September, 2018

• 5 September

  Ex-billionaire Shivinder sues brother as empire collapses

  

  Bloomberg The unraveling of one of India’s most storied business empires has caused a rupture in its founding family, with one of the Singh brothers — synonymous with each other for decades — saying he has sued the other for alleged “oppression and mismanagement” of their companies. In a statement, Shivinder Singh said he filed a case with India’s National ...

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• 5 September

  Toyota recalls 1mn Prius, C-HR hybrids due to risk of fire

  

  Bloomberg Toyota Motor Corp. is recalling more than a million of its Prius and C-HR compact crossover vehicles globally due to the risk of fire. Of the 1.03 million affected vehicles, 554,000 will be called back in Japan and 192,000 in the US, according to Jean-Yves Jault, a company spokesman. There has been one reported case of a vehicle emitting ...

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• 5 September

  S’pore land frenzy slows after property curbs

  

  Bloomberg The bidding frenzy for Singapore land has slowed to a trickle, going by the results of the first auctions since property curbs were tightened. Just three bids were submitted for the Jalan Jurong Kechil site in the island’s northwest, compared to 24 received in April last year for the nearby Toh Tuck Road plot. Only five offers were tendered ...

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• 5 September

  Zijin to buy Nevsun for $1.41bn cash

  

  Bloomberg Zijin Mining Group Co., a Chinese gold and base metals producer, agreed to buy Nevsun Resources Ltd. for $1.41 billion in cash, just days after winning a tender for a Serbian copper miner. The Fujian-based company will acquire all of the issued and outstanding shares of Nevsun for C$6 per share in cash, they said. The cash consideration represents ...

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• 5 September

  Singapore-Kuala Lumpur bullet train link delayed as Malaysia PM reviews

  Bloomberg A bullet train linking Singapore and Kuala Lumpur won’t be a reality for at least a decade as Malaysia’s Prime Minister Mahathir Mohamad seeks to pare his nation’s debt and review projects signed off by his predecessor Najib Razak. The neighbours agreed to delay kicking off work on the 350-kilometre (218 miles), multibillion dollar link until the end of ...

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• 5 September

  Typhoon damage may shut Kansai Airport for a week

  

  Bloomberg Regions around Osaka, Japan’s second biggest population centre, struggled to recover from damage left by Typhoon Jebi, which left 10 people dead, hundreds of thousands of buildings without power and the area’s main airport closed. Kansai International Airport, a key transport and cargo hub that lies on an artificial island in Osaka Bay almost directly in the typhoon’s path, ...

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• 5 September

  Ford focusses on Mustang as ‘cars’ fade from showrooms

  

  Bloomberg Ford Motor Co. has stopped running national ads for the Fusion and Focus sedans it’s killing and put more marketing muscle behind the Mustang, a decision that paid off with a 35 percent sales jump for the pony car last month. “Those are the kind of things you’re able to do when you narrow the focus of your lineup,” ...

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• 5 September

  Bayer CEO has ‘no regrets’ for $63bn Monsanto purchase

  

  Bloomberg Bayer AG’s $63 billion Monsanto purchase has suffered regulatory delays, mounting legal claims and now will yield lower earnings for the year than earlier forecast. Still, the company’s CEO says he has “no regrets.” The German company lost out on revenue from Monsanto’s busy spring season, when farmers in the Northern Hemisphere plant the bulk of their crops, because ...

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• 5 September

  JM Holding weighs options including sale

  

  Bloomberg JM Holding GmbH, a German family-owned investment vehicle, is exploring options including a partial sale of the business that controls two plastics companies, according to people with knowledge of the matter. A sale of about half of the firm, which is under consideration by some of the owners, would give buyers an equal proportion of two closely held German ...

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• 5 September

  Germany, UK to drop key Brexit ask, easing path to deal

  

  Bloomberg The British and German governments have abandoned key Brexit demands, potentially easing the path for the UK to strike a deal with the European Union, people familiar with the matter said. The pound rose. Germany is ready to accept a less detailed agreement on the UK’s future economic and trade ties with the EU in a bid to get ...

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