October, 2019

• 7 October

  China’s coal power giants fail to respond to climate change

  

  Bloomberg China’s top six listed coal-power generators are failing to respond to climate change, lagging international peers and leaving them misaligned with Beijing’s broader environmental policies, according to a sustainability and governance risk consultant. That’s keeping shareholders without adequate information on how the firms are addressing climate change or adjusting their businesses to adapt, Singapore-based Asia Research & Engagement said ...

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• 7 October

  Eskom’s $4bn-coal bill headache largely of its own making

  

  Bloomberg South Africa wants coal producers to help debt-stricken state power utility Eskom Holdings SOC Ltd. tackle its skyrocketing costs of the fuel — a problem that’s largely of its own making. Eskom traditionally signed so-called “cost-plus” contracts for coal with mining companies that managed and operated shafts the utility helped finance. In 2015 then-Chief Executive Officer Brian Molefe criticized ...

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• 7 October

  CNPC quits flagship Iran gas project as US sanctions bite

  

  Bloomberg China National Petroleum Corp. (CNPC) is no longer a partner in Iran’s biggest natural gas project, and the Persian Gulf nation will develop Phase 11 of the giant South Pars field on its own, Oil Minister Bijan Namdar Zanganeh said. CNPC was the only international partner left in the project, after Total SA of France withdrew last year when ...

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• 7 October

  Trump’s ‘irresponsible’ Syria move will aid IS: Graham

  

  Bloomberg President Donald Trump’s decision to step aside from Kurdish allies in Syria while Turkey’s military advances drew a stark rebuke on Monday from one of his staunchest Republican backers. “This is going to lead to the reemergence of IS, and the biggest winner of all this will be the Iranians, and that’s too bad,” Senator Lindsey Graham told Fox ...

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• 7 October

  Rwanda rebels kill 14 in tourist region

  

  Bloomberg Rwandan rebels staged a rare attack in the northern mountainous region known for gorilla trekking, killing at least 14 people, the National Police said. Authorities killed 19 attackers and arrested five, who the police said are members of Forces for the Liberation of Rwanda (FDLR), a rebel group based in the neighbouring Democratic Republic of Congo. All visitors to ...

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• 7 October

  Sanchez eyes moderate vote in fractured Spain politics

  Bloomberg Acting PM Pedro Sanchez painted himself as the voice of moderation in Spanish politics as the country braces for an election campaign in the shadow of forthcoming verdicts in a trial of Catalan separatists and international disputes over trade and Brexit. “I humbly ask people to think who can guide our country with moderation towards progress,” Sanchez said in ...

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• 7 October

  Tunisia poll shows split parliament

  

  Bloomberg Tunisia counted votes from the parliamentary elections, as an exit poll suggested a moderate radical party will get the most ballots while falling short of the majority needed to form a government. Polling by local firm Sigma Conseil showed Ennahda winning with 17.5% of votes, with Heart of Tunisia — the party of jailed TV mogul Nabil Karoui — ...

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• 7 October

  Kosovo ‘election winner’ hints tough Serbia stance

  Bloomberg The winner of Kosovo’s snap election struck a defiant tone towards Serbia, foreshadowing more of the acrimony that has kept the two neighbours from clearing a key hurdle on their path to membership in the European Union. Albin Kurti, whose Self-Determination Movement won, said that in talks with Belgrade his new government would focus on a historic “debt that ...

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• 7 October

  Brexit prospects fade as talks stall, EU signals pessimism

  

  Bloomberg Prospects of a Brexit deal faded after talks between the two sides stalled and European leaders cast doubt on reaching an agreement in time for the October 31 deadline. French President Emmanuel Macron and Irish Prime Minister Leo Varadkar both signalled they want progress by Friday, adding to a sense that time is running out for the two sides ...

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• 7 October

  HSBC to cut up to 10,000 jobs in cost-cutting drive, says FT

  

  Bloomberg HSBC Holdings Plc may eliminate as many as 10,000 jobs as part of a cost-cutting drive, according to a Financial Times report that signalled Europe may bear the brunt of the initiative. The plan would result in a substantial reduction in HSBC’s workforce of about 238,000, the FT said, citing two people briefed on the matter. The bank, one ...

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