April, 2019

• 29 April

  Tesla’s cash shows need for speed

  

  It took Tesla Inc. longer than usual to release its first-quarter results on April 24. One can see why. As the sales numbers foreshadowed (again, with an unusual delay), revenue dropped more than a third versus the prior quarter, although it was still up a third over a year earlier. Automotive gross profit margin came in at just under 20 ...

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• 29 April

  A big German victory on Britain’s high streets

  The “Sasda” dream is over. Almost a year since British grocery giant J Sainsbury Plc clinched a clever 7.3 billion pound ($9.4 billion) deal to buy Walmart Inc.’s Asda, the UK’s Competition and Markets Authority has blocked the transaction. Both companies have agreed to walk away. The CMA is wrong to take such a harsh line, which went even further ...

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• 29 April

  Trump’s policies are a gift to Venezuela’s Maduro

  President Donald Trump’s Venezuela gambit has come up short. Three months after the US recognised opposition leader Juan Guaido as president and rolled out far-reaching energy sanctions, Nicolas Maduro remains entrenched atop his militarised regime. Disappointed, the US administration has begun lashing out. Yet its new moves will divide the dozens of countries that have joined an anti-Maduro coalition, making ...

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• 29 April

  Africa’s only way out of poverty is to industrialise

  

  African industrialisation has to be among the most important things happening in the world right now. The vast continent, with more than 1.2 billion people, is home to an increasing fraction of the human beings who are still mired in extreme poverty: By 2030, the World Bank projects that almost all the people in extreme poverty will live in sub-Saharan ...

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• 29 April

  Sainsbury faces tough times in its Asda future

  

  Now that J Sainsbury Plc’s 7.3 billion pound ($9.4 billion) purchase of Walmart’s Asda has gone out with the spoiled salad, the UK listed supermarket must show it has a good shot at going it alone. Mike Coupe, CEO of Sainsbury, says he is confident in the group’s strategy. Investors clearly don’t share that view – at one point on ...

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• 29 April

  Uber is a growth business that has trouble growing

  

  Remember this moment. Early 2019 may have showed us the ceiling for the business of selling car rides at the tap of a smartphone. In an updated financial document for its coming initial public offering, Uber Technologies Inc. disclosed that the total value of rides on its service was between $11.3 billion and $11.45 billion in the first quarter of ...

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• 29 April

  US stocks rise above record in data-rich week; oil slips

  

  Bloomberg US stocks rose above their record high at the start of a week packed with data that will provide clues on global economic growth. Treasury yields and the dollar climbed, while oil fell. Financial and industrial companies led gains in the S&P 500 Index as traders also awaited earnings reports from giants including Alphabet Inc, General Motors Co and ...

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• 29 April

  China stocks retreat after worst week vs world since 2016

  

  Bloomberg This year’s rally in Chinese shares is threatening to unravel almost as quickly as it began. The Shanghai Composite Index fell 0.8 percent and ended the session below its 50-day moving average. That follows its 5.6 percent slump, the worst performance versus global equities since early 2016. The ChiNext Index dropped 2.6 percent. China was the best place in ...

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• 29 April

  Deutsche Bank slashes revenue outlook as merger talks collapse

  

  Bloomberg Deutsche Bank AG cut its outlook for full-year revenue after suffering its ninth straight quarter of contraction, underscoring the need to put Europe’s largest investment bank on a stronger footing following the collapse of merger talks with Commerzbank AG. The bank said it expects business to be flat this year, after previously predicting a slight increase. Income from buying ...

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• 29 April

  China’s biggest banks post higher profits amid fresh loan push

  

  Bloomberg China’s largest lenders posted increases in first-quarter profit and higher interest income as authorities encouraged fresh lending to support the economy. Industrial & Commercial Bank of China Ltd., Agricultural Bank of China Ltd., Bank of Communications Co. and Bank of China Ltd. reported net income rose as much as 4.9 percent in the three months that ended on March ...

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