May, 2019

• 7 May

  Luckin Coffee seeks to raise up to $510 million in US IPO

  

  Bloomberg Luckin Coffee Inc, the ambitious startup that is challenging Starbucks Corp in the race to dominate China’s growing coffee culture, is seeking to raise as much as $510 million in its US initial public offering. The Xiamen-based company said in a filing that it’s planning to sell 30 million American depositary shares for $15 to $17 each. At that ...

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• 7 May

  Thyssenkrupp positive over Tata Steel deal

  

  Bloomberg Thyssenkrupp AG sees room for reaching an agreement with the European Commission on a planned joint venture with Tata Steel Ltd as “further discussion” with Competition Commissioner Margrethe Vestager is set for next week. “The EU commission has taken the adjustments to the remedies offered by Thyssenkrupp and Tata Steel as an opportunity to conduct another market test,” Peter ...

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• 7 May

  Jokowi scouts sites as Indonesia capital move gathers pace

  

  Bloomberg Indonesian President Joko Widodo arrived in Borneo island to survey possible locations for a new capital, fast-tracking a plan to move the administrative headquarters out of over-crowded and congested Jakarta. Widodo, known as Jokowi, arrived at Balikpapan city in East Kalimantan and visited Bukit Soeharto, one of the locations being considered for the capital, his office said in a ...

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• 7 May

  Canada likely to proceed with Trans Mountain expansion

  

  Bloomberg The Canadian government is likely to proceed with expansion of the Trans Mountain oil pipeline when it announces its decision next month, officials familiar with the matter say. The government has made no secret about its interest in finding a way to expand the conduit, but has tiptoed around the matter to avoid opening any decision up to legal ...

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• 7 May

  Vodafone seeks EU nod for German deal with Telefonica offer

  

  Bloomberg Vodafone Group Plc is seeking to address the European Union concerns over its 18.4 billion-euro ($20.6 billion) bid for Liberty Global Plc’s cable assets by offering rival Telefonica SA wholesale access to its entire German cable network. The Spanish company’s local unit Telefonica Deutschland would be able to use the combined Vodafone and Unitymedia high-speed network across Germany under ...

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• 7 May

  BMW profit down for first time in a decade

  

  Bloomberg BMW AG’s automotive division swung to a loss for the first time in a decade as car prices slumped and a legal provision over alleged collusion ballooned to 1.4 billion euros ($1.6 billion). Excluding the set-aside, earnings at the carmaker’s main unit fell by 42 percent to 1.1 billion euros in the first quarter. Price competition in some markets ...

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• 7 May

  DSM raises 2019 outlook on growth into nutrition market

  

  Bloomberg Royal DSM NV bucked a downward trend in the chemical industry by raising 2019 guidance as the Dutch company beat profit forecasts following growth in nutrition and healthcare markets. The maker of vitamins and dietary supplements sees earnings increasing by close to 10 percent this year, dropping the lower end of its previous guidance range. Adjusted earnings before interest, ...

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• 7 May

  Mexico border delays weigh on US investment, factories

  

  Bloomberg More cargo from Mexico to the US is being held up at the border, accompanied by increasing evidence that such delays are dimming prospects for American companies. Slower trade between the countries since federal border officers were recently redirected to deal with a surge in migrants has been socking businesses with additional shipping costs. The effects will likely cause ...

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• 7 May

  Weapons tested by Kim could strike deep into South Korea

  

  Bloomberg The weapons North Korea launched travelled into the stratosphere and flew at a distance long enough to strike deep into South Korean territory, according to a South Korean assessment. South Korea’s Joint Chiefs of Staff did not indicate what was fired off of North Korea’s east coast and into the sea, but experts believe at least one ballistic missile ...

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• 7 May

  At least 31 dead in South Sudan wildfire

  

  Bloomberg A wildfire engulfed three villages in the northwest of war-torn South Sudan, killing at least 31 people and destroying homes and livestock, a regional official said. Some 68 others were injured in the inferno that began in Korok county, part of Lol state, according to local Information Minister Mathok Wal. The cause of the fire. which was spread by ...

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