June, 2021

• 16 June

  Mark Zuckerberg drops off top CEO list, says Glassdoor

  

  Bloomberg Mark Zuckerberg’s approval among some Facebook Inc employees has slipped, dislodging him from Glassdoor’s ranking of the Top 100 CEOs, a list he’s been on annually since 2013. Zuckerberg put on his game face to convince a skeptical Congress that his company’s ambitious plans for a cryptocurrency will benefit millions of poor and underbanked people around the world, and ...

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• 16 June

  KKR explores sale of Marelli’s suspension systems business

  Bloomberg KKR & Co is considering a sale of Marelli Corp’s suspension systems business as the private equity firm shifts the focus of the car parts company towards more profitable products, according to people familiar with the matter. The buyout firm is working with an adviser on the potential disposal, which has drawn preliminary interest from private equity and strategic ...

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• 16 June

  Lordstown jumps on outlook for production through May

  

  Bloomberg Lordstown Motors Corp jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives. The automaker is actively raising additional funds and has reconfirmed orders for its debut vehicle, President Rich Schmidt said at an Automotive Press Association event ...

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• 16 June

  Volvo Cars explores fossil-fuel free steel use

  Bloomberg Swedish steelmaker SSAB AB is teaming up with Volvo Cars to develop fossil-free steel for use in the automotive industry. Volvo Cars will be the first carmaker to secure the greener steel, SSAB said in a statement on Wednesday. Volvo Cars will use the material for testing and possibly in a concept car, it said. For the automaker, the ...

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• 16 June

  UK to import Norway’s hydro-power along sub-sea cable

  

  Bloomberg The first megawatts of electricity was expected to flow between Norway and the UK on Wednesday along the longest submarine power cable in the world. Once fully operational Britain is expected to import supplies of low carbon power on a regular basis. Tests on the 1,400-megawatt, 450-mile long cable will be complete in time to transport power from Norway’s ...

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• 16 June

  Top-performing Indian funds make bets on chemical stocks

  

  Bloomberg India’s best-performing stock funds have one thing in common: they’ve bet on companies that make the chemical substances used in items ranging from lip balms to crop-boosting fertilisers. Chemicals producers make up at least 14% of the portfolio for three funds that have delivered the biggest returns this year among those with at least $500 million in total assets, ...

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• 16 June

  US equity futures fluctuate, bonds steady on FOMC day

  

  Bloomberg US equity futures fluctuated as investors turned cautious before a policy decision from the Federal Reserve. Oil extended a powerful rally and Treasuries were steady. Contracts on the S&P 500 index drifted between modest losses and gains after the underlying gauge snapped a three-day winning streak amid weakness in technology and real estate. Chemical producers led a small advance ...

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• 16 June

  Oil rises to highest since 2018 as traders see further rally

  

  Bloomberg Oil climbed as a chorus of prominent traders in the crude market said prices will continue to rise after a nearly 50% rally so far this year. Futures in New York advanced as much as 1.6% on Tuesday to the highest intraday level since 2018. At the FT Commodities Global summit, Glencore Plc and Vitol Group both said they ...

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• 16 June

  US talking to China on Boeing 737 Max nod

  

  Bloomberg The Biden administration is engaging with China in an effort to win approval for Boeing Co’s 737 Max planes, which remain banned in the country even as other jurisdictions have reauthorised it following crashes. “We’re absolutely working on it,” Commerce Secretary Gina Raimondo said in an interview on Tuesday with Bloomberg Television’s David Westin. “China’s a big market, and ...

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• 16 June

  Hub71, Modus Capital join forces to build, invest in early stage start-ups

  

  Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has joined forces with New York-born Modus Capital, a venture capital and venture builder firm to launch a Ventures Lab programme enabling early-stage founders from around the world to develop successful and scalable startups from Abu Dhabi. Ventures Lab at Hub71 is the first venture builder programme in the UAE ...

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