June, 2021

• 14 June

  Glance buys Shop101 to expand into live e-comm

  

  Bloomberg Indian mobile content provider Glance InMobi Pte agreed to acquire e-commerce startup Shop101 to expand into influencer-led shopping in the South Asian country. Glance, which became a unicorn in December after backing from Alphabet Inc’s Google and Peter Thiel’s Mithril Capital, pushes curated news and entertainment content onto phone lock screens and also runs a short video app. It ...

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• 14 June

  Ships skip Singapore as China congestion snarls supply chain

  

  Bloomberg Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions. A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings Ltd. One ...

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• 14 June

  Top India fund turns against riskier debt

  Bloomberg A top Indian fund manager is shunning lower-rated rupee corporate bonds until the impact of the world’s worst Covid-19 crisis on weaker borrowers is better understood. The level of stress in the economy especially for small- and medium-sized enterprises is still unclear after states locked down to curb the spread of a second virus wave from March, said Dhawal ...

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• 14 June

  Evergrande tycoon loses $20 billion as investors revolt

  

  Bloomberg Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode. Resurgent concerns about the health of China Evergrande Group, Hui’s flagship property company, have pushed its stock to within a hair’s breadth of the lowest level since March 2020. Bondholders are rushing for the exit too, spooked ...

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• 14 June

  Tokyo-Seoul spat at G-7 shows Biden’s challenge with Beijing

  

  Bloomberg It was supposed to be another sign of Joe Biden bringing together US allies left adrift under four years of Donald Trump: The leaders of Japan and South Korea sitting down for a meeting at the Group of Seven summit. Yet Japanese Prime Minister Yoshihide Suga and South Korean President Moon Jae-in failed to hold the first substantive direct ...

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• 14 June

  Malaysian court rejects Najib’s bid to halt bankruptcy order

  

  Bloomberg Former Malaysian prime minister Najib Razak faltered in his bid to get a high court to halt bankruptcy proceedings against him for failing to pay a tax bill totaling 1.74 billion ringgit ($420 million). Kuala Lumpur High Court Judge Ahmad Bache on Monday dismissed Najib’s application for a stay of execution, according to an email exchange between the court ...

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• 14 June

  Myanmar junta to start Suu Kyi’s first trial since February coup

  

  Bloomberg Myanmar’s ousted leader Aung San Suu Kyi was expected to be in court on Monday as her first trial begins on charges brought by the military junta after it seized power earlier this year. Suu Kyi and former President Win Myint, who have been in detention since the February 1 coup and face multiple charges, are expected to testify ...

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• 14 June

  US top court rejects conviction appeals by Virginia rioters

  

  Bloomberg The US Supreme Court rejected appeals by two members of a white supremacist group convicted under a federal anti-riot law for attacking counter-protesters during the deadly 2017 “Unite the Right” rally in Charlottesville, Virginia. The men, Michael Paul Miselis and Benjamin Drake Daley, argued unsuccessfully that the 1968 Anti-Riot Act violates the Constitution by punishing protected speech. A federal ...

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• 14 June

  Nurses to go on strike in Denmark amid pay dispute

  

  Bloomberg About 5,000 Danish nurses are preparing to go on strike from Saturday, after their union failed to reach an agreement with employers over pay. The Danish Nurses’ Council rejected the wage proposal put forward in Copenhagen, Grethe Christensen, the group’s chair, said at a press conference. The council has made the case that nurses, who are predominantly female, have ...

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• 14 June

  India’s RBI tolerating faster inflation amid growth focus

  

  Bloomberg Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India (RBI) taking a grin-and-bear it approach to price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen ...

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