Indian Prime Minister Narendra Modi’s ruling party on Friday slammed editorial policies of billionaire Jeff Bezos-owned Washington Post, even as his e-commerce firm Amazon announced plans to create a million jobs in the country by 2025.
(Bloomberg) — Stocks marched higher alongside U.S. equity futures on Friday as investors mulled earnings and economic data while maintaining the momentum that’s put global indexes at records highs this week. Treasuries slipped.The Stoxx Europe 600 Index opened higher, with all 19 industry groups advancing, after most of Asia’s main markets rose. Shares fluctuated in Shanghai after data showed Chinese industrial output beat estimates. Contracts on the S&P 500 Index also climbed, signaling the underlying gauge will add to the record close it hit after U.S. retail sales strengthend in December.Treasuries dipped, including longer-dated notes, after the U.S. announced plans …read more […]
French automaker Renault on Friday reported a 3.4% fall in 2019 worldwide sales to 3.75 million vehicles despite growth in Europe.
The world’s second-biggest fashion retailer H&M said on Friday it would expand to Central America, starting with a first store in Panama at the end of 2020.
Asian shares rose on Friday after data in China showed pressure on the world’s second biggest economy may be starting to diminish.
Bayer is close to settling more than 75,000 cancer claims related to its Roundup herbicide, mediator Ken Feinberg told Bloomberg in an interview, saying he was “cautiously optimistic” a deal could be reached in about a month. Feinberg was quoted as saying that the number of cases had grown to between 75,000 and 85,000 and “maybe more”. Bayer in October said it was now facing 42,700 U.S. plaintiffs blaming its glyphosate-based weedkillers for their cancer. …read more […]
(Bloomberg Opinion) — If you have to ask the price, you can’t afford it. No wonder Bernard Arnault, France’s richest man, isn’t disclosing the details of LVMH Moet Hennessy Louis Vuitton SE’s deal to carve up the second-biggest diamond ever recorded in the history books.On Thursday, Lucara Diamond Corp. said it had entered into a collaboration with LVMH that will see the 1,758-carat Sewelo diamond, which is roughly the size of a tennis ball, turned into Louis Vuitton jewelry. The stone’s name means “rare find.” LVMH is probably one of the few luxury groups that could pull off such a …read more […]
Volkswagen AG is set to take a 20% stake in Chinese electric vehicle battery maker Guoxuan High-tech Co Ltd , two sources told Reuters, as the German firm accelerates its electric push into the world’s largest auto market.
(Bloomberg Opinion) — Five years ago, in a routine display of trash talking, Tesla Inc.’s Elon Musk made a now infamous quip about how hard it is to manufacture automobiles.“Cars are very complex compared to phones or smartwatches,” he told German newspaper Handelsblatt. “You can’t just go to a supplier like Foxconn and say: Build me a car.”He may be proven wrong. Foxconn Technology Group, through its Hon Hai Precision Industry Co. unit, will establish a joint venture with Fiat Chrysler Automobiles NV, the Taiwanese company said in an exchange filing Thursday. While not yet signed, they expect their 50-50 …read more […]
(Bloomberg) — German rangers stand guard to shoo away visitors from a nondescript stretch of forest near Berlin, where a sign nearby warns of “Lebensgefahr” (mortal danger).The precautions are part of the frantic activity underway to set up Tesla Inc.’s latest assembly plant, Elon Musk’s most daring attack on the German auto establishment. Workers wielding metal detectors have started combing through an area covering some 200 football fields to search for errant ammunition lurking beneath the sandy surface of tiny Gruenheide.It’s the first stage to prepare a site that could churn out as many as 500,000 cars a year, employ …read more […]
(Bloomberg) — Facebook Inc. was sued by four potential competitors who accuse it of anticompetitive behavior and who asked a judge to order Chief Executive Officer Mark Zuckerberg to give up control of the social media behemoth.The companies also said if Facebook isn’t forced to sell its WhatsApp and Instagram assets, it’ll integrate them into the social network, “consolidating its market power across the globe, likely permanently foreclosing competition in the relevant markets for decades to come.”The lawsuit was filed Thursday in San Francisco by Reveal Chat HoldCo LLC, a successor to the dating site LikeBright; USA Technology and Management …read more […]
Oil prices were steady on Friday as reports of sluggish economic growth in China, the world’s biggest crude importer, raised concerns about future fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week.
(Bloomberg) — Chief Justice John Roberts made his first appearance in the Senate chamber Thursday to swear in the senators for President Donald Trump’s impeachment trial, which is set to begin Tuesday.Here are the latest developments:Parnas Makes More Accusations on Ukraine (10 p.m.)Lev Parnas, a former associate of Rudy Giuliani, said that then-Energy Secretary Rick Perry told Ukraine’s president that he had to announce an investigation into former Vice President Joe Biden and the energy company that had Biden’s son as a board member.Perry went to Ukraine with that message last May when he attended the inauguration of President Volodymyr …read more […]
Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told Reuters.
China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.
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