Bloomberg The US and its Western allies at the United Nations sharply criticised China’s treatment of its ethnic Uighurs, stepping up pressure over human rights just as Washington and Beijing seek to complete a “phase one†deal in their lingering trade dispute. “We call on the Chinese government to uphold its national laws and international obligations and commitments to respect ...
Read More »Lebanon planning to impose capital controls amid crisis
Bloomberg Calls are mounting for Lebanon to impose formal restrictions on the movement of money to defend the country’s dollar peg and prevent a run on the banks when they open their doors after nationwide protests. Banks have been closed since the start of the uprising two weeks ago and only plan to reopen once the political situation stabilises. The ...
Read More »Johnson gets snap vote to fix Brexit crisis
Bloomberg The UK will hold an emergency election in six weeks’ time, in a critical poll that could finally settle the question of Brexit. Prime Minister Boris Johnson won backing in parliament to trigger the snap vote in an attempt to break the deadlock that has paralysed the country’s politics, weighed on its economy and left its citizens angry and ...
Read More »Dozens blinded by Chile police in protest crackdown
Bloomberg Dozens of Chileans have been partially blinded by rubber projectiles and gas canisters that police and soldiers fired into crowds of protesters — maimings that threaten to destroy what little common ground is left in a nation racked by the worst civil unrest in a generation. More than 140 people have suffered eye injuries since protests started on October ...
Read More »Protests around the globe have one thing in common
Bloomberg Hong Kong martial arts guru Bruce Lee urged followers to “empty your mind, be formless, shapeless like water.†That philosophy has driven months of anti-government unrest in Hong Kong. And it applies to protest movements elsewhere that are operating with quick-changing tactics and without clear leadership. Mass demonstrations are not new. Anti-war and anti-nuclear protests swept the globe decades ...
Read More »India’s Vodafone Idea seeks debt revamp as losses soar
Bloomberg Vodafone Group Plc’s Indian venture, reeling under $14 billion of net debt, mounting losses and dwindling subscribers, has approached creditors for better payment terms to revive the sinking carrier, people with direct knowledge of the matter said. Vodafone Idea Ltd, formed by last year’s merger of the British telecommunications firm’s local unit with billionaire Kumar Mangalam Birla’s Idea Cellular ...
Read More »HK’s housing sales jump as first-time buyers given boost
Bloomberg Hong Kong’s move to make it easier for first-time home buyers to break into the world’s least-affordable housing market has had an immediate effect, with sales surging in the past two weeks. Sales in the secondary market have more than doubled since mortgage rules for first-time buyers were eased mid-October, Midland Realty Ltd said. Primary home sales are also ...
Read More »India may hike levy on palm oil imports
Bloomberg India, the world’s biggest buyer of palm oil, is considering a proposal to further increase import taxes on the refined variety to boost local processing and cut dependence on overseas purchases, according to people with knowledge of the matter. The government is discussing a proposal to impose a new levy in addition to the existing import duty and raise ...
Read More »China’s electric carmakers battle for survival after subsidies scaled back
Bloomberg When Elon Musk’s Tesla Inc delivered positive earnings few saw coming last quarter, China’s top electric carmakers were weathering a historical contraction in demand. Warren Buffett-backed BYD Co, the country’s biggest maker of new energy vehicles — all-electric, fuel-cell and plugin hybrid cars — just reported an 89% slump in third-quarter earnings and warned profit could fall as much ...
Read More »Honda, Hitachi to form $17bn car parts maker in merger
Bloomberg Honda Motor Co and Hitachi Ltd agreed to merge four of their car parts businesses to create a components supplier with almost $17 billion in sales, joining a wave of partnerships sweeping the global auto industry. Honda, Japan’s second-biggest carmaker, and Hitachi, one of the country’s biggest industrial conglomerates, said they will combine Hitachi Automotive Systems and Honda affiliates ...
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