Bloomberg Japanese Prime Minister Shinzo Abe said he doesn’t see a need to raise the nation’s sales tax beyond 10 percent over the next 10 years, a stance that could hamper the government’s efforts to put the nation’s finances in order. “I don’t think there’s a need to raise it for the foreseeable future, for example, the next 10 years ...
Read More »Coal to dominate India power output to 2030
Bloomberg Coal may account for half of India’s power generation in 2030 despite a boom in solar and wind energy projects, according to analysis by the country’s power-planning body. The assessment, released by the nation’s Central Electricity Authority (CEA), highlights that the nation has a large existing fleet of coal plants and that there’s a mismatch between peak periods of ...
Read More »Vijay Mallya says he’s lightning rod for public anger
Bloomberg Indian businessman Vijay Mallya won the right to challenge extradition to his home country, at a hearing where he said he’s been turned into “the personification of all of India’s financial ills†and risks being held in a rat-infested, overcrowded jail cell. Mallya, the former billionaire who was known as the “King of Good Times†in India, is fighting ...
Read More »HP, Dell to shift up to 30% of laptop outout from China
Bloomberg HP Inc and Dell Technologies Inc plan to move as much as 30 percent of their notebook production away from China, the Nikkei cited anonymous sources as saying, as global technology giants scramble out of the way of escalating tariffs on US-bound goods. Microsoft Corp, Amazon.com Inc, Sony Corp and Nintendo Co are also looking to move some of ...
Read More »Tesla soars as Model 3 paces record quarter for deliveries
Bloomberg Tesla Inc shares surged as a record quarter of deliveries alleviated the worst fears about demand for the Elon Musk-led company’s electric vehicles. The Model 3 maker handed over 95,200 cars to customers in the three months that ended in June, exceeding the previous best mark set in the last quarter of 2018. Tesla’s delivery count exceeded all but ...
Read More »French police raid Renault HQ as part of Ghosn’s probe
Bloomberg French police raided Renault SA’s headquarters outside Paris to gather evidence for an investigation related to spending by former Chairman Carlos Ghosn. A spokesman for Renault confirmed the police presence following a report by L’Express, while an official at the prosecutor’s office didn’t immediately respond to requests for comment. French investigators opened a probe earlier this year into whether ...
Read More »Unite buys UK’s Liberty Living for $1.8b
Bloomberg Unite Group Plc agreed to buy fellow UK student-housing provider Liberty Living Group Plc for $1.8 billion in cash and shares. Unite is buying the assets from the Canada Pension Plan Investment Board, which will have a 20 percent stake in the group when the deal is completed in the third quarter, according to a company statement. Unite proposed ...
Read More »Alcoa’s workers accept offer, ‘exhausted’ from 18-month dispute
Bloomberg An 18-month labour dispute at an aluminum smelter in Quebec controlled by Alcoa Corp ended after workers accepted a deal, defying the recommendation of their union’s leadership. About 80 percent of workers at the Becancour plant voted to ratify the offer after a meeting of the United Steelworkers in Trois-Rivieres, Quebec, the union said. Alcoa said it expects the ...
Read More »Trump’s tariff barrage forces EU into a corner
Is there any method to Donald Trump’s madness on trade? Politicians and investors are all struggling to make sense of the US president’s tendency to stop, go, and reverse course in his dealings with China and Europe. Financial traders went to sleep basking in the glow of a trade truce with Beijing. They woke up to the news that the ...
Read More »The wrong way to protect privacy
Members of Congress are finally getting serious about protecting privacy online. If only they had some better ideas on how to do so. The latest entrant is a bill sponsored by Senators Josh Hawley and Mark Warner. Among other things, it would require big tech platforms such as Facebook and Google to tell users how much money their personal information ...
Read More »