June, 2019

• 15 June

  Trade tensions hurting global oil demand: Opec

  

  Bloomberg The Organization of Petroleum Exporting Countries (Opec) said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead. The organization, due to meet in the coming weeks to set production levels for the second half, said demand increased by less than 1 million barrels a day ...

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• 15 June

  US, Canada, Brazil oil output doubles in 10 yrs

  

  Bloomberg From 2008 to 2018 the amount of oil produced by the US, Canada and Brazil almost doubled. These three countries now produce roughly one quarter of the world’s oil, according to BP’s annual Statistical Review of World Energy 2019. The US alone in this time has more than doubled its oil output and effectively grabbed an additional 8 percentage ...

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• 15 June

  Huawei and its weapons of economic warfare

  

  Bloomberg As Huawei Technologies Co. comes under unrelenting pressure from the Trump administration, the Chinese telecom giant has one advantage that the US can’t undermine: a vast, global portfolio of patents on critical technology. Huawei holds 56,492 active patents on telecommunications, networking and other high-tech inventions worldwide, according to Anaqua’s AcclaimIP. And it’s stepping up pursuit of royalties and licensing ...

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• 15 June

  Bitcoin futures important than many appreciate: JP Morgan

  Bloomberg Bitcoin futures may be more important than many in the market appreciate, according to JPMorgan Chase & Co. Recent reports from cryptocurrency asset manager Bitwise and the Blockchain Transparency Institute indicate that only a small percentage of reported trading may be authentic. If only around 5% of reported May trading of $725 billion is genuine, it would imply that ...

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• 15 June

  Pinterest latest firm drawn into US culture wars

  

  Bloomberg An effort by the social media company Pinterest to limit the spread of medical conspiracy theories blocked one of the most prominent anti-abortion groups in the US from sharing its content on the site. And it’s put the social media company squarely in the middle of today’s culture wars. The anti-abortion organisation, Live Action, and conservative activist James O’Keefe ...

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• 15 June

  ‘GM, Fiat Chrysler are Tesla’s secret source of cash’

  Bloomberg For years, Tesla Inc. has hauled in revenue by selling credits to other carmakers that needed to offset sales of polluting vehicles to US consumers. These sorts of transactions have largely been shrouded in secrecy — until now. General Motors Co. and Fiat Chrysler Automobiles NV disclosed to the state of Delaware earlier this year that they reached agreements ...

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• 15 June

  Fed not likely to go aggressive on interest rate cut this year

  

  Bloomberg The Federal Reserve will likely cut interest rates this year but not nearly as aggressively as investors expect, according to a Bloomberg survey of economists. Respondents to a June 7-12 poll saw policy makers lowering rates by a quarter point this year. That’s a meaningful shift since March — when economists anticipated a hike in September — reflecting a ...

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• 15 June

  Nordea Bank’s biggest shareholder cutting its stake below 20%

  

  Bloomberg The biggest shareholder in Nordea Bank Abp is cutting its stake below 20% in a move the investor says is designed to ease its capital burden. Sampo Oyj, which is based in Helsinki, will distribute some of its holdings in Nordea as an extra dividend to shareholders. By going below 20%, Sampo will no longer be treated as a ...

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• 15 June

  SNB keeps ultra-loose policy with new interest rate to tame currency

  

  Bloomberg The Swiss National Bank (SNB) stuck with ultra-loose monetary policy and a pledge to battle currency strength amid a deteriorating backdrop that’s tying its hands. The SNB’s dual tack of record-low interest rates and unwavering intervention threats have been at the heart of the President Thomas Jordan’s push in recent years to keep the franc in check. A downshift ...

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• 15 June

  BOE poised to keep key rate unchanged

  

  Bloomberg Bank of England (BOE) policy makers will probably keep policy on hold despite warnings that interest rates will have to rise in the future. All but one of the 20 analysts surveyed by Bloomberg predict a unanimous vote to keep the benchmark at 0.75%. Political turmoil, a lack of clarity about Britain’s departure from the European Union, weaker-than-expected economic ...

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