January, 2020

• 12 January

  China will ramp up infra spending in 2020: JPMorgan

  Bloomberg China’s fiscal stimulus is shifting back to a focus on infrastructure investment, away from the approach of cutting taxes for businesses the government favored in previous years, according to economists at JPMorgan Chase & Co. “We expect no major further tax cuts in 2020, though the effect of tax cuts will linger into this year,” JPMorgan economists including Zhu ...

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• 12 January

  US mulls reviving semi-annual talks with China for reforms

  

  Bloomberg The Treasury Department is proposing that the Trump administration revive twice-yearly talks with China to discuss the economic relationship between the countries, according to people familiar with the matter. The talks — if they go ahead — would be separate from phase-two negotiations on a further trade deal that president Donald Trump has said he wants to start “right ...

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• 12 January

  Ghosn’s escape leaves Kelly to face the music alone

  

  Bloomberg Carlos Ghosn’s decision to flee to Lebanon last week effectively ended his legal prosecution in Japan, leaving former Nissan Motor Co executive Greg Kelly at the center of the sprawling case. Under Japanese criminal law, only minor accusations can be tried without a defendant, according to Nobuo Gohara, a former prosecutor. That’s not Ghosn. If found guilty of the ...

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• 12 January

  South Korea’s Coupang prepares for 2021 IPO

  Bloomberg South Korean e-commerce giant Coupang Corp is preparing for an initial public offering as soon as 2021, according to people with knowledge of the matter. The Seoul-based company, founded in 2010 by Chief Executive Officer Bom Kim and said to be valued at $9 billion in late 2018, has begun working on tax structuring among other changes as it ...

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• 12 January

  Tesla target hiked 30% by Piper Sandler

  

  Bloomberg Tesla Inc’s growth potential in China means the stock is undervalued even after a recent rally pushed the shares almost to $500 apiece, analysts at Piper Sandler Cos said while boosting their target price by more than 30%. Piper raised its target to $553 from $423, making it the most bullish among forecasters tracked by Bloomberg. The stock has ...

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• 12 January

  India startup raising funds at $8b valuation

  

  Bloomberg Byju’s is raising about $300 million in a funding round led by New York-based Tiger Global Management, securing new capital at a valuation of $8 billion for the online education startup’s global expansion. Tiger has invested about $150 million in Byju-parent Think and Learn Pvt, according to people familiar with the deal. Existing investors will likely contribute about the ...

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• 12 January

  France pulls retirement age from pension reform plan

  

  Bloomberg The French government signalled it’s prepared to scrap an effort to raise the age at which workers can retire with full benefits to 64 in a bid to get the country’s moderate unions on board with president Emmanuel Macron’s pension reform plan. “I am prepared to withdraw from the bill the short-term measure which I had proposed, consisting of ...

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• 12 January

  GM set to revive Hummer brand

  Bloomberg General Motors Co is moving forward with plans to revive its polarising Hummer brand, this time as an electric truck instead of an emblem of gasoline consumption, according to people familiar with the matter. The Detroit automaker plans to debut a pickup around 2022 with boxy styling cues reminiscent of the Hummers of yore, one of the people said. ...

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• 12 January

  Libyan fighters begin tenuous ceasefire before talks in Berlin

  

  Bloomberg Libya’s warring factions have embarked on a tenuous ceasefire in a nine-month war that has drawn in Russia and Turkey, following a call by the presidents of both countries to halt the fighting. Forces loyal to eastern military commander Khalifa Haftar, who launched the war in April against the internationally recognised government, and the Tripoli-based government reduced violence as ...

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• 12 January

  UK can’t rely on US for defense: Wallace

  

  Bloomberg The UK must prepare to fight wars without the help of the US, British defense secretary Robert Ben Wallace said in an interview with the Sunday Times. Wallace said he worries “if the United States withdraws from its leadership around the world,” and such a possibility keeps him “awake at night,” according to the newspaper. He suggested the government ...

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