May, 2018

• 29 May

  Copper supply shock hits India as Vedanta ordered to close

  

  Bloomberg India faces a copper supply shock after a state government ordered billionaire Anil Agarwal’s Vedanta Ltd. to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company’s shares fell. The Tamil Nadu government directed the southern state’s pollution control board to seal the 400,000 metric-ton-per-year smelter ...

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• 29 May

  Chinese auto supplier to buy Grammer

  

  Bloomberg Ningbo Jifeng Auto Parts Co. affiliates are in talks to buy out partner Grammer AG in a possible deal that could value the German maker of vehicle seats at about 750 million euros ($872 million). Grammer stock rose the most in nine years. The German manufacturer received an indicative proposal of 60 euros a share, Amberg-based Grammer said in ...

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• 29 May

  Monsoon arrives early in Kerala, to help crops

  Bloomberg The southwest monsoon, which waters more than half of India’s farmland, arrived on the mainland ahead of its normal schedule. The monsoon reached the southern state of Kerala on Tuesday, according to a statement on the India Meteorological Department’s website. The department had accurately predicted an onset date of May 29 for the June-September rainy season, which typically starts ...

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• 29 May

  China considers more US coal imports to cut deficit

  

  Bloomberg China is considering a plan to buy more American coal as part of an effort to narrow its trade deficit with the US, according to people with knowledge of the matter. Chinese officials are currently looking at boosting purchases from West Virginia in particular, said the people, who asked not to be identified because they’re not authorised to speak ...

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• 29 May

  Canada buys Kinder’s Trans Mountain pipeline for $3.5bn

  

  Bloomberg Canada will buy Kinder Morgan Canada Ltd.’s Trans Mountain oil pipeline and its controversial expansion project for C$4.5 billion ($3.5 billion) in a bid to ensure it gets built amid fierce opposition. “It must be built and it will be built,” Finance Minister Bill Morneau said in Ottawa, as he and Natural Resources Minister Jim Carr unveiled the deal, ...

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• 29 May

  European Commission proposes ban on straws, other single-use plastics

  

  Bloomberg The European Commission proposed a total ban on some single-use plastic products and measures to drastically cut the consumption of others, in the latest push by the EU to reduce carbon emissions and marine litter threatening its seas. The ban will apply to plastic cotton buds, cutlery, plates, straws, and sticks for balloons, according to the proposal unveiled and ...

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• 29 May

  More companies using Facebook to exclude older job seekers

  

  Bloomberg A proposed class action lawsuit alleging Facebook’s ad placement tools facilitate discrimination against older job-seekers has been expanded to identify additional companies, further widening the latest front in claims that candidates are being filtered out by gender, geography, race and age. “When Facebook’s own algorithm disproportionately directs ads to younger workers at the exclusion of older workers, Facebook and ...

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• 29 May

  Investors eye PG&E after power lines blamed for fires

  

  Bloomberg Investors will be watching PG&E Corp. after California investigators said the utility-owner’s equipment sparked four of the smaller wildfires that broke out in Northern California last year. In the first findings on the more than 170 fires that charred the region, the California Department of Forestry and Fire Protection, known as Cal Fire, said blazes in Butte and Nevada ...

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• 29 May

  Workers win war on low wages in EU’s most stable economy

  

  Bloomberg Czech workers are slowly winning the war on low wages. Faced with the European Union’s lowest unemployment rate, companies are tackling a dearth of able bodies in the country of 10.6 million with bonuses and higher salaries. According to Josef Stredula, the head of the nation’s umbrella union, that will continue for several more years as labor costs lie ...

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• 29 May

  Kim sending right-hand man to US for summit talks: Trump

  

  Bloomberg North Korean leader Kim Jong-un has dispatched one of his top aides to New York for talks ahead of his planned summit with Donald Trump next month, the president said on Twitter. “Meetings are currently taking place concerning Summit, and more,” Trump said in a Twitter posting that misspelled the envoy’s name. “Kim Young Chol, the Vice Chairman of ...

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