September, 2018

• 18 September

  In IL&FS, India rues its own belt-and-road debt fiasco

  

  It was as a newspaper-office intern in New Delhi in 1992 that I witnessed the birth of India’s homegrown belt-and-road initiative. The program was midwifed by an up-and-coming lender that few had then heard of: Infrastructure Leasing & Financial Services Ltd. (IL&FS). It wasn’t called belt-and-road, a term that would gain currency much later as a catchphrase for China’s opaquely ...

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• 18 September

  Emerging markets hear the mighty dollar roar

  

  The first stage of this emerging market currency crisis was all about how the problems of individual nations were spilling over into contagion — but without dollar strength as a factor. No longer. A nine-year high for US average hourly earnings in last week’s non-farm payroll report, combined with the strongest reading for the manufacturing PMI index since 2004, have ...

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• 18 September

  HNA’s container sale a bet on Trump’s trade wars

  

  When a company decides to get out of a market by selling off its assets, is that a good sign for the business in question, or a bad one? The answer will weigh on potential buyers of Seaco Srl, the fourth-largest lessor of shipping containers. HNA Group Co., which owns the company via its control of Bohai Capital Holding Co., ...

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• 18 September

  Samsung back in favour as Moon kick-starts ‘economy’

  

  Bloomberg In a meeting that was unthinkable 19 months ago, South Korea’s president will this week introduce the head of the country’s biggest conglomerate to North Korean leader Kim Jong-un in Pyongyang. The parley caps a remarkable period for Lee Jae-yong, vice chairman of Samsung Electronics Co., who since the start of 2017 has been arrested, tried and jailed before ...

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• 18 September

  India signals trade war truce as US ramps up ‘tariffs’

  

  Bloomberg India again deferred the imposition of retaliatory tariffs on some US imports, signaling its readiness to find a solution to avert a trade war in contrast to the path China has taken. The tariff plan has been deferred to November 2, according to a notification from the finance ministry. New Delhi had previously planned to levy higher tariffs effective ...

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• 18 September

  WuXi AppTec files for $1bn-plus HK offering

  Bloomberg WuXi AppTec Co., the Chinese contract medical researcher, has submitted an application for a Hong Kong share sale, according to people with knowledge of the matter. The offering could raise more than $1 billion, the people said, asking not to be identified because the information is private. The Shanghai-listed shares of WuXi AppTec have nearly quadrupled since they began ...

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• 18 September

  China’s Huatai, Bluestar mull UK share sales

  

  Bloomberg Huatai Securities Co., China’s third-largest brokerage by market value, and Bluestar Adisseo Co. are among Chinese companies considering UK listings as authorities prepare a trading link between the two countries, people familiar with the matter said. Huatai, which has a market capitalisation of about $16 billion, has asked investment banks to pitch for a role on a potential sale ...

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• 18 September

  Trump tariffs won’t force China’s hand, says state-run newspaper

  Bloomberg It would be a “serious mistake” for US President Donald Trump to try to force China to make concessions in the face of high tariffs, according to an editorial in China’s state-run English-language newspaper. “Underestimating China’s resolve to safeguard its legitimate interests, the United States will find its protectionist measures backfiring to harm its own industries and the American ...

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• 18 September

  Renault-Nissan teams with Google, lets Android into dash

  

  Bloomberg Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. are about to do what many carmakers have been trying to avoid: let Google into the dashboard. The French-Japanese auto alliance announced a technology partnership that will make its vehicles among the first to use Google’s Android operating system in the dashboard, letting Alphabet Inc.’s software control mapping and navigation, ...

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• 18 September

  Qualcomm CEO sees chance of Apple settlement this year

  

  Bloomberg One of the biggest legal battles in the technology industry may be entering its final stages. Qualcomm Inc. Chief Executive Officer Steve Mollenkopf said a bitter standoff between the chip maker and Apple Inc. is entering a period when both sides have an increasing incentive to settle. In coming months, the companies will be forced to make their case ...

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