April, 2017

• 27 April

  China N-plant crucial for Westinghouse future

  

    Bloomberg The start-up of a nuclear power plant south of Shanghai later this year has a lot riding on it. It’ll be the first to use a new reactor designed by Westinghouse Electric Co., and its success is critical for the embattled company’s future. Development of the same AP1000 model has been disastrous for the firm in the US, ...

  Read More »
• 27 April

  Oil market rebalancing after OPEC-led cuts: Aramco CEO

    PARIS / Reuters The oil market is moving towards a balance between supply and demand with the help of an agreement reached between OPEC and other producers to cut production, the chief executive of Saudi Aramco said on Thursday. OPEC, Russia and other producers agreed to cut output by 1.8 million barrels per day (bpd) for the first half ...

  Read More »
• 27 April

  OPEC ministers to meet Russia to push extending cuts

  

    Bloomberg The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply. Saudi Minister of Energy and Industry Khalid Al-Falih said that he will talk with Russia’s Alexander Novak by phone this week and meet ...

  Read More »
• 27 April

  Nokia sales top estimates as network slump begins to ease

  

    Bloomberg Nokia Oyj reported first-quarter sales that topped analysts’ estimates as a slump in wireless-network demand began to ease and the company reaped more revenue for its patents. Revenue fell 4 percent to 5.39 billion euros ($5.9 billion), the Finnish network-equipment maker said on Thursday. Analysts predicted 5.28 billion euros, the average of estimates compiled by Bloomberg. Earnings of ...

  Read More »
• 27 April

  Exports, investment boost S Korea economy

  

    Bloomberg South Korea’s economic growth accelerated in Q1 as a recovery in exports supported investment. Construction investment expanded, while consumption growth remained subdued. Gross domestic product expanded 0.9 percent in first quarter from previous 3 months, when it rose 0.5%, Bank of Korea said. The median estimate of economists surveyed by economists was for 0.8% growth. From a year ...

  Read More »
• 27 April

  China bike wars drive Didi, Tencent into rival camps

  

    Bloomberg Didi Chuxing may be going up against its own patron, Tencent Holdings Ltd., by picking a rival side in China’s cut-throat bike-rental industry. China’s largest ride-hailing service said on Thursday it has integrated Ofo’s service into its own mobile app, granting the startup access to some 400 million users across 400 Chinese cities that use Didi to summon ...

  Read More »
• 27 April

  China’s $290bn new area lifts hope for better cities

  

    Bloomberg China’s plan to build a new city about two hours drive from Beijing has raised hopes it may catalyze better urban design across the nation, enhancing economic efficiency and cutting air pollution. The potential for gains is huge in a country where tens of millions of rural residents will move into urban areas by the end of the ...

  Read More »
• 27 April

  S’pore $718mn innovation fund to drive growth

  

    Bloomberg Singapore is creating a S$1 billion ($718 million) fund to help innovative companies develop their businesses and expand overseas, part of the city state’s drive to boost economic growth. The Makara Innovation Fund — a collaboration between the Intellectual Property Office of Singapore and local private equity firm Makara Capital — will invest S$30 to S$150 million each ...

  Read More »
• 27 April

  Maruti Suzuki boosts profit with higher-priced models

  

    Bloomberg Maruti Suzuki India Ltd.’s decision two years ago to start a separate network of premium showrooms is starting to pay off, as India’s biggest automaker reaps higher sales of more expensive models. The unit of Japan’s Suzuki Motor Corp. said an increase in share of “higher-segment models” and running factories at full capacity helped boost net income by ...

  Read More »
• 27 April

  PayPal excites investors as partnerships deliver profit

  

    Bloomberg PayPal Holdings Inc. CEO Dan Schulman is getting investors to embrace his strategy of converting the online payments platform into a digital wallet, even if it requires deal-making that may diminish profit margins. The company reported first-quarter results that showed Schulman’s strategy is working and raised its annual forecast. Sales and profit topped analysts’ projections as PayPal added ...

  Read More »