September, 2018

• 12 September

  China’s NIO tests investor appetite for electric cars

  

  Bloomberg The global excitement about electric cars faces a test in New York on Wednesday. China’s NIO Inc., which seeks to take on the likes of Tesla Inc., starts trading on the New York stock exchange after raising about $1 billion selling American depositary shares at $6.26 apiece. The electric-car maker, backed by Tencent Holdings Ltd., priced the stock near ...

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• 12 September

  Japan’s Pioneer to get $538 million bailout from Baring

  

  Bloomberg Pioneer Corp., once among the world’s hottest names in technology before succumbing to debt and failed expansions, agreed to a bailout from Baring Private Equity. Baring Private Equity will buy as much as $538 million of stock in the Tokyo-based company, according to a filing. But its shares fell 9.3 percent to their lowest in nine years after the ...

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• 12 September

  Tokyo prosecutors indict 2nd firm in ‘data scandal’

  Bloomberg Mitsubishi Materials Corp. became the second Japanese firm to be indicted by Tokyo prosecutors for falsifying product data, in a scandal that has rocked the nation’s prized reputation for manufacturing prowess. Three units of the Tokyo-based company — Mitsubishi Aluminum Co., Diamet Corp. and Mitsubishi Cable Industries Ltd. — were indicted on suspicion of breaching Japan’s unfair competition law, ...

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• 12 September

  Indonesian govt wants tighter FX rules on exporters to help rupiah

  

  Bloomberg Indonesian exporters must keep their earnings in the country to support efforts by the government to rein in the current-account deficit and shield the rupiah, Finance Minister Sri Mulyani Indrawati said. While legislation protects the free movement of capital, authorities want to tighten some rules on exporters amid a rout in the currency, Indrawati said. “In a situation in ...

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• 12 September

  Free holidays, rail passes as Hong Kong developers push sales

  

  Bloomberg Developers in Hong Kong are offering perks such as free rail tickets and early move-in dates in a further sign one of the world’s hottest property markets may finally be cooling. In a bid to shift apartments, CK Asset Holdings Ltd. is giving away high-speed rail holiday and travel packages, including accommodation, worth $35,700 for people who agree to ...

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• 12 September

  Trump tariffs spark industry campaign to defuse trade war

  

  Bloomberg Trade associations representing farmers, retailers and manufacturers are joining forces in a new multi-million-dollar campaign to oppose President Donald Trump’s tariffs, in the latest attempt by US business to stop an escalating trade war. Groups lobbying for months to persuade the president that tariffs are the wrong approach have been largely ignored, as Trump slapped duties on billions of ...

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• 12 September

  EU’s Juncker rejects Britain bid to stay in parts of single market

  

  Bloomberg European Commission President Jean-Claude Juncker rejected a key plank of the UK’s post-Brexit blueprint, saying that Britain can’t stay in “parts” of the bloc’s single market. Still, he said he would work “day and night” for a divorce deal, boosting the pound. The pound erased losses as investors focused on the positive tone of Juncker’s comments. But his message ...

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• 12 September

  Google, Facebook dealt blow in copyright fight

  

  Bloomberg Tech platforms and internet activists protested the outcome of a European Parliament vote on Wednesday to back copyright rules that would help video, music and other rights holders seek compensation for use of their content online. Alphabet Inc.’s Google, Facebook Inc. and other tech firms may now be forced to negotiate licenses for content that appears on their sites ...

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• 12 September

  Farmers in Hurricane Florence’s path race to cushion blow

  

  Bloomberg North Carolina corn farmer Darren Armstrong is racing to harvest as much as he can before potentially the worst storm in 64 years hits the state. It’s already one of the busiest times of the year for US growers as they reap what they sowed in the spring. Now, Armstrong and scores of other crop, poultry and livestock farmers ...

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• 12 September

  How emerging-markets contagion loop may play

  

  Slowing global trade is evidence of how emerging-market (EM) stresses are being transmitted to advanced economies. The real concern of contagion remains financial linkages, though. Since 2009, non-resident gross flows into EM financial assets — loans, debt and equity securities — have averaged around $1 trillion annually, although the figure has been volatile. Total outstanding exposure, which remains opaque, may be ...

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