December, 2018

• 8 December

  N-power key to carbon cut goal, says Xcel CEO

  Bloomberg Xcel Energy Inc Chief Executive Officer Ben Fowke said keeping nuclear power plants open is key for the utility to meet its goal to slash greenhouse gases. The company, which pledged to cut carbon dioxide emissions 80 percent by 2030 and 100 percent by 2050, operates two reactors in Minnesota that will become increasingly vital as wind and solar ...

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• 8 December

  Huawei CFO arrest stokes China fury amid key US trade talks

  

  Bloomberg Huawei Technologies’ chief financial officer was arrested in Canada over potential violations of US sanctions on Iran, provoking outrage from China and complicating thorny trade negotiations just as they enter a critical juncture. China’s embassy in Canada demanded the US and its neighbour “rectify wrongdoings” and free Wanzhou Meng, who is also deputy chairwoman and the daughter of Huawei ...

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• 8 December

  Grab sees boost after Thai election

  

  Bloomberg Grab hopes Thailand’s upcoming general election will help revive the conversation about legalising ride sharing in the country. Talks about reforming the law can be put back on the table once an elected government is in place, Tarin Thaniyavarn, the head of Grab in Thailand, said. The military government in power since a coup in 2014 has tentatively scheduled ...

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• 8 December

  Nissan to recall cars on inspection failures

  

  Bloomberg Nissan Motor Co. is planning to recall 150,000 vehicles in Japan after uncovering more failures in its final vehicle inspection process, dealing another blow to the carmaker whose former Chairman Carlos Ghosn is detained over alleged financial crimes. The new problems include inappropriate tests of steering and brakes, the carmaker said in a statement. Nissan has been under scrutiny ...

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• 8 December

  China Copper imports slump for first time as economy slows, trade stalls

  

  Bloomberg China’s monthly copper imports dropped for the first time this year as demand wanes due to slowing growth in the world’s biggest consumer of commodities amid a simmering trade row with the US. Oft cited as a market indicator for economic health, the metal has been under pressure since the summer, threatening to unwind a three-year rally. Goldman Sachs ...

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• 8 December

  Tencent Music executive accused of defrauding investor

  

  Bloomberg A Chinese investor accused the co-president of Tencent Music Entertainment Group, which could fetch as much as $1.23 billion in an IPO this month, of using lies and threats to get him to sell his stake in a company that eventually became part of China’s largest music-streaming service. The investor made the claim in an arbitration proceeding in China ...

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• 8 December

  Volkswagen slashes costs by $6.8bn to fund Tesla pursuit

  

  Bloomberg Volkswagen AG is accelerating a push to lower costs and lift profits at its biggest car brand to add financial muscle as the world’s largest automaker pursues a $50 billion technology shift to counter Tesla Inc. To improve profitability after lagging behind mass-market peers for years, the VW nameplate will trim management ranks, slash factory costs and eliminate a ...

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• 8 December

  Trade drags down euro-area economy

  

  Bloomberg Falling exports and a slowdown in spending and investment caused euro-area growth to lose more of its luster in the third quarter, with recent numbers casting doubts over the economy’s potential to rebound. Net trade was the biggest drag on the economy in the period, when growth was the weakest in almost five years. Since then, reports from the ...

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• 8 December

  France fines appliance makers for collusion

  

  Bloomberg Whirlpool Corp and five other appliance manufacturers were fined a total of 189 million euros ($214 million) to settle a six-year French price-fixing investigation — the country’s largest antitrust penalty levied this year. Whirlpool must pay 102 million euros to cover its own penalty and one handed to Indesit, which it owns, according to a statement from France’s competition ...

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• 8 December

  Akorn CEO steps down after Fresenius fallout

  

  Bloomberg Akorn Inc’s CEO stepped down after the Delaware Supreme Court ruled that a rapid downturn in its business was grounds for Fresenius SE to walk away from a $4.3 billion buyout of the generic drugmaker. Officials of Akorn said that Chief Executive Raj Rai was retiring now that its dispute with the German pharma company had been ended by ...

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