February, 2017

• 26 February

  S Koreans cut spending as household income growth slows

  

    Bloomberg South Korean household income grew at the slowest pace on record last year and spending fell for the first time, underscoring the challenge facing policy makers as they try to ignite a sluggish economy. Households’ average monthly income increased 0.6 percent in 2016 from the previous year to 4.4 million won ($3,884), the smallest gain since the statistics ...

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• 26 February

  Singapore bourse to consider giving traders their ‘lunch break’ back

  

    Bloomberg Singapore stock traders may finally get their lunch break back. Singapore Exchange Ltd., which runs the city’s equity market, is considering reinstating the midday intermission, according to people familiar with the matter. SGX in 2011 scrapped the break, which lasted from 12:30 p.m. to 2 p.m. every day, in an effort to boost trading. The bourse is expected ...

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• 26 February

  Chinese group to pay record $2.2bn for Hong Kong land

    Bloomberg Two mainland Chinese companies outbid Hong Kong’s largest developers with a HK$16.9 billion ($2.2 billion) offer for a rare residential waterfront site, the highest price ever posted in a government land sale. Logan Property Holdings Co. and KWG Property Holding Ltd. beat 13 other bidders including Cheung Kong Property Holdings Ltd. and Sun Hung Kai Properties Ltd., according ...

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• 26 February

  From China’s factories to shopping cart, price hikes loom

  

    Bloomberg In China’s manufacturing heartland Guangdong, clock maker Dannol Electronics Co. is grappling with higher input costs stemming from tougher environmental regulations. Already squeezed by years of rising wage bills and intensifying domestic competition, the company recently increased asking prices by an average of 15 percent for new customers and plans to do the same with older buyers soon. ...

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• 26 February

  Berkshire profit climbs 15% to $6.29bn on investments

  

    Bloomberg Warren Buffett’s Berkshire Hathaway Inc. said fourth-quarter profit rose 15 percent, fueled by a gain on an investment in Dow Chemical Co. Net income increased to $6.29 billion, or $3,823 a share, from $5.48 billion, or $3,333, a year earlier, the Omaha, Nebraska-based company said in a statement. Operating earnings, which exclude some investment results, were $2,665 a ...

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• 26 February

  Mexican companies craft plan to sidestep US grain imports

  

    Bloomberg One of Mexico’s largest business groups is working on a bargaining chip ahead of talks to renegotiate the North American Free Trade Agreement: finding alternatives to the US for grain imports. The Consejo Coordinador Empresarial, one of the nation’s top business chambers, is examining countries such as Brazil and Argentina to add new sources for soy, corn and ...

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• 26 February

  ‘No chance Brazil’s govt can waive Oi debt’

    Bloomberg Brazil’s government can’t waive Oi SA’s debt with a local regulator and state-run banks, the communications minister said, denying the phone carrier a lifeline that would have helped it pull out of the biggest bankruptcy in the country’s history. “The govt can’t let go of resources, they are public resources, debt with thepublic administration,” Science and Technology Minister ...

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• 26 February

  Toronto housing market may need Vancouver-style cooling

  

    Bloomberg Toronto may require measures to cool its red-hot housing market similar to moves taken in Vancouver if interest rates don’t increase, said Royal Bank of Canada Chief Executive Officer David McKay. The head of Canada’s largest lender said Toronto housing is “running hot” and is fueled by a “concerning mix of drivers” that include lack of supply, continued ...

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• 26 February

  Fudged numbers won’t make the US grow faster

  

    The Soviet Union had a reputation for presenting fake economic statistics to the world, in order to avoid having its dysfunctional system look embarrassing in front of its rivals. But as the decline and collapse of the Soviet Union illustrates, it’s impossible to conceal poor economic performance forever. There are too many alternative data sources that will eventually show ...

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• 26 February

  Hedge fund has right on its side in French showdown

  

    Safran SA launched a weak counter-attack against hedge fund TCI Fund Management Ltd.’s opposition to its proposed 9.7 billion euro ($10.3 billion) takeover of Zodiac Aerospace. The French jet engine maker is still short on strategic and financial justifications for the deal. Nor has it addressed the strong common-sense argument for giving shareholders a simple vote on the whole ...

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