May, 2019

• 6 May

  Indonesia’s economic growth disappoints as exports slump

  

  Bloomberg Indonesia’s economic growth slowed in the first quarter amid a global slowdown that hurt the nation’s exports. Gross domestic product, the broadest measure of goods and services produced in the economy, rose 5.07 percent in the first quarter from a year ago, lower than the 5.2 percent median estimate in a Bloomberg survey of economists. Compared with the previous ...

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• 6 May

  China’s DouYu delays IPO in US on trade jitters

  Bloomberg DouYu International Holdings, a Chinese video-game live-streaming platform, is delaying the launch of its US initial public offering following market jitters over President Donald Trump’s threat to boost tariffs on China, people with knowledge of the matter said. The company, which initially planned to start its IPO roadshow on Monday US time, is considering postponing the launch by at ...

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• 6 May

  India’s services PMI drops to 7-month low

  Bloomberg Expansion in India’s dominant services sector weakened in April due to polls, a private survey showed, suggesting a delayed recovery to Asia’s third-largest economy. The Nikkei India services purchasing managers’ index fell to a seven-month low of 51 in April from 52 in the previous month on the back of slower increases in new business. The PMI survey showed ...

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• 6 May

  Trump’s tariff threat leaves Beijing stalling on next talks

  

  Bloomberg Talks between the US and China to resolve their year-long trade standoff appeared to be on life-support on Monday, with Beijing struggling to respond to tweets by President Donald Trump that threaten an escalation of tariffs by the end of the week. China’s foreign ministry said that officials were still planning to travel to the US for the next ...

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• 6 May

  Telenor, Axiata in talks to create Asian mobile giant

  

  Bloomberg Norway’s Telenor ASA and Axiata Group Bhd, Malaysia’s biggest wireless carrier, are in talks to combine their Asian telecommunication operations to create a company with 300 million customers in nine countries. The proposed transaction will form an entity with sales of about $13 billion and earnings of about $5.5 billion. Potential “synergies” from the deal would amount to about ...

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• 6 May

  Cyclone-hit India state seeks $14b for reconstruction

  

  Bloomberg The eastern Indian state of Odisha, battered by one of the strongest cyclones in two decades, needs at least one trillion rupees ($14 billion) to rebuild damaged houses and public infrastructure, a government official said on Monday. About 500,000 people have lost their houses and would need reconstruction, said Bishnupada Sethi, special relief commissioner with the Odisha government. Almost ...

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• 6 May

  Qualcomm sees up to $4.7bn payment from Apple deal

  

  Bloomberg Apple Inc. will pay Qualcomm Inc. $4.5 billion to $4.7 billion to catch up on licensing fees accrued during a two-year legal battle between the companies settled last month. Qualcomm made the disclosure in its earnings report, while Apple declined to answer questions about the settlement during its own second-quarter earnings conference call. The figure was less than the ...

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• 6 May

  ‘EU limits on biofuel use will backfire’

  

  Bloomberg Franky Widjaja, head of one of the world’s biggest palm plantation companies, warned that the European Union’s plans to restrict use of the tropical oil in biofuel will misfire as the move will hurt growers and jeopardise future supplies of the vegetable oil. The world needs palm oil as supplies from alternative oilseeds just won’t be enough to meet ...

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• 6 May

  3M to buy Acelity in record $4.3bn pact

  

  Bloomberg 3M Co. agreed to buy medical-products maker Acelity Inc. for about $4.3 billion, its biggest acquisition ever, as new Chief Executive Officer Mike Roman takes a more aggressive approach to expanding the beleaguered company. The purchase, from a group of funds advised by Apax Partners, is spurring 3M to scale back share repurchases to conserve cash. 3M will cut ...

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• 6 May

  EU to begin probe of Apple in Spotify case

  

  Bloomberg The European Union will start a formal probe of Apple Inc. in the next few weeks following Spotify Technology SA’s antitrust complaint, the Financial Times reported. The music streaming giant had complained to the EU’s antitrust agency earlier this year that Apple’s 30 percent cut of revenue was effectively a tax on competitors. The feud came as the iPhone ...

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