November, 2018

• 10 November

  Wartsila set to build Kenyan solar plants

  

  Bloomberg Wartsila Oyj’s East African unit won two engineering, procurement and construction contracts to develop grid-connected solar firms in Kenya, each with a capacity of 40 megawatts. Construction is expected to begin next year, according to George Oywer, a business development ma-nager at Wartsila Eas- tern Africa Ltd. The East African nation, which has an electricity supply deficit, is boosting ...

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• 10 November

  BlackRock, CleanCapital buy US solar portfolio

  Bloomberg BlackRock Inc and CleanCapital LLC bought a 46.9-megawatt portfolio of US solar power from a unit of ATN International Inc. The 60 projects are in California, Massachusetts and New Jersey, CleanCapital said in a statement. ATN’s Chief Financial Officer Justin Benincasa said in an email that the purchase price was $64.3 million. Including assumed debt of $55.5 million and ...

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• 10 November

  Alibaba goes global to hit Singles’ Day record

  

  Bloomberg Alibaba Group Holding Ltd. is looking beyond borders to turn its annual Singles’ Day shopping celebration into a global phenomenon. This Sunday, the Chinese internet giant is including sales from Lazada, the online shopping mall it controls. Southeast Asia’ biggest web retailer is becoming a key part of Alibaba’s plan to fuel growth, on top of the company’s efforts ...

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• 10 November

  ‘Bharti Airtel’s ratings may be downgraded to junk’

  

  Bloomberg Bharti Airtel Ltd.’s rating has been placed on review for downgrade by Moody’s Investors Service on concern the cash flow generation at India’s second-biggest mobile phone carrier will remain weak. The Baa3 issuer and senior unsecured rating of the company has been placed on review for a cut, Moody’s said in a statement. The review also reflects Bharti Airtel’s ...

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• 10 November

  Streamcast weighs London IPO

  Bloomberg Streamcast Group, a firm whose technology enables streaming services and boosts networks in emerging markets, is considering an initial public offering as soon as next year, people familiar with the matter said. The company is aiming to list in London, though it’s also considered other venues, the people said, asking not to be identified because the deliberations are private. ...

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• 10 November

  Nike, LVMH praise China’s efforts to combat piracy

  

  Bloomberg Nike Inc. and LVMH, which have long struggled against knockoffs of their famous products, praised China’s efforts to fight intellectual property theft. US President Donald Trump has cited IP violations, including the counterfeiting of major brands, as justification for imposing tariffs on Chinese exports. But executives at the two companies were more charitable at the China International Import Expo ...

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• 10 November

  DowDuPont plastic unit vows growth despite pollution fear

  

  Bloomberg DowDuPont Inc. sought to reassure investors that its planned spinoff of one of the world’s biggest plastic makers will be unscathed by a groundswell of global concern about pollution. Jim Fitterling, who will lead the new company as chief executive officer, waved away worries that protests against plastic trash will weigh on the new stand-alone operation’s growth plans. He ...

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• 10 November

  Brexit batters British housing as RICS index hits worst in six years

  Bloomberg A key gauge of the UK housing market fell to the weakest since just after the financial crisis. The Royal Institution of Chartered Surveyors (RICS) said its index of prices fell to the lowest in six years in October, pointing to a modest drop in values. Uncertainty about the UK’s impending exit from the European Union and a lack ...

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• 10 November

  EU sees risks mounting in region’s economy

  

  Bloomberg Global trade tensions, Italy’s fiscal battles and US overheating pose risks to the euro-area economy, the European Commission warned as it lowered its forecast for the coming year. While the list of threats in the commission’s report aren’t a surprise, they come amid mounting signs of a persistent slowdown in the euro area. The European Central Bank has said ...

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• 10 November

  BMW urged to help finance diesel hardware upgrades

  

  Bloomberg BMW AG is under pressure to drop its opposition to funding hardware upgrades on some diesel vehicles as German Chancellor Angela Merkel’s government continues efforts to defuse a crisis that’s damaging the country’s reputation as an automotive leader. Transport Minister Andreas Scheuer had summoned executives from BMW and rivals Volkswagen AG and Daimler AG to a meeting in Berlin ...

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