May, 2017

• 21 May

  Broadcom, KKR to be bidders for Toshiba unit

  

  Bloomberg Broadcom Ltd. and a group led by KKR & Co. are emerging as the two leading bidders for Toshiba Corp.’s semiconductor unit for second-round offers, according to people familiar with the matter. Broadcom, based in San Jose, California, is offering about 2.2 trillion yen ($20 billion) and would face simpler regulatory reviews than some rivals, said one of the ...

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• 21 May

  Samsung ‘ejected critic’ tapped to be top business cop

  Bloomberg Samsung Electronics Co.’s security guards once dragged a bespectacled professor out of the building after he heckled the chief executive officer for not doing anything when the chairman was accused of making illegal political donations. Thirteen years later, the professor — Kim Sang-jo — has the backing of South Korea’s new leader to hold the biggest conglomerates accountable in ...

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• 21 May

  Poland faces harsh EU reality in push for coal exemptions

  

  Bloomberg The Polish government’s hopes to get special treatment from the European Union for its coal-dependent economy may be quashed by the bloc’s strict approach to limiting the dirty fuel. The EU’s largest eastern economy needs to build more coal-fired power plants to avoid blackouts and an economic slump, Poland’s energy minister said in the southern city of Katowice. That ...

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• 21 May

  Ford plans to cut 10% of global workforce

  

  Bloomberg Ford Motor Co. plans to cut about 10 percent of staff worldwide as Chief Executive Officer Mark Fields faces escalating pressure to boost profit and a lagging stock price, the Wall Street Journal reported. The job cuts are expected to be outlined as early as this week and mostly target salaried employees, the newspaper said, citing unidentified people briefed ...

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• 21 May

  UK threatens to quit Brexit talks if it faces massive bill

  Bloomberg The UK will quit talks on leaving the European Union unless the bloc drops its demands for a divorce payment as high as 100 billion euros ($112 billion), Brexit Secretary David Davis said. Britain’s negotiations would otherwise be plunged into “chaos,” and even a 1 billion-pound settlement wo- uld be “a lot of money,” Davis said in an interview. ...

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• 21 May

  Glencore says e-car boom coming faster than expected

  

  Bloomberg Glencore Plc Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an industry conference in Barcelona. Almost all carmakers are increasing investm-ent ...

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• 21 May

  Saudi basks in Trump glow, most of region moves little

  

  RIYADH / Reuters Saudi Arabia’s stock market outperformed a sluggish region on Sunday after US and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. Few of the deals involved listed Saudi companies, and many had been previously announced, or were merely memorandums of understanding that might never lead to concrete projects. ...

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• 21 May

  Etihad Airways to launch A380 flights to Paris

  

  Abu Dhabi / Emirates Business Etihad Airways on Sunday announced the year-round deployment of its award-winning Airbus A380 aircraft on the Abu Dhabi to Paris route. The superjumbo, which features ‘The Residence’ – the world’s first three-room suite on a commercial airliner – will operate from July 1 on one of its twice-daily services from UAE’s capital city to the ...

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• 21 May

  Wal-Mart’s online sales soar as retail giant pursues Amazon

  

  Bloomberg Wal-Mart Stores Inc. gained momentum in its fight against Amazon.com Inc., with its online sales growing at their fastest clip in at least five years. The e-commerce business saw gross merchandise volume — a measure of all the goods it sells online — soar 69 percent in the first quarter, Wal-Mart said. Total revenue climbed 1.4 percent to $117.5 ...

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• 21 May

  Southwest’s 737 Max engines being inspected for disc flaw

  

  Bloomberg Southwest Airlines Co. may have sidestepped a scheduling headache by letting other carriers take the first deliveries of Boeing Co.’s upgraded 737 Max jetliners. The discount airline, the initial buyer of the plane, is awaiting inspection results for 10 engines on its future jets to see if the turbines have a potential manufacturing defect. But that shouldn’t delay Southwest’s ...

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