December, 2018

• 17 December

  US stocks pare losses at start of Fed week; Treasuries gain

  

  Bloomberg The slide in US stocks slowed somewhat as investors weighed the impact of the Federal Reserve on growth in an economy already buffeted by trade, geopolitical tensions and a possible government shutdown. All major American equity benchmarks opened lower, before a tech rally pared some losses, as the Fed looked certain to raise rates after its policy meeting on ...

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• 17 December

  Goldman: China’s yuan trading likely to get more volatile

  

  Bloomberg China’s exchange rate is likely to get more volatile in time as the country pushes greater international use of the yuan, according to Goldman Sachs Group Inc. While the yuan-internationalisation campaign hit a setback as China tightened regulation of capital flows in the wake of a messy 2015 devaluation, there’s increasing pressure for policy makers to take up the ...

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• 17 December

  Ghosn’s pay probe spotlight shifts to Nissan, CEO Saikawa

  

  Bloomberg In the uproar over Carlos Ghosn’s alleged financial improprieties, the former chairman of Nissan Motor Co. has received most of the heat. Now, the scrutiny has expanded to the role of the Japanese automaker and its chief executive officer: Hiroto Saikawa. Tokyo prosecutors on December 10 indicted Nissan, as well as Ghosn, for allegedly misleading investors and the government ...

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• 17 December

  Indian firm Byju’s valued at $3.6bn after new funding

  

  Bloomberg Byju’s, an Indian education startup, more than doubled its valuation to $3.6 billion after a funding round led by Naspers Ventures and the Canada Pension Plan Investment Board. The company raised $540 million, which will be used to fuel an expansion into English-speaking countries, Bangalore-based Byju’s said in a statement. The new valuation puts it among the top five ...

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• 17 December

  India’s Vedanta rallies as tribunal orders its copper smelter restart

  

  Bloomberg Shares of billionaire Anil Agarwal’s Vedanta Ltd. surged in Mumbai after the country’s National Green Tribunal said the company could restart its copper smelter that accounts for nearly half of India’s output. Vedanta’s shares rose as much as 6.3 percent in Mumbai on Monday, paring losses to 37 percent this year, after the tribunal quashed the Tamil Nadu state ...

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• 17 December

  Hyundai, Kia sued over ‘engine defect’

  

  Bloomberg Hyundai Motor Co. and Kia Motors Corp. were sued by US drivers over an alleged defect that could cause certain engines to catch fire, adding pressure on the South Korean automakers being probed by US authorities. More than 350 consumer complaints were reported to the US National Highway Traffic Safety Administration (NHTSA) over non-collision fires in Hyundai and Kia ...

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• 17 December

  Jaguar Land Rover plans to cut jobs, says FT

  Bloomberg Jaguar Land Rover (JLR) will announce plans early next year to cut thousands of jobs as part of a turnaround strategy, the Financial Times reported, citing several unidentified people close to the company. The UK luxury carmaker, owned by India’s Tata Motors Ltd, will outline the measures in January as part of a three-year cost-cutting programme, the report said. ...

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• 17 December

  Takeda downgraded by Moody’s on debt

  

  Bloomberg Takeda Pharmaceutical Co.’s credit rating was cut by Moody’s Investors Service, which cited the drugmakers’ ballooning debt level following its $62 billion acquisition of Shire Plc. Moody’s cut Takeda’s credit rating three notches to Baa2 from A2, according to a statement. That’s still investment grade, and Moody’s said the outlook is stable based on expectations that Takeda will reduce ...

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• 17 December

  US greenhouse emissions on the rise after years of decline

  

  Bloomberg Greenhouse gas emissions from power plants, cars and other uses of energy in the US are on the rise again after several years of declines, according to new government data that defies the Trump administration’s argument for rolling back regulations to fight pollution. Energy-related carbon dioxide emissions — a category that includes electric power generation and transportation fuel use ...

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• 17 December

  US factory output unchanged in Nov

  

  Bloomberg US factory production was unchanged in November and the prior month’s reading was revised to a decline from a gain, a sign the industry may be taking a breather while still growing at a pace that supports economic growth. Factory output was unchanged after a 0.1 percent decrease that was revised from a 0.3 percent gain, Federal Reserve data ...

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