December, 2018

• 18 December

  Huawei says blacklisting it will only hurt industry

  

  Bloomberg Huawei Technologies’s rotating chairman, speaking publicly for the first time since the shock arrest of its chief financial officer, warned that blacklisting the Chinese company without proof will only hurt the industry and snarl the advent of future wireless technologies worldwide. The company took swipes at the US and its allies on Tuesday during its first press event since ...

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• 18 December

  Japan’s 2019 budget to top 100 trillion yen

  

  Bloomberg Japan’s budget for the fiscal year starting in April 2019 will top 100 trillion yen ($890 billion) for the first time, highlighting the government’s struggle to curb spending in the developed world’s most indebted nation. The budget will increase 3.8 percent to about 101.5 trillion yen, according to a draft budget document obtained by Bloomberg News. Almost a third ...

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• 18 December

  ‘China to face bigger slowdown next year’

  Bloomberg China is staring at a bigger-than-expected slowdown next year as credit shrinks, said an analyst who made her name warning about the dangers of the nation’s credit binge. Total credit in the country, including lending to companies, has “absolutely collapsed” in 2018, according to Charlene Chu, a senior partner at Autonomous Research in Hong Kong. The estimate is a ...

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• 18 December

  Saikawa to meet alliance amid tensions

  

  Bloomberg Hiroto Saikawa, the Nissan CEO who’s been thrust into global prominence since the arrest of Carlos Ghosn, is getting his first chance to explain the Japanese carmaker’s corporate-governance challenges to its alliance partners face-to-face. The chief executive officer is travelling to Amsterdam for a meeting starting from Tuesday of Nissan Motor Co., Renault SA and Mitsubishi Motors Corp., according ...

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• 18 December

  India’s Ola to invest $100mn in scooter startup

  Bloomberg Ola, India’s dominant ride-hailing startup, is investing $100 million in scooter startup Vogo as part of a deal that will let its users access the two-wheeled devices. The financing, which will be used by Vogo to add 100,000 scooters, is part of a fundraising round that also included Matrix Partners India and Stellaris Venture Partners. “This infusion will give ...

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• 18 December

  One-cent gold lures Indians in bid to boost demand

  

  Bloomberg Indians are buying gold for as little as 1 cent as retailers offer online sales in bite-sized portions to prop up shrinking demand in the world’s second-biggest consumer. Demand for gold is falling, partly as a result of government measures, higher local prices and the metal’s fading appeal among more youthful customers. That’s forcing jewellers to adapt online purchases ...

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• 18 December

  GE sees risks in 2019 as power business marks ‘ground zero’

  

  Bloomberg General Electric Co is set to close out one of its worst years since the financial crisis, and 2019 may be another precarious one. The challenges are many and over the next few months, new Chief Executive Larry Culp will have to revamp GE’s power business, sort out liquidity problems arising from cash flow shortages and soaring financial liabilities, ...

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• 18 December

  Google to invest over $1bn in New York expansion

  Bloomberg Google will invest more than $1 billion to expand its New York City presence, the search giant said in a blog post. The Alphabet Inc division said it had reached lease agreements at 315 and 345 Hudson St. and signed a letter of intent at 550 Washington St. to make up the new 1.7 million-square-foot (158,000-square-meter) campus, to be ...

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• 18 December

  EU backs tighter carbon caps for cars

  

  Bloomberg European Union negotiators reached agreement on tighter caps on carbon dioxide from cars in a bid to spur the development of clean vehicles. Representatives of EU governments and the European Parliament fixed a 37.5 percent CO2-reduction target for 2030 compared with the 2021 limit. The deal in Brussels marks a compromise after the 28-nation Parliament in early October demanded ...

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• 18 December

  Oracle expects strong sales in cloud transition

  

  Bloomberg Oracle Corp’s shares rose on a strong sales forecast, signaling the world’s second-largest software maker expects greater customer demand in its transition to cloud-based computing. Revenue will increase 2 percent to 4 percent in the current quarter, holding currency exchange rates constant, with higher growth through the second half of the fiscal year, Chief Executive Officer Safra Catz said ...

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