November, 2018

• 5 November

  Jack Ma labels trade war ‘most stupid thing’ as tensions boil

  

  Bloomberg Billionaire Alibaba co-founder Jack Ma called fighting over trade senseless and decried once again a widening conflict between the US and China. China’s richest person — who warned just last month that a trade war could last two decades — argued it was pointless to target goods because the Asian nation was on its way to becoming a major ...

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• 5 November

  China to set up new stock-trading venue for high-tech firms

  

  Bloomberg China will set up a new trading venue in Shanghai that will make it easier for high-tech companies to access funding, as President Xi Jinping vows more opening measures to boost the world’s second-largest economy. The Shanghai Stock Exchange will also start a pilot programme on a registration-based system of initial public offerings, Xi said at the opening ceremony ...

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• 5 November

  India’s TCS faces US jury over ‘why it fires so many Americans’

  

  Bloomberg India’s IT outsourcing giant Tata Consultancy Services Ltd. needs to offer a good explanation for why engineers hired at its American outposts are 13 times as likely to be fired if they’re not South Asian. The company was expected to go on trial on Monday in California over racial discrimination claims by American workers who lost their jobs at ...

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• 5 November

  Tencent to check all gamers’ IDs by 2019 in unprecedented move

  

  Bloomberg Tencent Holdings Ltd. will expand its age-verification system to encompass its entire games line-up, an unprecedented undertaking in response to growing criticism it encourages addiction among youths. The Chinese social media and entertainment titan intends to check all gamers’ identities against police databases by 2019, extending a procedure it pioneered for the mobile phenomenon Honour of Kings. It will ...

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• 5 November

  Runaway train ‘derailed’ by BHP in Australia

  Bloomberg BHP Billiton Ltd., the world’s largest mining company, halted all train operations in Western Australia on Monday after it was forced to derail a runaway train in the Pilbara. The driver was inspecting an issue with the train when the locomotive ran away. While rail operations are suspended, mining operations continue, it said. The Australian Transport Safety Bureau said ...

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• 5 November

  European VCs seek to raise more money in fewer funds

  

  Bloomberg A range of European venture capital firms are seeking to raise more money in fewer funds as they ride a global trend towards larger investment vehicles. For five prominent firms in the region, sizes are expected to range from $100 million to $350 million each. Idinvest Partners SA, one of France’s largest VC firms, is targeting a $350 million ...

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• 5 November

  AMD battered with huge share declines

  

  Bloomberg Advanced Micro Devices Inc ad-ded its name to a growing list of semiconductor companies that were battered with huge share declines after reporting disappointing results and forecasts. The stock slumped 20 percent. AMD’s results came on a day when investors were already pressing the sell button on a sector that many now fear is signaling a wider technology industry ...

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• 5 November

  UK services growth slumps as Brexit hurts business optimism

  

  Bloomberg The UK economy kicked off the fourth quarter on a disappointing note as Brexit concerns pushed growth in services to a seven-month low. IHS Markit’s index for the sector fell more than economists expected last month, recording the lowest reading since March when the nation was battered with bad weather. New business growth and optimism over the outlook were ...

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• 5 November

  Abbott gets FDA approval for much-awaited diabetes app

  

  Bloomberg Abbott Laboratories won US approval for its FreeStyle LibreLink diabetes-monitoring app, giving users a way to keep track of their glucose levels from their iPhones. The app works with Abbott’s FreeStyle Libre glucose sensors, which have rapidly become some of the top-selling medical devices in the US. It is likely to be a welcome addition for millions of customers ...

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• 5 November

  Trafigura’s bet on Nyrstar keeps getting uglier

  

  Bloomberg For nearly a decade, Trafigura Group Chairman Claude Dauphin coveted a zinc deal with Europe’s top smelter. The commodities trader finally got across the threshold in 2015, months after its co-founder’s sudden death. Just a few years later, it’s become one of Trafigura’s biggest headaches. Nyrstar NV shares have plu-nged to record lows as falling zinc prices squeeze profit ...

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