December, 2019

• 11 December

  S’pore property developer wants curbs eased to beat glut

  

  Bloomberg Singapore’s property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state’s second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don’t complete construction and sell all units within a period of ...

  Read More »
• 11 December

  Indonesia discussing ways to relax fiscal deficit cap: Minister

  

  Bloomberg Indonesia’s cabinet is discussing amending a legally imposed cap on the budget deficit, which would allow the government to spend and borrow more to stimulate growth in Southeast Asia’s biggest economy. President Joko Widodo is holding talks on the matter, although for now, the current annual ceiling of 3% of gross domestic product remains, finance minister Sri Mulyani Indrawati ...

  Read More »
• 11 December

  Google not liable for defamatory content

  

  Bloomberg Alphabet Inc’s Google isn’t liable for defamatory content posted on its platforms after 2009, India’s top court ruled, reaffirming immunity for Internet companies in the world’s second-most populous nation. The verdict, which reiterates a 2015 ruling, comes as a relief for social media companies, online retailers and service providers who are facing increasing pressure from the Indian government to ...

  Read More »
• 11 December

  South Korea unemployment edges up for a third month

  Bloomberg South Korea’s jobless rate ticked higher for a third month, an unexpected outcome that illustrates the challenge of boosting hiring in an economy struggling with slumping exports and weak investment. The unemployment rate climbed to 3.6% in November, seasonally adjusted data from the statistics office showed Wednesday. Economists had predicted the rate would stay unchanged at 3.5%. The jobless ...

  Read More »
• 11 December

  South Africa crisis eases as power plants fixed

  Bloomberg South Africa’s energy crisis eased as state power utility Eskom Holdings SOC Ltd scrambled to repair broken plants and supplemented supply using gas turbines and pumped-storage facilities. Power cuts, known locally as load shedding, should be limited to 2,000 megawatts on Wednesday — down from a peak of 6,000 megawatts — and are expected to end next week, Eskom ...

  Read More »
• 11 December

  US firm sells coal plant stake

  Bloomberg Washington state’s biggest utility is selling a stake in one of America’s largest coal-fired power plants for $1, seeking to comply with a new state law requiring energy companies to stop using the fuel by 2025. Puget Sound Energy Inc agreed to sell its 25% stake in the 740-megawatt Colstrip Unit 4 facility.

  Read More »
• 11 December

  Huawei wins deal to help build German 5G network

  

  Bloomberg China’s Huawei Technologies Co just got a seal of approval from one of Germany’s biggest telecom companies. Telefonica SA’s German unit, which operates the country’s second-largest wireless network, picked Huawei and Finland’s Nokia Oyj to take an equal role supplying its fifth-generation mobile phone network upgrade, the company said in a statement Wednesday. The deal is subject to the ...

  Read More »
• 11 December

  GM prepares SUV counteroffensive with Chevy Tahoe

  

  Bloomberg Everything about the new Chevrolet Tahoe SUV is big. General Motors Co redesigned the large people-hauler to be about six inches longer to compete with the revamped Ford Expedition’s roomy third-row seat. Now it’s almost 18 feet (5.5 meters) long. The profit margin is also fat: around 20%, according to Bloomberg Intelligence analyst Kevin Tynan. The segment’s fruitfulness explains ...

  Read More »
• 11 December

  Uber and Lyft ‘well positioned’ to turn a profit, Barclays says

  

  Bloomberg A new analysis by Barclays Capital of about 2.4 billion taxi and ride-hailing trips in New York City addresses the biggest question investors have about Uber Technologies Inc and Lyft Inc. When will they turn a profit? The good news, according to analysts Jeffrey Meli, Adam Kelleher, Ryan Preclaw and Ross Sandler, is that Uber and Lyft are well-positioned ...

  Read More »
• 11 December

  Facebook, Google drop out of top 10 ‘best places to work’ list

  

  Bloomberg Big tech companies like Facebook Inc and Alphabet Inc’s Google, long seen as some of the world’s most desirable workplaces offering countless perks and employee benefits, are losing some of their shine. The Silicon Valley companies dropped out of the Top 10 “best places to work” in the US, according to Glassdoor’s annual rankings. HubSpot Inc, a cloud-computing software ...

  Read More »