October, 2019

• 8 October

  Amazon, Google face tax test as Indonesia reins in e-comm

  

  Bloomberg Traditional members of Indonesia’s Baduy tribe shun footwear and live in woven bamboo houses without electricity, harvesting honey from natural beehives and weaving intricate traditional fabrics by hand. Some younger members then sell the stuff on Instagram. “My wife weaves the fabric, while the honey bottles are supplied by friends,” said Danif, 27, who goes outside the tribal area ...

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• 8 October

  Nissan names Makoto Uchida as new CEO

  

  Bloomberg Nissan Motor Co named the head of its China joint venture as chief executive officer, as the struggling Japanese carmaker seeks to heal deep divisions caused by the arrest of its former chairman and repair fraught relations with partner Renault SA. Makoto Uchida, 53, will work alongside Ashwani Gupta from affiliate Mitsubishi Motors Corp, who was named chief operating ...

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• 8 October

  Oil falls on US-China tensions

  

  Bloomberg Oil fell again, erasing earlier gains, as economic tensions between the US and China flared ahead of talks aimed at resolving their long-running trade feud. Futures in New York slipped as much as 1.7% following news that the White House is considering plans to potentially limit capital flows into China, while Beijing signaled it would retaliate after the Trump ...

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• 8 October

  PG&E warns of huge power shutoff in Calif

  Bloomberg Bankrupt utility owner PG&E Corp. issued an unprecedented warning that it may cut power in almost 30 California counties to avoid wildfires as hot, arid winds leave region dry as a tinderbox. The move may affect more than 600,000 customers across Northern and Central California, including Santa Clara, San Mateo, Napa and Alameda counties, according to a statement on ...

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• 8 October

  ‘Cuts to no-deal Brexit tariffs don’t go far’

  

  Bloomberg Road hauliers said the UK government’s decision to reduce the tariffs it plans to impose on imported trucks following a no-deal Brexit doesn’t go far enough. On Tuesday, the Department for International Trade said it will impose a 10% levy on imported heavy goods vehicles instead of the 22% it had initially planned. The announcement came as part of ...

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• 8 October

  Factories feed unexpected rise in industrial output in Germany

  

  Bloomberg A jump in manufacturing fuelled a surprise improvement in German industrial production following two months of decline. While good news, the development will do little to alleviate concerns about intensifying trade tensions and waning business confidence. Output rose 0.3% from July, despite a big drop in energy, compared with economist estimates for no change. Investment and basic goods production ...

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• 8 October

  Vestager asks EU states for details of tax deals

  

  Bloomberg The European Union’s (EU) antitrust chief Margrethe Vestager says she’s asked European governments for information on tax rulings, pledging to continue a crackdown on potentially unfair corporate tax deals. Governments will have to update their status on how they use tax rulings, following up on a similar sweep in 2014 where the EU gathered information on how many corporate ...

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• 8 October

  Coffee prices in London tumble to lowest since 2010

  

  Bloomberg The coffee market is looking increasingly bleak. While robusta futures rose on Tuesday, the gain followed the biggest daily slump in four months that sent prices to the lowest since 2010. The beans, favoured for instant drinks, have been pressured by a glut of coffee and money managers have never been so bearish. As well as a global surplus, ...

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• 8 October

  Trump’s confounding Syria moves spur policy confusion

  

  Bloomberg Donald Trump’s surprise announcement that US forces would stand aside if Turkey invades Syria sowed chaos in his administration, drew criticism from his allies in Congress and left Kurdish fighters feeling betrayed. Yet after a day of confusion, it wasn’t clear how much American policy had really changed. It was, in short, another example of how foreign policy gets ...

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• 8 October

  Trump team bars his EU envoy from deposition

  

  Bloomberg Gordon Sondland, the US ambassador to the European Union, on Tuesday cancelled his scheduled testimony before House impeachment investigators looking into President Donald Trump’s activities involving Ukraine. The State Department directed Sondland to cancel his scheduled testimony on Tuesday, according to a letter from his attorney. Robert Luskin, the lawyer representing Sondland, said his client was ready to appear ...

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