October, 2016

• 31 October

  Japan largest shippers to merge container lines

  

    Bloomberg Japan’s three biggest shippers agreed to combine their container operations to create the world’s sixth-largest box carrier, as the industry steps up consolidation this year amid a global turmoil in the sea-cargo business. Nippon Yusen KK, Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd., which are predicting operating losses this year, will create a company that will ...

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• 31 October

  Sony cuts forecast on impairment for sale of battery unit

  

    Sydney / AFP Sony Corp. cut its annual profit forecast by 10 percent after taking an impairment on the sale of its battery unit in the latest move by the consumer electronics giant to focus on its most lucrative businesses. Operating income will be 270 billion yen ($2.6 billion) in the 12 months ending March, down from a projection ...

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• 31 October

  Honda increases full-year profit forecast

  

    Bloomberg Honda Motor Co. raised its forecast for full-year profit as demand for Vezel and XR-V sport utility vehicle models surged in China, the carmaker’s second-largest market. Net income will probably rise to 415 billion yen ($3.96 billion) in the fiscal year ending in March, more than the 390 billion yen forecast in May, according to a statement from ...

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• 31 October

  Korea to spend $9.6bn to support shipbuilding

  

    Bloomberg South Korea, home to the world’s three biggest shipbuilders, plans to spend about 11 trillion won ($9.6 billion) by 2020 to help the industry amid a dearth of new orders and prolonged losses. The government intends to order more than 250 vessels and provide about 6.5 trillion won in financing support to strengthen shipping companies’ efficiency through the ...

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• 31 October

  Euro-area economy steady as ECB mulls stimulus extension

  

    Brussels / AFP Euro-area growth stayed its course in the third quarter, a sign the European Central Bank’s efforts to revive the economy have borne fruit even in the face of inadequate structural reforms. Gross domestic product rose 0.3 percent in the three months to September, according to an initial estimate published by the European Union’s statistics office on ...

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• 31 October

  GE & Baker Hughes to create $32 billion oil-services giant

  

    Bloomberg General Electric Co. agreed to combine its oil and gas business with Baker Hughes Inc., creating an industry giant with a broader suite of offerings amid the ongoing slump in crude prices. GE will own a 62.5 percent stake in the combined provider of oilfield services, which will be publicly traded and have $32 billion in sales, the ...

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• 31 October

  UK to see another tech IPO as FreeAgent aims to list in London

    Bloomberg UK software company FreeAgent Holdings Ltd. has said it plans an initial public offering on the London Stock Exchange’s AIM market for small, growth-oriented companies. Edinburgh, Scotland- based FreeAgent provides cloud-based accounting software for what it calls “micro-businesses,” a term it defines as companies with fewer than 10 employees. Its decision to float bucks strong headwinds in the ...

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• 31 October

  Nissan likely to win US auto sales

  

    Bloomberg When US auto sales numbers arrive on Tuesday, Nissan Motor Co. is expected to look pretty good — or at least less bad than its competition. The Japanese automaker’s sales slipped just 1.5 percent in October, compared with drops of 6.9 percent for General Motors and 11 percent for Ford, analysts estimate. Behind Nissan’s result, though, is a ...

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• 31 October

  Region rises as Saudi gains for ninth day on easing liquidity

  

    Reuters Major stock markets in the Middle East rose slightly on Monday, outperforming sluggish bourses in Asia and Europe, as Saudi banks continued rebounding on the back of October’s huge international bond issue by their government. The bond issue has allowed the government to suspend, at least temporarily, domestic bond sales and, in conjunction with other steps, this has ...

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• 31 October

  US political uncertainty weighs on global stocks

  LONDON / AP The revelation that the FBI has opened a new investigation into U.S. presidential candidate Hillary Clinton’s private email server weighed on global stock markets on Monday, a little more than a week from election day. Investors around the world also have a raft of potentially market-moving data and events to monitor this week, culminating with Friday’s U.S. ...

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