May, 2019

• 25 May

  Modi’s victory seen weighing on global sugar market

  

  Bloomberg The sugar industry in India, which jostles with Brazil as the world’s top producer, is likely to continue to benefit from significant government support after a landslide victory for PM Narendra Modi. This scenario may weigh on raw sugar futures in New York, which are already near the lowest in about seven months. In his first five-year term, Modi’s ...

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• 25 May

  Malaysia in talks with China firms on pipeline projects

  

  Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co and Huanqiu Project Management Beijing Co on the total compensation to be paid by Suria Strategic Energy Resources Sdn, which was overseeing the projects, for the termination of the work, ...

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• 25 May

  US proposes tariffs on nations with undervalued currencies

  

  Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released, would let US-based companies seek anti-subsidy tariffs on products from countries found by the US Treasury Department to be engaging in ...

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• 25 May

  Canada wholesale sales surge to one-year high

  

  Bloomberg Sales by Canadian wholesalers in March rose by the most in more than a year, another sign the economy is emerging from a temporary slow patch. Wholesale sales rose 1.4 percent during the month, the fastest increase since October 2017 and the fourth straight monthly gain, Statistics Canada reported. Economists surveyed by Bloomberg were expecting a gain of 0.9 ...

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• 25 May

  Bosch to pay $100m to settle German diesel-engine probe

  

  Bloomberg Robert Bosch GmbH agreed to pay 90 million euros ($100 million) to end a probe by German prosecutors into rigged diesel engines, following much more costly settlements by its customer Volkswagen AG. Bosch is being fined for “negligent breach of supervision duties,” the prosecutor’s office in Stuttgart said in an emailed statement. The company supplied about 17 million engine-control ...

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• 25 May

  US unveils antitrust investigation of real estate brokerage industry

  

  Bloomberg US antitrust officials are investigating potentially anti-competitive practices in the residential real estate brokerage business, with a focus on compensation to brokers and restrictions on their access to listings. The probe was detailed in a civil investigative demand, which is akin to a subpoena, issued by the Justice Department to CoreLogic Inc., which provides real estate data to government ...

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• 25 May

  German economy suffers another blow as business confidence drops

  

  Bloomberg German business confidence fell to the weakest in more than four years as the escalation of global trade tensions weighed heavily on outlook. Along with a survey showing manufacturing still contracting and new orders falling, it’s a reminder of the shaky situation Europe’s largest economy is in. Its car industry is in upheaval and industrial giants such as Thyssenkrupp ...

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• 25 May

  US to send 1,500 more troops to Mideast amid Iran tensions

  

  Bloomberg President Donald Trump has ordered the deployment of about 1,500 additional US troops and military hardware to the Middle East amid rising tensions with Iran. The troops will serve “mostly in a protective capacity,” Trump said as he departed the White House for Japan. The president’s decision comes after his administration said it had evidence Iran is threatening possible ...

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• 25 May

  Bolton condemns Kim missile launches, but open to talks

  

  Bloomberg National Security Advisor John Bolton said the US wants to restart talks with North Korea even while calling the regime’s missile launches this month a violation of United Nations resolutions. Speaking to reporters in Tokyo ahead of a trip to Japan by President Donald Trump, Bolton said the launches on May 4 and May 9 were of close-range and ...

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• 25 May

  Modi bolsters grip on power, pulls India to further right

  

  Bloomberg If anyone had any doubts about Narendra Modi’s popularity, India’s masses just put them to rest. His Bharatiya Janata Party swept to another single-party majority, a margin that surprised political watchers who expected him to return with a weakened mandate. A combination of economic populism, Hindu nationalism and air strikes against arch-rival Pakistan earlier this year proved unbeatable. “This ...

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