September, 2019

• 17 September

  Johnson’s Brexit plan goes to court as EU talks fizzle out

  

  Bloomberg Boris Johnson’s Brexit strategy has been on trial ever since he became prime minister eight weeks ago, and on Tuesday his lawyers were expected to defend it in the UK’s highest court. Fresh from being lambasted by a fellow European leader after he opted out of a joint news conference, Johnson will see his decision to suspend parliament under ...

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• 17 September

  Trump says US, Japan reach initial agreement on tariffs

  

  Bloomberg President Donald Trump said his administration will enter into an initial trade accord over tariffs with Japan in the coming weeks while Tokyo warned any final deal must include assurances that Washington won’t slap new tariffs on $50 billion of Japanese auto exports. In a notice to Congress, Trump also said the US will be entering an “executive agreement” ...

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• 17 September

  Big Tech companies shouldn’t be broken up, says Bill Gates

  

  Bloomberg Bill Gates, who knows a thing or two about antitrust investigations, doesn’t think it’s a good idea to break up the biggest US tech companies as some politicians have suggested. The Microsoft Corp co-founder and former chief executive officer battled the Justice Department for years in the late 1990s in a bruising antitrust case. At issue was the software ...

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• 17 September

  US’s Elliott buys stake in Agnellis’ CNH

  

  Bloomberg Elliott Management Corp has built a stake in CNH Industrial NV in a bid for constructive engagement with the truck and tractor maker controlled by Italy’s Agnelli family, according to people familiar with the matter. Elliott, run by billionaire Paul Singer, sees value-creation potential in CNH’s plan to separate the Iveco truck business from its more profitable agricultural machine ...

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• 17 September

  Swiss cuts growth view amid trade war

  Bloomberg The Swiss economy is expected to expand less quickly than previously anticipated, a knock-on effect of the trade war that’s weighing on demand across major economies. Gross domestic output is seen expanding 0.8 percent this year, compared with the Swiss government’s previous forecast of 1.2 percent. The State Secretariat for Economic Affairs kept its 2020 prediction unchanged at 1.7 ...

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• 17 September

  New US tariffs may soon hit European luxury exports

  

  Bloomberg Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound handbags and men’s suits, among other products. A panel of three World Trade Organization arbiters, as expected, said the US can legally impose tariffs on an array of European exports in retaliation for Europe’s ...

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• 17 September

  Central banks have nothing to fear from Libra: Facebook

  

  Bloomberg Facebook Inc is once again defending Libra — this time against fears that the envisioned cryptocurrency could replace sovereign currencies from the US dollar to the Euro and threaten central banks’ control over money creation. David Marcus, the executive leading the project, posted a series of tweets the same day members of the Libra Association met with regulators convened ...

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• 17 September

  Krona slumps as Swedish jobless data hits four-year high

  

  Bloomberg Sweden’s unemployment rate unexpectedly spiked to a four-year high in August, raising questions around the central bank’s plans to hike interest rates and driving the krona lower. The seasonally-adjusted jobless rate jumped to 7.4 percent, much worse than the 6.8 percent reading in a Bloomberg survey of economist estimates. The news, which resulted in a 0.8 percent decline in ...

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• 17 September

  Riksbankers assert ‘freedom’ from world

  

  Bloomberg Riksbank policy makers look intent on bringing an end to almost half a decade of negative interest rates, according to minutes from their most recent meeting. The central bank earlier this month delivered an upbeat assessment of the economy and signalled a plan to raise rates towards the end of the year or early next year. The move came ...

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• 17 September

  EU banking regulator faces flak over lobbying

  

  Bloomberg One of Europe’s most senior banking regulators is switching sides to represent the region’s biggest lenders on policy issues, drawing criticism from lawmakers and advocacy groups. Adam Farkas, currently the executive director of the European Banking Authority (EBA), will become the head of the Association for Financial Markets in Europe, the industry group said in a statement. The EBA ...

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