June, 2022

• 20 June

  HK bourse plans to allow multiple clearing banks for cash trades

  

  Bloomberg Hong Kong’s stock exchange is planning to allow cash market traders to use multiple banks to settle transactions, a move that will help diversify risks and may also mitigate the dangers posed by any escalation in sanctions by Washington and Beijing. Hong Kong Exchanges & Clearing Ltd (HKEX) is drawing up plans to allow traders to sign up multiple …

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• 20 June

  Flight cancellations, delays in US top 6,000 on storms

  

    Bloomberg Just a day after airline executives met with US transportation officials on how to stem flight disruptions, a band of storms triggered thousands of cancellations and delays for beleaguered carriers. More than 6,000 flights were late or scrubbed altogether as of 4:25 pm ET, according to tracking website FlightAware. That comes on top of more than 1,700 cancellations …

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• 20 June

  Boeing delivers US missile interceptor after years of delays

  

  Bloomberg Boeing Co delivered a missile interceptor for US’s ground-based system three years late after overcoming vexing subcontractor quality problems, congressional auditors said. The delivery in December, which wasn’t previously announced, followed “production challenges” because “the boost vehicle contractor mishandled a key avionics component and had to build a new one,” the Government Accountability Office said in its annual report …

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• 20 June

  JFK airport’s new project to tap muni market for over $6 billion

  

    Bloomberg The finance team behind the new terminal at New York’s John F. Kennedy International Airport expects to sell more than $6 billion of municipal bonds in the coming years to help pay for the project. The group plans to issue taxable or tax-exempt debt in the $4 trillion muni market to refinance a $6.6 billion bank loan originally …

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• 20 June

  Ex-Amazon worker found guilty in Capital One hack

    Bloomberg A former Amazon Web Services worker was convicted of hacking into the company’s cloud servers to steal customer data and computer power that she used to mine cryptocurrency. Following a week-long trial in Seattle, Paige A. Thompson, 36, was found guilty of seven federal crimes, including wire fraud, which carries a prison sentence of as long as 20 …

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• 20 June

  Zara’s pink party dresses are made from greenhouse gases

  

    Bloomberg Released by Inditex’s Zara as part of a limited clothing collection, the little pink number costs $90 and is sourced, in part, from captured carbon emissions. It’s also officially sold out. Carbon and other greenhouse-gas emissions are, for lack of a better description, the worst. The buildup of these gases in recent decades is starting to reshape every …

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• 20 June

  Aerojet CEO backed by ISS in proxy fight

  Bloomberg Aerojet Rocketdyne Holdings Inc Chief Executive Officer (CEO) Eileen Drake has received backing from the Institutional Shareholder Services (ISS) for her slate of candidates battling for board seats in a proxy fight with the US rocket-engine maker’s chairman. In a shareholder letter, Drake and three other independent directors said the ISS, a provider of proxy research and vote recommendations to the …

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• 20 June

  Inflation turns EVs into luxury items

  

    Bloomberg Electric-vehicle (EV) prices are going up at a dizzying pace these days. Tesla raised prices by as much as $6,000 per car this week. Rivian bumped up the ask on its battery-powered R1T pickup truck in March, while Ford hiked the sticker on the Mach-E. Add it all up and an electric car now costs $61,000 on average, according …

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• 20 June

  About a third of vehicles sold in India to be electric by 2030

  

    Bloomberg Close to a third of all vehicles sold in India are expected to be electric by 2030, but they will mostly be two- and three-wheelers, as expensive battery-powered cars would be outside the reach of many consumers in the world’s fourth-largest automobile market. By that time, nearly one in every 10 electric vehicles sold worldwide will be in …

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• 20 June

  Ferrari to launch electric car in 2025

    Bloomberg Ferrari NV will introduce its first fully electric model in 2025 as the Italian carmaker accelerates its shift away from combustion engines. The Italian luxury sports car manufacturer expects adjusted earnings before interest, taxes, depreciation and amortization to climb to as much as 2.7 billion euros ($2.8 billion) in 2026, an increase from 1.5 billion euros last year, …

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