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Bloomberg For years India’s state-run companies coughed up hefty dividends when the government needed cash. Now the treasury is being forced to return the favour. Prime Minister Narendra Modi will spend about $9.5 billion to resuscitate telecom firms Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, Telecom Minister Ravi Shankar Prasad said.
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November, 2019
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2 November
Samsung Q3 earnings beat profit estimates on strength of smartphones and displays
Bloomberg Samsung Electronics Co posted better-than-expected earnings and projected a gradual recovery in the memory chip market in 2020 as fifth-generation wireless technology rolls out globally. Shares in South Korea’s largest company climbed as much as 2% after it posted net income of 6.1 trillion won ($5.2 billion) for the September quarter, surpassing the 5.5 trillion won average of projections. ...
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2 November
Ford’s $6b deal with United Auto Workers goes for vote
Bloomberg United Auto Workers (UAW) leaders endorsed a tentative agreement with Ford Motor Co and sent it to workers for a ratification vote after contract negotiations that lacked the drama surrounding the 40-day strike at General Motors Co. While the deal calls for the closing of an engine plant in Michigan, it also includes $6 billion of product investments in ...
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2 November
UK lawmakers invite 30,000 to attend first climate change session
Bloomberg UK lawmakers have sent invitations to 30,000 people across the UK to take part in Britain’s first Climate Change Assembly. The assembly, which will be organised by cross-party committees, will garner views from citizens on how to reach Britain’s target of reaching net zero emissions by 2050, the committees said in a joint statement. “We now need to set ...
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2 November
Facebook shows ‘user growth’ possible
Bloomberg Facebook Inc delivered better-than-projected third-quarter sales and steady user growth, proving that its business can endure increasing regulatory scrutiny and criticism over its immense reach and influence. The social-media giant’s monthly global user base grew by 35 million — including 3 million new users in the lucrative North American market, which had looked like it reached a plateau in ...
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2 November
California govenor warns of ‘restructuring’ PG&E
Bloomberg California Governor Gavin Newsom threatened a state takeover of PG&E Corp unless the beleaguered utility giant makes a swift exit from bankruptcy and improves its operations to reduce the risk of wildfires. “We are gaming out a backup plan if Pacific Gas and Electric is unable to secure its own fate and future,†Newsom said. Newsom again blasted PG&E ...
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2 November
Apple creates new ways to juice sales in saturated market
Bloomberg Apple Inc executives put aside their typical praise of the iPhone’s sleek design and breakthrough technology for more mundane topics such as instalment plans, trade-in programs and giveaways. This is the reality for the Cupertino, California-based technology giant. The smartphone market is saturated and growing slowly at best, so Apple must find new ways to persuade consumers to upgrade ...
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2 November
Will Trump win battle for public opinion?
It increasingly seems that the fate of Donald Trump’s presidency will be settled by that old political standby: public opinion. By all reports, Democrats have more than enough votes in the House of Representatives to impeach Trump — that is, to indict him for “high crimes and misdemeanors” and to send the articles of impeachment to the Senate. This now ...
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2 November
Deutsche Bank can’t hide from truth
No one said this was going to be easy. Deutsche Bank AG’s chief executive officer Christian Sewing is trying to shrink his company’s vast trading business and expand in lending, all while global economies sputter. But just three months into a three-year restructuring plan, he may have to rein in expectations of what it will achieve. That’s hardly reassuring. The ...
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2 November
Being good enough isn’t good for picky gamers
Video games usually give you infinite attempts to fail and respawn when trying to pass a level. Ultimately, though, you’d rather succeed at the first attempt. And the more time you spend playing just a handful of different games, the better you’ll get at them. That’s much like the gaming industry itself. If Ubisoft Entertainment SA’s latest flagship title proves ...
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