June, 2020

• 14 June

  Satellite firm works to fly delivery drones hundreds of miles

  

  Bloomberg Inmarsat Group Holdings Ltd. says it’s found a way to safely fly civil drones over long distances, a step that may help pave the way for mass adoption by industries from transportation to energy and infrastructure. Current rules mean most non-military users have to keep drones where they can see them and can only operate one at a time ...

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• 14 June

  AT&T considers selling gaming unit in $4b deal

  

  Bloomberg AT&T Inc. is considering a sale of Warner Bros. video-game unit, a business that could fetch about $4 billion and help the company pare down its almost $200 billion in debt, CNBC reported. Activision Blizzard Inc., Electronic Arts Inc. and Take-Two Interactive Software Inc. are interested in potentially buying the division, according to CNBC, which cited unidentified people familiar ...

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• 14 June

  Rwanda deploys robots in fight against Covid-19

  

  Bloomberg After succesfully deploying drones to enforce a lockdown and curb the spread of the coronavirus, Rwanda has now enlisted the help of five robots. The nation that’s been at the forefront of technology adoption on the continent will use the Belgium-made robots at a Covid-19 treatment center to test patients’ temperatures and to alert security when people don’t wear ...

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• 14 June

  Apple removes two podcast apps from app store at China’s request

  

  Bloomberg Apple Inc. removed podcast apps Pocket Casts and Castro from its App Store in China at the request of the Cyberspace Administration of China, the apps’ developers said this week. “We believe podcasting is and should remain an open medium, free of government censorship,” Pocket Casts wrote on Twitter. “As such we won’t be censoring podcast content at their ...

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• 14 June

  Morgan Stanley cuts Tesla to underweight

  Bloomberg Morgan Stanley cut Tesla Inc. to underweight from equal-weight, saying the rally that saw the stock break above $1,000 this week doesn’t properly reflect emerging risks. Analyst Adam Jonas cited price cuts across Tesla’s model range in China and the US that suggest auto demand coming out of the coronavirus pandemic isn’t as strong as before. An even greater ...

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• 14 June

  Nikola founder has $7.4bn fortune on free truck orders

  

  Bloomberg His company has sent his net worth soaring to $7.4 billion, but Trevor Milton is frustrated. The executive chairman of Nikola Corp. is under siege from skeptics of the company he started in 2014 with the goal of revolutionising the trucking industry. The doubters who have him particularly down are criticising him for taking orders for hydrogen fuel cell-powered ...

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• 12 June

  Oil slips as Fed’s caution weighs on risky assets

  

  Bloomberg Oil slumped in New York as the Federal Reserve forecast a long road to recovery for the US economy and American crude inventories rose to a record. Futures lost 3.5% to trade near $38 a barrel. Fed Chairman Jerome Powell said the pandemic could inflict long-lasting damage on the economy and signaled it would keep rates near zero possibly ...

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• 11 June

  Chesapeake Energy preparing bankruptcy as options dwindle

  

  Bloomberg Chesapeake Energy Corp is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the US shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp for title of king of American natural gas comes after CEO Doug Lawler’s ...

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• 11 June

  LNG market will recover to pre-virus levels, says Shell CEO

  

  Bloomberg Royal Dutch Shell Plc, the world’s largest liquefied natural gas (LNG) trader, expects buying and selling of the fastest-growing fuel to recover to levels seen before the pandemic. Global LNG demand took a severe hit when nations imposed lockdowns to combat the spread of the coronavirus, impacting the fuel’s use in everything from power plants to transport and factories. ...

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• 11 June

  PG&E readies $11b debt deal

  

  Bloomberg Utility giant PG&E Corp is readying an $11 billion debt-financing package that may be sold to investors as soon as next week as the company prepares to exit bankruptcy, according to people with knowledge of the matter. The financing includes $4 billion of high-yield bonds and a $750 million term loan led by JPMorgan Chase & Co, the people ...

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