February, 2019

• 16 February

  Australia in tree-planting binge to help meet climate targets

  

  Bloomberg Australia aims to plant a billion trees by 2050 as part of a new forestry plan the government says will help the country meet its Paris Agreement climate targets. A sod-turning spree on that scale would contribute to the removal of 18 million tons of greenhouse gas per year by 2030 in a country currently producing in excess of ...

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• 16 February

  Singapore economy grows at slower pace

  Bloomberg Singapore’s economy grew at a slower pace in the fourth quarter than previously estimated, a sign that US-China trade tensions and weaker global demand are starting to bite. Gross domestic product (GDP) increased an annualized 1.4 percent from the prior quarter, lower than the government’s earlier projection of 1.6 percent and the median forecast of 1.5% in a Bloomberg ...

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• 16 February

  Thousands fired from $30bn Bangladesh garment sector

  

  Bloomberg Garment worker Rabeya started protesting on the streets of Dhaka in early January to pressure her employer — one of Bangladesh’s major suppliers to European clothing giant H&M — to pay a new minimum wage for its workers. On February 9, she said two company officials from Moon Readywears Ltd. told her not to bother returning to her job ...

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• 16 February

  Trump-Kim summit could open pathway to safer world

  

  The showy first summit between President Trump and North Korean leader Kim Jong Un last June was draped in flags and bunting, but the decoration covered what turned out to be a mostly empty box that lacked a shared agreement on denuclearisation. Given this disappointing record, what’s realistically possible when the two leaders meet again in two weeks in Vietnam? ...

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• 16 February

  Troubling times at Bank of Italy

  

  Italy’s populist government has its eye on the country’s financial regulators. Rome has suffered a long series of banking scandals, so it’s only fair to ask for more accountability. But the way the ruling League and Five Star Movement are proceeding should worry anybody who cares about the independence of these institutions. The coalition has nominated Paolo Savona, European Affairs ...

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• 16 February

  Nissan now has more to worry about than Ghosn

  Wade past the shadows of the Carlos Ghosn debacle and a picture emerges of a car business that was already in deep trouble. Nissan Motor Co.’s operating profit dropped around 14 percent in the first nine months, margins shrank, and net income tanked 45 percent from a year earlier, the Japanese carmaker said. The company also booked a 9.2 billion-yen ...

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• 16 February

  Choosing a new World Bank boss is a chance to rethink

  President Trump has nominated David Malpass, a senior Treasury official and former Wall Street economist, to succeed Jim Yong Kim as next leader of the World Bank. Rather than rubber-stamp the US nomination, as the bank’s other member governments are generally inclined to do, they should ask whether Malpass is the best available candidate — and, even more important, start ...

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• 16 February

  Amazon’s retreat heralds new era of corporate welfare fights

  

  Bloomberg Just as New Yorkers were absorbing Amazon.com Inc.’s decision to abandon a new office hub after tangling over $3 billion in tax breaks, General Electric Co. was beating a retreat in Boston, canceling plans to build an office tower and promising to return $87 million in government incentives. In Wisconsin, Taiwanese manufacturer Foxconn was backing away from promises it ...

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• 16 February

  Apollo to acquire majority stake in Cox’s TV stations

  Bloomberg Apollo Global Management LLC agreed to buy the majority stake in Cox Enterprises Inc.’s television broadcasters, transforming the private equity giant into a key player in local TV with 13 stations from Florida to Seattle. Cox will keep a minority stake and help operate the stations via a new business based in Atlanta, the companies said. The deal also ...

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• 16 February

  Windstream in peril after losing court ruling on default to Aurelius

  

  Bloomberg The fate of Windstream Holdings Inc. was cast into doubt after a court ruled that the rural phone company defaulted on its bonds in 2015 by spinning off Uniti Group Inc. Windstream shares fell as much as 43 percent in extended trading. The ruling in Manhattan federal court is a victory for New York hedge fund Aurelius Capital Management ...

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