November, 2018

• 24 November

  Lodha Group founder is India’s richest property tycoon with $3.8bn wealth

  Bloomberg Mangal Prabhat Lodha, the founder of Lodha Group and a lawmaker representing India’s ruling Bharatiya Janata Party, has become the nation’s richest real estate developer after the company’s sales increased 22 percent. Lodha’s wealth is estimated at $3.8 billion, according to the GROHE Hurun India Real Estate Rich List. Lodha, who started the real estate business three decades ago ...

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• 24 November

  Farmers in Vietnam worried about ‘beanless’ coffee phenomenon, output

  

  Bloomberg Farmers in Vietnam are coming across a worrying phenomenon: Coffee fruits empty of beans. Several areas in the world’s biggest grower of robusta coffee have reaped fruits that have no beans inside or where beans are smaller than usual. The empty cherries are most common in Gia Lai province in the north, which normally provides about 15 percent of ...

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• 24 November

  ‘China’s export boom to the US to end in January’

  Bloomberg A recent surge in exports from China to the US is set to turn into a slump in January as tariffs imposed on Chinese goods rise, according to Nomura economists. In September, US President Donald Trump imposed a 10 percent tariff on $200 billion of imports from China and pledged to raise the duty to 25 percent at the ...

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• 24 November

  Apple defends iPhone app fees as court weighs consumer suit

  

  Bloomberg Simplicity is supposed to be a selling point for Apple Inc’s iPhone. It may be a problem at the US Supreme Court. The court will hear arguments on Monday on accusations that Apple is using its market dominance to jack up prices for iPhone apps. A ruling against Apple, letting a lawsuit go forward, could add to pressure the ...

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• 24 November

  Business insolvencies in Canada increase at fastest pace since 2012

  

  Bloomberg Insolvencies among Canadian corporations climbed 4.6 percent in the third quarter, the sharpest increase in at least six years, a sign higher borrowing costs may be taking a toll on businesses. Some 826 companies filed for insolvency in the three months through September, compared with 790 in the same period a year earlier, the Office of the Superintendent of ...

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• 24 November

  BT faces backlash over restructuring

  

  Bloomberg BT Group Plc’s restructuring is starting to bite, with workers accusing the British telecom company of betrayal as it cuts thousands of jobs and sweeps away layers of management. Chief Executive Officer Gavin Patterson began to overhaul the world’s oldest phone company in June, under pressure to revive profits and a moribund share price. The changes involve 13,000 layoffs ...

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• 24 November

  US firms evading tariffs by moving output abroad: UBS

  Bloomberg US companies are evading President Donald Trump’s goods tariffs by partly moving production abroad, shielding China for now from the effects of an escalating trade dispute, according to research by UBS Group AG. “If US companies move a stage of their manufacturing overseas (to a country other than China), the trade tax is avoided,” Paul Donovan, chief economist at ...

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• 24 November

  German economic growth slows to four-year low

  Bloomberg German economic growth was the weakest in almost four years in November as both services and manufacturing cooled. The composite Purchasing Managers’ Index (PMI) for Europe’s largest economy dropped to 52.2 in November from 53.4 last month, according to a flash reading released by IHS Markit. The result, below all estimates in a Bloomberg survey of economists, pushed the euro ...

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• 24 November

  London home prices ‘out of reach’ amid Brexit concerns

  

  Bloomberg Discounts on London homes are creeping out further from the center as prices remain out of reach for many people and uncertainty surrounding Brexit starts to damp demand for homes in the capital’s cheaper neighbourhoods. “Vendors in outer boroughs are catching up and becoming more realistic about pricing,” said Simon Rubinsohn, chief economist at the Royal Institution of Chartered ...

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• 24 November

  Venezuela GDP sinks 17% in 2017

  

  Bloomberg Preliminary figures compiled by Venezuela’s central bank indicate that the crisis-wracked nation’s economy contracted 16.6 percent in 2017, according to two people with direct knowledge of the estimates. For the first time since 2016, the bank is preparing a raft of macroeconomic indicators for International Monetary Fund (IMF) to avoid sanctions including a possible expulsion from lender. Bank technicians ...

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