December, 2018

• 23 December

  Indonesian palm oil producer explores sale

  

  Bloomberg Owners of PT Triputra Agro Persada, including Singapore’s sovereign wealth fund GIC Pte, are exploring a possible sale of the Indonesian palm oil producer, people with knowledge of the matter said. Shareholders including Northstar Group have asked banks to pitch for a role advising the firm on options that also include an initial public offering, said the people, who ...

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• 23 December

  Tencent, peers rally on China resuming game approvals

  

  Bloomberg Shares in Tencent Holdings Ltd. jumped 4.5 percent after Chinese media reported that regulators have resumed approving games, signaling a potential end to a hiatus that’s chilled the world’s biggest gaming industry. Tencent and peers from South Korea to Japan spiked after the official China Securities Journal reported that regulators had reviewed and passed an initial batch of online ...

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• 23 December

  PG&E roiled by regulator’s breakup threat

  

  Bloomberg After years of wildfires linked to power lines, a deadly explosion and accusations of falsified safety records, California utility owner PG&E Corp is facing a deterioration of trust among state leaders. The California Public Utilities Commission has begun a formal process to evaluate whether PG&E’s Pacific Gas and Electric utility should be split into separate electric and gas companies, ...

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• 23 December

  T-Mobile delays video service launch to 2019

  

  Bloomberg T-Mobile US Inc is delaying the debut of its much-anticipated video service after the project proved more complex than expected, according to people familiar with the situation. The move would push back the rollout until 2019, though plans could still change, according to the people, who asked not to be identified because the situation is private. Chief Executive Officer ...

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• 23 December

  Facebook faces fresh privacy lawsuit

  

  Bloomberg Facebook Inc faces growing pressure over its privacy protections as the District of Columbia sued over its handling of user data, exemplified by the privacy breach in which personal information of millions of Americans was transferred to Cambridge Analytica, a political consulting firm hired by President Donald Trump’s 2016 campaign. The suit alleges Facebook violated the district’s Consumer Protection ...

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• 23 December

  Bang & Olufsen loses value over lower sales forecast

  Bloomberg Bang & Olufsen A/S lost more than a quarter of its market value after the Danish maker of luxury TVs and stereos warned sales won’t grow this year because of distribution snafus. The shares sank as much as 28 percent, shrinking the company’s value to 4.4 billion Danish kroner ($674 million) and heaping pressure on Chief Executive Officer Henrik ...

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• 23 December

  Drug giants turning back to the lab

  

  Bloomberg Two of the world’s biggest drugmakers agreed to create a giant seller of over-the-counter medicines, in yet another sign that pharmaceutical giants are slowly turning away from the grocery store and back towards the laboratory. GlaxoSmithKline Plc and Pfizer Inc said that they plan to combine their sprawling consumer-health businesses into a single company selling everything from Advil pain ...

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• 23 December

  Death toll in Indonesia tsunami soars past 220

  

  Bloomberg The death toll from a tsunami triggered by suspected volcanic activity near the Sunda Strait in Indonesia has topped 200 as rescuers continue to search for dozens missing in the tourist region. More than 220 people, mostly tourists, are confirmed dead, at least 843 injured and dozens are missing in the two provinces hit by waves late on Saturday, ...

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• 23 December

  US shutdown may last past Christmas

  

  Bloomberg The US government shutdown has entered a second day. It’s likely to last at least until late in the week, and maybe into January, as the White House and Democrats remain at an impasse over President Donald Trump’s demand for billions of dollars in border wall funding. Senate Majority Leader Mitch McConnell said the Senate would adjourn for regular ...

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• 23 December

  ‘Theresa May hopes to seal Brexit deal’

  

  Bloomberg UK Prime Minister Theresa May’s allies are plotting to keep her in Downing Street for at least another two years, the Sunday Times reported, citing a senior cabinet minister it didn’t name. The plans being floated would see May hang on to power until the autumn of 2021 when she would hand over to a new Conservative leader, according ...

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