September, 2019

• 25 September

  Cows eat into sugar output in Indian state

  

  Bloomberg Sugar output in India’s second-biggest producing region will be lower than expected after floods damaged crops and as some farmers sell cane for feed. Production in the western state of Maharashtra may total 5.2 million to 5.3 million tons in the year starting from October 1, compared with a previous estimate of 6.44 million tons, said Shekhar Gaikwad, the ...

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• 25 September

  China leads FDI recovery in Uganda

  Bloomberg China was the leading source of planned foreign direct investment in the year ended-June, leading a recovery in the value of project approvals in Uganda. Chinese companies accounted for $607.3 million, or 45 percent, of the total planned investment projects cleared in the past financial year, the Uganda Investment Authority acting Director-General Lawrence Byensi said in an emailed statement. ...

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• 25 September

  Ford to put struggling India business into JV with Mahindra

  

  Bloomberg Ford Motor Co is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said. Mahindra, one of India’s largest automakers, will own 51 percent of the new ...

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• 25 September

  China tourists head back to Thailand

  

  Bloomberg The number of Chinese tourists visiting Thailand topped 1 million in August for the first time in six months, brightening an otherwise dim outlook for the nation’s economy. Chinese arrivals surged almost 19 percent to 1.03 million during the month compared with a year earlier, Tourism Ministry data showed. Overall visitor growth of 7.4 percent was the strongest this ...

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• 25 September

  Facebook defies antitrust warnings with ‘startup deal’

  

  Bloomberg Facebook Inc sent a clear signal with its agreement to buy a brain computing startup: heightened regulatory scrutiny and intensifying antitrust probes won’t slow down its pace of acquisitions. With its announcement of plans to purchase CTRL-Labs for at least $500 million, Facebook continued its pattern of snapping up promising startups in new markets, the very behaviour that the ...

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• 25 September

  Aston Martin raises $150m to help fund SUV launch

  

  Bloomberg Aston Martin Lagonda Global Holdings Plc raised $150 million in a steeply priced bond sale, responding to liquidity concerns as the luxury carmaker bets that a future SUV model will boost cash flow. The debt issue comes with a 12 percent coupon, double the cost of Aston Martin’s existing bonds. A further $100 million of notes could be available ...

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• 25 September

  Fiat merger ‘behind us’: Renault chairman

  

  Bloomberg Renault SA Chairman Jean-Dominique Senard said he would back a tie up with Fiat Chrysler Automobiles NV should another opportunity arise to get a deal. If the project with Fiat “were to come back under conditions that are acceptable for all, I would be delighted,” Senard told French senators at a hearing in Paris, adding that there’s nothing currently ...

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• 25 September

  Bain, Advent prepare new bid for German light-maker

  Bloomberg Bain Capital and Advent International are preparing a fresh bid for German lighting maker Osram Licht AG, ratcheting up a bidding war with Austrian sensor maker AMS AG, according to people with knowledge of the matter. The two buyout firms planneed to announce their intention to submit a new proposal as soon as Wednesday, with a formal bid coming ...

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• 25 September

  Google contractors vote to join United Steelworkers’ union

  

  Bloomberg Contract workers for Google in Pittsburgh voted to join the United Steelworkers, according to the union. The result was 49 votes for and 24 against, said Maria Somma, the organising director for the union. This is one of the first victories for organised labour since waves of employee activism began consuming the technology giant last year. The union hopes ...

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• 25 September

  The odd couple: Donald Trump and Jay Powell

  

  If ever there was a case of political miscalculation, it’s the collapsing relationship between President Trump and the chairman of the Federal Reserve Board, Jerome (‘Jay’) Powell. Trump seems to have believed that he could easily manipulate Powell into embracing an aggressively easy monetary policy whose main objective was Trump’s re-election. For his part, Powell seems to have believed that, ...

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