November, 2019

• 13 November

  Musk’s Tesla picks Germany for European gigafactory

  

  Bloomberg Elon Musk picked a glitzy event in Germany, a few hours’ drive from the birthplace of the internal combustion engine, to drop the news before some of the world’s biggest car bosses: Tesla Inc plans to set up shop in their backyard. The billionaire chief executive officer announced that Tesla will round out its global manufacturing network with a ...

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• 13 November

  India considers shifting dividend tax to investors from companies

  

  Bloomberg India is considering changes to its dividend distribution tax, according to people with knowledge of the matter, in a bid to goad companies to boost spending and revive foreign fund inflows. The budget statement due in February may include a proposal to tax dividends once they are paid to shareholders, rather than the current system where the company pays ...

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• 13 November

  Rising onion prices fuelling India inflation, not rates

  

  Bloomberg India’s headline inflation probably breached the central bank’s 4% medium-term threshold last month, but that surge — driven by high onion prices — is unlikely to distract monetary policy makers from their focus on growth. Economists pegged the gains in consumer prices at 4.35% in October, according to the median of 33 economists surveyed by Bloomberg. That would be ...

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• 13 November

  Nita Ambani appointed to US museum’s board

  

  Bloomberg Nita Ambani, philanthropist and wife of Asia’s richest person, was named to the board of the largest US art museum after years of supporting exhibitions at the New York City institution. Ambani’s backing “has had an enormous impact on the museum’s ability to study and display art from every corner of the world,” Daniel Brodsky, the Metropolitan Museum of ...

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• 13 November

  Musk’s China challenger to debut electric car next year

  

  Bloomberg China Evergrande Group, the property giant with ambitions to become the world’s biggest maker of electric vehicles, plans to unveil its debut car by June — a year later than first promised. The car, to be sold under the ‘Hengchi’ brand, will debut in the first half of next year, with mass production starting in 2021, the company said ...

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• 13 November

  Xpeng raises $400mn from Xiaomi, others

  

  Bloomberg Chinese electric-car maker Xpeng Motors Technology Ltd has raised $400 million from investors including technology company Xiaomi Corp, as it seeks a spot among China’s more serious contenders in the market. Private-equity firms and individual investors including founder He Xiaopeng also took part in the funding round, the company said in a statement. The startup said in June it ...

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• 13 November

  SoftBank telecom unit mulls first bond sale since listing

  Bloomberg The Japanese telecommunications business of billionaire Masayoshi Son’s conglomerate is planning to sell its first bond since listing, in a test of investor sentiment after recent stumbles by the broader group. SoftBank Corp is considering the sale of five-, seven- and 10-year notes in the current fiscal year ending March 31, with pricing likely to occur in the January-March ...

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• 13 November

  Singapore to become global leader in AI

  

  Bloomberg Singapore has unveiled an ambitious strategy to become a global leader in artificial intelligence by 2030, attempting to carve out a niche for itself in an increasingly politicized technology. Deputy Prime Minister Heng Swee Keat outlined five key areas the island nation is targeting for AI applications including in transport and logistics planning, provision of municipal services, detection and ...

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• 13 November

  Stocks drop, bonds climb as investors weigh trade

  

  Bloomberg US equity-index futures retreated with stocks in Europe and Asia on Wednesday as investors digested President Donald Trump’s latest comments on trade as well as ongoing unrest in Hong Kong. Treasuries led a bond rally. Contracts on all three main American gauges pointed to a drop at the open after the S&P 500 closed just shy of a record ...

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• 13 November

  Spain overtakes Britain as Europe’s worst stock market

  

  Bloomberg Just as Spanish stocks were starting to rally towards this year’s highs, a coalition with an anti-austerity political party is dampening the mood once more. The benchmark IBEX 35 Index is down 2.5% since the vote that left the ruling Socialists weaker, forcing them to seek a coalition with an erstwhile foe. Only last week, the measure rose to ...

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