Auto Industry
Toyota Supplying Stations to Dealers for Sold-Out Hydrogen Car
Toyota Motor Corp. will supply temporary hydrogen stations to California dealerships selling its Mirai fuel-cell sedan as some buyers put off taking delivery of their cars until refueling infrastructure is set up.
BMW Widens Lead Over Lexus Even With Incentive Spending Cut
BMW widened its lead over Toyota Motor Corp.’s Lexus, which boosted incentive spending in November while the German brand cut back, as the three-way U.S. luxury-auto sales race enters the homestretch. Mercedes-Benz delayed its results a day, leaving the year-to-date standings in doubt.
Car Sales Hot Month: Has Auto Loan Demand Peaked?
Kelley Blue Book senior analyst Karl Brauer and Bloomberg’s Matt Miller discuss the strong economy’s boon for car sales with Alix Steel on “Bloomberg Markets.” (Source: Bloomberg)
VW's Billionaire Owners to Face Workers First Time Post-Scandal
Volkswagen AG’s billionaire owners are set to break their silence on Wednesday, more than two months after the carmaker’s admission to cheating on emissions tests, in a bid for workers’ support as the company seeks a path out of the scandal.
Ford Is Selling More Trucks, Fewer Cars
Bloomberg's Matt Miler reports on U.S. auto sales. He speaks on "Bloomberg Markets." (Source: Bloomberg)
Wall Street
UBS Traders May Face Sanctions in Probes
As many as seven UBS Group AG traders may face sanctions from Switzerland’s financial watchdog in the coming weeks, potentially the first individuals to be punished in the global currency-rigging scandal, said two people with knowledge of the situation. Bloomberg's Keri Geiger reports on "Bloomberg Markets." (Source: Bloomberg)
Prudential Offers Secret to Illiquid Markets: `Buy Good Stuff'
Michael Lillard, who oversees more than $500 billion as chief investment officer of Prudential Fixed Income, said bondholders must be prepared to keep securities for longer than in the past because it’s become tougher to enter and exit positions.
Jimmy John's CEO Abandons IPO, Saying He's Not a Wall Street Guy
Jimmy John’s, the sandwich chain with about 2,300 restaurants across the U.S., has shelved plans for an initial public offering.
Keeping Boutique Firms Out of Regulators' Reach
Tim Coleman, group head of restructuring at PJT Partners, discuss the positive impact of Wall Street regulation and looks to the year ahead in restructuring. He speaks on "Bloomberg ‹GO›." (Source: Bloomberg)
BlueCrest's Platt to Return All Client Money
Michael Platt, who runs the $8 billion BlueCrest Capital Management, will return all client money and instead focus on managing his own wealth and that of his partners and employees. PJT Partners Group Head of Restructuring Tim Coleman and Bloomberg's Christine Harper speak on "Bloomberg ‹GO›." (Source: Bloomberg)
Energy
How the Fed Has Backed Themselves Into a Corner
Bank of America Merrill Lynch Wealth Management CIO Mary Ann Bartels discusses the U.S. economy and Fed policy. She speaks on "Bloomberg Markets." (Source: Bloomberg)
Blankenship Jury Still Deadlocked in Mine Blast Safety Case
Jurors at former Massey Energy Co. Chief Donald Blankenship’s criminal trial in West Virginia said they’re still deadlocked on charges the coal executive plotted to ignore safety rules at a mine that exploded in 2010, killing 29.
Iraqi Kurdistan Delays Oil-Output Target on Cost of Fighting IS
Iraq’s Kurdish region, where Genel Energy Plc and DNO ASA pump oil, delayed a target to produce 1 million barrels a day as the cost of fighting Islamic State militants saps resources.
Argentina's Fernandez Ramps Up Spending Before Power Handover
Argentine President Cristina Fernandez de Kirchner has ramped up government spending even as she prepares to hand over power in 10 days, helping to widen a budget deficit for 2015 already expected to reach the highest in 33 years.
Xi in Africa as Continent Feels Most Pain From China Trade Slump
President Xi Jinping’s five-day trip to Africa comes as the continent suffers more than anywhere else from China’s slowing economic growth and an associated rout in the value of the region’s commodities exports.
Real Estate
Explore London’s Property Hotspots
Explore the world of London’s property market, using data from the U.K. Land Registry
John Zuccotti, Brookfield’s Operations Chairman, Dies at 78
John Zuccotti, a former New York City deputy mayor and chairman of global operations for Brookfield Asset Management Inc. who oversaw landmark Manhattan properties including the World Financial Center, has died. He was 78.
Proxy Rigging Alleged at Schorsch-Linked Firm Before Apollo Deal
An arm of Nicholas Schorsch’s investment empire pressured employees into rigging shareholder proxy votes, Massachusetts’ securities regulator alleged in a complaint filed Thursday.
Deutsche Bank Sells Frankfurt ‘Triangle’ Site to Gross & Partner
Deutsche Bank AG sold a property in central Frankfurt that’s set to become the German city’s biggest construction site to a local developer.
Swift Guilty Verdict in Spoofing Trial May Fuel New Prosecutions in U.S.
Commodities trader Michael Coscia was found guilty in a major victory for the government in its first test of a criminal spoofing law at trial.
Health Care
Starbucks Pulls Turkey Sandwich From West Coast Stores After E. Coli Scare
Starbucks Corp. pulled its holiday turkey panini sandwiches from 1,347 U.S. locations last week after they were hit by the same E. coli strain as Costco Wholesale Corp.
Venture Capital Should Pay Its Fair Share of Taxes, Altman Says
In the growing debate over how much investors should pay in taxes on capital gains, a prominent Silicon Valley venture capitalist just weighed in with a counterintuitive take: investors like him should pay more.
Target Goes Big on Discounts This Holiday Season, Bringing Some Headaches
Target Corp. Chief Executive Officer Brian Cornell has gotten more aggressive with holiday discounts during his second year of a turnaround effort, a strategy that is undercutting some rivals on price while also bringing headaches.
Gilead Plan Kept Hepatitis C Drug Prices High, Senators Say
Gilead Sciences Inc., whose hepatitis C drugs Harvoni and Sovaldi had U.S. sales of $13.3 billion in the last year, pursued high list prices for the drugs instead of trying to make the treatments widely available, two U.S. senators said in a report Tuesday.
UnitedHealth Says It Should Have Avoided Obamacare Longer
UnitedHealth Group Inc. should have stayed out of Obamacare’s new individual markets longer, the chief executive officer of the biggest U.S. health insurer said Tuesday, after announcing last month that it will take hundreds of millions of dollars in losses related to the business.