December, 2018

• 5 December

  Eskom mulls moving debt to state

  

  Bloomberg Eskom Holdings SOC Ltd, the cash-strapped South African power utility, wants the government to take on about 100 billion rand ($7.2 billion) of its debt as part of a rescue plan that will enable it to continue operating. The company’s executives outlined the proposal to move the debt onto the government’s balance sheet to bond investors in London this ...

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• 5 December

  China targets more wind, solar power onto energy grid

  Bloomberg China set three-year targets for allowing more wind and solar power onto the power grid after the rapid addition of panels and windmills forced some electricity distributors to partly block that energy from flowing into their systems. The curtailment rate for wind power should be held to less than 10 percent next year and to about 5 percent by ...

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• 5 December

  Germany may boost offshore wind capacity

  Bloomberg Chancellor Angela Merkel’s government is bowing to industry pressure to boost Germany’s offshore wind capacity, already among the biggest in Europe. The government will assess how to boost offshore capacity to 20 gigawatts by 2030 from a planned 15 gigawatts, according to details in an energy law passed by the parliament. The administration in Berlin has steadfastly blocked pressure ...

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• 5 December

  Takeda gets $62bn Shire deal after its long battle

  

  Bloomberg Christophe Weber, the chief executive officer of Takeda Pharmaceutical Co., has faced a string of challenges in his $62 billion pursuit of UK drugmaker Shire Plc. The Japanese company’s shares have tumbled, dissident shareholders complained and Shire repeatedly rebuffed his bids before agreeing to a deal. Now the Frenchman has scored a big victory with Takeda saying the deal ...

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• 5 December

  China preparing to buy US LNG, soybeans again

  

  Bloomberg Chinese officials have begun preparing to restart imports of US soybeans and liquefied natural gas, the first sign confirming the claims of President Donald Trump and the White House that China had agreed to start buying some US products “immediately”. Chinese officials have been told to take necessary steps for the purchases, according to two officials with knowledge of ...

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• 5 December

  Jaguar key after Tata Motors’ 2nd rating cut

  

  Bloomberg The next year and a half will be key for Tata Motors Ltd. as scrutiny of its debt metrics builds amid expectations the performance of its subsidiary Jaguar Land Rover Automotive Plc will underwhelm. S&P Global Ratings cut Tata Motors’s long-term rating deeper into junk, the second downgrade for the Indian automaker in five months, citing headwinds for Jaguar ...

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• 5 December

  Hong Kong office rents 60% higher than in New York

  

  Bloomberg Hong Kong’s Central area has taken the prize for the world’s most expensive premium office rents for a fourth year running, according to global real estate consultant JLL. Occupancy costs — including rent, taxes and service charges — are 60 percent higher than New York’s Midtown and almost 75 percent more costly than London’s West End, JLL’s Premium Office ...

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• 5 December

  Low maintains innocence over new fund misuse charges

  

  Bloomberg Malaysian financier Low Taek Jho has maintained his innocence over new charges of money laundering as the government steps up legal action against those who had allegedly embezzled from state investment fund 1MDB. “Low will not submit to any jurisdiction where guilt has been predetermined by politics and there is no independent legal process,” according to a statement issued ...

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• 5 December

  VW may use Ford’s plants for US expansion, says CEO

  

  Bloomberg Volkswagen AG, trying to win over German car-bashing President Donald Trump at the White House, dangled ideas to expand US auto production and said it may tap Ford Motor Co to help build its cars in America. Chief Executive Officer Herbert Diess said VW has considered adding a second plant in the US, even though the company isn’t fully ...

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• 5 December

  Copper deals to get elusive after Teck’s $1.2bn stake sale

  

  Bloomberg The global hunt for high-quality, low-risk copper assets that are ready for construction is about to get tougher after Teck Resources Ltd sells a stake in one of the few deals available. Sumitomo Corp and Sumitomo Metal Mining Co agreed to pay $1.2 billion for 30 percent of the Compañia Minera Teck Quebrada Blanca SA project in nor-thern Chile. ...

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