April, 2019

• 13 April

  China exports rebound, imports warn of fragility

  

  Bloomberg China’s exports rebounded after the Lunar New Year holiday amid a pickup in trade talks optimism, while a continued slide in imports underscored the fragility of the domestic economy. Exports jumped 14.2 percent in March from a year earlier while imports fell 7.6 percent in dollar terms, the customs administration said. That left a trade surplus of $32.65 billion, ...

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• 13 April

  Ma draws controversy by lauding overtime work culture

  

  Bloomberg To survive at Alibaba Group Holding Ltd. you need to work 12 hours a day, six days a week. That’s what billionaire Jack Ma demands of his staff at China’s biggest e-commerce platform. Ma told an internal meeting that Alibaba doesn’t need people who look forward to a typical eight-hour office lifestyle, according to a post on Alibaba’s official ...

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• 13 April

  Chevron leaps to ‘ultramajor’ oil status with $33b Anadarko deal

  

  Bloomberg Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that adds US shale oil and African liquefied natural gas and puts it in the top ranks of the world’s largest energy companies. The takeover puts Chevron neck-and-neck with the oil and gas production of Exxon Mobil Corp. and Royal Dutch Shell Plc, both of which ...

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• 13 April

  GE finalises $1.5bn settlement over old subprime business

  

  Bloomberg General Electric Co. finalised an agreement to pay $1.5 billion to settle a US investigation into the manufacturer’s defunct subprime-mortgage business. The civil penalty will resolve claims that WMC Mortgage, a former unit of GE’s finance arm, misrepresented the quality of residential mortgage-backed securities, the US Justice Department said in a statement. GE, which first revealed the agreement in ...

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• 13 April

  Trump says US ‘must win’ race to develop 5G infrastructure

  

  Bloomberg President Donald Trump said the US will cut regulations and free up spectrum for 5G technology amid tight competition with China and other nations to develop the next genera-tion of telecommunications infrastructure. “The race to 5G is a race that America must win,” Trump said at the White House. “We cannot allow any other country to out-compete the United ...

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• 13 April

  GM’s talks with e-vehicle firm Rivian collapse

  

  Bloomberg Talks between General Motors Co. and electric-vehicle startup Rivian Automotive Inc. about the largest US carmaker buying an equity stake have reached an impasse and may be dead, people familiar with the matter said. GM had negotiated potentially taking a stake in Rivian and forging a partnership that may have helped the Plymouth, Michigan-based startup bring fully electric trucks ...

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• 13 April

  PG&E caps best day since going bankrupt in Jan

  Bloomberg Utility giant PG&E Corp. capped its best day since going bankrupt in January thanks to California’s governor. Gavin Newsom called on lawmakers to find a way to help the state’s utilities cover the costs of devastating wildfires — costs so crippling that PG&E was forced to file for Chapter 11 in January while facing $30 billion in liabilities. He ...

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• 13 April

  Kim gives US time until year end to strike nuclear deal

  

  Bloomberg North Korean leader Kim Jong-un said he’s willing to hold a third summit with President Donald Trump as long as the US offers acceptable terms for an agreement by the end of the year. In remarks carried by the official Korean Central News Agency (KCNA), Kim said he wouldn’t welcome a repeat of the Hanoi summit in February, when ...

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• 13 April

  Protesters celebrate as Sudan’s army council chief resigns

  

  Bloomberg Sudan’s pro-democracy movement claimed the scalp of its second leader in less than a week after the head of a transitional government stepped down to be replaced by another military figure. Defense Minister Ahmed Awad Ibn Auf announced his resignation in a televised speech, less than two days after the army ousted President Omar al-Bashir. The move was met ...

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• 13 April

  Afghan Taliban spring offensive draws US ire

  

  Bloomberg The US condemned the Taliban’s launch of a new spring offensive in Afghanistan as the world’s biggest military power continues to pursue peace talks with militants in the war-torn country. Calling the Taliban move “reckless,” US Special Envoy on Afghan Reconciliation Zalmay Khalilzad said on Twitter that the insurgents demonstrated their “indifference” to the peace demands of the Afghan ...

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