October, 2019

• 16 October

  Blackstone, KKR join race for India’s Emami Cement

  

  Bloomberg Blackstone Group Inc and a rival consortium led by KKR & Co are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, according to people with knowledge of the matter. TPG Capital is also weighing a bid for Emami Cement Ltd and could look for a local partner, said one of the people, who ...

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• 16 October

  China’s Huawei eyes No. 2 wireless market as India sits on 5G fence

  

  Bloomberg Huawei Technologies Co, the wireless network giant blocked from selling its equipment in the US and some other markets, is betting it can find customers for its 5G gear in India, where the government has yet to weigh in on US calls for a boycott against the Chinese company. The world’s largest maker of components for 5G networks said ...

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• 16 October

  SoftBank taps Houlihan for WeWork

  Bloomberg SoftBank Group Corp has tapped investment bankers at Houlihan Lokey to explore options for easing WeWork’s cash crunch, according to people with knowledge of the discussions. Houlihan is working on cutting liabilities as WeWork mulls a separate deal that could hand control of the struggling office-sharing company to SoftBank, its biggest shareholder, according to the people. Other measures for ...

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• 16 October

  Kashmir crisis triggers battle over palm oil

  

  Bloomberg India, the world’s top palm oil consumer, is shunning purchases from Malaysia, the No 2. producer, after the southeast Asian nation’s prime minister criticised its policy in Kashmir, sparking the latest trade spat in the region. Malaysian Prime Minister Mahathir Mohamad last month told the United Nations that India “invaded and occupied” Kashmir. Since then, many Indian buyers of ...

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• 16 October

  GM, UAW hammer out details as signs show agreement near

  

  Bloomberg Labour talks between General Motors (GM) Co and United Auto Workers (UAW) leaders are pushing into Wednesday, inching toward a tentative agreement that could end a strike now in its fifth week. Negotiators are showing signs of progress: GM Chief Executive Officer Mary Barra made a personal appearance at the main bargaining table, and UAW bosses have summoned their ...

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• 16 October

  Businesses aren’t ready for no-deal Brexit: UK watchdog

  

  Bloomberg The UK will introduce mandatory checks on trucks to ensure they’re ready to cross the border in the event of a no-deal Brexit as a majority of businesses remain unprepared, the public spending watchdog said. The border will be “less than optimal” under a no-deal exit, meaning delays for businesses and the public, the National Audit Office (NAO) said ...

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• 16 October

  EU’s Vestager defends her dual role as antitrust and tech chief

  

  Bloomberg Margrethe Vestager, the European Union’s incoming technology chief, defended her dual role as a rulemaker and enforcer of antitrust law, saying her investigations face intense scrutiny and can aid new regulation. Vestager faced some criticism from the European Parliament’s biggest party, which argued that it’s not possible to “strengthen antitrust efforts and fine tech giants and, at the same ...

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• 16 October

  Surging SUV demand is spooking German workers building sedans

  

  Bloomberg Germany’s car industry built its world-class reputation on sedans like the Audi A4, the BMW 5-Series and the Volkswagen Passat, reliable models that look good in the family driveway or company lot. But a shift in consumer taste to more hulking vehicles is coming at the worst possible time. Demand for sport utility vehicles that initially took hold in ...

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• 16 October

  Trump opened door for an IS resurgence in Syria

  

  By acquiescing to Turkey’s invasion of northeastern Syria, President Trump has opened the door to what could become a genuine nightmare for the United States and its allies: the revival of the deadly terrorist organisation that called itself the IS. The danger lies not simply in the group’s sleeper cells that are still active — and that detonated three suicide ...

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• 16 October

  A test of Walmart’s momentum

  

  And now for a major test of the well-oiled retailing machine that is Walmart Inc. The big-box giant announced that Greg Foran, the CEO of its US division — which makes up the bulk of its sales and operating income — is leaving to become CEO at Air New Zealand Ltd. He will be replaced by John Furner, who has ...

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