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Bloomberg The US Justice Department is readying a lawsuit against Live Nation Entertainment Inc over alleged violations of conditions imposed on the company by regulators when it bought Ticketmaster nearly a decade ago, according to a person familiar with the matter. The department’s antitrust division approved the merger in 2010 after imposing a host of rules that that were intended ...
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December, 2019
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15 December
Mercedes delays US EV debut as Audi, Jaguar SUVs flop
Bloomberg Mercedes-Benz is putting off the US debut of its first electric vehicle by a year in the latest sign of just how difficult a time automakers are having replicating Tesla Inc’s success. Daimler AG’s luxury brand will start sales of the EQC crossover in 2021 rather than early next year. The German carmaker said in an emailed statement that ...
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15 December
Jingye’s plan to purchase British Steel assets at risk
Bloomberg Jingye Group Co’s planned acquisition of the assets of troubled steelmaker British Steel is at risk of falling through, the Sunday Telegraph reported. Discussions with the Chinese steel conglomerate are under threat as a deadline to finalise the terms nears, the newspaper said, citing unidentified sources. Officials and accountants are in informal talks with alternate buyers, the Telegraph added. ...
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15 December
Google culture war escalates as era of transparency wanes
Bloomberg Each morning, workers at Google get an internal newsletter called the “Daily Insider.†Kent Walker, Google’s top lawyer, set off a firestorm when he argued in the November 14 edition that the 21-year old company had outgrown its policy of allowing workers to access nearly any internal document. “When we were smaller, we all worked as one team, on ...
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15 December
Deutsche Bank considers cutting bonus pool by 20%
Bloomberg Deutsche Bank AG is considering deep cuts to bonuses for this year as Chief Executive Officer (CEO) Christian Sewing seeks to eliminate billions of euros of costs in a radical restructuring. Germany’s largest lender may reduce discretionary compensation by as much as 20%, outpacing a 5% decline in the bank’s workforce this year, according to people with knowledge of ...
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15 December
BOE’s Carney looms over Trudeau’s quest for next Bank of Canada governor
Bloomberg A friendly lunch in Ottawa this week between Mark Carney and Prime Minister Justin Trudeau raises an interesting question: How large will the Bank of England (BOE) governor loom in the search for a successor at Canada’s central bank. It’s only a coincidence Monday’s meeting took place a few days after Stephen Poloz announced he won’t seek a second ...
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15 December
Offshore yuan sees biggest rally since August
Bloomberg The offshore Chinese yuan staged its biggest rally in more than four months as the US reached a trade agreement with China, paving the way to at least a temporary end to tension that has roiled markets all year. The yuan advanced 1.2% to 6.9457 per dollar, the highest since July 31 after trimming a gain of as much ...
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15 December
SoftBank’s largest deals in Latin America yet to come
Bloomberg SoftBank Group Corp has no plans to slow down its multibillion-dollar foray into Latin America. After investing between 6 billion reais ($1.5 billion) and 10 billion reais in 19 firms in the region in 2019, the Tokyo-based firm is planning on potentially making fewer but larger deals in the new year, SoftBank Group International managing partner Andre Maciel told ...
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15 December
Fed’s Clarida dismisses weak retail sales, says outlook solid
Bloomberg Federal Reserve Vice Chairman Richard Clarida brushed aside news of weaker-than-expected retail sales in November and said the US economy looks headed for a solid 2020 based on a strong labour market and a robust consumer. “The US consumer’s never been in better shape in my professional career,†Clarida said in an interview with Fox Business Network, repeating an ...
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15 December
‘Homes are for living in,’ PBOC warns developers
Bloomberg China’s central bank warned property speculators that “homes are for living in†as the regulator pledged to properly regulate the real estate market. The People’s Bank of China also said it will be “flexible†and “appropriate†in setting prudent monetary policy, and will boost financial support to manufacturers and the private sector, according to a statement after a meeting. ...
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