April, 2018

• 4 April

  Pentagon to respond on cloud contract seen favouring Amazon

  

  Bloomberg The Pentagon says it’s received 1,089 comments—including submissions from 46 companies—on its plans for a multibillion-dollar cloud computing contract in a sign of the intense interest and sharp debate over a winner-take-all award that competitors say will favour Amazon.com Inc. Industry comments and questions, but not the names of the companies making them, will be posted along with the ...

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• 4 April

  China tariffs impact Tesla

  Bloomberg Tesla Inc. needs to brace for another setback after China included electric cars among American products that it’s targeting with additional tariffs in its counter-punch to the US. While other autos imported from the US were also on the list, including most types of SUVs, Tesla is at a particular risk because it relies on American-made vehicles for all ...

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• 4 April

  PSA CEO brushes aside Brexit with Vauxhall expansion in UK

  

  Bloomberg PSA Group Chief Executive Officer Carlos Tavares played down concerns about Brexit as he unveiled a plan by the French carmaker to invest in a factory near London in a bid to revive the Vauxhall brand it acquired last year. “We are hearing many remarks from the UK government that make us think that they are negotiating with the ...

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• 4 April

  Steinhoff halves value of property unit in review

  Bloomberg Steinhoff International Holdings said a European real-estate portfolio may be worth about half previous estimates, as the embattled global retailer reviews the value of its assets following an accounting scandal. Hemisphere International Properties BV has been valued at about 1.1 billion euros ($1.3 billion) in a review by CBRE Group Inc., Steinhoff said in a statement. That compared with ...

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• 4 April

  Sorrell’s decades-long grip on WPP weakened over misconduct probe

  

  Bloomberg Martin Sorrell’s once-undisputed control of the advertising giant he’s assembled over more than 30 years may be slipping away. The firm, WPP Plc, is investigating allegations of personal misconduct by the 73-year-old Sorrell. The company statement—along with a denial by Sorrell—was released after news of the probe was leaked to the Wall Street Journal, which reported that the accusations ...

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• 4 April

  US stocks pare losses as trade dispute with China reassessed

  

  Bloomberg US stocks pared losses, while haven demand eased as investors speculated that the final form of any Chinese tariffs might be less onerous than currently proposed. The S&P 500 Index cut its decline by almost two-thirds as representatives from China and the Trump administration left the door open for a negotiated solution. The proposals wouldn’t take effect for months. ...

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• 4 April

  Saudi rebounds as blue chips attract interest

  

  Reuters Buyers returned to the Saudi Arabian stock market on Wednesday as blue chips attracted interest again after several days of profit-taking that followed FTSE Russell’s decision to upgrade Riyadh to emerging market status. The Saudi index was up 0.9 percent as the energy and banking sectors rose: PetroRabigh climbed 2.0 percent, Saudi Arabian Refineries jumped 3.0 percent and mining ...

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• 4 April

  Cyberattack hits US gas networks

  

  Bloomberg At least four US pipeline companies have seen their electronic systems for communicating with customers shut down over the last few days, with three confirming it resulted from a cyberattack. Oneok Inc., which operates natural gas pipelines in the Permian Basin in Texas and the Rocky Mountains region, said it disabled its system as a precaution after determining that ...

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• 4 April

  Palestinians to offer 45% stake in Gaza gas field

  GAZA / Reuters The Palestinians are seeking to sell a 45 percent stake in a gas field off Gaza to help to develop the project, its main stakeholder, the Palestine Investment Fund, said on Wednesday after Royal Dutch Shell announced it had pulled out. Gaza Marine, about 30 km (20 miles) off the Gaza coast, has long been seen as ...

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• 4 April

  Oil skids to two-week low

  LONDON / Reuters Oil hit a two-week low on Wednesday after China said it would impose tariffs on a number of US goods including agricultural products, raising the prospect of a growing trade war that could hurt the global economy. China, the world’s largest importer of raw materials, lashed back at the Trump administration’s plan to levy tariffs on $50 ...

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