May, 2019

• 12 May

  China Mobile asks US to stop ‘unreasonable pressure’

  

  Bloomberg A unit of China Mobile Ltd said the US government should stop putting “unreasonable pressure” on Chinese companies and provide them with a non-discriminatory investment environment, pushing back after its bid to provide phone service in the US was denied. China Mobile International said the Federal Communications Commission’s (FCC) rejection after almost eight years of applications was “without apparent ...

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• 12 May

  India’s Mukesh Ambani buys Hamleys

  

  Bloomberg Mukesh Ambani, Asia’s richest man, sealed another deal to expand his retail footprint and add heft in a battle with Amazon.com Inc and Walmart Inc in India. Reliance Brands Ltd agreed to purchase the 259-year-old British toy-store chain Hamleys from CBanner Interna tional Holdings Ltd for almost 68 million pounds ($88.5 million) in cash. The transaction would transform the ...

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• 12 May

  China’s top security regulator seeks to ease volatility concerns

  

  Bloomberg China’s top security regulator sought to ease concerns about burgeoning stock-market volatility, after the wild price swings capped the worst three-week rout for mainland equities in more than a year. The recent gyrations were due to “external factors,” but these are not the dominant elements in China’s stock-market development, said Yi Huiman, chairman of China Securities Regulatory Commission, in ...

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• 12 May

  Aussie PM vows to cut first-home owner deposit to 5%

  Bloomberg Australian Prime Minister Scott Morrison committed as much as $350 million to cut costs for first-home buyers, seeking to boost his chances of re-election with his government trailing in opinion polls before an election. The government would offer guarantees to cut the required deposit for first-home buyers to 5 percent of the purchase price, instead of 20 percent, Morrison ...

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• 12 May

  Ghosn’s successor under siege as Nissan profit sinks

  

  Bloomberg Carlos Ghosn’s arrest threw Nissan Motor Co into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the automaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them. Troubled by slumping US sales, aging models and a product cycle that’s out of sync, the Yokohama-based company is on ...

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• 12 May

  Thyssenkrupp plans elevator business IPO, abandons split

  

  Bloomberg Thyssenkrupp AG announced a dramatic U-turn in corporate strategy, saying it will take its elevator business public and abandon a plan to split in two. The shares surged the most on record after Chief Executive Officer Guido Kerkhoff said that the new proposal could also lead to the elimination of as many as 6,000 jobs. Kerkhoff’s reversal comes just ...

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• 12 May

  Canada sees record job gains in April as economy heats up

  

  Bloomberg Canada’s economy posted record job gains in April, along with a pick-up in wages, in the strongest sign yet the nation’s economy has emerged from a soft patch. Employment rose by 106,500 in April, Statistics Canada said in Ottawa, the biggest one-month increase in data going back to 1976. Economists had forecast employers would add about 12,000 positions. The ...

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• 12 May

  Deutsche Telekom profit up on US subscriber rise

  

  Bloomberg Deutsche Telekom AG posted higher operating profit in the first quarter, propelled by forecast-beating US growth that’s making up for slower momentum back home in Germany, where Europe’s biggest phone company faces emerging competitive threats. Adjusted earnings before interest, tax, depreciation and amortisation after leases grew 8.3% to 5.94 billion euros ($6.65 billion). The figure, which eliminates accounting changes ...

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• 12 May

  BT reassures on dividend as CEO Jansen seeks to accelerate fibre network rollout

  

  Bloomberg BT Group Plc’s new boss Philip Jansen kept the phone company’s dividend in the face of declining profits while committing to the turnaround begun by his predecessor. Jansen said earnings would fall this year and BT needed to be “more competitive” as he laid out plans to accelerate a fibre network rollout. The dividend pledge was a relief for ...

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• 12 May

  1980s traders skeptical of Trump farm aid

  

  Bloomberg Traders who lived through the 1980s US farm crisis have a good reason to be skeptical of President Donald Trump’s new plan to help growers. That’s because they question whether the US would really be able to ship all of the $15 billion in potential federal farm-good purchases as humanitarian aid to poor countries. Instead, they suspect the government ...

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