September, 2018

• 8 September

  Growth in tight oil shakes up futures markets, hedging needs

  Bloomberg The vibrations of the shale boom are now shaking the futures market. A visible decline in open interest of West Texas Intermediate crude futures contracts for delivery five or more years in the future is due to the growth of tight oil fields and the shift in producers’ need to hedge oil so far out in the future, according ...

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• 8 September

  Ride-hailing giant Grab aims to double its revenue in 2019

  

  Bloomberg Singapore’s Grab outlined ambitious fundraising plans and predicted that sales will double next year, adding to evidence that Southeast Asia’s most valuable startup is expanding well beyond its roots as a ride-haling app while intensifying a rivalry with Indonesia’s Go-Jek. Revenue will double to $2 billion in 2019 as it integrates the acquisition of Uber Technologies Inc.’s regional business ...

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• 8 September

  India’s Reliance shaking off past decade’s slumber

  

  Bloomberg Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade. At close of trading this week, the company’s shares had surged 135 percent since it launched telecom services in 2016, nearly four times the advance in the S&P BSE Sensex, making ...

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• 8 September

  S’pore to monitor risks of cybersecurity breaches

  Bloomberg Singapore will continue monitoring risks of cybersecurity breaches and data hacks as those threats won’t go away, a senior government official said. Risks need to be managed but won’t prevent the government from building the city state into a technology-advanced one under its “Smart Nation” plan, Janil Puthucheary, senior minister of state for communications and information, said at Bloomberg’s ...

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• 8 September

  Thai carrier True slides on $3bn legal spat

  

  Bloomberg True Corp. slid the most in about two years after a tribunal said it must pay more than 94 billion baht ($3 billion) in a breach of contract case dating back to 2005, an order the firm said it will dispute. The China Mobile Ltd.-backed carrier said in a filing this case isn’t final and it intends to take ...

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• 8 September

  Toyota is betting big on hybrid cars, just ask its battery maker

  

  Bloomberg For evidence of just how big Toyota Motor Corp.’s bet is that hybrid cars will dominate new-energy vehicles until at least the end of the next decade, look no further than its battery supplier. Primearth EV Energy Co., despite the name, doesn’t make batteries for the pure electric vehicles that are emerging as a newer rival to gasoline-electric hybrids, ...

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• 8 September

  Trade unions open to back new referendum on ‘Brexit’

  

  Bloomberg Britain’s trade unions will demand that a second referendum on Brexit be kept on the table as the campaign to give the public a final say on Prime Minister Theresa May’s divorce deal gathers pace. The call will be made in an agreed statement by the Trades Union Congress umbrella group on Sunday, according to three people familiar with ...

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• 8 September

  T-Mobile’s Sprint deal gets tailwind from ‘Chinese M&A’

  

  Bloomberg A potential megadeal between Chinese wireless carriers could give a boost to two companies half a world away: T-Mobile US Inc. and Sprint Corp. China United Network Communications Group Co. is said to be exploring a merger with China Telecommunications Corp., a transaction that would unite the country’s second- and third-largest carriers. The Chinese deal would be part of ...

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• 8 September

  US workers win bigger pay gains by being productive

  

  Bloomberg US workers may be finally getting a pay raise — and perhaps more importantly, they’re earning it by becoming more efficient. Average hourly earnings for private workers increased 2.9 percent in August from a year earlier, the most since the recession ended in mid-2009, the Labor Department said. The gains were broad-based, ranging from manufacturing to retail. The fatter ...

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• 8 September

  VW keeps options open for luxury-car IPO

  

  Bloomberg Volkswagen AG Chief Financial Officer Frank Witter was asked this week whether the world’s largest carmaker would be open to selling shares in the luxury-car unit that includes Porsche and Lamborghini. He didn’t say no to the option, which could potentially unlock billions of dollars in value for Volkswagen investors. “It is a legitimate question, without a doubt,” Witter ...

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