November, 2018

• 28 November

  Go-Jek to enter Singapore soon in challenge to Grab

  

  Bloomberg Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan. Go-Jek’s beta app will be available to a limited number of consumers before expanding it to a wider population as testing progresses, said the people, who asked not ...

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• 28 November

  New Zealand bans China’s Huawei from 5G roll-out

  

  Bloomberg New Zealand has followed Australia in banning China’s Huawei Technologies Co. from supplying fifth-generation wireless equipment to the nation’s telecommunications operators, citing national security concerns. News of the ban came via Spark New Zealand, which said its intention to use Huawei 5G equipment had been blocked by the Government Communications Security Bureau. The GCSB told Spark that, if implemented, ...

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• 28 November

  Ghosn denies ‘he passed trading losses to Nissan’

  

  Bloomberg Carlos Ghosn, the embattled former chairman of Nissan Motor Co., denied reports that he passed on personal trading losses to the carmaker, the first comment from the executive who is detained on numerous allegations of financial misdeeds. Ghosn acknowledged consulting Nissan about the collateral related to the contract, but didn’t transfer the losses to the automaker, said Motonari Otsuru, ...

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• 28 November

  Porsche sees demand in China car sales

  

  Bloomberg China’s love for fast cars is helping Porsche AG see unprecedented demand even while industry sales fall for a fifth straight month. “We will have a very good year in China with sales increase over 10 percent,” Chief Executive Officer Oliver Blume told Bloomberg Television from the Los Angeles auto show. There’s been a very big increase especially for ...

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• 28 November

  Hong Kong firm raises $105mn for expansion

  Bloomberg A Hong Kong startup called Oriente raised $105 million as it expands online lending operations in Southeast Asia and develops new products and technologies for markets like Indonesia and the Philippines. Oriente was founded in 2017 by Skype Inc. co-founder Geoffrey Prentice, former Lu.com Chief Operating Officer Hubert Tai, and Lawrence Chu, founder of BlackPine Group. It provides loans, ...

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• 28 November

  Google workers sign letter seeking end to China project

  

  Bloomberg A group of Google employees has signed a public letter calling on the company to abandon its plans for a Chinese search product that censors results. Project Dragonfly, as the initiative is known, would enable state surveillance at a time when the Chinese government is expanding controls over the population, according to the letter signed initially by at least ...

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• 28 November

  EU unveils plan to become ‘climate neutral’ by 2050

  

  Bloomberg The European Union unveiled its long-term vision on combating climate change in a push for more ambitious action on the environment just days after US President Donald Trump rejected his government’s warning on the economic costs of global warming. The 28-nation bloc, responsible for 10 percent of global greenhouse-gas emissions, set a 2050 perspective to help give direction to ...

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• 28 November

  Microsoft beats Apple to become world’s most valuable firm

  

  Bloomberg Microsoft Corp surpassed Apple Inc to become the world’s most valuable publicly traded company. All it took was a $300 billion rout. After briefly claiming the top spot, Microsoft shares rose 0.6 percent, pushing the company’s market value to $828.1 billion at the close. That exceeded by more than $1 billion the value of Apple, which has tumbled this ...

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• 28 November

  Trump threatens to cut GM’s subsidies

  

  Bloomberg President Donald Trump’s threat to cut subsidies to General Motors Co in retaliation for the automaker’s plan to close US factories was met with immediate skepticism. While it’s true that GM, like other US automakers, has received substantial federal assistance over the years — including a nearly $50 billion bailout in 2009 — experts cast doubt on the idea ...

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• 28 November

  UK house prices increase despite Brexit concerns

  

  Bloomberg London’s decade-long housing boom may have been cooled by Brexit, but the property market in the rest of the UK is largely shrugging it off. While home prices in the capital have risen only 1.7 percent since the June 2016 vote, those in Birmingham, Britain’s second-biggest city, have jumped almost 15 percent, according to Hometrack. Manchester is close behind ...

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