March, 2018

• 12 March

  Hong Kong housing in hot demand as Wheelock apartments sell out

  

  Bloomberg Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project. Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said ...

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• 12 March

  Elliott buys stake in India’s IT firm Wipro

  

  Bloomberg Billionaire Paul Singer’s Elliott Management Corp. has bought a stake in Wipro Ltd., its first ever purchase of an Indian-based software outsourcer. The New York hedge fund acquired 1.855 million American depositary receipts, or about 0.04 percent of Wipro’s share capital, according to a filing with the US Securities & Exchange Commission. Though tiny when compared with Elliott’s stake ...

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• 12 March

  How Blackstone turned India into its most profitable market

  

  Bloomberg Blackstone Group LP says it’s found the formula for making money in India, which has become its top-performing market globally after the firm began focusing on bigger buyout deals. Over the past few years, Blackstone has started concentrating on select sectors like consumer and information technology where it expects India to see the most wealth creation, according to Senior ...

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• 12 March

  Dropbox aims to raise $748mn in IPO

  

  Bloomberg Dropbox Inc. aims to raise as much as $648 million in its US initial public offering. The file-sharing company is marketing 36 million shares of Class A common stock for $16 to $18 apiece, according to a filing with the US Securities and Exchange Commission on Monday. At the high end of that range, Dropbox would have a market ...

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• 12 March

  EU dismisses Trump’s car threats, vows to ‘stand up to bullies’

  

  Bloomberg The European Union’s trade chief dismissed US President Donald Trump’s threat to impose tariffs on car imports, and vowed to “stand up to bullies,” adding to signs that a widening trans-Atlantic rift over protectionism could escalate into an all-out trade war. “In some places, trade has been blamed for the pains of globalization, others use it as a scapegoat ...

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• 12 March

  Canada working to secure quick Nafta deal: Minister

  

  Bloomberg Nafta negotiations are weighing on companies’ investment plans and both Canada and the US are hoping to make rapid progress in talks, according to Canadian Finance Minister Bill Morneau. “There are some businesses that are being cautious in investments because there is an expectation that Nafta could be slightly different tomorrow than it was yesterday,” Morneau said . “What’s ...

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• 12 March

  Finland’s Stora becomes key supplier to Apple

  

  Bloomberg A former prime minister of Finland once blamed Apple Inc. for torpedoing two of his country’s biggest industries—mobile phones and paper mills. Now Stora Enso Oyj, one of Europe’s largest paper and packaging makers, has become a key supplier to the iPhone maker, according to documents published. The tie-up wasn’t always on the cards. In 2014, then prime minister ...

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• 12 March

  London house prices drop at fastest pace since 2009

  

  Bloomberg London house prices are falling at the fastest pace since the depths of the recession almost a decade ago, with the capital’s most expensive areas seeing the biggest declines. Average prices fell to 593,396 pounds ($820,000) in January, an annual decline of 2.6 percent, according to a report published by Acadata on Monday. That’s the most since August 2009. ...

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• 12 March

  BMW mulls offering motorcycle ride-sharing

  

  Bloomberg BMW AG would like to start offering up the back seat on motorbikes and scooters to get around congested cities—if the issue of helmets can be solved. “This is definitely an option, but we haven’t found the solution for the second helmet yet,” Peter Schwarzenbauer, who heads BMW’s Mini, Rolls-Royce and motorcycle brands, said at the Geneva International Motor ...

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• 12 March

  May faces calls to crack down against Russia after spy attack

  

  Bloomberg UK Prime Minister Theresa May faces calls to crack down on Russian influence in Britain amid reports that investigators have linked Vladimir Putin’s regime to last week’s poisoning of a former spy in a city southwest of London. The Times and Telegraph newspapers reported that May could blame Russia publicly for the attempted nerve-gas murder of Sergei Skripal and ...

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