May, 2019

• 14 May

  SoftBank slump reaches $16b as ride-hailing luster dims

  

  Bloomberg In the months leading up to Uber Technologies Inc’s market debut, Masayoshi Son made a habit of pointing out that SoftBank Group Corp is the world’s largest investor in ride-hailing companies. Suddenly, it doesn’t seem like such an enviable position. SoftBank has lost about $16 billion in market value in the past three trading days as Uber plunged nearly ...

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• 14 May

  Takeda forecasts operating loss

  Bloomberg Takeda Pharmaceutical Co forecast a surprise operating loss for the year due to acquisition costs and related charges from its $62 billion purchase of Shire Plc, but the Japanese drugmaker said the deal will result in bigger-than-projected cost savings. The company raised its annual cost savings target to $2 billion from $1.4 billion by the end of fiscal 2021, ...

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• 14 May

  India’s worst car sales data in years adds to slowdown pain

  Bloomberg Sales of cars and SUVs in India slumped the most since October 2011, adding to a slew of bad news that points to a slowdown in the world’s fastest-growing major economy. Passenger vehicle sales in April fell 17.1 percent to 247,541 units from a year earlier, data released by the Society of Indian Automobile Manufacturers (SIAM) showed. Car sales ...

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• 14 May

  Ships steam to China with US cargoes as tensions escalate

  

  Bloomberg As the US-China trade war escalates, speculation is swirling over whether the Asian nation will honour purchases of American products including soybeans and cotton that are yet to be delivered. At least 10 bulk carrier cargoes are in transit, while at least one vessel managed to offload its US cargo on the weekend as tensions between Washington and Beijing ...

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• 14 May

  Allianz’s managed assets hit record as clients add $20bn

  

  Bloomberg Allianz SE’s giant investment business saw managed assets grow to a record as clients added 18 billion euros ($20 billion) in the first quarter, reversing outflows at the end of last year. The new money lifted the amount the company oversees for outside clients to 1.55 trillion euros, Munich-based Allianz said on Tuesday. The insurer owns US bond giant ...

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• 14 May

  EU set for retaliatory tariffs as deadline on Trump car levies nears

  

  Bloomberg The European Union is finalising a list of American goods to target with retaliatory tariffs in the event that US President Donald Trump, who is expected to make a decision by May 18, imposes levies on car imports. “We are already preparing a list of possible items that would be on that list,” EU trade chief Cecilia Malmstrom said ...

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• 14 May

  Vodafone cuts dividend amid falling revenue

  

  Bloomberg Vodafone Group Plc’s dividend has cracked under the strain of falling revenue, soaring spectrum costs and a $21 billion acquisition, in a grim reality check for Europe’s struggling phone industry. The region’s biggest telecom carrier slashed its full-year dividend by 40% to 9 euro cents per share, reversing Chief Executive Officer Nick Read’s goal to keep the payout unchanged. ...

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• 14 May

  Dutch economy up 0.5% in Q1, topping forecast

  

  Bloomberg Economic growth in the Netherlands came in better than economists forecast in the first quarter, adding to the run of recent good numbers from the euro area. The first-quarter performance saw the region’s fifth largest economy grow 0.5% compared with the previous three months. That was just ahead of the 0.4% median forecast of economists. Expansion in the 19-nation ...

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• 14 May

  Apple must face iPhone app antitrust suit, top court rules

  

  Bloomberg Consumers can press ahead with a lawsuit that accuses Apple Inc. of using its market dominance to artificially inflate prices at its App Store, the US Supreme Court ruled. The 5-4 decision could add to pressure the company faces to cut the 30% commission it charges on app sales. Lawyers pressing the case have said they will seek hundreds ...

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• 14 May

  Philippines polls: Duterte allies pummel ‘divided’ opposition

  

  Bloomberg Allies of President Rodrigo Duterte are set to dominate the Philippine senate after a midterm election marred by technical glitches including a stalled vote count. Nine of Duterte’s favoured politicians are among leading senatorial candidates, based on ABS-CBN data with 93.6 percent of the votes reporting. The likely winners of the 12 Senate seats include his former aide Bong ...

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