November, 2019

• 17 November

  India minister rules out quick recovery from economic slowdown

  

  Bloomberg India’s finance minister Nirmala Sitharaman said it was too early to say if the slowdown in the economy had bottomed out. Companies are planning new investments after $20 billion worth of corporate tax cuts announced in September, Sitharaman told reporters in New Delhi. Actual investments may take some time to materialise, she said. Prime minister Narendra Modi’s government has ...

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• 17 November

  US, China trade negotiators discuss phase one concerns

  

  Bloomberg US and Chinese trade negotiators held “constructive discussions” in a phone call to address each side’s core concerns of phase one of the trade deal. China’s Vice Premier Liu He, the country’s key negotiator in the trade talks with the US, spoke with Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, according to the Chinese Commerce Ministry. The ...

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• 17 November

  ArcelorMittal gets approval for Essar deal

  

  Bloomberg ArcelorMittal won approval from India’s top court to complete its $5.8 billion purchase of a bankrupt steel mill, clearing the way for tycoon Lakshmi Mittal to enter the world’s second-biggest market. The Supreme Court allowed Arcelor to make the payment for Essar Steel India Ltd and set aside a bankruptcy appellate tribunal’s order that had given secured and unsecured ...

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• 17 November

  Nissan recalls 400,000 cars on fire hazard concern

  

  Bloomberg Nissan Motor Co is recalling 394,025 cars in the US, including the Pathfinder sport utility vehicle, on concern brake fluid may leak into internal circuit boards and cause fires. The recall includes, Murano SUVs from 2015 through 2018, Pathfinder SUVs from 2017 to 2019, Maxima sedans from 2016 to 2018, and Infiniti QX60 luxury crossovers from 2017 to 2019 ...

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• 17 November

  Malaysia sees weak GDP growth amid global slump

  Bloomberg Malaysia’s economic growth eased in the third quarter to its slowest pace in a year amid declining exports and weaker factory output. Gross domestic product rose 4.4% in the three months through September from a year ago, according to figures from the central bank. The slower third-quarter print comes after Malaysia’s economy bucked regional trend in previous 3 months ...

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• 17 November

  Indonesia leaves 5G airwave door open for Huawei

  

  Bloomberg Indonesia is preparing to auction additional airwaves to telecom carriers to allow them offer 5G services and will ensure a level-playing field to wireless equipment suppliers including Huawei Technologies Co. The government is taking steps to guarantee adequate spectrum will be available for mobile-phone carriers before deciding on a schedule for the sale, Communications Minister Johnny G Plate said ...

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• 17 November

  Royal Dutch Shell traders post $1bn profit in fuel oil market

  

  Bloomberg Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener. Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. Shell traders celebrated ...

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• 17 November

  Uniper plans to switch on more natural-gas plants

  Bloomberg Uniper SE is preparing to switch on more natural-gas plants as higher costs for carbon allowances shifted the economics of the power generation business away from coal. Gas plants also are benefiting both from a slump in the price of the fuel. Uniper, one of Europe’s largest utilities, will bring back on line as much as 3.5 gigawatts of ...

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• 17 November

  Spain’s Iberdrola targets Asia-Pacific growth with foray into Australia

  

  Bloomberg Spain’s Iberdrola SA has selected a site for its first project in the Asia-Pacific region, as Europe’s biggest renewable generator looks to expand beyond its core markets. The Bilbao-based company seeks to start a 320-megawatt hybrid wind and solar plant in South Australia in 2021, kicking off planned investments of about $340 million in the country’s renewables sector, it ...

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• 17 November

  Amazon antitrust complaint filed in US gets EU attention

  

  Bloomberg Amazon.com Inc’s big push into logistics is getting scrutiny from European Union (EU) antitrust regulators who asked the US to share an online merchant’s complaint against the retail giant, according to documents reviewed by Bloomberg and two people familiar with the matter. The online merchant accused Amazon of rewarding those who pay for the company’s warehousing, packing and delivery ...

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