March, 2018

• 27 March

  EU urges Congo to attend aid talks

  Bloomberg The European Union’s aid chief urged the Democratic Republic of Congo to take part in a donor meeting on tackling a humanitarian crisis in the vast central African country that’s left more than 13 million people in need of aid. Congo’s government, which has been under pressure to hold elections that would see President Joseph Kabila leave power, has ...

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• 27 March

  Oil gains as easing trade tensions counter supply fears

  

  Bloomberg Oil traded above $65 a barrel as global trade tensions showed signs of easing, countering concerns that US crude stockpiles may have resumed their expansion last week. Futures in New York rose 0.3 percent, remaining near the year’s highest close set in January at $66.14. A resurgence in risk appetite has helped lift markets from equities to commodities after ...

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• 27 March

  Xiaomi’s CEO disses iPhone in unveiling $500 marquee device

  

  Bloomberg Xiaomi Corp. unveiled its latest top-tier smartphone to bring the fight to Apple and Samsung, as the Chinese startup readies a highly anticipated initial public offering. Co-founder Lei Jun showed off the MIX 2S, which starts at 3,299 yuan ($527). The phone—on paper— sports many of the bells and whistles familiar to power users but is about half the ...

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• 27 March

  Collapse of HNA’s Swiss IPO sets back $16 billion garage sale

  Bloomberg HNA Group Co.’s scrapped initial public offering of its Swiss airline caterer dialed up the pressure for the embattled conglomerate as it seeks to raise about $16 billion during the first half of the year to reduce one of the biggest debt piles in corporate China. The IPO of Gategroup Holding AG would have raised between $917 million and ...

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• 27 March

  Foxconn unit to buy Belkin for $866mn in brand push

  

  Bloomberg FIT Hon Teng Ltd., part of the contract manufacturing giant Foxconn Technology Group, agreed to buy Belkin International Inc. in the latest move by billionaire Terry Gou to expand in branded goods. FIT will pay $866 million in cash for Belkin, a maker of Wi-Fi routers, mobile device chargers and keyboards, the company said in a filing to the ...

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• 27 March

  GM’s South Korea unit threatens bankruptcy

  

  Bloomberg General Motors Co. said it intends to file its South Korean unit for bankruptcy if its labor union fails to agree on a restructuring plan that needs to be outlined within the next four weeks, putting pressure on employees and the government to help it stay afloat in the country. Barry Engle, GM’s international chief, told union leaders that ...

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• 27 March

  Japanese commercial land prices increase by most in a decade

  

  Bloomberg Commercial land prices in Japan rose by the most in a decade last year, thanks to a years-long tourism boom and ultra-low lending rates. The average price of commercial land nationwide rose 1.9 percent, the most since 2008, the land ministry said. The average price outside the three biggest metropolitan areas rose 0.5 percent—the first gain in 26 years. ...

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• 27 March

  UK employers concerned about Brexit migration restrictions

  

  Bloomberg British employers have become reliant on European Union workers and are concerned about restrictions after Britain leaves the bloc next year, according to a government-commissioned study published. “Employers were fearful about what the future migration system might be,” the Migration Advisory Committee said in an interim report. “Many employers in lower-skilled sectors have built a business model in which ...

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• 27 March

  Glaxo in $13 billion push as Novartis bets on new drugs

  

  Bloomberg The new bosses of two of Europe’s largest drugmakers are pivoting in different directions, with GlaxoSmithKline Plc doubling down on consumer health as Novartis AG focusses on finding new prescription medicines. Glaxo CEO Emma Walmsley’s $13 billion deal for Novartis’s stake in a joint venture that includes Panadol pain relievers and Theraflu cold medicine comes only days after the ...

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• 27 March

  BMW plans car-subscription pilot in Nashville

  

  Bloomberg BMW AG will begin a car-subscription pilot in Tennessee next week, joining the ranks of automakers experimenting with new ownership models as ride hailing and smartphones upend traditional auto retailing. The service, called Access by BMW, will be offered by a local BMW dealership in Nashville starting from April 2, according to a person familiar with the company’s plans ...

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