June, 2021

• 27 June

  Thai central bank holds rates, cuts outlook on tourism slump

  

  Bloomberg Thailand’s central bank held its benchmark rate unchanged, signalling a need to preserve policy space as the country grapples with its biggest wave of Covid cases and a weakening outlook for the tourism-reliant economy. The Bank of Thailand’s rate setting committee unanimously decided to hold rates at a record low of 0.5% for a ninth straight meeting, as expected …

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• 27 June

  ECB to start supervising large investment firms

  

  Bloomberg The European Central Bank (ECB) said it will start overseeing “systemic” investment firms as a long-planned legal change adds to responsibilities that have steadily expanded in recent years. Firms with more than 30 billion euros ($35.8 billion) of assets that underwrite or trade financial instruments on their own account will now have to apply for banking licenses under new …

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• 27 June

  Irish govt plans to sell stake in Bank of Ireland

  Bloomberg The Irish government plans to sell part of its 676 million euro ($807 million) stake in Bank of Ireland group over the next six months or so, the latest stage in its bid to recoup the bank bailout that almost bankrupted the nation. Part of Ireland’s 13.9% shareholding in the bank will be sold through a pre-arranged trading plan …

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• 27 June

  Several Chinese banks reduce Evergrande funding

  

  Bloomberg Several large Chinese banks are restricting credit to China Evergrande group amid mounting concerns about the developer’s financial health, according to people familiar with the matter. Three banks with a combined $7.1 billion of credit exposure to Evergrande as of June 2020 have decided in recent months not to renew loans to the company when they mature this year. …

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• 27 June

  Honda goes all in on electric in stark contrast to Toyota

  

  Bloomberg Honda Motor Co has become the first of Japan’s automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal and giving newly minted Chief Executive Officer Toshihiro Mibe a once-in-a-career chance to put his stamp on a firm that can trace its lineage back 84 years. “It’s a very bold target,” …

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• 27 June

  Apple says third-party app stores would open IPhones to scammers

  

  Bloomberg Apple Inc is raising fears about letting users install applications outside the company’s App Store, an issue being targeted by lawmakers and regulators that also played a prominent role in its recent trial against Epic Games Inc. The company said on its website that requiring apps to be downloaded from the App Store protects consumers against scams, keeps their …

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• 27 June

  Instagram adds shopping via images, virtual try-on

  

  Bloomberg Facebook Inc’s Instagram is adding new shopping tools, like letting people search for products using an image, as it expands e-commerce offerings across its family of apps. When users click on the images they see on Instagram, Facebook will direct them to similar-looking products for sale. A user could click on a floral dress on the social media network …

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• 27 June

  Tesla recalls 285,000 cars on autopilot issues

  Bloomberg Tesla Inc plans to recall more than 285,000 electric vehicles sold in China to address risks associated with its autopilot feature after an investigation conducted by the country’s market regulator. The electric car maker will recall 211,256 locally-produced Model 3 vehicles and 35,665 imported ones, as well as 38,599 China-made Model Ys because their autopilot systems are too easily-activated …

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• 24 June

  Australia rejects green hub proposal on environment risks

  

  Bloomberg One of the world’s biggest fossil fuels exporters rejected a proposal to build a massive renewable energy hub over concern about its environmental impact. Asian Renewable Energy Hub, which planned 26-gigawatts of wind and solar generation to produce hydrogen and ammonia, would have disrupted tidal movements and impacted habitats and lifecycle of native species, according to a statement from …

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• 24 June

  Mozambique to sell majority of dam stake

  Bloomberg Mozambique plans to sell a majority stake in the planned $2.4 billion Mphanda Nkuwa hydropower dam that will be one of the biggest in southern Africa, according to Carlos Yum, the director in charge of the project. The government will issue a request for proposals this year, and will take up to four months to select the winner and …

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