July, 2018

• 17 July

  BMW strikes deal for stake in China battery giant

  

  Bloomberg BMW AG is the first overseas carmaker to get a potential toehold in Chinese electric-car battery maker Contemporary Amperex Technology Co. Ltd., obtaining the right to make an equity investment of as much as $427 million. BMW Brilliance, the German carmaker’s Chinese joint venture, is entitled to invest in CATL if the company plans to sell shares in China ...

  Read More »
• 17 July

  China’s PDD eyes $1.6bn in mega tech IPO

  

  Bloomberg Pinduoduo Inc., the Chinese e-commerce operator backed by Tencent Holdings Ltd., plans to raise as much as $1.6 billion in a US initial public offering to bankroll a fight against rivals like Alibaba. The Shanghai-based firm is offering 85.6 million American Depositary Shares at $16 to $19 apiece, it said in a stock exchange filing. Tencent, the leader in ...

  Read More »
• 17 July

  Anbang mulls sale of health insurer Hexie

  

  Bloomberg Anbang Insurance Group Co. is weighing a sale of its Hexie Health Insurance Co. unit as the troubled Chinese firm reviews its assets for possible divestment, according to people familiar with the matter. The insurer is in discussions with financial advisers about a possible disposal of the unit after receiving interest, the people said, asking not to be identified ...

  Read More »
• 17 July

  Unshackled ZTE needs weeks to get business on track

  

  Bloomberg ZTE Corp. will take several weeks to get its business back on track after gaining its freedom from a game-ending US technology ban, people familiar with the matter said. The Chinese telecommunications equipment maker is dealing with a worker shortage as it awaits shipments of key components from US suppliers like Qualcomm Inc., the people said, asking not to ...

  Read More »
• 17 July

  Trump’s Putin defense elicits backlash from Republicans

  

  Bloomberg President Donald Trump’s equivocation on US intelligence agencies during a news conference with Russian leader Vladimir Putin triggered the most intense backlash from Republicans of anything he’s done since winning election in 2016. Republicans who looked past the release of his recorded his refusal to denounce neo-Nazi protesters, or complained but took no substantive action when he imposed tariffs ...

  Read More »
• 17 July

  Ramaphosa’s ANC to rule S African votes

  

  Bloomberg Support for South Africa’s ruling African National Congress has rebounded after Cyril Ramaphosa replaced Jacob Zuma as party leader and president to the point that it’s likely to easily retain its outright majority in next year’s elections, an opinion poll shows. Sixty percent of 3,738 adults interviewed between April 20 and June 7 by research company Ipsos said they ...

  Read More »
• 17 July

  Pakistan’s Bilawal names Zardari as PM candidate

  Bloomberg Pakistan Peoples Party co-Chairman Bilawal Bhutto Zardari said his father and former President Asif Ali Zardari will be the party’s candidate for prime minister after the national elections scheduled to be held on July 25. “He is the best choice as most likely there will be a coalition government as a result of the elections,” Bilawal said at a ...

  Read More »
• 17 July

  May in Brexit turmoil with parliament majority slashed

  

  Bloomberg UK Prime Minister Theresa May’s ability to deliver Brexit was thrown into doubt as infighting in her Conservative Party left her with a perilously small majority, staggering from one vote to the next. May’s majority was cut to just three votes after she adopted Brexiteer amendments to a key piece of customs legislation, and the proposals narrowly passed through ...

  Read More »
• 17 July

  Slovenian party mulls coalition to break logjam

  

  Bloomberg A Slovenian political party that has been talking to the top two finishers in last month’s inconclusive parliamentary ballot proposed that they join forces to break a deadlock that may trigger a re-do election. The euro-area nation of 2 million people is facing a protracted standoff after no party emerged with a clear majority, touching off the European Union’s ...

  Read More »
• 17 July

  Buhari’s party wins Nigerian state vote marred by bribery

  Bloomberg Nigeria’s ruling party won a gubernatorial vote in a key swing state, with reports of widespread bribery signalling the probable shape of the battle in February’s general elections. The Ekiti win is a boost for the re-election chances of President Muhammadu Buhari, 75. It shows his All Progressives Congress retains the muscle in the southwest region that helped him ...

  Read More »