August, 2018

• 5 August

  Canada minister upbeat on Nafta talks

  Bloomberg Canada’s foreign affairs minister Chrystia Freeland said she’s ready to move forward quickly once the US and Mexico reach an agreement on automobiles, and downplayed any notion that her country has been shut out of North American Free Trade Agreement (Nafta) talks. “I and Canada are very, very keen to get it done as quickly as possible,” Freeland told ...

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• 5 August

  ‘Comcast doesn’t have to raise its Sky bid now’

  

  Bloomberg Comcast Corp. doesn’t have to raise its offer for Sky Plc, at least not yet. A ruling from UK takeover authorities kept a floor price of 14 pounds per share for Sky, below the US cable giant’s overall $34 billion bid. That means Comcast, whose offer for the UK pay-TV company is currently the highest, doesn’t have to increase ...

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• 5 August

  How US companies coping with inflation, scarce labour!

  

  Bloomberg It’s no secret: US businesses are dealing with rising costs, from labor to raw materials to shipping expenses. But many are already starting to see the light at the end of the tunnel as the economy works its way through what may prove to be temporary inflationary pressures. Take Clorox Co., for example. The Oakland, California-based consumer-products maker’s chief ...

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• 5 August

  Asia’s new stock-market king has strong profits

  

  Bloomberg With Japan regaining its place as the second-biggest stock market amid growing trade tensions between the world’s two largest economies, investors expect the nation’s equities to garner more attention. Japanese shares were worth $6.15 trillion compared with just under $6 trillion for Chinese equities, according to data compiled by Bloomberg. The markets swapped position behind the US for the ...

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• 5 August

  Pound bulls look to UK data in hope to revive fortunes

  

  Bloomberg The ailing pound may need a dose of positive UK data to help it recover from a losing run against the dollar. Traders will watch data due this week in the hope that evidence of a strong economy will help boost the currency. Sterling dropped below $1.30 for the first time in seven weeks as investors looked past the ...

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• 5 August

  Tata gets $1.3 billion India bill to close its phone deal

  

  Bloomberg Tata Group may have to pay around $1.3 billion in dues to the Indian government to rescue the proposed sale of its mobile-phone business to Bharti Airtel Ltd., people familiar with the matter said. The department of telecommunications is demanding that Tata Teleservices Ltd. clear any obligations to the government before it approves the deal that was struck in ...

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• 5 August

  Computer virus cripples Taiwanese chipmaker’s plants

  

  Bloomberg A computer virus halted several Taiwan Semiconductor Manufacturing Co. factories, dealing the company one of its most severe disruptions as it ramps up chipmaking for Apple Inc.’s next iPhones. The sole maker of the iPhone’s main processor said a number of its fabrication tools had been infected, and while it had contained the problem and resumed some production, several ...

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• 5 August

  Chinese developer halts projects after deaths at its building sites

  

  Bloomberg Back in April, giant Chinese developer Country Garden Holdings Co. ordered its thousands of staff to move faster in getting projects to market. The human and financial cost of the emphasis on speed is now coming into focus, after deadly accidents at its building sites caused the stock to crash. Country Garden shares plunged 17 percent, lopping off $6 ...

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• 5 August

  ‘1MDB-linked super yacht handover illegitimate’

  

  Bloomberg A central figure in a multi-billion dollar corruption scandal at a Malaysian state fund says a decision by Indonesia to hand over a $250 million yacht to Malaysia violates US and Indonesia laws. Low Taek Jho, described by US investigators as central to the 1Malaysia Development Bhd scandal, said in a statement Malaysia had decided to “illegitimately” acquire the ...

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• 5 August

  Huawei aims to be No.1 after dethroning Apple

  

  Bloomberg Huawei Technologies Co., which just edged past Apple Inc. to become the world’s second-largest smartphone maker, wants to be top of the heap before the end of 2019. The Chinese giant shipped more than 95 million phones in the first six months, up about 30 percent from a year earlier. Consumer division chief Richard Yu said he wants Huawei ...

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