May, 2019

• 8 May

  Toyota, Honda latest carmakers to warn of weaker profits

  

  Bloomberg Toyota Motor Corp and Honda Motor Co forecast profit and sales short of analysts’ estimates as a trade spat between the US and China threatens global car sales already sputtering from weaker demand. Both reported results that underscore the challenges faced by automakers across the globe, from having to invest in electrification and self-driving cars, to struggles with tariffs ...

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• 8 May

  Tata Steel flags risks if trade deal ‘doesn’t get sorted out’

  

  Bloomberg One of the world’s top steelmakers is tracking this week’s high-stakes trade talks in Washington, forecasting that a failure by the US and China to make progress to end their prolonged stand-off risks undercutting steel demand as mainland manufacturing would likely take a hit. “If it doesn’t get sorted out by the day after tomorrow, then we can see ...

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• 8 May

  India’s Shanghvi to keep Suzlon stake

  Bloomberg Indian billionaire Dilip Shanghvi intends to stay invested in unprofitable wind-turbine maker Suzlon Energy Ltd even though the company’s financial health has worsened over the last few years. “If I look at outcome then clearly that investment hasn’t had a great outcome,” Shanghvi said in an interview in Mumbai, adding that Suzlon has to solve its own challenges. Shanghvi, ...

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• 8 May

  J&J agrees to pay $1bn to settle hip implant suits

  

  Bloomberg Johnson & Johnson agreed to pay about $1 billion to resolve most lawsuits claiming it sold defective metal-on-metal hips that ultimately had to be removed, according to people with knowledge of the matter. With the agreement, J&J has now resolved more than 95 percent of the 6,000 cases in which surgeons extracted the Pinnacle implants because of defects that ...

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• 8 May

  Italy’s debt, deficit set to rise, says EU

  

  Bloomberg Italy’s fiscal situation will worsen this year and next because a pickup in the economy won’t be strong enough to stop its debt and deficit rising, the European Commission warned. While economic “growth is likely to rebound moderately on the back of firming external demand and higher social transfers,” Italy remains “the only euro-area member state where the snowball ...

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• 8 May

  Volkswagen’s Porsche unit settles German diesel probe for $599mn

  

  Bloomberg Volkswagen AG’s Porsche sportscar unit agreed to pay 535 million euros ($599 million) to end a probe into rigged diesel engines, bringing the total amount of fines in its home country to more than 2.3 billion euros. The carmaker won’t appeal the order which was levied as part of an ongoing criminal investigation targeting managers at the Porsche brand, ...

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• 8 May

  Lyft assures investors losses will drop in 2020

  

  Bloomberg In its first financial report since going public, Lyft Inc exceeded analysts’ sales expectations and assured investors that its hefty losses will decrease next year. The San Francisco-based company projected second-quarter revenue of $800 million to $810 million. Analysts were expecting $782 million, according to data compiled by Bloomberg. Sales grew 95 percent to $776 million in the first ...

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• 8 May

  IPO fever yet to bolster San Francisco real estate market

  

  Bloomberg Uber. Lyft. Pinterest. This year’s blockbuster tech IPOs have had real estate brokers in the San Francisco Bay area salivating over the prospect of fat commissions from home purchases by newly minted millionaires. But halfway through the housing market’s key spring selling season, there’s little indication that flush buyers are bidding up prices beyond their peak last year. In ...

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• 8 May

  Seoul says Trump supports food aid for North Korea

  

  Bloomberg South Korea said President Donald Trump supports the donation of food to North Korea through a UN agency, as the top US envoy noted the regime’s growing impatience with sputtering nuclear talks. Trump and South Korean President Moon Jae-in — who has tried to serve as a bridge between the US president and North Korean leader Kim Jong-un — ...

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• 8 May

  Ethiopia region seeks probe into killings near Sudan border

  

  Bloomberg International investigators should probe the killings of more than 200 people in Ethiopia amid a territorial dispute near the Sudanese border, a regional official said. The violence occurred in Agew Awi Zone in Amhara state, according to Adigo Amsaya, the deputy president of neighbouring Benishangul-Gumuz state. “Those responsible for this massacre have to be held accountable,” Adigo said by ...

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