June, 2018

• 23 June

  Dubai Properties projects draw interest from Chinese investors

  

  Dubai / WAM Dubai Properties, a member of Dubai Holding, is drawing high interest for its upscale projects from investors and potential buyers in China as part of its participation at Luxury Property Showcase (LPS) Beijing 2018, the leading luxury property show that is currently underway in the Republic’s capital city. Dubai Properties, a member of Dubai Holding, is drawing ...

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• 23 June

  Unfracked oil wells growing as ‘pipeline’ scarcity worsens

  

  Bloomberg Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production boom in the oil-rich area of West Texas and New Mexico. ...

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• 23 June

  Sierra hires Canada’s Scotia Waterous to sell stake in Mexico block

  

  Bloomberg Upstart Mexican driller Sierra Oil & Gas S de RL de CV, which co-owns a billion-barrel find in the Gulf of Mexico, has hired Canada’s Scotia Waterous to sell a stake in a nearby exploratory block. “We are negotiating the final terms of the agreement with the buyer,” said Ivan Sandrea, Sierra’s chief executive officer, speaking over the phone ...

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• 23 June

  Wind turbines take a break as heatwave set to hit UK

  

  Bloomberg Thousands of wind turbines from Germany to the UK are set to grind to a halt next week, cutting electricity supplies at the same time as the next wave of hot weather arrives. As the warmest second quarter in 30 years draws to a close, next-month power prices in Europe’s biggest economy are already trading at their highest for ...

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• 23 June

  When will Apple unveil its wireless charger …

  

  Bloomberg When Apple Inc. introduced AirPods earbuds in 2016, chief designer Jony Ive hailed the beginning of a new “wireless future”. The company’s devices would connect and charge without fiddly white cords and unsightly plugs and sockets. The next step was wireless charging for the iPhone, the ability to drop Apple’s flagship product on a charging mat and juice it ...

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• 23 June

  Audi, Hyundai to join forces to push fuel-cell technology

  

  Bloomberg Tesla Inc.’s CEO Elon Musk has called it “ mind-bogglingly stupid” and carmakers have gravitated away from it in recent years. Yet fuel-cell technology — the science behind hydrogen cars that emit only water vapour — is getting fresh impetus. Hyundai Motor Co. and Volkswagen AG’s Audi unit plan to team up on vehicle development and share patent licenses ...

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• 23 June

  Porsche buys stake in Croatia’s Rimac for battery-powered cars

  

  Bloomberg Porsche bought a 10 percent stake in Rimac Automobili, a Croatian maker of electric supercars and components, as the German sports car brand looks to accelerate its shift into battery-powered vehicles. “Rimac has impressively demonstrated its credentials in the field of electromobility,” Lutz Meschke, finance chief for the unit of Volkswagen AG, said in a statement. “We feel that ...

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• 23 June

  Robots missing from largest part of Japan’s economy

  

  Bloomberg Japan is famous as a land of robots, but most of those machines haven’t made their way off of factory floors. That presents an opportunity in a country with a serious labour shortage and a relatively unproductive services sector. Automation is seen as a key to better productivity and higher wages, which would in turn support consumption and help ...

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• 23 June

  Ford emerges with less fussy tech features

  Bloomberg After struggling for years to address complaints with its audio and connectivity systems, Ford Motor Co. achieved its highest-ever ranking this year in a closely watched annual study of new-car quality. Ford’s namesake brand ranked fifth in J.D. Power’s Initial Quality Study, which measures problems per 100 vehicles in first 90 days of ownership. Ford was one of the ...

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• 23 June

  Wall Street clears first stress test hurdle with ample capital

  

  Bloomberg Big banks cleared the first hurdle of this year’s US stress tests as the Federal Reserve found all 35 lenders examined could withstand a severe economic downturn, though Goldman Sachs Group Inc. trailed the rest of Wall Street in a key measure of leverage. The results announced mark the third straight year every bank exceeded the Fed’s minimum capital ...

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