October, 2019

• 28 October

  Volkswagen CFO outlines road map for $222 billion ambition

  

  Bloomberg Days before production starts on Volkswagen AG’s cornerstone electric vehicle, the German manufacturer is stepping up a campaign to more than double the market value and gain investor recognition for the industry’s most ambitious technology push. In an internal newsletter sent last week, Chief Financial Officer Frank Witter prodded managers to get behind a goal to reach a valuation ...

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• 28 October

  Activist Elliott praises AT&T’s three-year plan

  

  Bloomberg AT&T Inc shares rose after the company won plaudits from Elliott Management Corp with a three-year plan to do much of what the activist shareholder has pressed for, including separating its chairman and chief executive officer roles. AT&T said it would reach earnings of $4.50 to $4.80 a share by 2022, compared with analysts’ current estimate of $3.39 a ...

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• 28 October

  Burned in 2008, Americans are refusing to tap home equity

  

  Bloomberg Once-popular loan Americans use to finance home renovations and college tuition is slowly dying, slashing a lucrative source of revenue for the nation’s largest banks. Home equity lines of credit, open-ended loans that homeowners tap for cash using their properties as collateral, exploded in the run-up to the housing crash a decade ago, doubling in volume from 2003 to ...

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• 28 October

  Tapping Australia shale would worsen carbon emissions: Study

  

  Bloomberg Opening up a potentially huge shale gas region in Australia’s Northern Territory would increase the country’s already-hefty greenhouse gas emissions making it a “particularly dangerous” contributor to climate change, according to a new study. The report, commissioned by environmental lobby group Lock The Gate, tested a range of scenarios for development of the McArthur Basin and Beetaloo sub-basin, which ...

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• 28 October

  Pakistan’s tycoons offer to take over former Barrick mine

  

  Bloomberg Pakistan’s top business tycoons have offered to take over a disputed copper and gold deposit that was once explored by Barrick Gold Corp. and Antofagasta Plc, according to people familiar with the matter. Officials at the provincial Balochistan government are said to have met with a consortium of four business groups including tycoons Arif Habib and Muhammad Ali Tabba ...

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• 28 October

  Impeachment probe: Trump gets no respite after US raid

  

  Bloomberg President Donald Trump scored one of the biggest successes of his presidency with the killing of an IS leader, yet the battlefield victory isn’t likely to blunt the momentum of Democrats moving closer to impeaching him. The inquiry led by three House committees resumed with another slate of witnesses, even as the country absorbs Trump’s dramatic announcement of the ...

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• 28 October

  Fernandez wins in Argentina as Macri’s austerity rebuffed

  

  Bloomberg President-elect Alberto Fernandez will discuss the transition of power in Argentina with the defeated incumbent, Mauricio Macri, after an election in which voters opted for left-wing populism over pro-market policies to combat the country’s economic crisis. Fernandez, a political insider who has never held national office, was expected to meet with Macri on Monday after sweeping to power in ...

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• 28 October

  EU agrees to ‘Brexit extension’ as UK election looms

  

  Bloomberg The European Union agreed to grant the UK a three-month Brexit delay to January 31, removing the risk of a damaging no-deal split on Thursday as the British government tries to end the impasse in parliament. Prime Minister Boris Johnson was expected to push a vote in the House of Commons on Monday to trigger an early general election, ...

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• 28 October

  Merkel coalition battered in regional vote

  

  Bloomberg Chancellor Angela Merkel’s coalition faced a renewed setback with a resounding defeat in a state election and its main ally wavering over support for the government. Merkel’s Christian Democrats Union (CDU) plummeted nearly 12 percentage points from 2014 to 21.8% in an election for state assembly in the eastern state of Thuringia, according to preliminary results. At the same ...

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• 28 October

  Mozambique’s Nyusi wins landslide victory

  

  Bloomberg Mozambique president Filipe Nyusi won a second term by a landslide in the natural-gas-rich nation’s October 15 elections that the main opposition rejected as a “mega fraud.” Nyusi won 73% of the vote, compared with rival Ossufo Momade’s 22%, the electoral commission announced in the capital Maputo. His party also won all 10 gubernatorial ballots and more than 70% ...

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