December, 2019

• 9 December

  Impeachment case against Trump goes to closing arguments

  Bloomberg House investigators give their closing summations on Monday in the Democrats’ case against President Donald Trump as they continue debating how far they want to go in drafting articles of impeachment later this week. Judiciary Chairman Jerrold Nadler said his panel is on track to decide on what charges will be brought against the president, setting up an historic ...

  Read More »
• 9 December

  Europe stocks, US futures edge lower as bonds climb

  

  Bloomberg US equity futures edged down alongside European stocks as investors prepared for a week brimming with potential catalysts, from central bank meetings to the looming America-China tariff deadline. Treasuries and most government bonds advanced. Contracts on the main US equity gauges all struggled for traction as traders awaited news on whether Washington will go ahead with a planned December ...

  Read More »
• 9 December

  Tullow oil plunges again on worse forecast for 2020

  

  Bloomberg Tullow Oil Plc shares had their biggest ever drop after a forecast for 2020 production that analysts said leaves dark clouds hanging over the company’s outlook. The stock sank as much as 62% after London-based Tullow also said it would suspend dividend payments, while its chief executive officer and exploration director are to leave. It’s the second plunge in ...

  Read More »
• 9 December

  PG&E soars on $13.5b deal with fire victims

  Bloomberg PG&E Corp surged to a two-month high after reaching a $13.5 billion settlement with the victims of wildfires ignited by its power lines — a major step towards resolving the biggest utility bankruptcy in US history. The agreement, will cover claims stemming from some of the worst blazes to ever hit Northern California, including the 2017 wine country and ...

  Read More »
• 9 December

  China sets up national pipeline firm in major energy revamp

  

  Bloomberg China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand. The move marks a “key step” in China’s efforts to deepen reforms of its oil and gas sector, the official Xinhua News Agency said. The government will merge ...

  Read More »
• 9 December

  Eskom warns of more blackouts in S Africa

  

  Bloomberg South Africa’s struggling power utility warned rolling blackouts may continue throughout the week as electricity cuts extended to a fifth day. Eskom Holdings SOC Ltd announced it will cut 4,000 megawatts from the grid on Monday, double the initial prognosis, after losing additional generating units at its power stations. While most of the utility’s problems emanate from plant failures, ...

  Read More »
• 9 December

  Climate change hangs over China’s embrace of markets

  

  For all the good intentions of the governments gathered in Madrid, a humbling reality hangs over the latest climate change conference. The effectiveness of what is agreed and done will ultimately stand or fall on the actions of just one country: China. It was the rise of China and to a lesser extent India, with their associated energy demands, that ...

  Read More »
• 9 December

  It’s not easy being a green oil firm

  

  The oil industry knows the dirty business of extracting fossil fuels is likely to gush cash for the foreseeable future. But it also knows it needs to be a central part of the solution to the climate crisis. Trying to keep both ideas in mind, Repsol SA made an eye-catching commitment: to become carbon neutral by 2050. Unfortunately, achieving that ...

  Read More »
• 9 December

  Uber’s assault report erodes power of trust

  What to make of the alarming data on assaults, murders and other unsafe incidents reported by Uber Technologies Inc.? More than 3,000 assault allegations were made in 2018 by Uber drivers and passengers in the US, the company said in a first-of-its-kind safety report. We can’t know from the data if Uber is statistically safer than other forms of transportation, ...

  Read More »
• 9 December

  Singapore keeps building until buyers are coming

  You’ll build and they’ll come? Well, don’t bet on it. That’s what Singapore’s authorities seem to be telling property developers, who are flooding the market with new homes. The builders themselves are getting nervous about the glut. But everyone — the prospective homeowner, the seller and the government — is actually lucky. A minor bubble got pricked in time, with ...

  Read More »