May, 2017

• 14 May

  SoftBank, Foxconn bring ‘cheap solar’ to India

  

  Bloomberg Companies led by SoftBank Group Corp. of Japan and Taiwan’s Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals. In two auctions this week for renewable-energy power-purchase contracts, bids from companies to supply clean electricity slid to as little as 3.8 cents ...

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• 14 May

  Noble Group shares suffer biggest ever slide after loss warning

  

  Bloomberg Noble Group Ltd.’s shares plunged the most on record to the lowest level in more than 14 years after it warned of a first-quarter loss and as S&P Global Ratings said the commodity trader’s debt-load is unsustainable given its current earnings path. Shares of the Hong Kong-based company, which counts China Investment Corp. as one of its largest shareholders, ...

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• 14 May

  Slowing rally fails to deter China metals bulls

  

  Bloomberg China’s metals bulls are taking a pause rather than sounding the retreat. A gauge of six metals on the London Metal Exchange slumped to its lowest in four months amid a collapse in copper and aluminum prices. As industry participants gathered in Hong Kong for the LME’s annual Asia event this week, the hope for some is that a ...

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• 14 May

  Rising rupee no barrier for India’s high-tech export machine

  

  Bloomberg Indian exports are defying a firm rupee, riding a rise in global growth with a surge in shipments of the kind of high-tech goods every nation covets. Exports rose to a six year high in March and, for now, that upward trend is tipped to continue as the world economy chugs along and foreign direct investment boosts productivity and ...

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• 14 May

  Asia FX laggards turn leaders of pack as ringgit rebounds

  Bloomberg Better late than never. The Philippine peso and Malaysian ringgit have clambered aboard the Asian currency rally, advancing against the dollar and spurring flows into equity markets. Global funds have poured $581 million into Malaysian stocks and $198 million into the Philippines since the end of March as the countries’ currencies strengthened 2 percent and 0.5 percent, respectively. That’s ...

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• 14 May

  May pledges right-to-buy plan to boost UK social housing

  

  Bloomberg UK Prime Minister Theresa May pledged a new right-to-buy program for social housing in an effort to boost home-building by local authorities and help alleviate a growing shortage of low-cost housing. Councils and housing associations will be offered government funding to build homes along with permitting help from the Homes and Communities Agency, the Conservatives said in a statement. ...

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• 14 May

  World’s biggest container line reduces bond-market reliance

  

  Bloomberg The world’s biggest container shipping company and Denmark’s largest issuer of corporate bonds may rely less on debt markets in the near future. A.P. Moller-Maersk A/S has ample liquidity and plans to cut capital expenditure, both of which reduce the need for new bond sales, according to Chief Financial Officer Jakob Stausholm. He also pointed to the century-old conglomerate’s ...

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• 14 May

  Faster German growth affirms euro-area pickup

  

  Bloomberg German economic growth accelerated to the fastest pace in a year last quarter, underpinning assessments by Mario Draghi and the European Commission that the region’s recovery is getting stronger. The 0.6 percent expansion, up from 0.4 percent in the previous three months, was helped by a surge in investment, a slight increase in consumer spending and a pickup in ...

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• 14 May

  Fox ready to make concessions to win nod for Sky bid

  

  Bloomberg 21st Century Fox Inc., trying to seek government approval for its $15 billion deal for control of Sky Plc, is prepared to make concessions to UK regulators who are scrutinizing its suitability as a media owner, according to people familiar with the matter. The film and television company is willing to negotiate over remedies if necessary, including changes to ...

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• 14 May

  Gulf stocks slip as Q1 loss hits PetroRabigh

  

  Dubai / Reuters Most Gulf stock markets edged down on Sunday with Saudi Arabia dampened by a much wider first-quarter loss at PetroRabigh, while agreement between the International Monetary Fund and Cairo did little to help Egypt’s bourse. The Saudi stock index slipped 0.4 percent as PetroRabigh tumbled its 10 percent daily limit after reporting that its quarterly loss ballooned ...

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