May, 2017

• 2 May

  China’s economy, financial markets in a tug of war

  

    Bloomberg China’s run of solid economic indicators proved little consolation for its shaky financial markets in April. The dichotomy stems from a shift in the leadership’s focus towards reducing leverage — one that’s set to determine whether growth joins asset prices in heading down. Economists are practically unanimous in saying that reduced debt loads would be good for China’s …

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• 2 May

  JD.com in talks to invest in Indonesia’s Tokopedia

  

    Bloomberg JD.com Inc., Alibaba’s fiercest rival in Chinese e-commerce, is in talks to make a major investment in Indonesia’s PT Tokopedia to speed its expansion into Southeast Asia’s largest economy, people familiar with the matter said. JD is in early-stage negotiations to invest hundreds of millions of dollars in one of Indonesia’s largest online marketplaces, one of the people …

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• 2 May

  SoftBank considers $1.4bn investment in India’s Paytm

  

    Bloomberg SoftBank Group Corp. is in talks to invest about $1.4 billion in India’s One97 Communications Ltd. in a deal that would value the owner of the country’s largest digital-payments provider at about $7 billion, according to people familiar with the matter. The deal is not yet finalized and the terms may yet change, said the people, asking not …

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• 2 May

  Pipeline firms push back against ‘buy American’ rule

  

    Bloomberg A directive requiring US pipeline companies to use American steel and iron in their projects is testing President Donald Trump’s ability to keep his promises to two industries on opposing sides of the issue. In comments to the US Department of Commerce, which is crafting the so-called “Buy American” plan, pipeline companies and their trade groups argued the …

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• 2 May

  UK manufacturing growth surges to fastest in three years

  

    Bloomberg UK manufacturing unexpectedly grew at the fastest pace in three years in April as the domestic market strengthened and the pound’s depreciation boosted exports. A measure of factory conditions rose to 57.3 from 54.2 in March, according to IHS Markit’s Purchasing Managers’ Index. That’s far better than the 54 forecast by economists in a Bloomberg survey and above …

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• 2 May

  Infosys to hire 10,000 US workers in 2 years

  

    Bloomberg India’s Infosys Ltd. said it plans to hire 10,000 Americans in the next two years, following criticism from the Trump administration that the company and other outsourcing firms are unfairly taking jobs away from US workers. Infosys, which employs about 200,000 people around the world, will expand its local hiring in the US while adding four hubs to …

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• 2 May

  Euro-area factories expand at fastest pace in six years

    Bloomberg Euro-area factories expanded output at the fastest pace since 2011 as the currency bloc’s economy continued to gather momentum. A gauge of manufacturing activity rose to 56.7 in April from 56.2 the previous month, IHS Markit reported. An April 21 preliminary estimate was for an increase to 56.8. With the European Central Bank showing little hurry to end …

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• 2 May

  Italian joblessness up as more seek work

    Bloomberg Italy’s unemployment rate unexpectedly increased in March as the number of people looking for a job rose and the pace of economic growth could not satisfy their demand. Joblessness climbed to 11.7 percent from 11.5 percent in February, statistics agency Istat said in Rome. The median estimate in a Bloomberg survey of 12 analysts called for a reading …

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• 2 May

  Boeing set to deliver first jets to Iran in 2018

  

    Bloomberg Boeing Co. is making ‘steady progress’ to complete the terms of an 80-jetliner sale to Iran Air and expects to deliver the initial planes next year, the first US aircraft exports to Iran since the country’s revolution in 1979. “That remains on track,” Chief Executive Officer Dennis Muilenburg told reporters Monday following the planemaker’s annual general meeting in …

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• 2 May

  Australia to build new Sydney airport

  

    Bloomberg Australia’s government said it will build a long-awaited second airport for Sydney after the operator of the city’s existing hub ruled out developing the project because of the “considerable” risks to shareholders. Details of the plan for Western Sydney Airport will be unveiled in the budget next week, Prime Minister Malcolm Turnbull said in an emailed statement Tuesday. …

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