Bloomberg Britain’s top judges moved out of the Houses of Parliament a decade ago. The 11 Supreme Court justices declared their independence from the building across the road by delivering a stinging rebuke to Boris Johnson. The panel, sitting in its own building in Westminster, positioned itself as the ultimate arbiter in a constitutional clash and reasserted that parliament is ...
Read More »Bouteflika’s brother, intel chiefs sentenced to jail
Bloomberg Former Algerian President Abdelaziz Bouteflika’s brother and two powerful former intelligence chiefs were sentenced on Wednesday to 15 years on charges of conspiring against the military, in an expedited trial authorities hoped would reflect a commitment to purging the old guard. The sentences against Said Bouteflika, retired Ltt Gen Mohamed Mediene and Maj Gen Athmane Tartag came just two ...
Read More »China economy struggling across all sectors: Report
Bloomberg China’s economy in the third quarter was the weakest it has been this year, according to the China Beige Book, with manufacturing, property and the services sectors all worsening, even as borrowing picked up. Manufacturing revenue, profits, volumes and sales prices fell by double-digit paces from the previous three months, although borrowing remained at its highest level, according to ...
Read More »Vietnam’s $5b plan to tamp down Trump’s tariff threats
Bloomberg Vietnam’s campaign to tamp down the Trump administration’s trade gap ire has come to a coastal commune better known for growing dragon fruit along one-lane potholed roads. The community could soon be home to a $5 billion liquefied natural gas project that would include an import terminal and gas-fired power plant and eventually import billions of dollars of US ...
Read More »Cows eat into sugar output in Indian state
Bloomberg Sugar output in India’s second-biggest producing region will be lower than expected after floods damaged crops and as some farmers sell cane for feed. Production in the western state of Maharashtra may total 5.2 million to 5.3 million tons in the year starting from October 1, compared with a previous estimate of 6.44 million tons, said Shekhar Gaikwad, the ...
Read More »China leads FDI recovery in Uganda
Bloomberg China was the leading source of planned foreign direct investment in the year ended-June, leading a recovery in the value of project approvals in Uganda. Chinese companies accounted for $607.3 million, or 45 percent, of the total planned investment projects cleared in the past financial year, the Uganda Investment Authority acting Director-General Lawrence Byensi said in an emailed statement. ...
Read More »Ford to put struggling India business into JV with Mahindra
Bloomberg Ford Motor Co is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said. Mahindra, one of India’s largest automakers, will own 51 percent of the new ...
Read More »China tourists head back to Thailand
Bloomberg The number of Chinese tourists visiting Thailand topped 1 million in August for the first time in six months, brightening an otherwise dim outlook for the nation’s economy. Chinese arrivals surged almost 19 percent to 1.03 million during the month compared with a year earlier, Tourism Ministry data showed. Overall visitor growth of 7.4 percent was the strongest this ...
Read More »Facebook defies antitrust warnings with ‘startup deal’
Bloomberg Facebook Inc sent a clear signal with its agreement to buy a brain computing startup: heightened regulatory scrutiny and intensifying antitrust probes won’t slow down its pace of acquisitions. With its announcement of plans to purchase CTRL-Labs for at least $500 million, Facebook continued its pattern of snapping up promising startups in new markets, the very behaviour that the ...
Read More »Aston Martin raises $150m to help fund SUV launch
Bloomberg Aston Martin Lagonda Global Holdings Plc raised $150 million in a steeply priced bond sale, responding to liquidity concerns as the luxury carmaker bets that a future SUV model will boost cash flow. The debt issue comes with a 12 percent coupon, double the cost of Aston Martin’s existing bonds. A further $100 million of notes could be available ...
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