October, 2018

• 29 October

  500mn beneficiaries don’t have a clue to Modi’s healthcare plan

  

  Bloomberg The world’s largest healthcare program in India is running up against a challenge: many of its 500 million beneficiaries don’t have a clue about it, as they didn’t have to enroll for it. Prime Minister Narendra Modi’s solution is to tackle the problem at its roots. He is writing letters to 100 million families educating them about the benefits ...

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• 29 October

  IBM’s $33bn Red Hat takeover a game-changer for ‘cloud market’

  

  Bloomberg IBM’s $33 billion purchase of Red Hat Inc — the world’s second-largest technology deal ever — is aimed at catapulting the company into the ranks of the top cloud software competitors. The cash deal, IBM’s biggest by far, boosts the 107-year-old computer-services giant’s credentials overnight in the fast-growing and lucrative cloud market — and gives it much-needed potential for ...

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• 29 October

  Browder’s laundering complaint says Nokia received $97 million

  

  Bloomberg Nokia Oyj has been identified as the biggest individual recipient of potentially illicit funds relating to money laundering allegations against Nordea Bank Abp, according to investor Bill Browder. As much as $97.2 million that may have been laundered ended up in Nokia’s accounts at Nordea, according to a document focussing on potentially illicit transactions in Finland and sent by ...

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• 29 October

  Startup Quid raises $38mn in venture funding

  

  Bloomberg Quid Inc, a startup that helps companies analyse large volumes of text from news, social media and the web, raised $37.5 million in venture funding, the company plans to announce on Monday. The deal was led by REV Ventures, the investment arm of LexisNexis owner RELX Group Plc, which contributed about $10 million. Other investors include Julian Roberson, the ...

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• 29 October

  Mercedes-Benz under probe over recall-notice practices

  Bloomberg Mercedes-Benz USA is under investigation by US safety regulators who say the luxury-auto maker may be taking too long to send safety recall notices to car owners and inform the government. The National Highway Traffic Safety Administration told the unit of Germany’s Daimler AG that it found numerous instances in which owners of recalled cars weren’t notified within the ...

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• 29 October

  Tesla profit blowout reverses much of Musk’s damage to stock

  

  Bloomberg Profit secured. Tesla Inc blew away expectations with just the third quarter of positive earnings in its history, bolstering Elon Musk’s bid to make selling electric cars a financially sustainable business. The profit and cash that Tesla generated sent its shares surging to levels last seen in mid-August, when the chief executive officer was still in the midst of ...

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• 29 October

  Trade deficit with China shows America’s strength

  

  US President Donald Trump has made closing America’s trade deficit with China a top priority. The problem is, it’s growing instead. For Trump, that’s probably more proof that his tariff-heavy, get-tough approach to China is the correct strategy. For economists, it’s not such a big deal. The US economy is roaring, and roaring economies tend to import more. There’s another ...

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• 29 October

  This $30bn firm is breaking free

  

  Roper Technologies Inc.’s stock slide now looks like unfair punishment. The $30 billion company, which makes software for construction companies and legal firms as well as meter-reading tools, had slumped 11 percent in the month leading up to the release of its third-quarter results on October 26. That matched the decline in the S&P 500 Industrials index, which has been ...

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• 29 October

  When $57 billion a year just isn’t really enough

  

  Amundi SA, already Europe’s biggest fund manager, is on course to meet its self-imposed target of swelling assets under management by a net 50 billion euros ($57 billion) per year. Its cost-to-income ratio is best-in-class. And yet its shares dropped 6 percent on October 26 to their lowest level since March 2017. While asset growth decelerated in the third quarter ...

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• 29 October

  How Draghi can do Italy a massive favour

  Mario Draghi has a fine line to walk at last week’s press conference after the meeting of the European Central Bank’s (ECB) governing council. Bond investors will be watching closely to see how the ECB president responds to questions about Italy, and if there’s anything to be gleaned about whether future policy might be good or bad for the country’s ...

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