May, 2019

• 26 May

  China calls ban on Huawei rough disruption to market

  Bloomberg China called the US export ban on Huawei Technologies Co a rough disruption to the chip-making market and vowed to further open its industrial sector for foreign investment. “The US has roughly interfered in the integrated circuit sector’s global market order with a groundless accusation,” Wang Zhijun, vice head of the Ministry of Industry and Information Technology, said in ...

  Read More »
• 26 May

  Japan’s new bullet train hits record in its test run

  

  Bloomberg A new model of bullet train set to enter service ahead of the Tokyo Olympics hit a record speed of 360 kilometres (224 miles) per hour in a test run, operator JR Central said. The N700s — the suffix stands for ‘supreme’ — is the first new model of bullet train on Japan’s busiest line for almost a decade. ...

  Read More »
• 26 May

  China regulator downplays ‘trade war’

  

  Bloomberg The US escalation of trade tensions won’t solve any of its problems but will create volatility in global markets and hurt the world economy, according to China’s top financial regulator. Higher US tariffs will have a “very limited” impact on China’s economy even if it raises levies to the maximum level, and would hurt the US about as much, ...

  Read More »
• 26 May

  Ambani’s group to sell mutual fund to Nippon Life

  Bloomberg India’s debt-ridden Anil Ambani group will exit the asset management business by selling shares in its joint venture to Japanese partner Nippon Life Insurance Co, which will take a controlling stake in India’s fifth-biggest mutual fund. Ambani’s Reliance Capital Ltd signed a binding definitive agreement to sell 32.12 percent of Reliance Nippon Life Asset Management Ltd for $649 million ...

  Read More »
• 26 May

  Indonesia ends four-day curbs on social media after riots

  

  Bloomberg Indonesia is ending its four-day curbs on social media after deadly riots that left seven dead and hundreds injured. Video and picture-sharing functions returned to normal on various social media and messaging system platforms, according to Communications Minister Rudiantara. The government froze the functions last week, citing security concerns after riots rocked the capital Jakarta the night before. This ...

  Read More »
• 26 May

  US seeks to avoid planting distortions with new farm aid

  

  Bloomberg The Trump Administration unveiled its latest package to help farmers survive a trade war with China, adopting a model that aims to avoid influencing production decisions. The corn futures fell. The program includes $14.5 billion in direct payments to producers. Aid for most crops will be calculated based on what is grown in each county rather than just individual ...

  Read More »
• 26 May

  HP Enterprise raises profit forecast on cost cutting measures

  

  Bloomberg Hewlett Packard Enterprise Co, a maker of server computers, raised its profit forecast for the year on greater cost-cutting measures, topping most analysts’ estimates. Executives said, however, that trade tension between the US and China has created greater uncertainty. Profit, excluding some items, will be $1.62 a share to $1.72 a share in fiscal 2019, an increase of 6 ...

  Read More »
• 26 May

  Samarco postpones talks for $3.8b debt

  

  Bloomberg Samarco Mineracao SA, the Brazilian mining venture that hasn’t operated since a deadly dam collapse in 2015, is postponing restructuring talks for $3.8 billion of debt until at least November, according to three people with knowledge of the plan. Creditors of the company’s $2.2 billion in defaulted bonds and $1.6 billion in loans and other obligations are agreeing to ...

  Read More »
• 26 May

  US factory activity drops to 9-year low amid trade woes

  

  Bloomberg US factory activity took a hit this month as the tariff war with China and an overhang of inventory dampened orders, adding to signs the economy could slow in the second quarter. The preliminary US manufacturing purchasing managers’ index from IHS Markit fell two points to 50.6, the lowest reading since 2009, according to data. The drop was led ...

  Read More »
• 26 May

  Facebook removes a record 2.2 billion fake accounts in Q1

  

  Bloomberg Facebook Inc. said it removed 2.2 billion fake accounts in the first quarter, a record that shows how the company is battling an avalanche of bad actors trying to undermine the authenticity of the world’s largest social network. In the final quarter of 2018, Facebook disabled just more than 1 billion fake accounts and 583 million in the first ...

  Read More »