December, 2019

• 25 December

  NMC planning review after shortseller attack

  

  Bloomberg NMC Health Plc shares gained after the company said it plans an independent review of assertions from “certain third parties,” partly recovering from a slump that followed allegations by short seller Muddy Waters Capital LLC recently. The company has been under siege since Carson Block’s Muddy Waters said its financial statements hint at potential overpayment for assets, inflated cash ...

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• 25 December

  Three Japan Post group presidents to quit

  

  Bloomberg The presidents of three Japan Post Group companies will step down on Friday amid a scandal involving insurance sales, local broadcaster JNN reported. The report said that the executives would step down at a press briefing on Friday, amid the ongoing scandal involving Japan Post insurance sales. Japan Post said that it is unaware of any plans by the ...

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• 25 December

  Top Nissan executive plans to leave for electric motor firm

  

  Bloomberg Nissan Motor Co’s third-highest-ranked executive is planning to leave the company to join a leading electric-motor company, an abrupt move that deals yet another blow to the scandal-plagued Japanese carmaker. The shares fell to their lowest in 8 years. Jun Seki, the vice chief operating officer in charge of Nissan’s performance recovery, plans to join Japanese manufacturer Nidec Corp ...

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• 25 December

  First high-speed rail IPO in China comes as more opening hinted

  

  Bloomberg The operator of China’s high-speed rail line between Beijing and Shanghai kicked off its initial public offering, which will for the first time allow investors to buy shares in what is the world’s largest such network. Beijing-Shanghai High-Speed Railway Co, a unit of state-owned China Railway Corp, plans to sell as many as 6.3 billion new shares, or 12.8% ...

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• 25 December

  Uber’s Travis Kalanick to leave board to focus on new business

  

  Bloomberg Uber Technologies Inc’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups. Kalanick, 43, has sold all of his remaining shares in the ride-hailing giant and plans to focus on his new ...

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• 25 December

  Dell to purchase remaining shares of Secureworks

  

  Bloomberg Dell Technologies Inc, the computer company founded by Michael Dell, is considering buying the remaining outstanding shares in cybersecurity services operator Secureworks Corp, according to people with knowledge of the matter. The Round Rock, Texas-based company is exploring making an offer for the remaining 13.8% of shares it doesn’t own of Secureworks and fully consolidating the business, said the ...

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• 25 December

  Tesla arranges over $1.4 billion in financing from China

  

  Bloomberg Tesla Inc has lined up more than 10 billion yuan ($1.4 billion) in financing from local banks for its Shanghai factory as it prepares to begin deliveries of China-made Model 3 sedans in the country, people familiar with the matter said. An announcement will probably be made as soon as this week, one of the people said, asking not ...

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• 25 December

  ByteDance to sell TikTok stake amid US concerns

  

  Bloomberg China’s ByteDance Inc created one of the country’s rare global hits with the addictive video app TikTok Now the US government is threatening that success as officials in Washington warn the service presents a security threat. The Beijing-based company, led by Chief Executive Officer Yiming Zhang, is weighing a range of options to address those concerns, according to people ...

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• 25 December

  PG&E says Elliott, Pimco don’t deserve $5 billion ‘windfall’

  

  Bloomberg Bondholders don’t deserve a $5 billion “windfall” when PG&E Corp reorganises next year because the utility is in bankruptcy, voiding any right investors had to an early payoff premium, the company said in a court filing. PG&E’s bankruptcy-exit plan is built on a proposed funding package that includes refinancing about $17.5 billion of debt that has not yet matured. ...

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• 25 December

  Orban ally sells coal plant before overhaul

  Bloomberg The Hungarian conglomerate controlled by Prime Minister Viktor Orban’s closest business ally sold the country’s biggest coal-fired power plant to the state in a U-turn after the premier agreed to the European Union‘s climate deal. The transaction on Matrai Eromu plant, signed on Monday between Opus Global Nyrt and state-owned energy group MVM Zrt, means that the projected $1 ...

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