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FOCUS-Ford bets on an electric Mustang to charge its turnaround

The Mustang Mach E electric sport utility vehicle Ford Motor Co unveiled in Los Angeles on Sunday is more than another car for the storied automaker. The Mach E has become within Ford a high-profile test for a restructuring that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport utility. For Chief Executive Jim Hackett, the Mach E’s aggressive design and futuristic interior represent a long-awaited, visible sign of the overhaul of the company’s product creation process he has tried to explain to skeptical …read more […]

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What Are the Biggest Challenges for Sri Lanka's New President?

Nov.17 — Chulanee Attanayake, visiting research fellow at the Institute of South Asian Studies of the National University of Singapore, talks about China-friendly Gotabhaya Rajapaksa’s victory in Sri Lanka’s bitterly contested presidential election. Attanayake speaks with Juliette Saly and Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]

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Microsoft updates terms on data privacy amid EU probe

Microsoft said on Monday it was updating the privacy provisions of its commercial cloud contracts after European regulators found its deals with European Union institutions failed to protect data in line with EU law. The EDPS, the EU’s data watchdog, opened an investigation in April to assess whether Microsoft’s contracts with the European Commission and other EU institutions met data protection rules. …read more […]

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Peter Thiel Announces $150 Million Palantir Japan Joint Venture

(Bloomberg) — In a rare show of public support, Palantir Technologies Inc.’s co-founder and chairman Peter Thiel pitched the power of the data-mining company during a splashy Tokyo event marking its formal entry into Asia and a deal with Sompo Holdings Inc.With the $150 million deal, funded 50-50 by Palantir and Sompo, the duo are inaugurating Palantir Technologies Japan Co. The new company will target government and public sector customers, emphasizing health and cybersecurit initially. Like IBM Corp. and other providers, Palantir’s software pulls together a range of data provided by its customers, mining it for patterns and displaying connections …read more […]

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China cuts key liquidity rate for first time since 2015

China’s central bank unexpectedly trimmed a key interbank lending rate on Monday, the first easing in the liquidity tool in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth. The People’s Bank of China (PBOC) said on its website that it was lowering the seven-day reverse repurchase rate to 2.50% from 2.55%. The move cheered China’s bond market and comes just two weeks after the PBOC cut the borrowing cost on its medium-term lending facility (MLF) loans by the same margin. …read more […]

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Common Sense Wins in India Bankruptcy Case

(Bloomberg Opinion) — Two- and-a-half years after the Indian central bank took the highly unusual step of directing banks to put 12 large corporate debtors into bankruptcy, the most closely watched of the “distressed dozen” cases has finally been resolved.With the Supreme Court in New Delhi clearing the decks for the sale of Essar Steel India Ltd., the Ruia family has accepted defeat. Control of the 10 million-tons-a-year integrated plant in western India will pass to ArcelorMittal, which will pay banks 420 billion rupees ($5.9 billion), or 90% of their claims.This final episode of a drawn-out legal saga, in which …read more […]