June, 2018

• 2 June

  US gas caps biggest May gain since 2010 as deficit sticks

  Bloomberg US natural gas futures are having their best May rally since 2010 as hot weather boosts demand for the power plant fuel, slowing efforts to refill depleted inventories. Prices rose to a four-month high after the Energy Information Administration reported inventories rose by 96 billion cubic feet last week to 1.725 trillion. The median estimate by analysts predicted a …

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• 2 June

  Enel wins bidding war for $2bn Brazil utility

  

  Bloomberg Italian power giant Enel SpA won a highly contested multibillion-dollar battle for AES Corp.’s Brazilian utility in a move that will more than double its presence in the country’s electricity distribution market. Enel’s 45.22 reais-a-share ($12.14) offer for Eletropaulo SA topped a final one by leading rival Iberdrola SA of Spain in sealed bids opened on the Sao Paulo …

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• 2 June

  GE chooses bidders for gas-engine business sale

  Bloomberg General Electric Co. is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, according to people familiar with the matter. Manufacturers Cummins Inc. and Kohler Co., as well as a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round …

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• 2 June

  Nintendo harnesses power of Pokemon, smartphones, Switch

  

  Bloomberg Nintendo Co. is bringing together the magnetic appeal of Pokemon, smartphones and the Switch console into an interlinked gaming experience. Pokemon: Let’s Go Pikachu and Pokemon: Let’s Go Eevee were unveiled by the Kyoto-based video-game maker. They’re designed to capitalise on the blockbuster success of the Pokemon Go smartphone game and a solid year of sales for the Switch …

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• 2 June

  Google won’t renew Pentagon AI drone deal after staff backlash

  

  Bloomberg Google decided not to renew its contract with a Pentagon drone programme once it expires, after extensive protests from employees of the internet giant. Diane Greene, head of the cloud business at Alphabet Inc.’s Google, told staff that the company will let the deal lapse when it runs out in March 2019, according to people familiar with the meeting. …

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• 2 June

  Waymo expands Chrysler self-driving fleet to 62,000

  

  Bloomberg Alphabet Inc.’s Waymo is expanding its partnership with Fiat Chrysler Automobiles NV by adding tens of thousands of minivans to its fleet of self-driving cars and the two said autonomous vehicles could eventually be sold to the public. The addition of 62,000 Chrysler Pacifica plug-in hybrid minivans builds on a commitment announced in January to buy an unspecified number …

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• 2 June

  Apple set to unveil software to help cure iPhone addiction

  

  Bloomberg In recent months, Apple Inc. has been criticised for the addictive nature of its devices. This week, the company plans to unveil software to help cure people of their iPhone habit. On Monday, Apple will hold its annual Worldwide Developers Conference in San Jose, where it will lay out its software strategy for the next year and tease future …

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• 2 June

  Modi govt to review Air India deal after its sale plan flops

  

  Bloomberg Prime Minister Narendra Modi’s government will review plans to sell Air India after his administration’s most high-profile privatisation offer ended in a whimper with no buyers showing interest in the unprofitable flag carrier. The government will make changes to the plan, if needed, Economic Affairs Secretary Subhash Chandra Garg said. As the deadline to show preliminary interest expired on …

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• 2 June

  Sears prepares for more store closings as revenue slumps

  

  Bloomberg Sears Holdings Corp. kicked off another fiscal year with declining sales from a dwindling number of stores, and more closings are on the way. The operator of Sears and Kmart stores posted a first-quarter loss of $3.93 a diluted share. Revenue fell due to fewer stores and a 12 percent drop in comparable-store sales. The Hoffman Estates, Illinois-based retailer …

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• 2 June

  BA suspends A380 talks in test to new Airbus sales chief

  

  Bloomberg British Airways (BA) owner IAG SA has suspended negotiations with Airbus SE over a possible deal for additional A380 superjumbos, a potential setback for the already-struggling program and Airbus’s new sales chief, according to people familiar with the matter. The carrier had been weighing an order for close to 10 of the double-deckers after Airbus managed to secure a …

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