that includes trying to convince electric vehicle manufacturer Tesla Inc to set up a plant in the South American country. Bolsonaro’s visit will be on March 7-10 and his plans include attending a business seminar in Miami, ...

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• 24 February

  German business sentiment not shaken by virus concerns

  

  Bloomberg The mood among German business hasn’t being dramatically shaken by the coronavirus outbreak, suggesting they see a short-term impact that won’t overly disrupt a pickup in 2019. The closely watched IFO confidence index unexpected rose this month, as did a measure of expectations. The increase comes as executives wait to see if authorities can get the outbreak under control ...

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• 24 February

  Britons return to stores after Boris Johnson’s election victory

  

  Bloomberg UK retail sales jumped the most in almost two years in January, ending the worst run for British stores on record and adding to signs of an economic rebound after the December election created a Brexit breakthrough. Sales excluding auto fuel rose 1.6% from December, the biggest increase since May 2018. Economists were expecting a rise of 0.8%. Sales ...

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• 24 February

  Netflix’s Russia rival hires Goldman to study deals

  

  Bloomberg Ivi.ru, Russia’s largest streaming platform, hired Goldman Sachs Group Inc to study options to fund the firm’s growth, according to the firm’s chief executive officer. “These could be private placement, strategic alliances or an IPO,” Oleg Tumanov, Ivi’s founder and CEO, said in an interview in Moscow. “We need funding to produce our own content and keep growing faster ...

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• 24 February

  Audi halts electic-car prodcuction

  Bloomberg Audi halted output of its E-Tron SUV to resolve production issues including battery-supply bottlenecks as it prepares to flank the model with a sportier variant, underscoring the struggles traditional automakers face to boost electric cars and challenge Tesla Inc. Manufacturing at Audi’s factory in Brussels stopped and the plant will remain idle until Tuesday, a company spokeswoman said. Audi ...

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• 24 February

  France warns of UK blackmail as EU prepares for negotiation

  

  Bloomberg France warned British Prime Minister Boris Johnson not to use “blackmail” to secure a trade deal as European Union member states prepare to finalise their negotiating position, allowing talks between the two sides to begin next week. Ministers from the bloc’s 27 national governments will meet on Tuesday in Brussels, where they are expected to sign off on the ...

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• 24 February

  Malaysia’s Mahathir resigns amid turmoil in coalition

  

  Bloomberg Malaysian PM Mahathir Mohamad abruptly submitted his resignation to the king on Monday and his party exited the ruling coalition, kicking off a race to form the next government of the Southeast Asian nation. The statement from Mahathir’s office contained no other details. It was unclear whether Mahathir would form a new coalition with other political parties, whether his ...

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