June, 2020

• 14 June

  Lawmakers in US propose $25b to help chip industry

  

  Bloomberg US lawmakers proposed an estimated $25 billion in funding and tax credits to strengthen domestic semiconductor production and counter rising technological competition from China. The effort would support companies building plants in the US and buying chipmaking equipment, while sponsoring research and development into “cutting edge semiconductor” production, according to information provided by the office of Representative Michael McCaul, ...

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• 14 June

  Argentina extends debt deadline

  

  Bloomberg Argentina extended a deadline for creditors to accept a debt restructuring proposal for the fourth time as creditors and the government edge closer towards a deal. The country will push back the deadline for creditors to accept a debt restructuring offer by one week until June 19, according to an economy ministry statement. Argentine Economy Minister Martin Guzman said ...

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• 14 June

  UK economy’s 20% record plunge adds pressure for more aid

  

  Bloomberg The UK economy shrank a record 20.4% in April as businesses and workers reeled under the lockdown designed to control the coronavirus pandemic. The contraction means the nation has effectively seen almost 18 years of growth wiped out in two months. While a rebound is likely as businesses start to reopen, the grim figures will increase the pressure on ...

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• 14 June

  Twitter restores Zero Hedge account

  Bloomberg Twitter Inc. reinstated the account of Zero Hedge after suspending it earlier this year, saying it made a mistake in accusing the libertarian financial website of violating rules against harassment. “We made an error in our enforcement action in this case,” a spokesperson for Twitter said. “Based on additional context from the account holder in appeal, we have reinstated ...

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• 14 June

  US consumer sentiment rises most since 2016 on gain in jobs

  

  Bloomberg US consumer sentiment climbed in early June by the most since 2016 as more states began to reopen their economies and employers restored jobs. The University of Michigan’s preliminary sentiment index increased 6.6 points to 78.9, according to data. The median projection in a Bloomberg survey of economists called for a gain to 75. Even with the improvement, the ...

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• 14 June

  Satellite firm works to fly delivery drones hundreds of miles

  

  Bloomberg Inmarsat Group Holdings Ltd. says it’s found a way to safely fly civil drones over long distances, a step that may help pave the way for mass adoption by industries from transportation to energy and infrastructure. Current rules mean most non-military users have to keep drones where they can see them and can only operate one at a time ...

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• 14 June

  AT&T considers selling gaming unit in $4b deal

  

  Bloomberg AT&T Inc. is considering a sale of Warner Bros. video-game unit, a business that could fetch about $4 billion and help the company pare down its almost $200 billion in debt, CNBC reported. Activision Blizzard Inc., Electronic Arts Inc. and Take-Two Interactive Software Inc. are interested in potentially buying the division, according to CNBC, which cited unidentified people familiar ...

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• 14 June

  Rwanda deploys robots in fight against Covid-19

  

  Bloomberg After succesfully deploying drones to enforce a lockdown and curb the spread of the coronavirus, Rwanda has now enlisted the help of five robots. The nation that’s been at the forefront of technology adoption on the continent will use the Belgium-made robots at a Covid-19 treatment center to test patients’ temperatures and to alert security when people don’t wear ...

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• 14 June

  Apple removes two podcast apps from app store at China’s request

  

  Bloomberg Apple Inc. removed podcast apps Pocket Casts and Castro from its App Store in China at the request of the Cyberspace Administration of China, the apps’ developers said this week. “We believe podcasting is and should remain an open medium, free of government censorship,” Pocket Casts wrote on Twitter. “As such we won’t be censoring podcast content at their ...

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• 14 June

  Morgan Stanley cuts Tesla to underweight

  Bloomberg Morgan Stanley cut Tesla Inc. to underweight from equal-weight, saying the rally that saw the stock break above $1,000 this week doesn’t properly reflect emerging risks. Analyst Adam Jonas cited price cuts across Tesla’s model range in China and the US that suggest auto demand coming out of the coronavirus pandemic isn’t as strong as before. An even greater ...

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