April, 2018

• 30 April

  China’s troubled HNA in talks to sell US property

  Bloomberg Less than a year after HNA Group Co. paid $2.21 billion for 245 Park Ave. — a purchase that raised eyebrows for its near-record price — the troubled Chinese conglomerate is in talks to sell the Manhattan office tower. SL Green Realty Corp., a lender to 245 Park, is in discussions with HNA to purchase the building, according to ...

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• 30 April

  US-China ‘trade war’ takes shape in Geneva

  

  Bloomberg Just a month after President Trump upended the global order with threats of tariffs against allies and adversaries alike, his ambassador to the World Trade Organization took aim at both China, a main focus of Washington’s ire, and the global trade body itself. China’s “trade-distorting policies” represent a “threat to the international trading system,” Deputy US Trade Representative Dennis ...

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• 30 April

  Noble to submit draft for restructuring special meeting

  Bloomberg Noble Group Ltd. said it plans to set the date for a special general meeting shortly that will decide the commodity trader’s controversial restructuring after the Singapore High Court blocked it from holding an annual meeting at the behest of dissident shareholder Goldilocks Investment Co. The court, however, hasn’t restrained Noble from holding future special general meetings, the company ...

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• 30 April

  Australia to spend $379mn to save Great Barrier Reef

  

  Bloomberg The Great Barrier Reef is being $379 million boost by Australia in the battle to save the world’s largest living structure as it faces mounting challenges such as climate change, agricultural runoff and a coraleating starfish. “Like reefs all over the world, the Great Barrier Reef is under pressure,” Prime Minister Malcolm Turnbull said in a statement on Sunday, ...

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• 30 April

  Gold jewellers in India see cool IPO outlook after alleged fraud

  

  Bloomberg Gold jewellers in India are expecting a cool reception in the short term to any plans to publicly trade shares in the wake of an alleged $2 billion fraud by jewellers Nirav Modi and Mehul Choksi. Joyalukkas Group has put an initial share sale of its jewellery business on hold and will revisit the proposal after national elections next ...

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• 30 April

  Gas pipelines facing $18.5 billion threat from Trump tax revamp

  

  Bloomberg Pipeline owners led by Enbridge Inc. and Williams Cos. could be forced to refund as much as $18.5 billion to drillers, utilities and even United Airlines Inc. for upfront payments they charged customers before new US tax rules cut the corporate rate. Natural gas conduits include the cost of future tax payments in customer fees. Because the Trump administration ...

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• 30 April

  After Tesla debacle, Denmark reconsiders electric car subsidies

  

  Bloomberg Denmark may be open to financial incentives to buy electric cars after seeing a dramatic drop in sales of non-polluting vehicles, according to Prime Minister Lars Lokke Rasmussen. “We have tax incentives for electric cars, and you could discuss if they should be bigger. I will not exclude that,” Rasmussen said in an interview in Copenhagen. Any new incentives ...

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• 30 April

  Roche lifts forecast as bet outside cancer pays off

  

  Bloomberg Roche Holding AG’s bet on fields outside its mainstay market of cancer is starting to pay off as the Swiss drugmaker boosted its forecast for this year. New medicines such as Ocrevus for multiple sclerosis and Hemlibra for hemophilia are driving the increase, the company said in a statement. The world’s biggest maker of cancer treatments also reported sales ...

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• 30 April

  Ceridian raises $462mn in IPO

  

  Bloomberg Ceridian HCM Holding Inc., the software maker backed by Thomas H. Lee Partners, raised $462 million in its initial public offering. The company priced 21 million shares at $22 apiece, above the $19 to $21 price range marketed to investors, according to data compiled by Bloomberg. The IPO gives Ceridian a market value of almost $3 billion, according to ...

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• 30 April

  Ford mulls $11.5bn in extra cuts, killing car business

  

  Bloomberg Ford Motor Co. is sharpening its knives to cleave another $11.5 billion from spending plans and cut several sedans, including the Fusion and Taurus, from its lineup to more quickly reach an elusive profit target. The automaker expects to save $25.5 billion by 2022, Chief Financial Officer Bob Shanks told reporters as Ford reported first-quarter earnings per share and ...

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