The 2010s saw the U.S. economy achieve its longest-ever expansion, with notable milestones such as 110 months of uninterrupted job gains and an unemployment rate near a half-century low becoming easy bragging points for politicians and economists alike.
(Bloomberg) — Huawei Technologies Co. will overhaul its management ranks after revenue growth slowed in the latter half of 2019, when U.S. sanctions spooked customers and suppliers around the globe.China’s biggest technology company recorded an 18% rise in sales to 850 billion yuan ($120 billion) this year, down from about 23% in the first half and missing its own internal targets. Huawei should brace for a similar hit in 2020 if the White House maintains curbs on the sale of software and circuitry it needs, like essential Android phone apps, Rotating Chairman Eric Xu said in a Tuesday memo to …read more […]
(Bloomberg Opinion) — It may have been the decade of smartphones, on-demand everything, and Instagram memes, but the prize for the world’s best-performing stock in the MSCI World Index(2) goes to a dairy company in New Zealand.How A2 Milk Co. managed to punch its way to a 16,150% return, in U.S. dollar terms, says a lot about global trends over the past 10 years. That growth now puts it at a market cap of $7.4 billion, a fraction of the $144 billion for Netflix Inc. (which returned 4,000%) but well ahead of comparably sized iconic department store chain Macy’s Inc.Much …read more […]
Let’s talk about the popular Barclays PLC (LON:BARC). The company’s shares led the LSE gainers with a relatively large… …read more […]
Turkish Airlines and Boeing have come to an agreement concerning compensation for certain losses caused by grounded and undelivered Boeing 737 Max aircraft, the Turkish airline said on Tuesday.
Dec.31 — NIO Inc. surged in U.S. trading after the Chinese electric-car maker paired better-than-expected quarterly results with a warning that it’s still running low on cash. China’s electric-car market is slowing as the government reduces subsidies, and competition is getting tougher with Tesla Inc. starting deliveries of its China-assembled Model 3 sedans. Bloomberg China correspondent and anchor Selina Wang has the story. …read more […]
(Bloomberg) — For many Indian tycoons, 2019 turned woeful as lenders — empowered by the nation’s recent bankruptcy law and desperate to clean up soured debt from their books — started seizing assets of delinquent firms or dragged them into insolvency.Indian banks wrote off a record $39 billion of loans in the 18 months through September in a bid to repair their balance sheets as they battled the world’s worst bad debt pile. Making matters worse, a shadow banking crisis led to a funding squeeze, crushing debt-laden businesses that were critically dependent on rollover financing.“Life has come a full circle …read more […]
Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged U.S.-China trade dispute and supply cuts.
JP Morgan Chase & Co is seeking 100% ownership of its futures joint venture in China, Bloomberg reported on Monday, citing a person familiar with the matter.
(Bloomberg) — The Hinduja Group is preparing a bid to buy grounded carrier Jet Airways India Ltd., according to people familiar with the matter.The U.K.-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the Jan. 15 deadline, signaling its intent to make a formal offer, the people said, asking not to be identified as the discussions are private. Hinduja is seeking a partner to bid, one of the people said.Shares of Jet Airways jumped as much as 6.9% in early Tuesday trading in Mumbai. The stock has plunged almost 90% this …read more […]
Former Nissan and Renault Chairman Carlos Ghosn, who was barred from leaving Japan whilst awaiting trial on charges of financial misconduct, on Tuesday said he was in Lebanon.
Ousted Nissan boss Carlos Ghosn has confirmed he is in Lebanon saying he refused to be “held hostage” by a “rigged” Japanese justice system, raising questions about how one of the world’s most-recognized executives exited Japan months before his trial.
(Bloomberg) — Oil is poised for the biggest yearly gain since 2016 as fresh geopolitical tensions erupted in the Middle East and as U.S. crude stockpiles are forecast to extend declines.Futures were steady in New York after easing slightly Monday from the highest close in three months. Iran detained a ship carrying smuggled fuel near the Strait of Hormuz following U.S. air strikes on five Iran-backed militia bases in Iraq and Syria. American crude stockpiles are forecast to fall for a third week, according to a Bloomberg survey before government data on Friday.Oil has gained more than 35% in 2019, …read more […]
Ousted Nissan boss Carlos Ghosn was in Lebanon as of Monday, according to a person familiar with the matter, raising questions about how one of the world’s most recognized businessmen exited Japan months before his trial.
Ride-hailing company Uber Technologies Inc and courier services provider Postmates Inc asked a U.S. court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the U.S. Constitution.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
