August, 2019

• 26 August

  $94bn fund plans to cut Australia carbon footprint by 10%

  

  Bloomberg One of Australia’s biggest infrastructure investors has pledged to cut carbon emissions across its portfolio of airports, toll roads and electricity assets in the nation by about 10%, as the pensions industry steps up its commitment to tackling climate change. IFM Investors Pty., which manages A$140 billion ($94 billion), will cut 200,000 tons of annual carbon emissions from its ...

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• 26 August

  Chinese startup Pony.ai strikes deal with Toyota

  

  Bloomberg Chinese autonomous-driving company Pony.ai struck a partnership with Toyota Motor Corp., a boon for the startup seeking to take on US rivals such as Alphabet Inc.’s Waymo. Pony.ai and Toyota are teaming up on a pilot project as they attempt to accelerate the development and deployment of self-driving vehicles, according to a statement from Pony.ai on Monday. The companies ...

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• 26 August

  Tesla to raise its prices in China

  Bloomberg Tesla Inc. will raise vehicle prices in China this week, two people familiar with the matter said, a reaction to the trade war that weighs on the country’s currency and threatens to once again lead to higher import tariffs. Price hikes that were originally planned for September will now take place this Friday, a sales representative and another Tesla ...

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• 26 August

  India’s new measures to spur economic growth falling short

  

  Bloomberg India’s steps to boost financial market sentiment and support businesses could fall short of shoring up growth in Asia’s third-largest economy. Finance Minister Nirmala Sitharaman announced a number of measures last week to help re-ignite an economy that’s slowed sharply on the back of weak consumption and a deteriorating global environment. However, she didn’t outline any major fiscal support ...

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• 26 August

  Singapore mulls bonds, reserves for $72bn climate fight

  

  Bloomberg Singapore is weighing options including the issuance of government bonds to fund the S$100 billion ($72 billion) it could take to fight rising sea levels over the next century. In the short-term, funding for projects such as a S$400 million upgrade to the city-state’s drainage systems to boost flood resilience will come from ministry-level expenditures, Minister for the Environment ...

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• 26 August

  New US LNG export plans threatened amid trade war

  

  Bloomberg Liquefied natural gas (LNG) may have dodged the latest round of Chinese tariffs on US goods, but plans for new American terminals to ship the fuel abroad are under threat as trade war escalates. Tellurian Inc. and other developers will probably delay final investment decisions on multibillion-dollar US LNG export projects to 2020 from this year as the tensions ...

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• 26 August

  India extends deadline for solar projects again

  

  Bloomberg India has extended a deadline to submit bids for building solar power equipment factories in the South Asian nation, in another delay to its efforts to boost its nascent domestic manufacturing capacity. The new deadline to submit bids for the tender is September 11 , Solar Energy Corp. of India said on its website Monday. The tender seeks to ...

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• 26 August

  Shell appeals tax decision over Australian gas stake

  

  Bloomberg Royal Dutch Shell Plc is appealing a decision by the Australian Taxation Office that has left the company with a bill estimated at A$755 million ($510 million), the Guardian reported. The ATO has been battling with Shell’s local subsidiary for six years regarding tax treatment of its stake in the Browse gas project off the country’s northwest coast, the ...

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• 26 August

  Trump says US, China getting close to ‘fair deal for everyone’

  

  Bloomberg US President Donald Trump said trade talks with China are back on after Beijing requested negotiations, easing immediate tensions after a weekend of tit-for-tat tariffs rocked financial markets and fuelled fears that the standoff would drag the global economy into recession. Speaking at the Group of 7 meetings in Biarritz, France, Trump said US officials received two “very productive” ...

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• 26 August

  German business morale worsens as recession risks rise

  

  Bloomberg German business confidence extended its decline, falling to the weakest level in almost seven years, as a deepening manufacturing slump put Europe’s largest economy on the brink of recession. Germany’s export-centered economy is struggling as global trade tensions worsen. GDP contracted in the second quarter and the Bundesbank predicts it could shrink again in the third, and the US-China ...

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