January, 2018

• 23 January

  Modi: India sets sights on $5 trillion economy

  

  Bloomberg India is working towards a $5 trillion dollar economy by 2025, Prime Minister Narendra Modi said on Tuesday at the opening session of the World Economic Forum in Davos. “Almost all areas of our economy have been opened to foreign direct investment,” said Modi, the first Indian prime minister in two decades to attend the forum of global business ...

  Read More »
• 23 January

  Philippine growth rate hits 6% for sixth year

  

  Bloomberg The Philippines retained its position as one of the world’s fastest-growing economies after expansion exceeded 6 percent for a sixth year. Gross domestic product increased 6.7 percent in 2017, the Philippine Statistics Authority said in Manila on Tuesday, matching the median estimate in a Bloomberg survey of economists. The economy rose 6.6 percent in the fourth quarter from a ...

  Read More »
• 23 January

  Chinese online learning provider plans to raise $300 million in US IPO

  Bloomberg Sunlands.com, a Chinese online learning provider, is planning a US initial public offering that could raise about $300 million, people with knowledge of the matter said. The Beijing-based company, which is backed by New Oriental Education & Technology Group Inc., aims to sell shares as soon as the first half of this year, according to the people, who asked ...

  Read More »
• 23 January

  Trump marks 2nd year with Asia tariffs world has feared

  

  Bloomberg After a year of chest thumping, President Donald Trump has finally delivered the type of trade blow his political base has been craving. Trump slapped tariffs on imported solar panels and washing machines in his first major move to level a global playing field he says is tilted against American companies. The decision came two days after the one-year ...

  Read More »
• 23 January

  Fox-Sky hits snag as CMA says Murdoch gets more power

  

  Bloomberg UK regulators dealt a setback to 21st Century Fox Inc.’s planned 11.7 billion-pound ($16.3 billion) takeover of Sky Plc, saying the deal would give Rupert Murdoch too much control over the country’s media. Fox’s bid to buy the European pay-TV broadcaster wouldn’t be in the public interest, the Competition and Markets Authority said in provisional findings on Tuesday in ...

  Read More »
• 23 January

  UK has smallest deficit since 2000 as VAT hits record

  

  Bloomberg Britain recorded its smallest budget deficit for any December in 17 years as value-added tax receipts reached a record and the Treasury received a bumper credit from the European Union. Net borrowing narrowed to 2.6 billion pounds ($3.6 billion), well below the median forecast of economists, from 5.1 billion pounds a year earlier, figures showed. It left the shortfall ...

  Read More »
• 23 January

  Germany investor sentiment gains

  Bloomberg German investor confidence rose to an eight-month high in January, setting an optimistic tone for Europe’s largest economy in 2018. The ZEW Center for European Economic Research in Mannheim said that its index of investor expectations increased to 20.4 from 17.4 in December. Economists in a Bloomberg survey predicted a gain to 17.7. Germany’s economy has been enjoying a ...

  Read More »
• 23 January

  Netflix value tops $100bn, matches Goldman Sachs, Qualcomm

  

  Bloomberg Netflix Inc. surged in late trading after a blow-out quarter, vaulting past $100 billion in market value for the first time to put the video service on a lofty perch with the likes of Goldman Sachs Group Inc. and Qualcomm Inc. The world’s largest online TV network reported its strongest year of subscriber growth to date. Netflix added 24 ...

  Read More »
• 23 January

  Davos shows ‘weakness of western leaders’

  

  Bloomberg It’s been a decade since western bankers commanded the deference in Davos they enjoyed before the financial crisis. That blight appears to be spreading to politicians. The so-called masters of the universe headed to this year’s annual gathering of the global elite are looking less than magisterial. With the US in “America First” mode under Donald Trump, Britain consumed ...

  Read More »
• 23 January

  Irish border dispute fails to die down

  

  Bloomberg For UK Prime Minister Theresa May, the Irish border issue may resurface sooner than she imagined. In a deal agreed last month to unlock divorce talks with the European Union, May guaranteed no hard border will re-emerge on the island of Ireland after Brexit. If all else fails, Northern Ireland will play by the same EU rules that apply ...

  Read More »