December, 2018

• 29 December

  China to expand drug-buying plan to more cities

  Bloomberg China is pushing ahead with a campaign to slash generic drug prices that has wiped out $46 billion in value from pharmaceutical companies since it was launched earlier this month. The government will expand a central procurement programme to more regions and more drugs, Vice Premier Sun Chunlan said at a meeting of the National People’s Congress standing committee, ...

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• 29 December

  Philippines realty prices decline in Q3

  Bloomberg Philippine home prices declined in the third quarter from the prior three months, reversing a short-lived rebound as interest rates increased. Housing values fell 0.6 percent quarter-on-quarter, according to Bangko Sentral ng Pilipinas. Prices rose 0.8 percent gain in the second quarter following a 0.9 percent decline in the first three months of the year. The central bank raised ...

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• 29 December

  WeLab to delay $500mn Hong Kong IPO

  Bloomberg WeLab Holdings Ltd., which filed an application in July to list on the Hong Kong stock exchange, will postpone its $500 million initial public offering, according to people with knowledge of the matter. The online lender asked bankers to suspend preparation citing current market volatility, said the people, who asked not to be identified as the information is private. ...

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• 29 December

  China’s rival to GPS technology looking to go global

  

  Bloomberg China’s alternative to the American-owned GPS extended its coverage beyond the Asia-Pacific region with a goal of becoming a dominating technology in the future, spurring gains in shares of related companies. The service, called Beidou, is now available in some parts of Europe and Africa within China’s Belt and Road initiative, spokesman Ran Chengqi told reporters in Beijing. The ...

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• 29 December

  Caps on power plant mercury emissions too costly, says EPA

  

  Bloomberg The Trump administration is proposing that limits on mercury pollution from power plants are too co- stly to justify and no longer “appropriate and necessary,” a finding that could make it difficult to impose more stringent curbs in the future. For now, at least, the Environmental Protection Agency isn’t seeking to rescind the 2012 standards, responding to a clamour ...

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• 29 December

  US consumer confidence falls to 5-month low

  Bloomberg US consumer confidence slumped in December to the lowest since July as a gauge of labour market expectations fell by the most in 41 years, the latest sign Americans are growing less optimistic as stock markets gyrate and the expansion moderates. The confidence index decreased to 128.1 from 136.4, according to a report from the New York-based Conference Board. ...

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• 29 December

  Qualcomm gets trial in case that threatens its dominance

  

  Bloomberg Two years after the US Federal Trade Commission sued Qualcomm Inc, unleashing a series of existential challenges to the company’s business model, the chipmaker is about to get its chance to square the record. Lawyers for the regulatory agency and the company are set to begin presenting arguments on January 4 in a 10-day non-jury trial over claims that ...

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• 29 December

  UK plans to double charge on disposable plastic bags

  

  Bloomberg The UK is planning to double the charge on disposable plastic bags issued by the country’s largest retailers to 10 pence (about 13 cents) as part of a drive to protect the environment. The fee will also be extended to all small shops, according to the plans published by the Department for Environment, Food and Rural Affairs. The proposals ...

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• 29 December

  Battered Apple poised to lead FAANGs in 2019

  Bloomberg Move over, Netflix: Apple Inc will be the best performing FAANG stock in 2019, according to veteran analyst Gene Munster. Apple will be rewarded in the coming year as investors focus more on revenue and earnings growth rather than iPhone unit sales, said Loup Ventures’ Munster, who has covered the company for more than a decade. The Cupertino, California-based ...

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• 29 December

  Brazilian rental car demand profiting from ride sharing

  

  Bloomberg Brazil’s top rental-car companies say a cultural shift towards sharing automobiles rather than owning them will bolster demand as growth quickens in Latin America’s largest economy. The three main providers of rental cars in Brazil have far outpaced the Ibovespa’s 11 percent advance in 2018. Cia de Locacao das Americas is up 85 percent, Localiza Rent a Car SA ...

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