January, 2017

• 19 January

  Rustbelt China province admits it faked fiscal data

    Bloomberg The rust-belt province of Liaoning fabricated fiscal numbers from 2011 to 2014, local officials have said, raising fresh doubts about the accuracy of China’s economic data just days ahead of the release of the nation’s full-year growth report. City and county governments in the northwestern region committed fiscal data fraud in the period, Governor Chen Qiufa said at ...

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• 19 January

  South Korea’s lifelong and conflicted ties with Samsung

  

    SEOUL / AP The family smartphones? An assortment of Samsung Galaxies. The flat-screen TV that illuminates the living room? A Samsung SUHD, with the brand name sparkling on the nameplate. The maker of the digital toilet seat? You guessed it: Samsung. It’s difficult for people outside South Korea to fully grasp what Samsung, a truly global brand, means inside ...

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• 19 January

  Toshiba mulls spinoff of memory-chip business

  

    Wiesbaden / AFP Toshiba Corp., facing billions of dollars of writeoffs in its nuclear business, is considering spinning off its well-performing flash-memory unit to raise funds. Toshiba is considering an infusion of cash as part of the spinoff, said Kaori Hiraki, a spokeswoman for the Tokyo-based company. While a spinoff is one of the options, nothing has been decided ...

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• 19 January

  Metals tycoon plans to make e-vehicles in India by 2020

    Bloomberg JSW Group, an Indian conglomerate with interests in metals to power generation, plans to venture into electric cars by 2020 on expectations the government will promote such vehicles and falling battery prices will make them more affordable. The Mumbai-based group will set up the electric-vehicle business on its own and initially buy batteries from suppliers, Chairman Sajjan Jindal, ...

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• 19 January

  Russian business world hopes for relief from Trump regime

  

    Bloomberg Few people are more eager for Donald Trump’s arrival in the White House than those who do business in Russia. Hacking scandals? They expect that to blow over. Conflict in Ukraine? An artificial problem invented by Barack Obama, they argue. Russian magnates and American investors alike are anticipating a Trump administration that removes punishing sanctions, frees up access ...

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• 19 January

  California warns of break from Washington on clean-air rules

  

    Bloomberg California sent a warning shot in a potential showdown with the incoming Trump administration, with the state’s clean-air regulators digging in on mandates for an ever-greater number of electric and fuel-cell cars. The staff of California’s Air Resources Board called national efforts to promote electrification “very modest” after 2025 as it released a more than 660-page report on ...

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• 19 January

  WeWork plans S America expansion amid worldwide co-working boom

  

    Bloomberg WeWork Cos., the world’s largest co-working startup, is preparing to enter Argentina and Brazil while scouting potential sites in nearby countries as part of an expansion in Latin America. The New York-based shared-office startup, which was most recently valued at $16 billion, plans to open two locations in Sao Paulo in June, as well as at least one ...

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• 19 January

  Greenwich luxury-home sales quicken as sellers haggle on prices

  

    Bloomberg Luxury residences in Greenwich, the Connecticut town that’s home to hedge funds and Wall Street executives, sold at a quicker pace in the fourth quarter as owners became more amenable to negotiating on price. Homes that sold in the top 10 percent of the Greenwich market — those priced $3.79 million or higher — spent an average of ...

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• 19 January

  Safran to buy Zodiac in €10bn deal

  

    Bloomberg Aircraft-engine maker Safran SA agreed to buy plane-seat supplier Zodiac Aerospace SA for almost 10 billion euros ($10.5 billion) in an all-French deal that will unite two of the country’s biggest aerospace groups. Safran will offer 29.47 euros per share in cash, 26 percent above Wednesday’s close, the companies said on Thursday. If half of Zodiac’s equity is ...

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• 19 January

  Ryanair may scrap UK domestic routes post Brexit

  

    Bloomberg Ryanair Holdings Plc could cease flights within Britain once the country leaves the European Union, rather than take steps to comply with new regulations. As an Irish company, Europe’s biggest discount carrier could require a UK air operating certificate, or AOC, in order to continue domestic services there once Brexit is implemented, Chief Financial Officer Neil Sorahan said. ...

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