June, 2021

• 16 June

  Bezos’s space flight got a bargain

  

  As lockdowns end, people are spending less on stuff and more on having a good time. A fortnight at the beach will suffice for most, but the ultrawealthy face the pressure to be more imaginative and to get more bang for their bucks. A space flight ticks many of the right boxes. Over the weekend Jeff Bezos’s space company Blue ...

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• 16 June

  California defies doom with No. 1 US economy

  When misfortunes multiplied during the coronavirus pandemic, observers seized on a four-letter word signaling end of days for the largest state with one-eighth the US population and 14% of its gross domestic product. “California doom: Staggering $54 billion deficit looms,” the Associated Press concluded a year ago in May. “California Is Doomed,” declared Business Insider two months earlier. ”Is California ...

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• 16 June

  G7 plan is wrong way to fix corporate taxes

  As things stand, the global tax proposals recently announced by the Group of Seven’s finance ministers and endorsed at the weekend’s G-7 summit raise more questions than answers. The group’s governments say they’ve agreed on two linked initiatives — first, to set a common minimum corporate tax rate of at least 15%; second, to apportion the profits made by some ...

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• 16 June

  China blasts ‘ill’ US as President Biden rallies allies on Europe trip

  

  Bloomberg China lashed out at the US, calling the country “very ill indeed,” after President Joe Biden secured support from European allies to present a more united front against Beijing. Foreign Ministry spokesman Zhao Lijian criticised Biden’s efforts during summits of the Group of Seven and North Atlantic Treaty Organization (Nato) in recent days. The response was the latest sign ...

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• 16 June

  China air force sends 28 aircraft near Taiwan

  

  Bloomberg China’s air force sent 28 aircraft close to Taiwan, the largest sortie this year, ratcheting up military pressure on the government in Taipei as it seeks to strengthen ties with the US. The 28 People’s Liberation Army aircraft, including 14 J-16 and six J-11 fighters, were detected in Taiwan’s southwestern air defense identification zone, Taiwan’s defense ministry said in ...

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• 16 June

  EU’s landmark bond sale wins $130 billion in orders

  

  Bloomberg The European Union (EU) drummed up 107 billion euros ($130 billion) of orders for its debut bond sale under the recovery fund, the first sign that investor appetite is robust for the AAA-rated securities. Danske Bank A/S and ABN Amro Bank NV expect the EU to raise 10 billion euros or more from the sale of 10-year debt, with ...

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• 16 June

  Nordea caps flows into $10 billion ESG fund as demand soars

  

  Bloomberg Nordea Asset Management says it’s trying to slow the flow of cash into its global climate fund amid seemingly insatiable demand for clean assets. To “protect the interests of all shareholders and to ensure the continued efficient management of the fund,” Nordea plans to cap daily subscriptions and conversions at 1 million euros, effective June 25, it said on. ...

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• 16 June

  Central banker favours June liftoff for Czech interest rates

  

  Bloomberg The Czech Republic should kick off interest-rate increases this month to prevent the factors driving global inflation from sending consumer prices spiralling out of control, central banker Tomas Holub said. The country is among a handful of EU states taking a hawkish stance in debate over whether surging inflation is temporary and outside of central banks’ influence or a ...

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• 16 June

  BofA reshuffles global natural resources team

  

  Bloomberg Bank of America Corp (BofA) has made a number of changes to the leadership of its natural resources unit in Europe and North America. The bank has named Maria Garijo del Cura and James Sleeman co-heads of Europe, Middle East and Africa natural resources investment banking, based in London, according to an internal memo from Ray Wood, the bank’s ...

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• 16 June

  Nigeria taps StanChart to replace China loans for rail projects

  

  Bloomberg Nigeria’s government is in talks with Standard Chartered Plc (StanChart) about arranging funding for two rail projects expected to cost as much as $14.4 billion, replacing earlier plans to source the loans from Chinese banks, Transport Minister Rotimi Amaechi said. President Muhammadu Buhari’s administration and the London-based lender are discussing financing for the upgrade of a narrow-gauge track in ...

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