December, 2018

• 25 December

  Nissan’s Greg Kelly granted bail after month in Tokyo jail

  

  Bloomberg Greg Kelly, the Nissan Motor Co. aide arrested along with former Chairman Carlos Ghosn, was granted bail on Tuesday, making way for his potential release after spending more than a month in jail. The Tokyo District Court set Kelly’s bail at 70 million yen ($635,000), according to the Tokyo prosecutors’ office. He was arrested on November 19 and was ...

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• 25 December

  Indonesia tsunami death toll tops 400

  

  Bloomberg The death toll from a tsunami along Indonesia’s Sunda Strait exceeded 400 as rescuers scour through the wreckage of hundreds of hotels and houses flattened by the deadly wave. At least 16,000 people have been displaced and about 1,500 were injured after the tsunami struck the Indonesian provinces Lampung and Banten late on December 22, according to the National ...

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• 25 December

  China vows more support for private sector buffeted by slowdown in 2019

  

  Bloomberg Chinese policy makers will step up support for the struggling private sector in 2019, with the state council announcing a series of measures for the firms, which have been hit hard by the slowing economy and trade tensions. The central bank will improve policies on targeted reserve-requirement ratio cuts and inclusive finance to further support private companies, according to ...

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• 25 December

  Japan to prevent foreign workers drifting to cities

  

  Bloomberg Japanese PM Shinzo Abe’s cabinet approved a policy document on Tuesday, seeking to deflect criticism of a law that will open the door to foreign guest workers from April. Under the new framework, the number of workers coming from abroad will be limited to 345,150 over five years, according to a document distributed to reporters in advance of the ...

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• 25 December

  World steps up to study India’s cash ban, PM looks away

  

  Bloomberg Prime Minister Narendra Modi’s administration hasn’t assessed the impact of one of history’s most sweeping changes in currency policy. “No Madam,” was the Indian junior finance minister’s reply to a lawmaker’s question in parliament on December 14 on whether the government had studied the aftereffects of the move in November 2016 to invalidate almost all of the country’s currency ...

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• 25 December

  Fines handed out by British finance watchdog falls 75%

  

  Bloomberg The total value of fines handed out by the UK’s Financial Conduct Authority fell by almost 75 percent in 2018, after a bumper year in which it had secured penalties against the likes of Deutsche Bank AG, Merrill Lynch International and Rio Tinto Plc. The regulator handed out 60.5 million pounds ($76.6 million) in fines in 2018, more than ...

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• 25 December

  Acorda rises 9.7 pct after getting nod for Parkinson’s therapy

  

  Bloomberg Acorda Therapeutics Inc rose the most since October after the US Food and Drug Administration approved its therapy for Parkinson’s disease. The drug, which will be sold under the name Inbrija, is an inhaled version of levodopa, an existing therapy that treats the effects of the neurodegenerative disorder. Acorda declined to say how it plans to price the product, ...

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• 25 December

  Alcoa reduces more aluminum output in Quebec

  

  Bloomberg Alcoa Corp will further curtail production at a Canadian smelter as the biggest US aluminum producer faces a shortage of workers amid a dispute with unionised workers and the impact of US tariffs on shipments of the metal. The Pittsburgh-based company said it will curtail half of the one operating potline’s 138,000 metric tonne capacity at its majority-owned Aluminerie ...

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• 25 December

  Factories lead Canada’s fastest economic growth in 5 months

  Bloomberg Canadian gross domestic product grew at the fastest pace in five months on a lift from manufacturing, while oil made an unexpected contribution as prices began to fall for Alberta crude. Output grew 0.3 percent in October, Statistics Canada said from Ottawa, faster than the median forecast in a Bloomberg economist survey of 0.2 percent. Factory production expanded 0.7 ...

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• 25 December

  Shutdown grinds on with Democrats venting

  

  Bloomberg As the partial US government shutdown enters a third day, lawmakers have left Washington for the Christmas holiday with no sign of urgency to resolve the fight over President Donald Trump’s demand for border wall money. Unlike shutdowns of the past, Congress and the White House aren’t racing to reopen the government. Offices of congressional leaders who are responsible ...

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