January, 2020

• 4 January

  Ousted Bitmain co-founder wages battle for control in court

  

  Bloomberg Ousted Bitmain Technologies Ltd co-founder Micree Zhan Ketuan has initiated a legal case to try to regain his position, escalating a battle for control of the world’s biggest miner of cryptocurrency. Great Simplicity Investment Corporation, owned by the engineering whiz-turned-entrepreneur, filed a summons in December in which he asked a Cayman Islands court to reverse a shareholder decision that ...

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• 4 January

  HK unveils plan to deal with pneumonia cases

  Bloomberg Hong Kong unveiled a plan to deal with infectious diseases after a mysterious pneumonia outbreak in the central Chinese city of Wuhan. The government classified the response level as “serious” — the second-highest scale of action in its three-tier system, with the top-most being emergency, according to the Department of Health. The public hospitals in Hong Kong have reported ...

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• 4 January

  US automakers sow worry on future as discounts prop sales

  

  Bloomberg Carmakers extended a streak of strong US sales by slathering on the incentives and pumping up deliveries to fleet customers in 2019, calling into question whether the companies can maintain momentum into the new decade. While industrywide deliveries exceeded 17 million for an unprecedented fifth consecutive year, sales slowed in the final months of 2019. General Motors Co and ...

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• 4 January

  US factory gauge hits 10-year low amid global slowdown

  

  Bloomberg US manufacturing closed out a tumultuous year with the weakest monthly performance since the end of the recession, with orders shrinking and factories continuing to dial back production. The Institute for Supply Management’s purchasing managers’ index fell to 47.2 in December, 2019 from 48.1, the fifth straight month of contraction and missing estimates for a rise in a Bloomberg ...

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• 4 January

  Apollo-backed security firm in talks for debt restructuring

  

  Bloomberg Constellis Holdings LLC, a security contractor backed by Apollo Global Management Inc, is in talks with creditors on a deal to restructure its $1 billion of debt, according to people with knowledge of the discussions. The firm, which has provided some security services around the US embassy complex in Iraq — the site of anti-American protests this week — ...

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• 4 January

  Apple CEO’s pay falls about $10m in 2019

  

  Bloomberg Apple Inc Chief Executive Officer Tim Cook made $125 million in the company’s 2019 fiscal year, less than the year before due in part to a lower bonus. Cook got a $3 million salary, a $7.7 million bonus and $884,466 in perks and other compensation in the latest period, the Cupertino, California-based technology giant said in a filing. The ...

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• 4 January

  NYC jobs fell more than 50k in year through Nov

  

  Bloomberg The job market soured in the Big Apple in November, according to Labour Department data. Despite a 52,134 decline, a surge in hiring in the New York City suburbs helped the New York-Newark-Jersey City, NY-NJ-PA metropolitan area to the second-largest jobs gain in the country with a 99,400 jump. The Dallas-Fort Worth-Arlington, Texas region witnessed the nation’s largest metro-area ...

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• 4 January

  Amazon threatens to fire climate activists, group says

  

  Bloomberg A group of Amazon.com Inc employees who pushed the company to combat climate change say Amazon has threatened to fire some of them if they continue to speak out about their employer’s internal affairs. Two were threatened with termination, a spokesperson for Amazon Employees for Climate Justice said, and a total of four were told in meetings that they ...

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• 4 January

  Washington moves to brief allies cautious after Baghdad strike

  

  Bloomberg The US moved quickly to brief governments abroad and seek support for its decision to kill the Iranian commander in charge of its elite Quds force, with Secretary of State Michael Pompeo calling counterparts in France, the UK, Russia and other major powers. Foreign leaders largely reacted with caution to President Donald Trump’s decision to launch a strike that ...

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• 4 January

  Sanchez makes bid to start Spain’s new government

  

  Bloomberg Pedro Sanchez began his bid on Saturday to form a new government with assistance from a Catalan separatist party as he urged Spain’s parliament to help him end the country’s political deadlock. Sanchez, Spain’s acting prime minister, needs to win the endorsement of the 350-seat chamber in a voting process that will continue until Tuesday. He is likely to ...

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