October, 2018

• 21 October

  Russia to offer Exxon new oil, gas projects

  Bloomberg Russia has started discussions with Exxon Mobil Corp. over possible new oil and gas projects, potentially creating a dilemma as the US government mulls more sanctions against the country. The consultations could expand existing cooperation between the US giant and state-run Rosneft PJSC, Russian government officials said, asking not to be named as the information isn’t public yet. The ...

  Read More »
• 21 October

  WTO showdown looks harder to avoid as US, China, EU spar

  

  Bloomberg The US, China and the European Union moved a few steps closer to a major clash at the World Trade Organisation (WTO) that risks testing the global trade referee’s neutrality and President Donald Trump’s patience for an institution he already hates. In a volley of filings, the EU, China and the US this week escalated disputes over new US ...

  Read More »
• 21 October

  Xi vows ‘unwavering’ support for private sector after China rout

  

  Bloomberg Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector, the latest response from Beijing to concern over the outlook for the economy. “Any words and practices that negate and weaken the private economy are wrong,” Xi said in a letter to private entrepreneurs, Xinhua News Agency reported on Sunday. “Supporting the development of private enterprises is ...

  Read More »
• 21 October

  Singapore, EU sign free trade, investment pacts

  

  Bloomberg Singapore and the European Union (EU) signed free-trade and investment protection agreements in Brussels in a bid to improve bilateral business ties amid rising global trade conflicts. Singapore and the EU will remove tariffs, reduce technical barriers, and provide better opportunities in services and government procurement under the deals, the Singapore government said in a statement. The city-state will ...

  Read More »
• 21 October

  SoftBank lines up $9bn loan for Vision Fund

  

  Bloomberg SoftBank Group Corp. has lined up commitments for a loan of about $9 billion for its massive Vision Fund, provided by banks including arrangers of its Japanese wireless business’s initial public offering, people with knowledge of the matter said. The IPO’s top underwriters, which include Nomura Holdings Inc. and Goldman Sachs Group Inc., are finalising terms of the loan ...

  Read More »
• 21 October

  Australian jobless rate falls to lowest in 6 years

  Bloomberg Australia’s jobless rate fell to the lowest in more than six years in September as fewer people sought work, suggesting the drop is unlikely to alter the Reserve Bank’s policy outlook. While unemployment fell from 5.3 percent to 5 percent — the level estimated by the central bank to signal full employment — the workforce participation rate declined to ...

  Read More »
• 21 October

  Japan’s exports fall in wake of natural disasters

  

  Bloomberg Japan’s exports unexpectedly fell in September — the first drop in almost two years — as natural disasters disrupted economic activity, while higher energy prices continued to feed gains in imports. While one-off events make it difficult to assess the impact of the US-China trade dispute, Japanese export growth has been slowing this year following double-digit expansion in 2017. ...

  Read More »
• 21 October

  Google to start charging phone makers for Europe app store

  

  Bloomberg Google will start charging smartphone makers that want to install its app store and services for devices sold in Europe, changes it says it must make to comply with a European Union antitrust order in July that brought a record 4.3 billion euro ($5 billion) fine. Starting from October 29, new phone models that install the Play store and ...

  Read More »
• 21 October

  Europe’s most stable economy says it is time to share wealth

  Bloomberg The Czech Republic must distribute its growing wealth more widely, and even a cooler economy won’t stop higher social expenditure and investment, according to the country’s finance chief. The richest former Soviet satellite is relaxing traditional spending controls that have underpinned one of Europe’s sturdiest budgets. Just five years after austerity exacerbated a record-long recession, Alena Schillerova — the ...

  Read More »
• 21 October

  CVS-Aetna deal cleared

  

  Bloomberg CVS Health Corp. and Aetna Inc received conditional approval to proceed with their proposed $68 billion merger, one of the largest in a series of recent deals that stand to transform the US health-care business. The combination would create a giant with a hand in insurance, prescription-drug benefits and drugstores across the US. By bringing those businesses under one ...

  Read More »