January, 2019

• 13 January

  Alberta keeps oil cuts at January levels

  

  Bloomberg Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged. The province’s oil producers collectively must cut February output by 325,000 barrels a day, according to an email from Mike McKinnon, an energy ministry spokesman. The baseline for the cuts is the highest single month of production ...

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• 13 January

  Pressure mounts on Huawei after spying arrest

  

  Bloomberg As Poland added to the global scrutiny of Huawei Technologies Co with the arrest of a company employee and a local former security agent, the country’s authorities also exposed the division in Europe over policy towards the Chinese technology giant. Huawei is facing increasing pressure across the European Union amid growing concerns that Beijing could use the company’s equipment ...

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• 13 January

  Alibaba-backed AI firm mulls $1bn IPO

  

  Bloomberg Megvii, the owner of facial recognition developer Face++, is considering an initial public offering in Hong Kong that could net as much as $1 billion, people familiar with the matter said. Megvii is weighing an IPO to raise between $500 million and $1 billion with Hong Kong as a destination, the people said, requesting not to be named because ...

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• 13 January

  Indonesia plans new investment tools for its ‘amnesty funds’

  

  Bloomberg Indonesian authorities are working to develop new investment instruments with “good” returns in a bid to retain onshore more than $10 billion that was repatriated under a tax amnesty program three years ago, with officials acting before a lock-in period on the funds expires later this year. Bank Indonesia, the Ministry of Finance and the Financial Services Authority are ...

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• 13 January

  Singapore kickstarts zero-waste plan

  Bloomberg Singapore is making a clarion call to citizens and businesses to reduce domestic and industrial waste towards zero as the country’s recycling rate has stalled and its sole landfill may run out of space by 2035. The government will publish a master plan in the second half, with grants to support projects, Masagos Zulkifli, minister for environment and water ...

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• 13 January

  Toyota’s new safety system keeps cars from crashing

  

  Bloomberg Toyota Motor Corp — in an unusual move for the cut-throat car business — has decided to share with rivals an automated safety system that uses self-driving technology to keep cars from crashing. The system, known as Guardian, will take control of a car and steer it around an impending crash or accelerate out of the path of an ...

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• 13 January

  J&J’s $4.7 billion court loss may fade and go unpaid

  

  Bloomberg A $4.7 billion jury verdict against Johnson & Johnson in July helped spark the company’s biggest annual share loss in a decade, spotlighting the potential cost of alleged health risks from its popular baby powder. But investors may have overreacted when a St. Louis jury sided with 22 women who claimed asbestos in the powder caused their ovarian cancer. ...

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• 13 January

  American economy floating on ocean of debt, warns Gundlach

  

  Bloomberg Jeffrey Gundlach said yet again that the US economy is gorging on debt. Echoing many of the themes from his annual “Just Markets” webcast, Gundlach took part in a round-table of 10 of Wall Street’s smartest investors for Barron’s. He highlighted the dangers especially posed by US corporate bond market. Prolific sales of junk bonds and significant growth in ...

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• 13 January

  Ford’s cost purge hits Europe with thousands of job cuts

  

  Bloomberg Ford Motor Co said it will cut thousands of jobs, weed out slow-selling variants and potentially close entire factories in Europe, as the carmakers’s global cost-cutting drive targets a region that has been a drag on earnings for years. The manufacturer, which employs some 54,000 workers across the region mainly in Germany, the UK and Spain, will also review ...

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• 13 January

  PG&E may give workers notices on bankruptcy

  

  Bloomberg PG&E Corp, the California utility giant facing billions of dollars in wildfire liabilities, may notify employees as soon as Monday that it’s preparing a potential bankruptcy filing, according to people familiar with the situation. The San Francisco-based utility owner is planning to send the notice to fulfill a state law that requires the company to alert workers at least ...

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