February, 2019

• 5 February

  Anti-EU momentum stirring in Norway

  Bloomberg Kicking off the year in a T-shirt proclaiming that she “loves, loves the EEA,” Foreign Minister Ine Eriksen Soreide hinted at the high-stakes fight that’s brewing in Norway over its relationship with the European Union. Soreide’s show of passion comes 25 years after Norway linked itself to the EU in a free-trade deal as part of the European Economic ...

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• 5 February

  BP profit beats expectations

  

  Bloomberg BP Plc joined its Big Oil peers by giving investors a positive surprise, exceeding profit estimates and earning better returns than its closest European rival. Shares surged by the most in almost three years. New projects delivered an increase in oil and gas output, while the company also worked its existing fields and refineries more efficiently than ever. That ...

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• 5 February

  Total weighs bid for Eneco Group in challenge to Shell

  

  Bloomberg French oil giant Total SA is working with advisers as it weighs an offer for Eneco Groep NV, joining a number of financial and industry bidders for the Dutch utility, including rival Royal Dutch Shell Plc, people familiar with the matter said. The firm, which is owned by dozens of Dutch municipalities and is due to be auctioned this ...

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• 5 February

  Gas shortage idles US auto factories

  Bloomberg The three largest automakers in US suspended some operations on the coldest day of the year after a fire at a Southeast Michigan natural gas facility drastically reduced their supply of the heating fuel. Energy prices soared as freezing weather spread into the Northeast and closed a nuclear reactor in New Jersey. CMS Energy Corp.’s Consumers Energy utility sends ...

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• 5 February

  India mulls prepaid power as $5.7bn of unpaid dues pile-up

  

  Bloomberg India’s power retailers may need to start paying in advance for their electricity purchase in a bid to ease financial stress at generators. Concerned over delayed payments to generators, the federal power ministry has formed a panel to examine if distribution companies should pay generators in advance for electricity purchases, according to a power ministry document reviewed by Bloomberg. ...

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• 5 February

  India’s services sector activity cools in Jan

  

  Bloomberg Activity in India’s dominant services sector cooled in January, adding to the urgency for the central bank to do more to support the economy as it meets on interest rates. The seasonally adjusted Nikkei India Services Business Activity Index fell for the second straight month in January to 52.2 from 53.2 in December, indicating a softer expansion in output. ...

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• 5 February

  Samsung faces pressure to slash spending as chip demand slows

  

  Bloomberg With Samsung Electronics Co. set to report its first drop in quarterly profit in two years, investors are counting on the world’s biggest chipmaker to cut capital spending to keep profits flowing during a supply glut. Samsung will probably report a 15 percent decline in net income to about 10.2 trillion won ($9.1 billion) for the last three months ...

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• 5 February

  Kirin expands its wellness business

  

  Bloomberg Kirin Holdings Co. agreed to acquire most of the biochemicals business from its Kyowa Hakko Kirin Co. unit in a transaction valued at 128 billion yen as it seeks to strengthen its budding consumer health-care segment. Kirin is purchasing a 95 percent stake in Kyowa Hakko Bio Co., which produces specialty chemicals and vitamins for the health and wellness ...

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• 5 February

  Billionaire’s wireless bankruptcy may aid richer brother

  

  Bloomberg In a twist to the tale of two rival billionaire brothers in India, a bankruptcy filing by Anil Ambani’s wireless carrier could have one clear winner — his elder sibling’s disruptive mobile phone unit. The process initiated in Mumbai, once admitted by the court, would leave Ambani’s Reliance Communications Ltd., or RCom, 270 days to repay debt or liquidate. ...

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• 5 February

  Bezos loses out to billionaire Ambani in India e-retail battle

  

  Bloomberg Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election. The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the US giants. On cue, India this month rolled out constraints on ...

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