January, 2019

• 8 January

  Oil trading losses no cause for panic on China’s Sinopec

  

  Bloomberg Sinopec Corp’s trading losses shouldn’t deflect investors from the potential opportunity presented by its shares holding near a two-year low. The refining giant, officially called China Petroleum & Chemical Corp, has slumped 10 percent in the past month amid a global oil rout and after it reported losses on derivatives linked to crude prices at its main trading unit ...

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• 8 January

  Macquarie seeks to buy IL&FS energy assets

  

  Bloomberg Macquarie Infrastructure & Real Assets and NTPC Ltd, India’s largest power utility, are among companies interested in buying some of the renewable energy assets of beleaguered shadow financier Infrastructure Leasing & Financial Services Ltd, people familiar with the matter said. GAIL India Ltd and Solar Energy Corporation of India have also submitted expression of interest to buy the assets, ...

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• 8 January

  Hydro One Avista deal hits roadblock again

  

  Bloomberg Idaho regulators rejected Hydro One Ltd’s $3.4 billion takeover of Avista Corp, the second time state officials cited political risks in Ontario as grounds to nix the Canadian company’s effort to buy the US utility. The Idaho Public Utilities Commission said “the management of Hydro One is subject to the province’s political pressure,” and the takeover would therefore be ...

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• 8 January

  US drivers could pay less for gas in 2019

  Bloomberg American drivers are likely to pay a little less for gas this year and President Donald Trump is happy to take credit. The projected $2.70 a gallon pump price for 2019 is 3 cents lower than 2018 levels, although this year’s high could reach $3 as soon as May and top $4 in some cities, according to GasBuddy’s Price ...

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• 8 January

  Ghosn rejects allegations in his first court hearing

  

  Bloomberg Former Nissan Motor Co Chairman Carlos Ghosn rejected prosecutors’ claims of financial wrongdoing and pledged his loyalty to the company he led for more than a decade, as the fallen car titan faces an extended detention following his shock arrest in Japan almost two months ago. “I have been wrongly accused and unfairly detained based on meritless and unsubstantiated ...

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• 8 January

  Samsung bears win after ‘stock swings’

  

  Bloomberg Samsung Electronics Co. ended the day weaker, giving into bears worried about the outlook for the first half following today’s disappointing fourth-quarter earnings estimates. The shares swung between a gain of as much as 1.2 percent and a loss of 2.1 percent before finishing the day 1.7 percent lower. The stock rose as analysts said the bleak fourth-quarter results ...

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• 8 January

  India gold imports collapsed last year

  

  Bloomberg Gold imports by India tumbled by a fifth last year as high domestic prices deterred buyers in the second-biggest consuming nation and local stores remained well-stocked, highlighting a headwind to global demand even as bullion in dollars gains on renewed haven buying. Overseas purchases fell to 762 metric tons in 2018, a 20 percent slump from the previous year, ...

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• 8 January

  Xiaomi shares to be unlocked for sale

  

  Bloomberg Many Xiaomi Corp investors, who could only watch as the stock shed $14 billion in market value, will now be able to join in on the selling. Expiring on Wednesday is the six-month lockup period that followed the company’s Hong Kong debut, during which some employees and cornerstone investors were banned from disposing of their allocated shares. It’s been ...

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• 8 January

  Malaysia probing if China offered to bail out 1MDB

  

  Bloomberg Malaysia is looking into allegations that China offered to help deter probes into 1MDB in exchange for infrastructure projects, after the Wall Street Journal reported that senior Chinese leaders offered to help bail out the troubled state fund in 2016. The government is unaware of the discussions detailed in the Journal report, which cited minutes from meetings the newspaper ...

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• 8 January

  California’s businesses, govt would join in drug buying pact

  

  Bloomberg California’s newly sworn-in Democratic governor has proposed using the state’s substantial buying power to drive down pharmaceutical costs, allowing government programs, health insurers and private businesses to join forces to negotiate against drugmakers. Under an executive order signed by Governor Gavin Newsom as one of his first acts hours after being sworn in, drug benefits for the about 13 ...

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