12 / 88
○ Luigi Lavazza snapped
up Mars’s cofee unit—
which makes Flavia tabletop
brewers and the Klix
vending system—for about
$650m
The deal gives the Italian
roaster a new U.S. customer
base and plants in North
America and the U.K.
○ The U.S. government
sued California for
crafting its own net
neutrality law after the
Federal Communications
Commission announced
in December 2017
that it would ditch the
policy. Federal attorneys
argue that broadband is
interstate commerce and
thus must be regulated at
the federal level.
9
Bloomberg Businessweek
October 8, 2018
GHOSN: MARLENE AWAAD/BLOOMBERG. 1040: DANIEL ACKER/BLOOMBERG. SULAWESI: DITA ALANGKARA/AP PHOTO
IN BRIEF
By Kyle Stock
○ Just after Tesla CEO
Elon Musk settled a suit
with the SEC, sales figures
released on Oct. 2 showed
the Model 3 is one of the
best-selling sedans in the
U.S. That doesn’t mean all
is well for the struggling
automaker. A short list of its
lingering challenges:
○A U.S. Department of Justice
investigation into Musk’s tweet about
taking the company private
○ Looming debt payments, including
$230 million due in November and
$920 million due in March
○ The expiration of the $7,500 federal
tax credit for EV buyers at the end of
this year
○ Headhunting for a chairman,
two board members, and a few
key executives
○ Replacing assembly-line tents
with actual factories
○ Updating the Models S and X, which
are six and three years old, respectively
○ Growing EV competition from
Audi, Jaguar, and Mercedes-Benz
○ Following a
New York
Times
investigation, tax
authorities in New York
state opened a probe
of President Trump and
his siblings’ handling of
their father’s real estate
empire. A Trump lawyer
said in a statement that the
allegations are false.
○ A near-collision between
naval vessels in the
South China Sea raised
tensions between the U.S.
and China. A spokesman
for the U.S. Navy called
China’s conduct “unsafe
and unprofessional,”
while Beijing accused the
U.S. of violating China’s
“indisputable sovereignty.”
○
Amazon.comraised its
minimum wage in the U.S. to
$15
an hour, a nod to consumer
pressure and the tightening
labor market. It also said it’s
eliminating stock awards
and monthly bonuses for
some hourly employees
but maintains that workers
will still see an increase in
overall pay.
○ India seized control of
Infrastructure Leasing
& Financial Services, a
shadow banker whose
defaults on $12 billion of
debt are sending ripples
through the country’s
finance sector.
○ Aid workers shifted from rescue to relief eforts following the massive
earthquake and tsunami that hit Indonesia on Sept. 28, devastating the island of
Sulawesi. At least 1,400 people died in the disaster, a total that’s likely to rise.
○ Danish carrier Primera Air declared bankruptcy on Oct. 1, leaving some passengers and crew stranded in North America.
○ Prime Minister Theresa May called for pragmatism at a Tory conference, as her party continued to quarrel about Brexit.
○ Honda said it would invest $2.8 billion in General Motors’ self-driving-vehicle unit, valuing the business at $14.6 billion.
○ Beyoncé lost a trademark infringement lawsuit against the Feyoncé line of apparel and home goods.
○“If youdon’t
find the solution,
it’sbecause
youdidn’t see the
real problem.”
Renault CEO Carlos Ghosn shared leadership lessons in an interview
with Bloomberg TV’s Francine Lacqua at the Paris Auto Show.