November, 2018

• 27 November

  As GM shutters US plants, slump in China is new hurdle

  

  Bloomberg General Motors Co.’s attempt to rejuvenate its business once again is made more difficult by a dramatic slowdown in the world’s largest vehicle market: China. During previous shakeups, including its bankruptcy and recovery almost a decade ago, the US carmaker could rely on steadily growing demand in China that helped it weather cooling sales at home. Not this time ...

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• 27 November

  Buy now to profit from India vote volatility in 2019, says FundsIndia

  

  Bloomberg Now is the time for equity investors to bet on India’s election results, even though the polls aren’t likely till May, according to FundsIndia. Investing five to six months before the elections in 2009 and 2014 earned an average three to six percent more than the Indian benchmark return in the five-year period to the next vote, said Vidya ...

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• 27 November

  Hong Kong home sales hit 12-year low in Nov

  

  Bloomberg Hong Kong’s housing market is suffering its worst declines since 2016 — by multiple measures. New-home sales this month are on track to be the lowest by volume since January or February of that year, according to Midland Realty data. Meanwhile, used-home prices have fallen for eight weeks, the longest losing streak since 2016, according to the Centa-City Leading ...

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• 27 November

  China realty queen makes comeback with $7bn transfer

  

  Bloomberg Wu Yajun’s transfer of a $7 billion stake to her daughter caps the property developer’s comeback after a 2012 divorce robbed her of the title of China’s richest woman. It also marks the distance that billionaire Wu has come since quitting an “iron rice bowl” job in 1988. Her property empire Longfor Group Holding Ltd. has almost doubled in ...

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• 27 November

  May’s Brexit deal could hurt UK-US trade pact: Trump

  

  Bloomberg US President Donald Trump dropped a rhetorical bomb on UK Prime Minister Theresa May’s efforts to get a Brexit agreement through parliament, warning the deal she reached with the EU could jeopardise Britain’s ability to strike a trade pact with the US. “Right now as the deal stands she may not — they may not — be able to ...

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• 27 November

  Trump says 10% tariffs could be placed on iPhones

  

  Bloomberg Apple Inc, which has lost a fifth of its value in a tech market rout since October, is poi-sed for another setback after US President Donald Trump suggested that 10 percent tariffs could be placed on mobile phones, like the iPhone, and laptops made in China. The company already is facing reports of suppliers cutting forecasts, signalling the new ...

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• 27 November

  Google accused of abusing ‘location-tracking’

  

  Bloomberg Google runs the risk of hefty fines from the European Union’s (EU) beefed-up data-protection watchdogs after consumer groups accused the search-engine giant of abusing tools that track users’ location. Seven European consumer organisations on Tuesday said they would file complaints with their national regulators, who now have powers to levy penalties of as much as 4 percent of a ...

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• 27 November

  Uber gets $491k fine over 2016 cyberattack

  

  Bloomberg Uber Technologies Inc, which is already facing a range of legal and regulatory headaches in London, got another on Tuesday after it was fined 385,000 pounds ($491,000) over a cyberattack that compromised the data of millions of customers and tens of thousands of drivers. The Information Commissioner’s Office said that Uber the personal details of about 2.7 million UK ...

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• 27 November

  GM plans job cuts, factory closings by 2019-end

  

  Bloomberg General Motors Co will cut more than 14,000 salaried staff and factory workers and close seven factories worldwide by the end of next year, part of a sweeping realignment to prepare for a future of electric and self-driving vehicles. Four factories in the US and one in Canada could be shuttered by the end of 2019 if the automaker ...

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• 27 November

  Jobs for youth can add $51bn to UK economy

  Bloomberg The UK economy could get a 40 billion-pound ($51 billion) boost every year by creating more jobs for young people. That would be the benefit of reducing the percentage of the young not in employment, education or training to a level similar to Germany, a report by PwC said on Tuesday. The UK ranks 19th among the 35 Organization ...

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