July, 2021

• 25 July

  Japan, France to boost defense cooperation

  

  Bloomberg The Japanese and French governments have agreed to “actively” maintain defense cooperation to secure a free and open Indo-Pacific, according to a joint statement following a summit meeting between PM Yoshihide Suga and President Emmanuel Macron. Japan welcomed France’s intention, as presidency of the Council of the European Union in the first half of 2022, to reinforce the group’s ...

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• 25 July

  ECB to lift ban on eurozone banks’ dividends as economy rebounds

  

  Bloomberg The European Central Bank (ECB) said it will lift a cap on how much lenders can return to shareholders with dividends and share buybacks, while urging them to remain cautious given uncertainty in pandemic. The ECB “decided not to extend beyond September 2021 its recommendation that all banks limit dividends,” the central bank said in a statement. “Instead, supervisors ...

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• 25 July

  AmEx revenue surges in Q2 as fight for card customers pays off

  

  Bloomberg The battle to win affluent customers is paying off for American Express Co. The credit-card giant added a record number of new customers to its tony Platinum card in the period. That helped revenue surge 33% to $10.2 billion in second quarter, topping the $9.6 billion average estimate of analysts in a Bloomberg survey. Shares soared to a record. ...

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• 25 July

  Bank of Canada to bring back staff, allow 50% remote work

  

  Bloomberg The Bank of Canada will allow most of its employees to work remotely as much as 50% of the time once public health guidelines allow it to fully reopen its offices. A limited number of staff are currently working in the central bank’s offices in Ottawa. The coronavirus pandemic has eased in Canada, with vaccinations rising and cases dropping, ...

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• 25 July

  Danske CEO points to risks still facing bank

  

  Bloomberg The chief executive of Danske Bank said the lender still faces a number of hurdles, including a sluggish retail business, raising questions about management’s ability to live up to long-term profitability targets. Carsten Egeriis, who became CEO in April after his predecessor stepped down due to a money laundering probe, said Danske is still suffering from “reputational issues,” which ...

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• 25 July

  Tanzania’s central bank says inflation remains low

  

  Bloomberg Tanzania’s central bank said inflation remains low, within its target range of 3% to 5%, despite a recent increase in oil prices, and that the risk to the outlook is moderate. The improving global economy will provide “great impetus” to a recovery in Tanzania, the central bank’s Monetary Policy Committee said in a statement Saturday following its latest meeting. ...

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• 24 July

  India eyes phased roll out of central bank digital currency

  

  Bloomberg The Reserve Bank of India (RBI) is considering a “phased introduction” of a central bank digital currency as it will need legal changes to be made in the nation’s foreign-exchange rules and information-technology laws, Deputy Governor T. Rabi Sankar said. Delivering a speech to outline the RBI’s plans, Sankar said that policymakers were considering running pilot programs for the ...

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• 24 July

  A supercar with creature comforts

  

  Bloomberg On its website, Mercedes-Benz describes the 2021 Mercedes-AMG GT63 S as “a four-door supercar.” This is a bit much, notwithstanding the fact that at 16 mpg in the city, it is about as thirsty as one. Mention a supercar built for four and image of the $1.7 million Koenigsegg Gemera would spring to mind, or the menacing and tactical ...

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• 24 July

  Intel server chip woes a drag on sales forecast; shares fall

  

  Bloomberg Intel Corp Chief Executive Officer Pat Gelsinger said the worst of a sales slump has passed and struck a bullish tone about the chipmaker’s prospects for the rest of the year and beyond. Investors are waiting to see proof that the company can regain dominance in semiconductor industry. The key to winning them over will be Gelsinger’s ability to ...

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• 24 July

  Tesla seeks lower taxes on sale of imported EVs in India

  

  Bloomberg Tesla Inc has sought lower taxes on import of electric vehicles in India, people with the knowledge of the matter said, as it looks to commence operations in Asia’s third-largest economy. The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40% from the current range of ...

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