November, 2019

• 6 November

  Mitsubishi cuts profit outlook by $550mn

  

  Bloomberg Mitsubishi Motors Corp slashed its annual profit and sales outlook, becoming the latest Japanese automaker hit by sputtering global demand and a stronger yen. Operating profit for the fiscal year through March 2020 will be 30 billion yen ($275 million) instead of 90 billion yen, the company said in a statement, citing decreases in wholesale volumes and the impact ...

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• 6 November

  Softbank defiant as WeWork triggers loss

  

  Bloomberg Masayoshi Son struck a defiant tone after his SoftBank Group Corp reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies Inc. The Japanese billionaire paced a stage in Tokyo showing off dozens of slides that he argued demonstrate the promise of his deal-making. He began by flashing a slide of newspaper headlines and mocking reports ...

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• 6 November

  Macron, Xi pledge to uphold free trade during China visit

  

  Bloomberg China and France vowed to uphold multilateralism and free trade and build an open global economy, as President Xi Jinping nears a phase one trade deal with the US. Xi’s comments came during a three-day visit to China by President Emmanuel Macron. “Together, we sent a strong signal to the world to firmly uphold multilateralism and free trade and ...

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• 6 November

  India to set up regulator to end e-commerce disputes

  

  Bloomberg India is examining the feasibility of setting up a regulatory authority to settle disputes related to e-commerce, a top government official said, amid a raging battle between big online retailers and mom-and-pop stores. The proposal being considered comes after small traders approached the government with allegations of predatory pricing and deep discounting by Amazon.com Inc and Walmart Inc. They ...

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• 6 November

  Mozambique’s ENH to attract investors for $1.5b gas funding

  

  Bloomberg Mozambique will court investors for $1.5 billion of financing for a giant natural-gas project run by Total SA. State oil company Empresa Nacional de Hidrocarbonetos will kick off a funding roadshow in Johannesburg next week before moving on to London, said Chief Executive Officer Omar Mitha. The project — potentially transformative for Mozambique’s ailing economy — includes the development ...

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• 6 November

  Aramco raises light oil pricing to Asia

  

  Bloomberg Saudi Aramco raised December pricing for sales of its light oil grades to Asia to their highest levels since 2014, just a day after announcing it will sell shares for the first time. The state-owned oil producer increased monthly pricing for shipments of all crudes to the US. Aramco increased its official selling price for flagship Arab Light crude ...

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• 6 November

  As impeachment begins, some nagging questions

  

  A standard theme in detective thrillers is that the perpetrator feels compelled to return to the scene of the crime. It’s an irrational urge, and readers of such potboilers are often left wondering whether the protagonist secretly wants to get caught. Perhaps we’re living a real-life version of this fictional plot in President Trump’s alleged solicitation of political help from ...

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• 6 November

  UK should ban fracking for good

  

  The UK government’s temporary fracking moratorium should turn into a permanent ban. Allowing shale gas extraction makes sense only when a country is still phasing out coal, and then only under certain conditions. But the UK is almost finished with coal, and fracking can only postpone its transition to clean energy. The Conservative government has banned the drilling of new ...

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• 6 November

  The Fed helped Trump win the 2016 election

  Donald Trump has renewed his quarrel with the Federal Reserve, tweeting again that the central bank is a bigger problem for the US economy than China. Whether or not it’s wise for the president to lash out in public, he’s right to be concerned. An excessively tight monetary policy from the Fed helped to get him elected, and could contribute ...

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• 6 November

  Asia’s big trade pact will hurt the global economy

  From a political perspective, India’s decision overnight to walk away from immediate involvement in a trade zone encompassing half the world’s population and a third of its economy is good for almost everyone. The government of Prime Minister Narendra Modi no longer needs to make difficult concessions on agricultural trade. Other members of the Regional Comprehensive Economic Partnership group (RCEP) ...

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