November, 2017

• 1 November

  Exxon to pay $300mn in US pollution cases

  Bloomberg Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump administration. Separately, Denver-based PDC Energy Inc. agreed to pay $22.2 million after storage tanks were found to be leaking smog-forming compounds. ...

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• 1 November

  Low oil prices dim GOP bid for budget bonanza in Arctic

  

  Bloomberg Congressional Republicans counting on a $1 billion windfall from selling oil-drilling rights in the Arctic National Wildlife Refuge to help pay for tax cuts may be in for a disappointment. Data from previous Arctic oil lease sales suggest the US is likely to collect less than a fifth of that billion-dollar goal over the next decade— about $145.5 million ...

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• 1 November

  Tencent’s e-book IPO sets stage for music arm debut

  

  Bloomberg China Literature Ltd., the online reading unit helping Tencent Holdings Ltd. build an entertainment empire, raised $1.1 billion alongside existing investors in its Hong Kong initial public offering, according to people with knowledge of the matter. The first-time share sale priced at the very top of a marketed range, the people said, asking not to be identified because the ...

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• 1 November

  Alibaba leads $335mn funding for Chinese car site SouChe.com

  

  Bloomberg SouChe.com, a Chinese car trading site, raised $335 million in a funding round led by Alibaba Group Holding Ltd. as it expands in auto-financing and prepares for a potential US IPO. Alibaba will become the biggest backer of the site and integrate parts of the business with its own e-commerce services. Warburg Pincus, Primavera Capital and CMB International also ...

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• 1 November

  Energy drink Carabao billionaire rises in Thailand

  

  Bloomberg There’s another energy drink pouring out massive wealth in Thailand. Sathien Setthasit, chairman and chief executive officer of Red Bull challenger Carabao Group Pcl, has become a billionaire after the company’s shares rose 38 percent this year and lifted his net worth to $1.1 billion, according to the Bloomberg Billionaires Index. The surge has also boosted the fortunes of ...

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• 1 November

  Grab starts mobile wallet service in Singapore

  Bloomberg Grab, Southeast Asia’s largest ride-hailing app, is kicking off a new digital wallet service in Singapore as it stakes a claim to the region’s burgeoning mobile payments sector. Grab will enable its 4 million users in the city-state to scan a quick response, or QR, code to pay for local dishes such as chicken rice and prawn noodles at ...

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• 1 November

  UK hints at compromises on Brexit bill as date set for talks

  

  Bloomberg The UK signalled it’s preparing to compromise over money in its stand-off with the EU, as a new round of Brexit talks offered the chance to break the deadlock. The deal on the divorce terms will probably be better for the remaining 27 EU countries than for Britain on the financial settlement, Brexit Secretary David Davis said. The first ...

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• 1 November

  UK factory price pressures intensify

  

  Bloomberg UK manufacturing strengthened in October and measures of prices and capacity indicated an inflationary buildup within the industry. IHS Markit said costs rose and firms increased selling prices at the fastest pace in six months. A measure of hiring jumped to the highest in more than three years and there were “capacity pressures” in the supply of raw materials, ...

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• 1 November

  Best Buy stops new iPhone sales after pricing backlash

  

  Bloomberg Best Buy Co. said it stopped some sales of Apple Inc.’s iPhone X and iPhone 8 after consumers complained about the retailer charging a $100 premium on the already expensive smartphones. The company, one of Apple’s key retail partners, still sells all iPhone models via carrier installment plans that let customers pay for the devices over several months. The ...

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• 1 November

  US food giants Kellogg, Mondelez achieve growth

  

  Bloomberg A weaker dollar is helping two US food giants break out of a prolonged sales slump. Kellogg Co. and Mondelez International Inc. both rallied after posting their first revenue growth in years, helped by currency tailwinds. The news signals that US food producers are finally getting some relief overseas, where the strong dollar—along with shaky local economies—had battered results. ...

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