July, 2021

• 4 July

  India’s opposition demands probe into Modi’s Rafale deal

  

  Bloomberg Prime Minister Narendra Modi’s political opponents stepped up their demands for a probe into India’s purchase of Rafale combat jets after France reportedly launched a judicial investigation into allegations of corruption in the deal. The Indian National Congress party on Sunday called for an investigation into the allegations, including changes in the terms of the contract for the 2016 ...

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• 4 July

  Hong Kong’s security force warns against mourning police attacker

  

  Bloomberg Hong Kong’s national security police took over the investigation into the stabbing of a policeman and cautioned citizens from mourning the attacker’s death, calling the incident a domestic terrorist attack on the 24th anniversary of the former British colony’s return to Chinese rule. The National Security Department, which investigates offenses that endanger national security, is now probing the July ...

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• 4 July

  US jobs increase by most in ten months as economy gains steam

  

  Bloomberg The pace of US hiring accelerated in June, with payrolls increasing by the most in 10 months, suggesting firms are having greater success recruiting workers to keep pace with the economy’s reopening. Nonfarm payrolls jumped by 850,000 last month, bolstered by strong job gains in leisure and hospitality, a Labor Department report showed. The unemployment rate edged up to ...

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• 4 July

  Deutsche Telekom starts $5.3bn sale of its Dutch unit

  

  Bloomberg Deutsche Telekom AG has kicked off the sale of its T-Mobile Netherlands BV subsidiary, which could be valued at around 4.5 billion euros ($5.3 billion), according to people familiar with the matter. The telecommunications operator is working with Morgan Stanley and has sent out information on the business to potential bidders. It has asked for first-round offers to be ...

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• 4 July

  Canada trade balance swings back to deficit on export drop

  Bloomberg Canada’s international trade balance swung into a deficit in May as exports dropped for a second month and imports recovered. The nation posted a merchandise trade gap of C$1.39 billion ($1.1 billion) in May from a revised C$462 million surplus the previous month, Statistics Canada reported in Ottawa. Economists were predicting a surplus of C$440 million. Exports were down ...

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• 4 July

  London ousts Amsterdam as Europe’s top share trading hub

  

  Bloomberg London moved back ahead of Amsterdam as Europe’s largest share trading center in June, reclaiming the top spot for the first time this year after Brexit pushed much of the city’s volumes to the continent. An average 8.92 billion euros ($10.6 billion) of shares a day were traded on various London venues in June, compared with 8.8 billion euros ...

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• 4 July

  Audi seeks to double return on sales by 2025

  Bloomberg Volkswagen AG’s Audi is setting itself ambitious profitability targets even as the luxury-car division expands its electric-vehicle sales efforts, Der Spiegel reported, citing people familiar with the matter. Chief Executive Officer Markus Duesmann plans to make Audi the VW group’s biggest profit contributor, targeting a return on sales of more than 11 percent in 2025, up from 5.5 percent ...

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• 4 July

  UK, EU try to ease travel fears over India’s Astra vaccine

  

  Bloomberg UK Prime Minister Boris Johnson tried to calm concerns among vaccinated Britons that they won’t be able to travel to the European Union this summer because they received a version of AstraZeneca Plc’s Covid-19 shot that was made in India. The vaccine — known as Covishield — isn’t approved by the European Medicines Agency. That has led to some ...

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• 4 July

  Corporate buybacks gain steam with banks set to boost buying

  

  Bloomberg High stock price valuations may be giving some investors pause, but it hasn’t stopped US corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc are among the nation’s biggest lenders that signalled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colours. Banks are joining ...

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• 4 July

  Race to become the vanguard of India’s stock market is on

  

  Bloomberg India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut. After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management versus about 16% two ...

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