January, 2019

• 12 January

  UK’s nuclear future fades as Hitachi exit follows Toshiba

  

  Bloomberg Britain’s plan for a nuclear revival was thrown into disarray after the second Japanese company in as many months seemed to pull the plug on a new plant. The UK government has put atomic energy at the heart of its effort to attract 100 billion pounds ($130 billion) of investment to upgrade its aging reactors it needs to keep ...

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• 12 January

  India oil demand growth rebounds from 4-year low

  

  Bloomberg India’s oil demand growth in 2018 rebounded from the slowest pace in four years as the country recovered from the shock of a cash ban and the roll out of a national sales tax. The nation’s consumption of petroleum products rose 4.1 percent to about 210 million tonnes, the Oil Ministry’s Petroleum Planning and Analysis Cell said. Growth improved ...

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• 12 January

  China plans subsidy-free solar, wind pilot projects

  

  Bloomberg China will start building pilot wind and solar power projects that won’t receive national government payments as it pushes to improve the competitiveness of renewable energy and rein in subsidy bills. Shares of solar manufacturers surged in New York and Hong Kong. Power prices from these pilot projects will be the same or lower than from coal-fired plants, the ...

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• 12 January

  Infosys raises sales forecast over ‘healthy pipeline’ of deals

  

  Bloomberg Infosys Ltd, Asia’s second-largest software exporter by value, raised its sales forecast for the year ending March citing a “healthy pipeline” of orders. Bangalore, India-based Infosys predicts revenue will expand as much as 9 percent from an earlier target of 8 percent. Chief Executive Officer Salil Parekh expects a revival in the company’s financial services business, and its ability ...

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• 12 January

  Wanda sales drop on asset disposals

  

  Bloomberg Dalian Wanda Group Co.’s sales declined for a third year as Chinese billionaire Wang Jianlin’s conglomerate continues to divest assets under government scrutiny. Revenue fell 5.7 percent to 214.3 billion yuan ($31.7 billion) in 2018, the once-acquisitive group said in an emailed statement. The statement didn’t say if the company was profitable or loss-making last year. Total assets dropped ...

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• 12 January

  Ghosn deputy Munoz resigns from Nissan

  

  Bloomberg One of Nissan Motor Co’s most senior executives and a close confidant to its jailed chairman, Carlos Ghosn, has resigned from the company one week after taking a leave of absence. Jose Munoz, Nissan’s chief performance officer, resigned effective immediately, according to a post on his LinkedIn page and a company spokesman. Munoz, 53, had reported directly to Chief ...

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• 12 January

  Geely denies report it cut Daimler stake

  Bloomberg Zhejiang Geely Holding Group denied selling any of its 9.7 percent stake in Daimler AG, following a Bloomberg report that the holding had been cut in half. Geely, in a statement on its website, said that as a long-term investor in Daimler and its largest single shareholder, it has no plans to cut its holding in Daimler and that ...

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• 12 January

  TCS misses estimates on rupee and employee costs

  

  Bloomberg Tata Consultancy Services Ltd narrowly missed analyst estimates as quarterly profit was hit by a volatile currency and unexpected rise in employee costs. Asia’s largest software outsourcing provider reported a 24 percent increase in net income to 81.1 billion rupees ($1.2 billion) in the three months ended in December, compared with the 81.9 billion-rupee average of estimates. Sales came ...

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• 12 January

  Japan Olympic chief charged in French corruption probe

  

  Bloomberg Japanese Olympic Committee President Tsunekazu Takeda was charged as part of a French corruption probe into the awarding of the 2020 Olympic Games to Tokyo, a person familiar with the matter said. Takeda, however, insisted that he hadn’t been indicted. The charges against Takeda, who led Tokyo’s successful bid, were filed on December 10, said the person, asking not ...

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• 12 January

  UK firms make plea to cut a deal as Brexit vote nears

  

  Bloomberg Some of Britain’s largest and most storied manufacturers are making a last-ditch plea to lawmakers to avoid a disorderly retreat from the European Union with stark warnings of production grinding to a halt and political inertia hurting their business. Ultra-luxury carmaker Rolls-Royce said its factory in southern England risks being paralysed in the event of a hard Brexit if ...

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