May, 2018

• 1 May

  Farfetch’s valuation could wind up farfetched

  

  Who wears it best in online luxury? Investors are about to decide. Just as Cie Financiere Richemont is taking control of Yoox Net-A-Porter Group, rival Farfetch U.K. Ltd may be eyeing a $6 billion initial public offering. Though YNAP is a digital pioneer, it apes a traditional department store. It buys stock and holds it until it is sold to ...

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• 1 May

  Airbus is building gliders while Boeing floats on cash

  

  What’s the difference between Boeing Co. and Airbus SE? One builds commercial aircraft, the other makes “gliders” (a pejorative term for passenger jets without engines.) Airbus shipped just 121 aircraft during the first quarter, the least since 2011, notes Bloomberg News’s Benjamin Katz this morning. That’s also one third fewer than Boeing managed in the same period. The main problem ...

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• 1 May

  Walmart’s major overseas ambitions require big moves

  Walmart Inc. is starting to make moves that reveal its international ambitions. The retailing giant has agreed to sell its UK grocery chain, Asda, to rival J Sainsbury PLC in a transaction worth about $10.1 billion. Walmart will retain a 42 percent stake in the combined company. That splashy deal comes amid signs Walmart is considering other big changes to ...

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• 1 May

  UK government eyes Southeast Asia for post-Brexit trade bursts

  

  Bloomberg The lone non-Asian trade minister at last week’s Southeast Asian leaders’ summit in Singapore, UK Trade Minister Greg Hands had plenty of room to make the case that Brexit won’t interfere with his country’s ambitious plans in the region. As it scrambles to roll over some 40 European Union trade deals into individual agreements with the UK, London has ...

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• 1 May

  L&T agrees to sell unit to Schneider for $2.1bn

  

  Bloomberg Larsen & Toubro Ltd., India’s largest engineering and construction company, has agreed to sell its electrical unit to a consortium led by Schneider Electric SE, people with knowledge of the matter said. A deal, which values Larsen’s electrical and automation division at about 140 billion rupees ($2.1 billion) including debt, could be announced as soon as this week, said ...

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• 1 May

  Japan’s traditional utilities face nuke threat from their own

  Bloomberg Japan’s traditional regional utilities, already defending their territory against nimbler new entrants, face a fresh threat: one of their own is now stealing customers thanks to cheaper nuclear-powered electricity rates. Kansai Electric Power Co. is one of a few utilities to restart atomic power plants, which will allow it to offer cheaper rates as it continues its expansion outside ...

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• 1 May

  Panasonic to pay $280mn to end corruption probe

  

  Bloomberg Panasonic Corp. will pay about $280 million to resolve US allegations that executives at its in-flight-entertainment unit improperly hid payments to consultants in the Middle East and Asia, some of whom did little or no work for the company. The Panasonic parent company, in a settlement announced, will pay $143 million in disgorgement to the Securities and Exchange Commission, ...

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• 1 May

  Sony hits 2-year low on cooling smartphone demand

  

  Bloomberg Sony Corp. shares fell the most in almost two years after the electronics maker missed profit estimates and forecast weaker sales and operating profits across most of its business units. The stock fell 6.1 percent to 5,073 yen on Tuesday in Tokyo, the biggest one-day drop since June 2016 and the first trading session after last week’s earnings. The ...

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• 1 May

  China’s aspiring Porsche, BMW owners in sweet spot for duty cut

  Bloomberg Chinese consumers waiting for years to lay their hands on the Porsche sports car or the 7 series from BMW AG may soon be rewarded. Imported premium cars in the $80,000 to $240,000 range are set to benefit the most from China’s planned reduction in tariffs by about half, said James Roy, a director at luxury consultancy Agility Research ...

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• 1 May

  Boeing buys jet parts supplier KLX Aerospace in $4.25bn deal

  

  Bloomberg Boeing Co. is acquiring KLX Inc. for $4.25 billion in an all-cash transaction that includes $1 billion of net debt, as the world’s largest planemaker bolsters a fast-growing new division that offers maintenance, spare parts and other services to airlines. The aircraft maker will pay $63 per share for the purchase that includes KLX’s Aerospace Solutions Group and the ...

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