April, 2019

• 2 April

  Malaysia’s IHH loses $800 million in value

  Bloomberg The troubles are adding up for IHH Healthcare Bhd, wiping almost $800 million from its market value over three days. A whipsawing Turkish lira, a major shareholder cutting its stake, and continued uncertainty over a plan to buy Fortis Healthcare Ltd have led IHH to fall 6.6 percent over three days while the benchmark index was largely flat. IHH ...

  Read More »
• 2 April

  EU-US trade talks to face delay, risking Trump ire

  

  Bloomberg European Union governments are struggling to reach consensus on a mandate to begin trade talks with the US, risking a delay that would further provoke Donald Trump’s ire after the bloc’s refusal to include agriculture in the negotiations. At a meeting of EU ambassadors in Brussels on Wednesday, France is expected to resist giving the European Commission the green ...

  Read More »
• 2 April

  EU delivers UK tax bill as Brexit deal eludes parliament

  

  Bloomberg The European Union ordered the UK to claw back illegal tax breaks designed to lure multinationals to the nation — in a timely reminder that the EU still calls the shots on competition rules until Britain leaves the bloc. The European Commission targets the UK’s group financing exemption, which allows companies active in the country to pay little or ...

  Read More »
• 2 April

  UK firms least likely to invest in 8 years

  Bloomberg Investment intentions among UK firms slumped to the lowest in eight years, just one of the measures of economic health that weakened “considerably” amid recent Brexit turmoil, according to the British Chambers of Commerce (BCC). The balance of services businesses reporting an increase in export sales stood at zero in the first quarter, its weakest level since 2009, the ...

  Read More »
• 2 April

  Fiat to play active role in industry change

  

  Bloomberg Fresh off reports that it’s exploring a venture with PSA Group to build cars in Europe, the chairman of Fiat Chrysler Automobiles (FCA) said the automaker will remain an active player in helping to shape an automotive industry being transformed by technology. John Elkann, the chairman and chief executive officer of Exor NV, wrote in a letter to shareholders ...

  Read More »
• 2 April

  Global economy has lost momentum, says Lagarde

  Bloomberg Global growth has lost momentum since the start of the year, leaving the world economy in a “precarious” position, IMF Managing Director Christine Lagarde said. The global economy has weakened since the International Monetary Fund last updated its forecast in late January, though a recession isn’t likely in the near term, Lagarde said in remarks prepared for a speech ...

  Read More »
• 2 April

  Combusting Hyundais, Kias spur US probe of 3mn cars

  

  Bloomberg The National Highway Traffic Safety Administration (NHTSA) is investigating some 3 million US vehicles made by Hyundai Motor Co and Kia Motors Corp. following thousands of complaints that the vehicles went up in flames even without being involved in a crash. NHTSA tallied more than 3,000 complaints about the Hyundai and Kia vehicles that drivers lodged with the agency ...

  Read More »
• 2 April

  Algeria’s Bouteflika promises to resign, to leave his mark

  

  Bloomberg Battered by more than a month of protests, Algerian President Abdelaziz Bouteflika said he would step down before the end of his fourth term on April 28, but suggested he would still craft the foundations of the transition to come. The announcement appeared aimed at avoiding what could be a military-sanctioned, and embarrassing, constitutional push to have him declared ...

  Read More »
• 2 April

  Thailand’s army chief slams Thaksin in rare remarks

  

  Bloomberg Thailand’s army chief slammed exiled former leader Thaksin Shinawatra in a rare briefing following a disputed election, a further sign that his allies will struggle to form a government. “He never admits to his crime,” Apirat Kongsompong told foreign media organisations in Bangkok. “If someone has money and is powerful, does that mean you can never go to jail? ...

  Read More »
• 2 April

  India opposition leader pledges to end poverty by 2030

  

  Bloomberg India’s main opposition Congress party has pledged to tackle unemployment and poverty as it seeks to wrest power from Prime Minister Narendra Modi’s ruling coalition just days out from a national election. Led by Rahul Gandhi, the party released its election manifesto in New Delhi, promising to rid India of poverty by 2030, waive farm loans, introduce a single ...

  Read More »