July, 2020

• 4 July

  HSBC pledges more investments in China

  

  Bloomberg HSBC Holdings Plc pledged to boost investments in China to capture more wealth and retail clients even as political tension escalates after Beijing launched sweeping new security legislation to crack down on Hong Kong. The bank, which has come under fire over its support for the legislation, announced it was starting a new service to provide customers in mainland ...

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• 4 July

  China bank regulator lists firms it says violated investor rules

  

  Bloomberg China’s banking and insurance regulator for the first time published names of companies that it alleges committed shareholder violations in the industry, warning investors against misbehaviour as the sector tries to attract private and foreign capital. The China Banking and Insurance Regulatory Commission’s list of 38 companies, published on its website, didn’t identify the banks or insurers they invested ...

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• 4 July

  Nigerian central bank devalues naira by 5.3%

  

  Bloomberg Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with matter. The weakening comes after Governor Godwin Emefiele announced last month that the bank plans to unify its multiple exchange rates to improve the transparency of its currency-management system. At an auction for importers, the central bank asked that bids for foreign ...

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• 4 July

  ECB split brews on pandemic program that calmed crisis

  

  Bloomberg European Central Bank (ECB) President Christine Lagarde’s signature crisis-fighting tool is becoming the focus of disagreement among policy makers in what could amount to her first major test of discipline. Governing Council members face a potential rift over how much their emergency bond-purchase program should stay weighted towards weaker countries such as Italy, according to multiple conversations with central-bank ...

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• 4 July

  UBI rejects takeover offer of Intesa

  Bloomberg Unione di Banche Italiane SpA (UBI) rejected Intesa Sanpaolo SpA’s unsolicited takeover bid as insufficient and increased its dividend estimate just days before the public offer is set to start. The value of the offer is “inadequate” and “penalizes the shareholders of UBI Banca compared with the shareholders of Intesa” the bank said in a statement on Friday. The ...

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• 4 July

  goods untouched by humans

  

  Bloomberg Getting products from one place to another with as little human contact as possible is becoming an imperative for businesses as retailers, warehouses and transport providers adapt to the coronavirus pandemic, seeking to minimise the risk of infections to their employees and customers. Tsubakimoto Chain Co. is seeing more demand for its sorting and conveyor systems as companies seek ...

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• 4 July

  Facebook shared user data with developers longer than promised

  

  Bloomberg Facebook Inc. mistakenly shared some users’ personal data with outside developers for a longer period of time than promised, in a breach of policies the social network implemented following the Cambridge Analytica scandal of 2018. The company previously said that third-party app developers would be blocked from accessing user data if a person didn’t interact with the developer’s app ...

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• 4 July

  ‘Google’s Fitbit deal needs close scrutiny’

  

  Bloomberg The takeover of fitness tracker Fitbit Inc. by Alphabet Inc.’s Google should get close scrutiny from global regulators because it would allow Google to strengthen its already dominant position in digital markets, privacy and consumer groups said. A coalition of 20 organisations raised their concerns in a statement sent to antitrust authorities in seven jurisdictions, including the US and ...

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• 4 July

  Display maker Royole mulls China IPO as US plans stall

  

  Bloomberg Chinese flexible display maker Royole Corp. is weighing an initial public offering in China while its planned US listing is put on hold, according to people familiar with the matter. Royole had filed confidentially for a US IPO that could raise about $1 billion, Bloomberg News reported earlier this year. However, the startup is now considering a listing in ...

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• 4 July

  Daimler to sell French car plant

  Bloomberg Daimler AG plans to sell its factory in Hambach, France, as the maker of Mercedes-Benz cars pursues deeper-than-expected restructuring to overcome the fallout of the coronavirus pandemic. The move to unload the home of the Smart two-seater will result in a negative one-time effect of roughly $562 million in the second quarter, Daimler said. It doesn’t expect an impact ...

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