January, 2020

• 18 January

  Japan activist makes surprise bid to disrupt Toshiba deal

  

  Bloomberg Japan’s best-known activist investor, Yoshiaki Murakami, announced a tender offer for Toshiba Machine Co, one of the entities embroiled in a controversial takeover battle for NuFlare Technology Inc. The bid late from Murakami vehicle Office Support came just hours after Toshiba Machine confirmed it had agreed to tender its shares in NuFlare to Toshiba Corp for 11,900 yen apiece. ...

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• 18 January

  India’s banks face risk of $13b telecom dues

  

  Bloomberg India’s top court’s rejection of an appeal by wireless carriers to review $13 billion they owe to the government raises risks for lenders to the companies, according to UBS Group AG. Payment of the dues may erode the telecom operators’ cash flows, especially those of Vodafone Group Plc’s India venture. Under the October verdict, Vodafone Idea Ltd has to ...

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• 18 January

  HNA sells Pactera for $750mn

  Bloomberg Embattled Chinese conglomerate HNA Group Co has agreed to sell control of its tech outsourcing unit to China Electronics Corp in a deal valued at about $750 million, people with knowledge of the matter said. State-owned China Electronics signed an agreement with HNA on the purchase of Pactera Technology International Ltd, according to the people, who asked not to ...

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• 18 January

  China, Myanmar ink agreements in latest sign of improving ties

  

  Bloomberg China and neighbouring Myanmar agreed to expedite several projects designated as part of the pan-Eurasia Belt and Road Initiative in a sign of growing ties between both countries. The two sides inked 33 agreements as Chinese President Xi Jinping wrapped up a visit to the Myanmar capital of Naypyidaw on Saturday, where he met his counterpart Aung San Suu ...

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• 18 January

  Toyota showers billions on US plants after slow shift to SUVs

  

  Bloomberg Toyota Motor Corp has poured more money into yet another North American plant to boost production of the SUVs and trucks US customers increasingly seek instead of sedans. The Japanese automaker said it has spent $700 million and hired 150 new workers at its plant in Princeton, Indiana, mostly to increase output of its Highlander sport utility vehicle. The ...

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• 18 January

  India top court to hear plea on stalling bullet train project

  

  Bloomberg India’s top court will hear a group of farmers seeking to halt land acquisition for the South Asian nation’s maiden high-speed rail project, funded by Japan. A two-judge bench headed by Justice Deepak Gupta issued a notice to the government seeking its view on the farmers’ petitions. The nation’s apex court will hear the case on March 20. The ...

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• 18 January

  Fed to shift from writing rules to watching banks’ behaviour

  

  Bloomberg The Federal Reserve is shifting its focus from writing and revising rules aimed at limiting risk in the banking system to a concentration on how lenders interpret the restrictions, the agency’s supervision chief said. Having finished the bulk of its work on major rules, the Fed can now devote more attention to behind-the-scenes interactions between bankers and their government ...

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• 18 January

  Deutsche Bank cuts bonus pool by 30%

  

  Bloomberg Deutsche Bank AG is cutting the bonus pool at its investment bank by about 30%, deepening pay reductions after a tumultuous year that saw the lender embark on a huge restructuring. While the figure is an average at the division housing fixed income trading, there’ll be some adjustments for individual performance and units, people with knowledge of the matter ...

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• 18 January

  ‘Too much finance can make inequality worse’

  

  Bloomberg The expansion of financial services in an economy can reduce income inequality — but beyond a certain point it tends to have the opposite effect, according to the International Monetary Fund (IMF). Better access to banking and credit can help close income gaps by allowing people to save and invest more, the Washington-based fund said in a staff discussion ...

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• 18 January

  BOE is fast running out of excuses not to cut interest rates

  

  Bloomberg Add a shocking slump in retail sales to the list of reasons why the Bank of England may cut interest rates in less than two weeks. Instead of showing evidence of a much-anticipated post-election bounce, the release exposed how British shoppers, the mainstay of growth the past few years, reined in spending during the crucial Christmas season. The pound ...

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