September, 2019

• 23 September

  Impossible Foods’ product joins rival Beyond Meat in supermarkets

  

  Bloomberg Impossible Foods Inc started to finally offer its eponymous plant-based burger in US grocery aisles. The Impossible Burger will make its retail debut at 27 Gelson’s Markets locations in Southern California before expanding its retail presence in the fourth quarter and in early 2020, the company said in a statement. The product will arrive in additional unnamed stores, including ...

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• 23 September

  JC Penney preps for talks with creditors

  

  Bloomberg JC Penney Co is preparing for talks with its creditors on possible transactions to ease its debt burden and give the company’s new chief executive more breathing room ahead of the critical holiday season. Advisers for the department-store chain and some of its bondholders are close to signing non-disclosure agreements, and expect to do so by the end of ...

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• 23 September

  FAA aims for detente at summit on Boeing 737 Max’s future

  

  Bloomberg With a crucial summit for the Boeing Co 737 Max looming this week, regulators are downplaying the threat of a rupture to a decades-old working relationship between US and European aviation authorities. On the eve of a gathering of about 50 airworthiness experts in Montreal, the top European regulator, Patrick Ky, suggested that the Max could return to the ...

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• 23 September

  ‘HK 2019 exports worst in a decade’

  Bloomberg Hong Kong’s economic situation continues to darken, with the city’s trade body now expecting exports to shrink this year to the worst levels in a decade amid the ongoing US-China trade war and slowing global economy. The Hong Kong Trade Development Council slashed its 2019 growth forecast to a 4 percent contraction, a further reduction from prior expectations of ...

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• 23 September

  Beijing imports 590,000 tons of palm oil this year

  

  Bloomberg China imported the most palm oil in more than 6 years last month after the outbreak of African swine fever hurt domestic soybean crushing and the country cut soy imports from the US as their trade conflict escalated. China bought 590,000 tons of palm oil in August, almost double last year’s amount and the highest monthly total since December ...

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• 23 September

  China boosts govt presence at Alibaba, private giants

  

  Bloomberg The government of one of China’s top technology hubs is dispatching officials to 100 local corporations including e-commerce giant Alibaba Group Holding Ltd, the latest effort to exert greater influence over the country’s massive private sector. Hangzhou, in the eastern province of Zhejiang, is assigning government affairs representatives to facilitate communication and expedite projects, the city government said on ...

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• 23 September

  After $5b in losses, China’s Tesla wannabe fights for survival

  

  Bloomberg It took Tesla Inc about 15 years to rack up $5 billion in losses. The company known as China’s Tesla did it in four. The bleeding continues. Shanghai-based NIO Inc is poised to report that it lost another 2.6 billion yuan ($369 million) — around $4 million a day — during the second quarter, according to the average of ...

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• 23 September

  Hyundai to set up $4b JV for driverless cars

  

  Bloomberg Hyundai Motor Group will spend $1.6 billion to develop autonomous vehicles with Aptiv Plc, marking one of the biggest investments yet by a traditional carmaker into the burgeoning robocar industry. Aptiv will take a 50 percent stake in the venture, while Hyundai Motor, Hyundai Mobis Co and Kia Motors Corp will contribute a combined $1.6 billion in cash and ...

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• 23 September

  High-yield energy bonds are falling back to earth

  

  Not all high-yield bonds are on a hot streak. On its face, the US junk-bond market appears as if it can do no wrong. The average yield on the Bloomberg Barclays US Corporate High Yield Index dropped to a 20-month low of 5.58% on September 18. Investors poured $3.3 billion into junk-debt funds this week, the most since February. Overall, ...

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• 23 September

  Fed interest rate cuts look less likely

  

  The Federal Reserve has now lowered its target interest rate for overnight loans between banks twice since the end of July. The central bank’s economic projections and Chairman Jerome Powell’s post-meeting news conference suggest policy makers aren’t quite ready to cut rates a third time, and will need to see either weaker economic data or an intensification of the US-China ...

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