June, 2021

• 27 June

  US, EU, Canada willing to review Venezuela sanctions on conditions

  

  Bloomberg The US, European Union and Canada said they are “willing to review sanctions policies” against Venezuelan President Nicolas Maduro and his regime provided there are “substantive, credible advancements” in negotiations to restore the democratic process in the South American country. “A time-bound and comprehensive negotiation process should restore the country’s institutions and allow for all Venezuelans to express themselves ...

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• 27 June

  United Nations condemns killing of three MSF workers in Ethiopia

  

  Bloomberg The United Nations condemned the killing of three Medicins Sans Frontieres employees in Ethiopia’s Tigray region as a breach of international law. “This is totally unacceptable and an appalling violation of International Humanitarian Law,” UN Secretary General António Guterres said in a statement. “The perpetrators must be found and severely punished.” The three staffers — Maria Hernandez, MSF’s emergency ...

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• 27 June

  HSBC apology shows financial fears mounting in Hong Kong

  

  Bloomberg HSBC Holdings apologised to customers in Hong Kong after an update to its online and mobile banking terms stoked fears over overseas access to its services in the financial hub. The quick mea culpa by Hong Kong’s biggest bank — triggered by a Twitter post — underscores growing concerns in the city over not only civil society but also ...

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• 27 June

  Danske Bank faces charges related to market abuse

  

  Bloomberg Danske Bank has been charged by Danish police for allegedly violating rules intended to protect investors from market manipulation. Denmark’s biggest bank, which is separately being investigated in the US and Europe amid an ongoing money-laundering case, says it received notice of preliminary charges from the Danish State Prosecutor for Serious Economic and International Crime, or SOIK. The case ...

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• 27 June

  Thai central bank holds rates, cuts outlook on tourism slump

  

  Bloomberg Thailand’s central bank held its benchmark rate unchanged, signalling a need to preserve policy space as the country grapples with its biggest wave of Covid cases and a weakening outlook for the tourism-reliant economy. The Bank of Thailand’s rate setting committee unanimously decided to hold rates at a record low of 0.5% for a ninth straight meeting, as expected ...

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• 27 June

  ECB to start supervising large investment firms

  

  Bloomberg The European Central Bank (ECB) said it will start overseeing “systemic” investment firms as a long-planned legal change adds to responsibilities that have steadily expanded in recent years. Firms with more than 30 billion euros ($35.8 billion) of assets that underwrite or trade financial instruments on their own account will now have to apply for banking licenses under new ...

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• 27 June

  Irish govt plans to sell stake in Bank of Ireland

  Bloomberg The Irish government plans to sell part of its 676 million euro ($807 million) stake in Bank of Ireland group over the next six months or so, the latest stage in its bid to recoup the bank bailout that almost bankrupted the nation. Part of Ireland’s 13.9% shareholding in the bank will be sold through a pre-arranged trading plan ...

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• 27 June

  Several Chinese banks reduce Evergrande funding

  

  Bloomberg Several large Chinese banks are restricting credit to China Evergrande group amid mounting concerns about the developer’s financial health, according to people familiar with the matter. Three banks with a combined $7.1 billion of credit exposure to Evergrande as of June 2020 have decided in recent months not to renew loans to the company when they mature this year. ...

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• 27 June

  Honda goes all in on electric in stark contrast to Toyota

  

  Bloomberg Honda Motor Co has become the first of Japan’s automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal and giving newly minted Chief Executive Officer Toshihiro Mibe a once-in-a-career chance to put his stamp on a firm that can trace its lineage back 84 years. “It’s a very bold target,” ...

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• 27 June

  Apple says third-party app stores would open IPhones to scammers

  

  Bloomberg Apple Inc is raising fears about letting users install applications outside the company’s App Store, an issue being targeted by lawmakers and regulators that also played a prominent role in its recent trial against Epic Games Inc. The company said on its website that requiring apps to be downloaded from the App Store protects consumers against scams, keeps their ...

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