November, 2019

• 20 November

  Trump’s campaign hit by trade war at Apple plant

  

  Bloomberg Donald Trump’s effort to tout US economic growth will clash with his trade war when he visits an Apple Inc factory in Texas, where Tim Cook will probably plead in-person to keep Macs and iPhones free from tariffs. Trump’s visit to the Austin factory, where Apple contractor Flex Ltd assembles some of the company’s laptops, is intended to highlight ...

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• 20 November

  Germany’s Wirecard says it followed all reporting obligations

  

  Bloomberg Wirecard AG said it followed all reporting obligations properly amid renewed concerns about its accounting practices related to a delayed audit of the German company’s accounts in Singapore. Ernst & Young couldn’t form a “final audit opinion” on the Singapore operations based on local SFRS accounting standards because the firm couldn’t access all documents due to restrictions from an ...

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• 20 November

  Aston Martin unveils first SUV in 106-year history

  

  Bloomberg This week at dual events in Los Angeles and Beijing, Aston Martin unveiled the first SUV in its 106-year history. The $189,000 DBX, one of the last luxury-brand SUV models to hit the market, jumps into a race of automakers intending to capitalise on buyers’ seemingly endless appetite for powerful and expensive SUVs, especially in China and the US. ...

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• 20 November

  EU warns France, Italy over risk of breaking fiscal rules

  

  Bloomberg Italy and France are at risk of breaching European Union (EU) spending rules, the bloc’s executive arm said, warning that only countries with a healthy budget position should be pushing expansionary policies. In a set of assessments, the European Commission said the 2020 spending plans of eight countries are “at risk of non-compliance.” In addition to France and Italy, ...

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• 20 November

  Google CEO opens new Japan campus

  Bloomberg Google Chief Executive Officer Sundar Pichai was in Tokyo to inaugurate the relocation of the company’s Japanese head office to an expansive new complex in the trendy district of Shibuya. Taking up the majority of the gleaming new 35-floor Shibuya Stream skyscraper, Google has put its name on the building and dedicated two floors to a newly launched Google ...

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• 20 November

  AI poised to impact high-skill US jobs including finance, tech

  

  Bloomberg Artificial intelligence (AI) is coming for America’s high-paid professions as it creates winners and losers across the labour market like never before. White-collar jobs and better-educated occupations along with production workers are among the most susceptible to AI’s spread into the economy, according to a Brookings Institution report that draws on a new analysis of patent data by a ...

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• 20 November

  ECB warns of risks to financial stability from its own stimulus

  

  Bloomberg The European Central Bank (ECB)warned of potential side effects from its loose monetary policy, highlighting how years of unprecedented stimulus designed to bolster the economy is contributing to an erosion of financial stability. Low interest rates have encouraged excessive risk-taking by investment funds and insurers as well as in some real estate markets, the ECB said in its semi-annual ...

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• 20 November

  RBI unearths $450m bad loans at Yes Bank

  

  Bloomberg India’s central bank has unearthed more than $450 million in extra bad loans at Yes Bank Ltd, the lender that is contending with a shadow-banking crisis and concerns over soured debt and capital. Gross non-performing assets assessed by the Reserve Bank of India (RBI) were 32.77 billion rupees ($457 million) higher than Yes Bank had disclosed as of March ...

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• 20 November

  HSBC to replace investment bank chief in latest overhaul

  

  Bloomberg HSBC Holdings Plc is set to replace its investment banking chief as part of an overhaul by interim Chief Executive Officer Noel Quinn, according to people familiar with matter. Samir Assaf, head of global banking and markets, will be moved to a non-executive role at the bank, said one of the people, who asked not to be named discussing ...

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• 20 November

  Zambia increases interest rate again

  Bloomberg Zambia’s central bank raised its key interest rate for a second time this year, bucking a global easing trend, in a bid to support its currency and tame inflation. The Bank of Zambia increased the rate to 11.5% from 10.25%, Governor Denny Kalyalya told reporters in Lusaka, the capital. That’s the highest level since May 2017. The central bank ...

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