November, 2019

• 4 November

  UK construction falls amid weak demand

  

  Bloomberg UK construction extended its longest contraction since 2013 in October as domestic political turmoil and a weak economic backdrop weighed on demand. IHS Markit’s index of building activity rose to 44.2, from 43.3 in September, but remained below the 50 threshold that indicates expansion for a sixth month. Civil engineering led the drop, with residential home building also losing ...

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• 4 November

  Fitbit seeks tariff relief as it exits china

  Bloomberg Fitbit Inc, soon to be acquired by Google, says it’s shifting manufacturing operations out of China for its health trackers and smart watches to avoid US tariffs. But until then, it wants relief from President Donald Trump’s duties. The smart watch maker has filed a request for an exclusion on the 15% duty that took effect from September 1 ...

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• 4 November

  Ross optimistic US-China trade deal by Nov

  

  Bloomberg US Commerce Secretary Wilbur Ross met with Chinese Premier Li Keqiang at a regional summit in Bangkok, a person familiar with the discussion said. The meeting came hours after Ross told a morning business forum that the US was “very far along” with “Phase One” of a trade deal with China. President Donald Trump told reporters at the White ...

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• 4 November

  Indian tycoon Piramal to exit Shriram Captial

  

  Bloomberg Jay Piramal said he plans to resign as chairman of Shriram Capital Ltd, the Indian non-bank finance company backed by South Africa’s Sanlam Group, as he works to sell his stake in Shriram’s parent group. “I will step down in due course as I do not have much role in Shriram Capital,” Piramal said in a recent interview in ...

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• 4 November

  Singapore bans electric scooters on sidewalks

  

  Bloomberg Singapore banned electric scooters from footpaths after a string of injuries from collisions with pedestrians. Starting from October 5, the city-state’s government will fine riders on footpaths as much as S$2,000 ($1,474) or jail them for three months, or both, Senior Minister of State for Transport Lam Pin Min said. Electric scooters have become a popular option in a ...

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• 4 November

  Ambani advises telecos how to raise money

  

  Bloomberg Billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd opposed any move by the government to provide financial relief to rival telecom operators, which have been ordered to pay $7 billion in past dues, saying they had adequate recourse to funds. Bharti Airtel Ltd can easily raise 400 billion rupees ($5.7 billion) by selling some of its assets or shares while ...

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• 4 November

  Microsoft Japan: Four-day work week boosted sales

  Bloomberg After spending August experimenting with a four-day work week in a country notorious for overwork, Microsoft Japan said sales per employee rose 40% compared with the same month last year. The “Work-Life Choice Challenge Summer 2019” saw full-time employees take off five consecutive Fridays in August with pay, as well as shortening meetings to a maximum of 30 minutes ...

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• 4 November

  China approves first new drug to treat Alzheimer’s in 17 years

  

  Bloomberg China approved a drug to treat Alzheimer’s made by a Shanghai-based pharmaceutical company, the first new therapy endorsed for the disease in 17 years and a major breakthrough in the country’s push to become a leader in scientific research. The National Medical Products Administration said in a statement that it granted conditional approval to Oligomannate. In trials, the drug ...

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• 4 November

  Abe, Moon break ice after worst Japan-South Korea fight in years

  

  Bloomberg South Korean President Moon Jae-in and Japanese prime minister Shinzo Abe agreed in their first meeting in 14 months to ease tensions, according to the South Korean presidential office. Moon and Abe shared the view that the relationship between South Korea and Japan is important and re-affirmed in principle that issues between the two nations should be resolved via ...

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• 4 November

  Ethiopia violence: PM urges unity as toll hits 86

  

  Bloomberg The death toll from last month’s protests in Ethiopia has risen to 86 people, Prime Minister Abiy Ahmed said on national television. “There would be no need for these differences if we solved our quarrels through reconciliation,” he said. “Our unity, co-existence will benefit our growth, prosperity and greatness.” Violence, mostly amid rival groups, broke out in parts of ...

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