June, 2022

• 20 June

  US factory output surprises with first decline in 4 months

  

  Bloomberg US factory production unexpectedly declined in May for the first time in four months, restrained by ongoing supply challenges and hints of cooler demand for some big-ticket consumer goods. The 0.1% decrease followed 0.8% increases in the prior two months, Federal Reserve data showed. Total industrial production, which also includes mining and utility output, rises 0.2% last month. Median ...

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• 20 June

  GM plans to start sales of electric Hummer in Europe

  

    Bloomberg General Motors Co. plans to return to Europe with battery-powered models starting with the Cadillac brand and is considering selling the hulking Hummer electric vehicle. The carmaker may start importing the electric Cadillac Lyriq model, which is already on sale in the US, the people said, asking not to be identified discussing confidential deliberations. Broadening GM’s offering would ...

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• 20 June

  UnitedHealth unit to buy Emis for $1.5bn

    Bloomberg A UnitedHealth group Inc unit has agreed to acquire Emis group Plc in an all-cash deal that values the UK health-technology company at about £1.24 billion ($1.51 billion). The companies said in a statement that Bordeaux UK Holdings II Limited, an affiliate of UnitedHealth’s Optum business in the UK, has agreed to buy Emis for 1,925 pence in ...

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• 20 June

  SpaceX fires employees

    Bloomberg SpaceX has fired “a number of employees” responsible for an open letter critical of the behavior of CEO Elon Musk, according to an internal memo, an unusual clash hinting at growing discord over the billionaire’s controversial comments. The open letter called Musk’s behavior and tweets “a frequent source of distraction and embarrassment for us, particularly in recent weeks.” 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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• 19 June

  Microsoft rolls out a new app for corporate sales reps

  

    Bloomberg Microsoft Corp introduced Viva Sales, a new program meant to connect its Office and video conferencing programs with customer-relationship management software — its own and that of rivals, a step that could help it garner revenue from Salesforce Inc. clients. The program, available to preview next month, lets users of customer management programs synchronise information between those products ...

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• 18 June

  Oil falls as Fed signals even more hawkishness ahead

  

  Bloomberg Oil falls the most in 5 weeks as Federal Reserve Chair Jerome Powell reiterated his will to curb the hottest inflation in decades with more aggressive rate hikes. West Texas Intermediate dropped to near $110, shedding as much as 6.3%. Federal Reserve Chair Jerome Powell this week openly endorsed for the first time raising interest rates well into restrictive ...

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• 18 June

  UAE-US ‘Iron Defender 22’ exercise launched

    ABU DHABI / WAM The Ministry of Defence on Friday announced the launch of ‘Iron Defender 22’, an annual bilateral training event between the UAE naval forces and the US Naval Forces Central Command. Set to run until June 23, the joint exercise is aimed at exchanging military experiences to boost efficiency and combat readiness in carrying out operations, ...

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