November, 2018

• 21 November

  Airbus names Infineon executive to replace CFO

  Bloomberg Airbus SE named Infineon Technologies AG’s Dominik Asam to replace Chief Financial Officer Harald Wilhelm when he steps down in April, as the European planemaker moves closer to cementing its executive lineup following a major reshuffle. The company also named Michael Schollhorn to become chief operating officer of the commercial aircraft unit, another key role now held by retiring ...

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• 21 November

  FAA, United slam Newark Airport over airlines fees

  

  Bloomberg A federal regulator slammed the Port Authority of New York and New Jersey, saying it doesn’t have a reasonable or transparent method for justifying the fees it charges airlines to use Newark Liberty International Airport, one of three major airports serving the New York metropolitan area. The Federal Aviation Administration said that the Port Authority has routinely diverted airport ...

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• 21 November

  Lowe’s to exit Mexico operations

  Bloomberg Lowe’s Cos. said it will exit its Mexico retail operations after the home-improvement chain reported sluggish same-store sales in the third quarter and cut its fiscal-year guidance again. Same-store sales rose 1.5 percent overall and 2 percent in the US, trailing analysts’ estimates. The company also said it will also divest Alacrity Renovation Services and Iris Smart Home. This ...

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• 21 November

  Nissan-Renault feud comes to surface post Ghosn’s arrest

  

  Bloomberg Tensions between Nissan Motor Co. and Renault SA over the future of their car-making partnership have exploded into the open as the downfall of Chairman Carlos Ghosn roils the automotive industry and his top lieutenant, Hiroto Saikawa, moves to consolidate power in his absence. The two companies, which are connected via a complex structure of cross-shareholdings and joint manufacturing, ...

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• 21 November

  SoftBank joins $1bn funding of Indonesia startup Tokopedia

  

  Bloomberg PT Tokopedia, Indonesia’s largest online marketplace, is raising $1 billion from existing investors including SoftBank, people familiar with the matter said. The e-commerce operator is valued at about $7 billion after the round, the people said, asking not to be identified as the details are private. That would make it the most valuable startup in Indonesia, according to the ...

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• 21 November

  Slowing South Korean export growth raises red flag on global trade

  

  Bloomberg A drop in South Korean exports to China and another weak figure for semiconductor shipments add to concerns over the strength of global trade amid the economic conflict between Washington and Beijing. Preliminary trade data for the first 20 days of November showed a 4.3 percent slip in exports to China, the first fall outside holiday-affected months since late ...

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• 21 November

  Singapore’s Sea reports wider loss

  

  Bloomberg Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported a wider third-quarter loss on rising investments at e-commerce unit Shopee. Net loss increased to $218 million in the three months ended on September 30 from $132.8 million a year earlier, the company said. Total revenue rose to $204.9 million from $94.1 million. Sea has been struggling to keep ...

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• 21 November

  Beijing to judge residents based on behaviour by 2020

  

  Bloomberg China’s plan to judge each of its 1.3 billion people based on their social behaviour is moving a step closer to reality, with Beijing set to adopt a lifelong points program by 2021 that assigns personalised ratings for each resident. The capital city will pool data from several departments to reward and punish some 22 million citizens based on ...

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• 21 November

  Google’s takeover of Deepmind Health sparks privacy concerns

  

  Bloomberg Three years ago, artificial intelligence company DeepMind embarked on a landmark effort to transform health care in the UK. Now plans by owner Alphabet Inc to wrap the partnership into its Google search engine business are tripping alarm bells about privacy. Data protection advocates cried foul when the company reversed course on a pledge to keep DeepMind Health, which ...

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• 21 November

  PG&E climbs as lawmaker plans wildfire relief bill

  

  Bloomberg PG&E Corp rose after a California lawmaker requested a bill to help the state’s largest utility absorb liabilities from this year’s fatal wildfires. Kellie Smith, an adviser to assemblyman Chris Holden, said she is drafting legislation that could be introduced as early as December 3. It may serve as a framework for lawmakers to consider relief for PG&E from ...

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