May, 2019

• 18 May

  Alibaba faces EU consumer complaints over user terms

  

  Bloomberg Alibaba Group Holding Ltd faces complaints from six European consumer organisations into allegedly unfair user terms for its online retail service, arguing some of the clauses violate European Union law. Consumer groups, including from France, Spain, Italy and the Netherlands, filed complaints with national regulators to probe “unclear” and “problematic contract terms and practices” for AliExpress users in the ...

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• 18 May

  ‘US fabricated tech transfer claims’

  Bloomberg The US “purely fabricated” accusations that Chinese authorities had been forcing foreign companies to transfer technology, according the flagship newspaper of the Communist Party, saying it was an old argument to suppress the country’s development. The US hasn’t been able to provide examples of cases where overseas companies had to do so despite repeated requests by China for evidence, ...

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• 18 May

  Economy to slow in 2019: Hong Kong

  Bloomberg Hong Kong’s government maintained its forecast for gross domestic product growth this year at between 2 percent and 3 percent, as the city grapples with the fallout from the trade war between the US and China. In a release revising up first quarter GDP growth to 0.6 percent from a year ago, the government said the outlook is currently ...

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• 18 May

  Singapore’s BandLab to buy magazines from TI

  Bloomberg BandLab Technologies, a Singapore-based social music platform, has agreed to acquire British music magazines NME and Uncut from TI Media for an undisclosed amount to expand its global music media business. NME, which started as a British weekly in 1952, has evolved into a digital brand. The deal, which includes the brands’ social, digital and print assets, is expected ...

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• 18 May

  Trump lifts steel, aluminum tariffs on Canada, Mexico

  

  Bloomberg President Donald Trump said the US will lift steel and aluminum tariffs on Canada and Mexico, boosting efforts to encourage lawmakers to ratify a new North American trade deal. “I’m pleased to announce that we’ve just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major ...

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• 18 May

  Cisco bullish forecast signals continued corporate spending

  

  Bloomberg Cisco Systems Inc. gave a bullish sales and profit forecast for the current period, a sign that corporations continue to spend on their computer networks despite concern that a trade dispute between China and the US will slow global economic growth. Sales in the fiscal fourth quarter will increase 4.5% to 6.5% from the same period a year earlier, ...

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• 18 May

  Norway’s job vacancies at highest in a decade as economy recovers

  

  Bloomberg The number of vacant jobs in Norway rose to the highest in at least a decade, underscoring the strength of momentum in the oil-rich economy after the central bank flagged another interest rate increase will come again in June. The number of vacancies, seasonally adjusted, rose to 71,800 in the first quarter, Statistics Norway said. That beat a previous ...

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• 18 May

  BMW CEO defends track record despite weaker margins

  

  Bloomberg BMW AG’s chief executive officer defended his track record at the company’s annual meeting, highlighting a luxury lead in the US and sales growth through a Chinese downturn, even as the carmaker battles to reverse weaker margins. BMW is struggling alongside rivals with a drop in demand after years of auto-industry growth, and record spending for a technology transition. ...

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• 18 May

  Conservatives edge closer to victory in Australia elections

  

  Bloomberg Australian PM Scott Morrison’s conservative government appeared poised to claim a come-from-behind victory in Australia’s election against the left-leaning Labor party. While opinion polls had pointed to a Labor win, with more than half the votes counted the Australian Broadcasting Corp predicted the Liberal-National coalition would form government, though it remained unclear whether it would get the 76 seats ...

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• 18 May

  Indonesia arrests 29 suspects for plotting attack on poll rallies

  

  Bloomberg Indonesian police have arrested dozens of extremists linked to IS, who authorities said were plotting attacks next week on political rallies outside the nation’s election commission office during the announcement of the official result of the presidential vote. Most of the 29 suspects detained in the past two weeks were former IS extremists, who fought for several years in ...

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