December, 2018

• 10 December

  BP, Shell to face new shareholder challenge over climate in 2019

  

  Bloomberg The activists who rankled Royal Dutch Shell Plc by filing climate-change resolutions for three straight years now are targeting other oil majors. A Dutch group that accumulates shares in oil companies in order to press them over greenhouse gas emissions, has filed another resolution against Shell for 2019. It also filed its first resolution against BP Plc and may ...

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• 10 December

  Investors press oil sector to resist methane rollback

  Bloomberg Exxon Mobil Corp, Chevron Corp and BP Plc are being pressed by investors with $1.9 trillion in assets under management to resist the Trump administration’s efforts to roll back Obama-era methane rules. The Interfaith Center on Corporate Responsibility sent a letter to 30 oil and natural gas explorers on behalf of 61 investors urging the companies to publicly declare ...

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• 10 December

  Ghosn, Nissan indicted in Japan over pay scandal

  

  Bloomberg Carlos Ghosn and Nissan Motor Co. were indicted in Japan for understating the high-flying car executive’s income by $43 million, as Tokyo prosecutors pushed ahead with the criminal investigation that has shaken the global auto industry. Former Nissan representative director Greg Kelly was also indicted, three weeks after he and Ghosn were arrested in Japan and accused of financial ...

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• 10 December

  Jio may top India’s mobile operator market by 2021

  

  Bloomberg Reliance Jio Infocomm Ltd., the mobile operator backed by India’s richest man Mukesh Ambani, could be No. 1 in the market in revenue terms by 2021 as it adds more subscribers, said Sanford C. Bernstein & Co. analysts Chris Lane and Samuel Chen. Industry-leading rivals Bharti Airtel Ltd. and Vodafone Idea Ltd. lack the “stomach” to battle Reliance Industries ...

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• 10 December

  Canada violated ‘pact’ in Huawei arrest: China

  

  Bloomberg China accused Canada of violating a bilateral agreement by failing to speedily inform its consulate of the arrest of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou, as tensions between the nations continue to escalate. “According to the China-Canada consular agreement, if a Chinese citizen is arrested by the Canadian government, the Canadian government should immediately notify the Chinese ...

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• 10 December

  Vivendi eyes stake in Global Mediacom

  Bloomberg Vivendi SA, the French conglomerate backed by billionaire Vincent Bollore, is competing with Argyle Street Management to invest in the television operations of Indonesia’s largest media company PT Global Mediacom, people with knowledge of the matter said. Vivendi’s broadcasting arm Canal+ is in early talks to spend more than $400 million buying stakes in two units of Global Mediacom, ...

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• 10 December

  China music firm poised to spin billionaires

  

  Bloomberg A lawyer, a computer scientist and China’s third-richest person are poised to create one of the year’s biggest hits in the music industry. Co-presidents Xie Zhenyu and Xie Guomin are on the brink of becoming billionaires as Tencent Music Entertainment Group prepares a public stock offering in New York that may value the company at $24.5 billion. Zhenyu’s fortune ...

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• 10 December

  Alibaba weighs joining Megvii’s $500mn round

  Bloomberg Megvii, the owner of facial recognition technology company Face++, is in discussions with Alibaba Group Holding Ltd. and other investors as it seeks to raise at least $500 million of new funding, according to people familiar with the matter. The Beijing-based company, which already counts Alibaba as a backer, is talking with Chinese private equity investors and is considering ...

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• 10 December

  Interserve confirms talks with lenders on deleveraging plan

  

  Bloomberg Interserve Plc, which builds and maintains structures for the British government, is in discussions with its bankers about ways to cut its debt after revenue declined in the UK construction unit. It is working on a deleveraging plan that aims to cut its net debt to about 1.5 times earnings before interest, taxes, depreciation and amortisation, the company said. ...

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• 10 December

  Fiat to build Jeep at idled Detroit facility

  

  Bloomberg Fiat Chrysler Automobiles NV is planning to build a new Jeep at an idled engine plant in Detroit, beefing up capacity to build higher-margin vehicles and meet surging US demand for sport utility vehicles (SUV). The factory will assemble a new three-row version of the Grand Cherokee SUV, according to a person familiar with the matter, who asked not ...

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