October, 2019

• 23 October

  Ghana loses $190m grant after canceling power deal with PDS

  Bloomberg Ghana will no longer have access to $190 million in grants from the Millennium Challenge Corp. after terminating a private consortium’s contract to operate the country’s electricity distribution network. Ghana annulled agreement reached under US agency’s aid program as it questioned legitimacy of payment guarantees supplied by Power Distribution Services Ltd. to secure assets of Electricity Co. of Ghana ...

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• 23 October

  Peugeot maker weathers auto industry slump in Q3

  

  Bloomberg The maker of Peugeot cars weathered a slump in the auto industry in the third quarter, helped by demand for popular models like the Peugeot 508 and Citroen C5 Aircross. PSA Group’s revenue grew 1% from a year earlier, the French company said on Wednesday, just ahead of the average estimate of analysts. Automotive revenue was stable. The carmaker, ...

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• 23 October

  Global economy woes leaving mark on Swiss industry

  

  Bloomberg The global economic downturn is increasingly leaving its mark on Swiss industry, raising the prospect of a further deterioration of momentum in the export-oriented nation. Swiss industrial giant ABB Ltd felt the effect of a drop in factory investment in the third quarter as robotics and automation orders slumped. Steelmaker Schmolz + Bickenbach AG announced it would respond to ...

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• 23 October

  Renault joins Toyota, Mercedes with hydrogen delivery van

  

  Bloomberg Renault SA will offer its electric Kangoo van with added hydrogen fuel-cells before the end of the year and roll out the technology to another model in 2020. The move sees the French carmaker joining competitors Toyota Motor Corp and Hyundai Motor Co in sticking with fuel-cell vehicles even as the industry largely backs electric cars powered by lithium-ion ...

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• 23 October

  UK services exports drop as trade with EU falls, says ONS

  Bloomberg The value of UK services exports fell in the second quarter, driven by a decline in trade to the European Union. Overseas sales in that category decreased to $93 billion in the three months through June, down 2.1% from a year earlier, Office for National Statistics (ONS) data. Those to the EU dropped 1.7 billion pounds, primarily caused by ...

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• 23 October

  Texas Instruments sinks as customers cut orders

  

  Bloomberg Texas Instruments Inc shares plunged the most in almost 11 years after the chipmaker gave a weaker-than-expected forecast and warned that trade tension is making customers far more cautious. The report spurred a selloff in semiconductor stocks. Investors have poured money into chip stocks this year, betting on a rebound in demand. That hasn’t happened as a US-China trade ...

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• 23 October

  Waters urges Facebook to drop Libra plan for now

  Bloomberg House Financial Services Committee Chairwoman Maxine Waters said Facebook Inc should cease work on its cryptocurrency project until the company addresses a series of unrelated “deficiencies” in its social-media business. Waters, speaking at a hearing featuring CEO Mark Zuckerberg, cited Facebook’s misappropriation of users’ personal data, its role in allowing Russia to influence the 2016 presidential election and the ...

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• 23 October

  US should double down on support for Lebanon

  

  The aftershocks of President Trump’s abandonment of the Kurds in Syria are rumbling through the region, and a string of Lebanese officials told me last week that they fear they’re the next to be discarded by America. Lebanese politicians and security officials, in a series of off-the-record conversations, expressed concern about Trump’s acquiescence to Turkey’s invasion of Syria, and the ...

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• 23 October

  Are SUVs really cooking the planet?

  

  A worldwide preference for bigger, heavier cars has led to a nearly six-fold increase in the number of SUVs on the road since 2010 — and made them the second-biggest contributor to the rise in carbon dioxide emissions, the International Energy Agency reported. Only power generation is causing a bigger increase in emissions. SUVs are also the reason that oil ...

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• 23 October

  Warren’s $30 trn ‘Medicare for All’ problem has a solution

  

  It’s not easy being the front-runner. Massachusetts Senator Elizabeth Warren, the leading Democratic presidential hopeful, has come under increasing attack from the rest of the pack for her backing of fellow candidate Bernie Sanders’s “Medicare for All” proposal and her disinclination to explain how she’d pay for it. They’ll continue to do so as they attempt to prevent her from ...

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