January, 2020

• 5 January

  WeWork’s exit packages include $17m to co-CEOs

  

  Bloomberg WeWork will have to pay about $17 million to its co-chief executives Artie Minson and Sebastian Gunningham if they are fired or leave the company for multiple reasons, the Financial Times reports, citing documents and people briefed on the matter. Minson and Gunningham would receive $8.3 million each under the exit packages negotiated. Chief legal officer Jennifer Berrent would ...

  Read More »
• 5 January

  We’ve cut rates but you can’t miss goals, India tells taxmen

  

  Bloomberg India’s finance ministry has delivered a challenge to its revenue collectors: meet tax targets despite $20 billion of corporate tax cuts. Through a video conference on December 16, officials were exhorted to meet the direct tax mop-up target of 13.4 trillion rupees ($187 billion), a government official told reporters. Collection in the eight months to November grew at 5% ...

  Read More »
• 5 January

  Bluefin tuna sold for $1.79mn in Tokyo

  Bloomberg A bluefin tuna weighing a staggering 276 kilograms (608 pounds) was sold for 193.2 million yen ($1.8 million) on Sunday at a Tokyo fish market, the second-highest price on record. Kiyomura Corp, which runs the Sushizanmai restaurant chain across Japan, made the winning bid for the second year in a row. It paid a record 333.6 million yen for ...

  Read More »
• 5 January

  Wave of oil pipeline projects late to Permian boom

  

  Bloomberg It’s gone from a dearth to a glut of oil pipeline projects competing to serve slowing production growth in the Permian Basin. Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already forcing companies to cut fees and could mean lower profits and cutthroat competition ...

  Read More »
• 5 January

  South Africa’s Eskom resumes power cuts

  

  Bloomberg South African power utility Eskom Holdings SOC Ltd, which generates about 95% of the country’s electricity, extended power cuts that started on January 4 until Monday after a conveyor belt failure at its Medupi plant — just as Andre de Ruyter officially takes over as head of the cash-strapped company. Eskom extended stage 2 load-shedding, the local term for ...

  Read More »
• 5 January

  US vows to hit 52 sites if Tehran retaliates over killing of general

  

  Bloomberg President Donald Trump said the US has identified 52 Iranian sites it would hit if Tehran retaliates against the assassination of Iranian General Qassem Soleimani, stepping back from more conciliatory comments he made after the drone strike on the Islamic Republic’s most powerful military commander. Trump’s tough talk followed Tehran’s threat of a protracted response, and eclipsed his assertion ...

  Read More »
• 5 January

  Joe Biden defends policy record amid Trump’s Iran threats

  

  Bloomberg Democratic presidential candidate Joe Biden defended his foreign policy record as he campaigns on the argument that he’s best suited to be commander-in-chief amid President Donald Trump’s escalating threats against Iran. “It’s not to suggest I haven’t made mistakes in my career but I would put my record against anyone in public life in terms of foreign policy,” Biden ...

  Read More »
• 5 January

  Nigeria faces challenges of politicking, debt

  

  Bloomberg Nigerian President Muhammadu Buhari is due to complete his second and final four-year term in 2023 and the battle over who will succeed him is already heating up, placing further pressure on an already strained economy. Buhari has thus far shied away from endorsing his deputy, Yemi Osinbajo, for the position, twice slighting him by opting not to transfer ...

  Read More »
• 5 January

  Spain’s Sanchez on track to govern as key vote looms

  

  Bloomberg Spain’s acting PM  Pedro Sanchez failed to win enough support in a first parliamentary vote on Sunday, part of a process that should still allow him to form a government with help from Catalan separatists in 48 hours. Sanchez, 47, needs to win the endorsement of the 350-seat chamber in a process that will drag out through Tuesday. Sanchez ...

  Read More »
• 5 January

  Starmer enters race to succeed Corbyn as Labour leader

  

  Bloomberg The Labour Party’s Brexit spokesman Keir Starmer said he’s running to replace Jeremy Corbyn as leader following its worst electoral defeat since 1935. Starmer, 57, is the early front-runner according to a YouGov poll of Labour party members published on January 2. He’s on 36%, comfortably ahead of business spokeswoman Rebecca Long Bailey with Jess Phillips in third. “I ...

  Read More »