September, 2019

• 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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• 23 September

  China internet plays adjust to a post-growth world

  A sharp rebound in Chinese internet stocks over the past six weeks would have you believe that companies just turned in another quarter of stellar growth. Instead, what they did was to deliver the spending pragmatism that shows management understands the new era that’s upon us. Revenue for a basket of Chinese companies – from Alibaba Group Holding Ltd. to ...

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• 23 September

  Standardised labelling may reduce food waste

  Many efforts to minimise climate change are far removed from people’s everyday lives. It’s the responsibility of unseen others to reduce power-plant emissions or regrow carbon-absorbing forests. But there is one significant way almost everyone can help, and that is by wasting less food. Americans in particular consume only about half as much of what’s in their refrigerators as they ...

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• 23 September

  Germany’s green new deal doesn’t do much for climate

  

  The German government’s 54 billion-euro ($60 billion) climate deal, approved after about 20 hours of overnight negotiations, is a typical product of the reluctant coalition run by Chancellor Angela Merkel: It achieves a balance of interests and little more. If German voters want a more ambitious plan, and there are indications that they do, they’ll have to wait until after ...

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• 23 September

  This UK firm doesn’t fear a hard Brexit

  

  As Britain appears to be careering towards a no-deal Brexit, Next Plc Chief Executive Simon Wolfson is trying to reassure investors that the company should come out largely unscathed. That sounds overly optimistic, but Next has less to fear than most retailers. Wolfson, a Conservative Party peer and well-known Brexit supporter, says that as long as Britain’s ports operate effectively, ...

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• 23 September

  Goldman shows bright future for banks, if not for bankers

  

  The continuing debate about the future of banking since the 2008 financial crisis has intensified recently on reports that banks are cutting jobs and slashing pay. While the outlook for bankers is precarious, the same can’t be said for the banks. Goldman Sachs Group Inc. has featured prominently in the chatter about cutbacks, and not just because of its pre-eminence ...

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• 23 September

  Gloomy European data hits stocks as bonds advance

  

  Bloomberg US equity futures fluctuated and European stocks retreated as disappointing data in the euro area overshadowed easing concern about trade relations between America and China. Treasuries rose and the common currency slid. Manufacturing and services numbers for the euro zone came in far short of estimates on Monday, with disappointing readings from countries including Germany and France. The Stoxx ...

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