November, 2018

• 17 November

  Pence-Xi showdown at Apec shows US-China divide widens

  

  Bloomberg US Vice President Mike Pence traded sharp barbs with Chinese leader Xi Jinping in back-to-back speeches at a regional summit, showing that neither country appears to be giving ground in an escalating trade war. Xi received applause on Saturday when he told the Asia-Pacific Economic Cooperation (Apec) summit in Papua New Guinea that implementing tariffs and breaking up supply ...

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• 17 November

  California fires: PG&E crisis deepens with $12bn market wipeout

  

  Bloomberg The implications are unsettling: 15 minutes before a fire was reported among the trees north of Sacramento — the spark that would explode into the deadliest blaze in California history — a PG&E power line in the area went offline. A week later, at least 56 people have been found dead — and PG&E Corp is facing its gravest ...

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• 17 November

  Uber revenue slows as Q3 loss hits $1.1bn

  

  Bloomberg Uber’s sales are dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food delivery business. Revenue growth of 38 percent in the third quarter was almost half of what the growth rate was six months earlier, when the company was negotiating a $9.3 billion investment led by SoftBank Group Corp. That’s ...

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• 17 November

  European car sales slump in October

  

  Bloomberg European carmakers had another difficult month in October with car registrations slumping once more, putting to the test a fourth-quarter bounce-back forecast by Volkswagen AG and Daimler AG. Deliveries of new passenger cars slid 7.4 percent in the European Union and European Free Trade Association in October from a year earlier, compounding a 23 percent drop during September, according ...

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• 17 November

  After GE, investors are watching these debt-laden companies

  

  Bloomberg The good times are coming to an end in the corporate debt market, and the turmoil in General Electric Co (GE) credit is a sign that things can get much worse. That’s what a growing chorus of money managers are saying. About half of the $5 trillion market for investment-grade bonds now resides in the lowest tier of ratings. Many ...

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• 17 November

  May takes control of Brexit as ministers defy her plans

  

  Bloomberg Theresa May rolled the dice with a dramatic reshuffle of her ministerial team as she battles to cling onto her job and stop her own party tearing up her Brexit deal. The prime minister reduced the power of her critics and promoted allies to key positions as she took personal charge of the final days of the UK’s divorce ...

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• 17 November

  WikiLeaks’ Assange charged, prosecutors reveal in filing goof

  

  Bloomberg WikiLeaks founder Julian Assange has been charged by federal prosecutors in Virginia in a move that suggests the US government is determined to pursue his extradition, according to an inadvertent filing in an unrelated court case. It’s unclear what Assange, who’s been living in the Ecuadorean Embassy in London since 2012, has been charged with. The existence of the ...

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• 17 November

  Czech PM vows to never resign over fraud probe

  

  Bloomberg The Czech Republic’s billionaire prime minister rejected intensifying calls for him step down as he tries to save his hard-won coalition from collapsing amid public outcry over an investigation into whether he committed fraud. The fraud probe has imperiled the political career of Andrej Babis since his upstart ANO party defeated its traditional mainstream rivals in elections a year ...

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• 17 November

  Modi heads to Maldives to reset ties

  

  Bloomberg Prime Minister Narendra Modi will make his first-ever visit to the Maldives for the swearing-in of its new president, signalling a shift in the island nation towards India and away from China. The visit — the first by an Indian head of state since 2011 — is expected to reset strained ties with the Maldives as Ibrahim Mohamed Solih, ...

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• 17 November

  Merkel enters final act firm on refugee stance

  

  Bloomberg German Chancellor Angela Merkel called for tolerance in a city that’s been a flashpoint of anti-immigrant unrest, laying down a political marker that may lead to conflict during the final phase of her chancellorship. As far-right protesters organised a “Merkel Must Go” march, the chancellor faced hostile questions on a visit to the eastern city of Chemnitz. Meanwhile, her ...

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