July, 2019

• 23 July

  Standard Life fined $38m over pension sales

  

  Bloomberg Standard Life Assurance Ltd. was fined 30.8 million pounds ($38 million) by UK regulators over how it handled sales of some pension products. The Financial Conduct Authority (FCA) said that Standard Life, part of Phoenix Group Holdings Plc, offered employees “large financial incentives to sell annuities, which encouraged them to place their own financial interests ahead of their customers.” ...

  Read More »
• 23 July

  UK manufacturing sees most slump in a decade

  Bloomberg UK manufacturers are more pessimistic than at any time in the past three years after order books shrank at a pace last exceeded during the financial crisis a decade ago, according to the Confederation of British Industry. The gloomy assessment adds to evidence that the economy suffered a Brexit hangover in the last quarter after orders were brought forward ...

  Read More »
• 23 July

  Union says AT&T reneged on deal made before Time Warner merger

  

  Bloomberg A union at AT&T Inc is accusing the company of reneging on a labour agreement that helped gain the support of worker groups for last year’s $85 billion takeover of Time Warner. As part of a deal renewed in 2017, the Communications Workers of America pledged to support expansion efforts by AT&T and the company agreed to terms for ...

  Read More »
• 23 July

  Harley lowers profit margin outlook

  Bloomberg Harley-Davidson Inc cut its full-year operating margin outlook and 2019 bike shipment forecast after weak global motorcycle sales and the impact of tariffs dented second quarter earnings. The Milwaukee-based manufacturer slashed its shipment forecast this year to 212,000 to 217,000, from a previous range of 217,000 to 222,000. Lower shipments also prompted it to reduce its expected 2019 operating ...

  Read More »
• 23 July

  Trump offers help in Kashmir, citing Modi request India rebuts

  

  Bloomberg President Donald Trump offered to help resolve India and Pakistan’s long-running conflict over the territory of Kashmir — citing an invitation from Narendra Modi that the Indian prime minister’s government later denied. “If you would want me to mediate or arbitrate, I would be willing to do that,” Trump told Pakistan’s prime minister, Imran Khan, at a White House ...

  Read More »
• 23 July

  ‘Could win Afghan war in a week but for deaths’

  

  Bloomberg President Donald Trump said he could end America’s longest-running war “in a week,” except that it would cost too many lives. Trump complained that the nearly 18-year US campaign in Afghanistan is “ridiculous” in a White House meeting with Pakistan’s prime minister, Imran Khan. He said he could “win” the conflict, in which the US is trying to help ...

  Read More »
• 23 July

  Boris Johnson wins British PM race

  

  Bloomberg Boris Johnson, the public face of the Brexit campaign, won the contest to succeed Theresa May as British prime minister, taking over a country in crisis and a government on the brink of breaking apart. After a six-week leadership race, which he led from the start, Johnson defeated his rival Foreign Secretary Jeremy Hunt by a landslide in a ...

  Read More »
• 23 July

  Romanian premier to run for president

  

  Bloomberg Romanian Prime Minister Viorica Dancila plans to run for president in a move that may cause friction within the ruling coalition as her main ally is also considering his candidacy. The ruling Social Democrats leaders pressed Dancila to join the presidential race as no other candidates were seen standing a chance against incumbent Klaus Iohannis, who’s seeking re-election with ...

  Read More »
• 23 July

  Kim touts North Korean submarine’s looming deployment

  

  Bloomberg North Korean leader Kim Jong-un inspected a new submarine that would soon be deployed to waters between the peninsula and Japan, state media said, a move that comes as his regime tries to step up its ability to launch missiles from subs. There was no indication in the Korean Central News Agency (KCNA) report whether the submarine was capable ...

  Read More »
• 23 July

  US stocks rise on earnings optimism; dollar advances

  

  Bloomberg US stocks rose as investors assessed a batch of strong earnings and signs of progress in trade talks with China. Treasuries fell and the dollar rose. The S&P 500 climbed for a second day, though gains faltered as the index pushed back toward 3,000. Coca-Cola climbed to a record, while Lockheed Martin and United Technologies jumped after the trio ...

  Read More »