September, 2019

• 18 September

  Seoul has most to lose amid surge in oil prices

  Bloomberg South Korea stocks, one of the worst-hit markets in the wake of US-China trade tensions, face another risk: the surge in crude oil prices. Nader Naeimi, head of dynamic markets at AMP Capital Investors, is selling Korean equities on concern rising geopolitical risks in the Middle East will raise oil prices, hurting the earnings of Korean firms. He’s turning ...

  Read More »
• 18 September

  GM’s cave-in on health signals trouble for industry seeking cuts

  

  Bloomberg If General Motors (GM) Co’s negotiations with the United Auto Workers (UAW) are any indication, Detroit’s automakers may not have a prayer in their effort to rein in rising healthcare costs. As GM was nearing the expiration of its labor contract with the union, the carmaker sought to have hourly workers pay 15 percent of their health-care costs, according ...

  Read More »
• 18 September

  Apple fights Irish units claim in EU court clash

  

  Bloomberg Apple Inc sought to rebut claims by the European Commission that Irish units at the centre of its fight to overturn a record $14.3 billion tax bill are nothing but phantoms. Judges weighing Apple’s legal challenge on day two of a hearing at the EU’s General Court homed in on the exact functioning of the Irish branches that allowed ...

  Read More »
• 18 September

  Danaher’s dental arm raises $589m in US IPO

  Bloomberg Envista Holdings Corp, a dental products maker, raised $589 million after pricing its US initial public offering within the marketed range. The dental business of medical and industrial equipment manufacturer Danaher Corp sold 26.8 million shares for $22 apiece, according to data compiled by Bloomberg. The shares were offered at $21 to $24 each, according to a regulatory filing. ...

  Read More »
• 18 September

  US-Japan deal may be announced this month, says Larry Kudlow

  

  Bloomberg The Trump administration is optimistic about concluding a trade deal with Japan, which may be formally announced this month, said White House economic adviser Larry Kudlow. President Donald Trump and Japanese PM Shinzo Abe are scheduled to hold a one-on-one meeting on September 25 during the UN General Assembly in New York, Kudlow said. “There just might be an ...

  Read More »
• 18 September

  Adobe sees slower sales growth for marketing products

  

  Bloomberg Adobe Inc gave a revenue forecast for the current period that fell short of Wall Street estimates, signalling slower sales growth for its newer marketing products. Revenue will be about $2.97 billion in the period ending in November, the San Jose, California-based company said in a statement. Analysts projected $3.02 billion, according to data compiled by Bloomberg. Chief Executive ...

  Read More »
• 18 September

  HK’s Lam won’t concede to more protest demands: Aide

  

  Bloomberg Hong Kong’s government doesn’t see any benefit in conceding to more demands from protesters and the increasingly violent demonstrations are unlikely to stop anytime soon, according to a top adviser to leader Carrie Lam. Radical demonstrators — some of whom have lobbed petrol bombs at police and vandalised subway stations in recent weeks — won’t give up their struggle ...

  Read More »
• 18 September

  Trump refuses to meet Rouhani at UN summit

  

  Bloomberg President Donald Trump said he doesn’t want to meet with Iranian President Hassan Rouhani at a summit next week in New York. “I’m not looking to meet him. I don’t think they’re ready yet. But they’ll be ready,” Trump told reporters aboard Air Force One. “At the right time, they’ll be ready. I never rule anything out, but I ...

  Read More »
• 18 September

  US president names new national security adviser

  Bloomberg President Donald Trump said he’ll appoint Robert O’Brien as his White House national security advisor, elevating the State Department’s top hostage envoy from relative obscurity to one of the most important jobs in US government. O’Brien had the backing of Secretary of State Michael Pompeo, whose central role shaping the administration’s foreign policy will be solidified by the appointment. ...

  Read More »
• 18 September

  EU’s Juncker says risk of a no-deal Brexit is now ‘palpable’

  

  Bloomberg European Commission President Jean-Claude Juncker said on Wednesday that the risk of a no-deal Brexit on October 31 is now “palpable,” sparking a drop in the pound. Juncker, speaking to the European Parliament in Strasbourg, France, after a meeting with UK Prime Minister Boris Johnson, said the main sticking point continued to be the so-called backstop to avoid a ...

  Read More »