March, 2017

• 16 March

  Toyota to upgrade UK carmaking plant as Brexit decision looms

  

    Bloomberg Toyota Motor Corp. plans to upgrade its UK carmaking plant in a sign that concerns about Brexit won’t derail its investments in the country for now. The world’s second-biggest auto manufacturer will spend 240 million pounds ($294 million) to update equipment and technology at a factory in Burnaston, England to allow the production of models on its latest ...

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• 16 March

  Housing construction in US climbs to four-month high

  

    Bloomberg Beginning construction of US houses climbed to a four-month high in February, led by the strongest pace of single-family homebuilding in nearly a decade. Residential starts advanced 3 percent to a 1.29 million annualized rate, a Commerce Department report showed on Thursday. The median forecast of economists surveyed by Bloomberg was 1.26 million. Construction of one-family dwellings rose ...

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• 16 March

  Fox-Sky deal sent to regulators for review

  

    Bloomberg The UK government intervened in 21st Century Fox Inc.’s 11.7 billion-pound ($14.4 billion) bid to take over Sky Plc, asking regulators to report back within 40 working days on how the deal would affect public-interest issues. “Today, I have issued a European Intervention Notice on the grounds of media plurality and commitment to broadcasting standards,” UK Culture Minister ...

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• 16 March

  Trump signals openness to changes on Obamacare replacement

    Bloomberg President Donald Trump said that he’s open to negotiation on the Republican plan to repeal and replace the Affordable Care Act, as conservative and moderate GOP lawmakers push changes to the proposal. Trump was asked by Fox News’s Tucker Carlson whether the legislation, called the American Health Care Act, was the best Republicans could do after seven years ...

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• 16 March

  It’s time to hit pause on China panic

  

    China’s National People’s Congress, which concluded on Wednesday, didn’t do much to ease the main worry about the world’s second-biggest economy: its large and growing pile of debt. In fact, to keep GDP growth ticking over at 6.5 percent or more, Chinese Premier Li Keqiang pledged a 12 percent expansion in credit this year. That implies about $2.7 trillion ...

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• 16 March

  Zara is falling to earth

  

    Even Inditex SA can’t defy gravity forever. The Spanish owner of the Zara fashion chain is still delivering the sort of sales growth rivals can only dream about. Same-store sales rose 10 percent in the year through January, the fastest rate in 14 years. By contrast, many competitors are struggling to generate growth on the same basis. But the ...

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• 16 March

  Why garbage dumps are so dangerous

  

    When a mountain of trash collapsed at the fetid Reppi dump outside of Addis Ababa on Monday, at least 82 people died. It could’ve been worse: Hundreds of people live atop Reppi, Ethiopia’s biggest waste dump, trying to make a living from salvaging what city residents throw away. Despite well-known dangers, and the best efforts of the government, they’ve ...

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• 16 March

  Deutsche Bank weighs sale of Indian retail business

  

    Bloomberg Deutsche Bank AG is weighing the sale of its Indian retail businesses as the German lender considers asset disposals to help boost capital levels, two people with knowledge of the matter said. The bank is also considering selling retail operations in European countries including Spain, the people said, asking not to be identified as the plans aren’t public. ...

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• 16 March

  Westpac, ANZ to pay $2.3mn over FX trading conduct

  

    Bloomberg Two of Australia’s largest banks vowed to toughen oversight of their foreign-exchange practices and each pay A$3 million ($2.3 million) to the nation’s financial literacy fund after a regulator found inappropriate conduct in their currency trading divisions. Westpac Banking Corp. and Australia & New Zealand Banking Group Ltd. said on Wednesday they entered into so-called enforceable undertakings with ...

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• 16 March

  Emirates NBD Asset Management launches India equity fund with UTI Int’l

    Dubai / Emirates Business Emirates NBD Asset Management announced the launch of its Emirates Islamic India Equity Fund in partnership with UTI International, one of India’s largest money managers, following approval from the UAE Securities & Commodities Authority (SCA). The Fund aims to achieve medium to long‐term capital growth through direct investments in Shari’a compliant Indian equities. It will ...

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