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Johnson & Johnson Agrees To Pay, Trump May Impose More Tariffs on China et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Sep 8, 2018 12:25 PM 2 min read
Editorial

Good evening readers, policy narratives go up and down in waves. Electric Vehicles being one of them. I recall in mid last year when India's Transport Minister Nitin Gadkari launched a charged attack against the auto industry, saying he will "bulldoze" their units unless they start focusing on EV. 

 

India took an ambitious challenge of converting 100% of its public transport into electric by 2030. Plans to introduce a National EV policy were announced. Tata Motors and Mahindra won an order to make 10,000 EVs for a government body. ISRO was apparently pushing for a R&D push in the area of battery technologies. Come 2018 and the noise fizzled out...The idea of the EV policy was conveniently dropped in February. Investors became wary. Big Auto calmed down, going in hibernation mode. 

 

Well the buzz has been reignited now in the Global Mobility Summit this week. All the right things have been once more said. Fancy presentations, impressive panels, all the works. Is it merely a rehash of political rhetoric in the run-up to 2019? 

 

Who knows... 

 

Well we do know you'd like to review these top 6 business stories though. Today's End Of Day Wrap Up: 

 

INDIA

 

NCLAT finds Numetal's 2nd bid for Essar Steel valid. ArcelorMittal on backfoot as it needs to clear dues by Tuesday to become eligible bidder.

ArcelorMittal presently an unqualified bidder being a promoter of defaulting firms. NCLAT maintains they need to clear due against Uttam Galva and KSS Petron to become eligible to participate in the Essar Steel process. Present rules do not permit promoters of an NPA for more than a year to submit a resolution plan.

 

IL&FS seeks a loan of INR3,000cr from shareholders LIC and SBI.

Loan required to ensure IL&FS does not default on any further repayment obligation. Consolidated debt amounts to INR1L cr. Lone Star, I Squared Capital and National Infrastructure Fund may buy its road projects.

 

Transport Minister Nitin Gadkari says regulatory clearances for EV based public transport to become easier.

Fleet could be launched for the Transport for London (TfL) model, which uses PPP to put 17 operators under a single umbrella.

 

US Healthcare company Johnson & Johnson agrees to compensate patients for faulty hip implants in India.

Government panel recommends compensation of at least INR20L to each patient to an estimated 4,700 patients.

 

US / INTERNATIONAL

 

Alibaba Group Chairman Jack Ma says he will step down from his role on Monday.

Jack Ma to stay on Board of Directors but will pursue philanthropic opportunities, including create a foundation in his name on education. He will turn 54 on Monday. His business interests encompass e-commerce, online banking, cloud computing, digital media & entertainment etc.

 

US President Donald Trump said may he introduce tariffs on another $267 billion in Chinese goods. 

These tariffs would be in addition to the 25% tariff on $200bn of Chinese goods already in the pipeline. $50bn of Chinese goods already have a 25% tariff in place, implying the total potential tariff pool to amount to more than $500bn.

 

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