January, 2018

• 14 January

  UK’s GKN rejects $9.5bn Melrose bid

  

  Bloomberg GKN Plc rejected an unsolicited approach from Melrose Industries Plc and said it will split itself in two rather than accept a $9.5 billion takeover offer that it says undervalues the UK maker of aerospace and automotive components. GKN shares surged as much as 28 percent to an all-time high after the Redditch, England-based company, a key supplier to ...

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• 14 January

  Chip-security fixes leave PCs 10% slower: Intel

  

  Bloomberg Intel Corp., trying to defuse concern that fixes to widespread chip security vulnerabilities will slow computers, released test results showing that personal computers won’t be affected much and promised more information on servers. The chipmaker published a table of data showing that older processors handled typical tasks 10 percent slower at most, after being updated with security patches. The ...

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• 14 January

  Rolls-Royce seeks $700mn from unit sale

  

  Bloomberg Rolls-Royce Holdings Plc is seeking to raise as much as $700 million from the sale of a business that makes fuel injectors for diesel engines used in ships and industrial applications, people familiar with the matter said. The UK jet-engine maker began showing L’Orange unit’s financial data to potential bidders in December and is closing in on an agreement, ...

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• 14 January

  Amazon explores AR as VR gets a lifeline at CES, Las Vegas

  

  Bloomberg Companies pushing new virtual reality headsets talked a good game at CES 2018 in Las Vegas. Facebook’s Oculus touted new features in its upcoming $200 Oculus Go, a device designed to do for VR what the iPhone did for the smartphone, Google and Lenovo showed off a jointly designed headset that will sell for the half the price of ...

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• 14 January

  Rig-count chaos: US shale oil drillers are confusing analysts

  

  Bloomberg For US shale drillers who have seen prices climb almost 50 percent in six months, it’s been largely a rig-less recovery, a conundrum for traders seeking to forecast the future. Normally, you’d expect the rigs to return to the field in significant numbers as producers flush with added cash looked to boost output. But the weekly Baker Hughes tally ...

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• 14 January

  BP to pay $102mn to settle California suit

  

  Bloomberg A BP Plc unit will pay $102 million to settle a lawsuit accusing the company of overcharging California for natural gas, the state’s attorney general said. The accord spared BP from facing a jury trial that was scheduled to start this week in San Francisco. A lawyer for the ex-employee who initially filed the complaint as a whistle blower ...

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• 14 January

  South Africa’s Eskom reviews ‘major impact’ of curbs on higher power prices

  

  Bloomberg Eskom Holdings SOC Ltd., the South African power utility battling to maintain liquidity, said there will be a “major impact” from the regulator’s decision last month to grant only a quarter of its requested tariff increase. The National Energy Regulator of South Africa gave the cash-strapped utility permission to raise prices by 5.2 percent from April 1, far short ...

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• 14 January

  Japan’s renewable energy goals lag world: Minister

  Bloomberg Japan’s plans to develop its renewable energy industry are lagging much of the world, as the nation has “prioritised keeping the status quo for fear of change,” Foreign Minister Taro Kono said. Japan wants renewable energy to account for 22 percent to 24 percent of its overall energy mix by 2030, while the global average today is already 24 ...

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• 14 January

  Singapore marine fuel sales reach all-time high

  

  SINGAPORE / Reuters Singapore posted record sales volumes of marine fuels for the third straight year in 2017, even as the city state reva-mped the market last year leading to stiff competition and margin erosion. Singapore last year sold an all-time high 50.6 million tonnes of marine fuels, a 4.2 percent increase over the 48.6 million tonnes sold in 2016, ...

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• 14 January

  Morocco will ‘soon’ tender for $4.6 billion gas project

  

  Bloomberg Morocco, which depends on imports for almost all of its energy needs, will soon tender for companies to build a $4.6 billion natural gas project, Energy Minister Aziz Rabbah said. The project will process gas for power and provide gas to industry, Rabbah said on Sunday in an interview in Abu Dhabi. With the financial and technical consultants chosen, ...

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