March, 2019

• 6 March

  Kotak Asset picks battered midcaps to ride poll season

  

  Bloomberg Investors looking for opportunities to make money in India’s election year will most likely find them in the battered corner of the nation’s $2 trillion stock market: mid-cap shares. Mid- and small-sized companies are trading at a discount to their historical averages after the recent selloff, and the fund house plans to gradually boost its exposure to them relative ...

  Read More »
• 6 March

  Evidence grows Trump’s trade wars are hitting US economy

  

  Bloomberg President Donald Trump regularly declares that he’s winning his trade wars. Yet evidence is growing that the US economy is a net loser so far. In two separate papers published over the weekend, some of the world’s leading trade economists declared Trump’s tariffs to be the most consequential trade experiment seen since the 1930 Smoot-Hawley tariffs blamed for worsening ...

  Read More »
• 6 March

  PG&E ordered to comply with state fire-safety laws

  

  Bloomberg A federal judge is requiring PG&E Corp. to abide by rules governing how the utility operates its power lines in California, seeking to reform what he described as “dismal” management that led to a series of destructive fires over the past two years. US District Judge William Alsup gave PG&E a March 22 deadline to present any arguments as ...

  Read More »
• 6 March

  GE tumbles to 3-month low as power-unit woes sap 2019 cash

  

  Bloomberg General Electric Co.’s new boss warned of additional cash problems at the ailing company, eroding confidence in a nascent turnaround and sending the shares tumbling. Cash flow from GE’s industrial operations will be negative this year as GE grapples with further challenges in its power business and other operational pressures, Chief Executive Officer Larry Culp said at an industry ...

  Read More »
• 6 March

  Musk blindsided Tesla staff with store wind down

  

  Bloomberg Tesla Inc. Chief Executive Officer Elon Musk caught many employees by surprise with his announcement last week that the electric-car maker would close most stores and shift to online-only sales, according to three people familiar with the matter. Many sales personnel first found out about the decision when Tesla published a public blog post, said the people, who asked ...

  Read More »
• 6 March

  Armed soldiers abort plan to enter Venezuela by force

  

  Bloomberg Late last month, as US officials joined Venezuelan opposition leader Juan Guaido near a bridge in Colombia to send desperately needed aid to the masses and challenge the rule of Nicolas Maduro, some 200 exiled soldiers were checking their weapons and planning to clear the way for the convoy. Led by retired General Cliver Alcala, who has been living ...

  Read More »
• 6 March

  White House calls on Ukraine to dismiss its anti-graft prosecutor

  

  Bloomberg The US urged Ukraine to dismiss its anti-corruption prosecutor and revive efforts to tackle graft, signaling displeasure at the government’s current course from its biggest international backer. The US embassy in Kiev, the capital, said that Nazar Kholodnytskyi should be fired, legislation should be passed to replace the recent removal of punishments for illegal enrichment and 31 judges whose ...

  Read More »
• 6 March

  Another defeat stalks May’s revised Brexit deal

  

  Bloomberg UK Prime Minister Theresa May could be on course for another Brexit defeat in Parliament as her chief whip warned he wasn’t confident he had the numbers. Julian Smith is the man charged with trying to rustle up enough support for her divorce package from the European Union — and he told her top ministers that the vote next ...

  Read More »
• 6 March

  Ailing Bouteflika deepens Algeria turmoil

  

  Bloomberg Algerian President Abdelaziz Bouteflika’s health has reportedly deteriorated, deepening the uncertainty over his push for a fifth term in office that’s triggered unprecedented mass protests in the OPEC member state. The 82-year-old Bouteflika’s neurological reflexes have worsened and he requires constant care at the Geneva university hospital, Swiss daily Tribune de Geneve reported Wednesday. The development adds a new ...

  Read More »
• 6 March

  US sanctions renewal unjustified: Zimbabwe

  Bloomberg Zimbabwe’s ruling party slammed US President Donald Trump’s decisions to extend sanctions against the country, saying the government has implemented sufficient political reforms to merit a repeal. Trump extended penalties first imposed on Zimbabwe in 2003 for another year, saying the actions and policies of President Emmerson Mnangagwa’s government pose a threat to US foreign policy. The announcement followed ...

  Read More »