December, 2018

• 9 December

  Pininfarina turnaround unfinished story: Mahindra

  

  Bloomberg The revival of Pininfarina SpA, the iconic coach-builder famous for designing Ferrari sports cars, is ahead of schedule, though the turnaround is an “unfinished story,” said Anand Mahindra, chairman of the group that bought the Italian company three years ago. Pininfarina, founded in 1930 by Battista “Pinin” Farina, is boosting profit and winning orders for clients inside and outside ...

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• 9 December

  Uber files confidentially for IPO on heels of rival Lyft

  

  Bloomberg Uber Technologies Inc has joined rival Lyft Inc in filing for an initial public offering (IPO), according to a person familiar with the matter. Like Lyft, Uber this week submitted its IPO filing confidentially to the US Securities and Exchange Commission (SEC), said the person, who asked not to be identified because the matter was private. Unlike Lyft, the ...

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• 9 December

  Broadcom posts strong 2019 sales forecast

  

  Bloomberg Chipmaker Broadcom Inc gave a strong sales forecast for next year thanks to heavy spending by cloud providers. The company’s wireless business, a key Apple Inc supplier, performed better than expected in the quarter that ended on November 4. Chief Executive Officer Hock Tan suggested that was driven by demand for older iPhones, but also warned of a “downtick” ...

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• 9 December

  Blackstone nears deal for minority stake in GI Partners

  

  Bloomberg A Blackstone Group LP unit that buys stakes in alternative-asset managers is nearing a deal to make a minority investment in GI Partners, according to people familiar with the matter. The size of the stake that Blackstone Strategic Capital Holdings is in talks to acquire couldn’t immediately be learned. The transaction hasn’t been finalised and either side may decide ...

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• 9 December

  UK finance exports to EU could drop 59% post Brexit

  

  Bloomberg UK financial-services exports to the European Union could be 59 percent lower after Brexit, even if Prime Minister Theresa May secures a free-trade agreement, according to the Centre for European Reform. “Any arrangement that sees the UK leave the single market will inevitably lead to new barriers to services exports from the UK to the EU,” the think tank’s ...

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• 9 December

  Volvo charges up e-garbage trucks to get ahead of Tesla’s rig

  

  Bloomberg In a few months time, Swedish truck-making giant Volvo AB will deliver its first all-electric model. The battery-powered eight-wheeler will ply the streets of Germany’s northern port city of Hamburg, picking up garbage. While Chief Executive Officer Martin Lundstedt expects to go slow on the initial ramp-up, he sees the project as a harbinger for a rapid proliferation of ...

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• 9 December

  Paris returns to normal after ‘Yellow Vests’ protest

  

  Bloomberg The streets of Paris are returning to normal as crews remove debris after protests by a grassroots movement forced police to fire tear gas and water cannons just a week after extremely violent clashes led President Emmanuel Macron’s government to back down on fuel tax increases. Police arrested 1,700 people nationwide and held 1,200 in custody after containing several ...

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• 9 December

  Two killed in Togo protests before disputed elections

  

  Bloomberg At least two people were killed in Togo when police clashed with demonstrators during a banned nationwide protest, in an explosion of tension before disputed parliamentary elections later this month. Four policemen were also hurt, and authorities arrested 28 people in the capital, Lome, and Bafilo, 250 kilometres (150 miles) north of the city, the government said in a ...

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• 9 December

  May mulls announcement on ‘Brexit vote’

  

  Bloomberg Some of Theresa May’s aides and ministers expected her to announce on Monday she’s delaying Tuesday’s House of Commons vote on her Brexit deal because she’s planning to convince European Union leaders meeting in Brussels to relax the terms of the agreement, the Sunday Times reported. With the odds stacked against May in Parliament and EU ministers repeatedly saying ...

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• 9 December

  Nigerian oppn says VP candidate’s bank accounts frozen

  Bloomberg Nigeria’s main opposition People’s Democratic Party said the bank accounts of its vice presidential candidate had been frozen in an act of intimidation by the government ahead of February general elections. The accounts of Peter Obi, his wife, family members and their businesses had been blocked “by agencies” of President Muhammadu Buhari’s administration, the PDP said. “Since his nomination, ...

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