Bloomberg Separatist campaigners targeted Catalonia’s transportation networks in protests held to mark the anniversary of an illegal independence referendum held a year ago. Protesters blocked the AP-7 highway at Vandellos, a town 140 kilometers (87 miles) south of the regional capital Barcelona, the Catalan Traffic Service said on its Twitter account Monday. The high speed train service from Figueres to ...
Read More »Brexit: May faces Tory fire as Hammond blasts Boris Johnson
Bloomberg Prime Minister Theresa May faces the battle of her political life to retain control of the governing Conservative Party as top Tory politicians undermined her leadership. After arch rival Boris Johnson went for the jugular, Chancellor Philip Hammond swept in to defend her in an increasingly chaotic political scene. May arrived at her party’s annual conference in Birmingham needing ...
Read More »â€˜Nissan’ drives another nail in Detroit sedan coffin
Bloomberg When Nissan Motor Co.’s redesigned Altima flagship goes on sale this week, it will pound another nail in the coffin of sedans built by companies based in and around Detroit — the city that invented the whole idea of family cars. Fiat Chrysler Automobiles NV stopped building sedans in the US two years ago. Ford Motor Co. plans to ...
Read More »Singapore home prices rise despite curbs
Bloomberg Singapore private home prices are still inching higher —albeit at the slowest pace in five quarters — even after the government imposed additional property curbs to avoid the risk of a sharp correction that could be destabilising to the city-state’s economy. An index tracking private residential prices increased 0.5 percent in the three months ended September 30 compared to ...
Read More »Nafta deal could be a relief for Canada exports of Toyota, Honda
Bloomberg The US and Canada’s trade deal could spell relief for car manufacturers thousands of miles across the ocean. Toyota Motor Corp. and Honda Motor Co. are among the automakers that would have the most to lose by any additional tariffs, as the Japanese giants build vehicles in Canada for the US market. Those include the RAV4, Toyota’s best-selling sport ...
Read More »China prepares unprecedented online tourism regulation
Bloomberg China has drafted sweeping regulations targeting online travel agencies and platforms based in the country after a deadly boating accident involving Chinese tourists in Thailand fueled claims of lax oversight, according to a person familiar with the matter. The regulation by China’s Ministry of Culture and Tourism would mandate that online travel providers improve rescue and emergency plans, better ...
Read More »GE’s $500bn market ‘loss’ is like erasing Facebook
Bloomberg On August 28, 2000, Apple’s hottest product was a candy-coloured computer, Donald Trump was a New York real estate mogul and General Electric was worth some $600 billion. Apple and Trump have gone on to greater things. GE? It’s on the verge of a staggering milestone: a half-trillion dollars in market value wiped out since that all-time high 18 ...
Read More »Tesla shares rise as SEC lets Musk stay in CEO role
Bloomberg Tesla Inc. jumped in pre-market trading after founder Elon Musk settled a lawsuit brought by regulators over his August tweet storm, reassuring investors he’ll still be calling the shots at the electric-car maker struggling to meet production goals. Under the agreement with the US Securities and Exchange Commission, Musk and the company each will pay a $20 million penalty, ...
Read More »Aston Martin pares IPO targets ahead of listing
Bloomberg Aston Martin pared back its supercharged stock-market ambitions ahead of a planned initial public offering this week, lowering the top end of its targeted range by about 11 percent. The new goal is 18.50 to 20 pounds ($24-$26) per share, the luxury car maker said in an emailed term sheet. Previously, the company had set a range of 17.50 ...
Read More »UK manufacturing growth picks up
Bloomberg UK manufacturing growth unexpectedly picked up in September, rounding off the third quarter on an upbeat note. IHS Markit’s Purchasing Managers Index rose to 53.8 from a revised 53 in August and beating estimates for a drop to 52.5. Growth in output and new orders accelerated, while exports saw a modest recovery after a slump the previous month. “September ...
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