July, 2019

• 22 July

  Philips supply chains revamp to mitigate impact of US-China trade war pays off

  

  Bloomberg Royal Philips NV’s efforts to revamp supply chains to mitigate the impact of the US-China trade dispute are paying off, with the Dutch health-care company reporting better-than-estimated profit. The maker of scanners and diagnostic gear needs China as state-owned facilities invest in the latest equipment and a private healthcare sector emerges. Demand there drove a double-digit increase in orders ...

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• 22 July

  Iran to execute group of alleged CIA-trained spies

  

  Bloomberg Iran, locked in a worsening political standoff with Western powers, has handed down death sentences to several nationals accused of being part of a CIA-trained spy network uncovered earlier this year, an official said on Monday. Seventeen people were arrested in all, a senior intelligence official told foreign media in Tehran. None of the suspects are dual nationals, according ...

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• 22 July

  Car bombing kills 7 in Somali capital

  

  Bloomberg A car bombing by al-Qaeda-linked militants killed at least seven people in Somalia’s capital, Mogadishu, a police officer said. At least nine others were wounded in the blast near a police checkpoint and hotel in the city’s K4 neighbourhood, officer Ilkase Abdi said by phone from the scene. Al-Shabaab took responsibility for the attack in a statement to Radio ...

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• 22 July

  Hong Kong protesters attacked at train station

  

  Bloomberg As the protest in Hong Kong entered its sixth week, the spotlight turned to Yuen Long, a suburb that’s closer to Shenzhen along the mainland Chinese border than the city’s central area. Fights broke out in the Yuen Long metro station miles away from the main protests after groups of men in white shirts attacked passengers with sticks and ...

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• 22 July

  May leads emergency meeting on Gulf shipping security after ‘tanker seizure’

  

  Bloomberg Prime Minister Theresa May is leading a meeting of the UK’s emergency committee to discuss the security of shipping in the Persian Gulf, after Iran seized a British oil tanker in the Strait of Hormuz. May and the committee of top officials and ministers, dubbed Cobra, has convened in London, her office said. Foreign Secretary Jeremy Hunt and Defence ...

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• 22 July

  Populist coalition of Italy nears crunch time

  

  Bloomberg Italy’s fractious populist coalition lurches into a make-or-break week as Matteo Salvini decides whether to try to force snap elections while Prime Minister Giuseppe Conte struggles to salvage the government. The fate of the coalition hangs on a possible meeting between Deputy Premier Salvini and his ally-cum-rival Luigi Di Maio of the Five Star Movement, and government talks on ...

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• 22 July

  Trump nears moment of truth to tackle ‘send her back’ chants

  

  Bloomberg At a political rally sometime in the coming weeks, Donald Trump will almost certainly be met again with a chant rising from an auditorium packed with boisterous supporters: “Send her back!” In that moment Trump will have to choose a course. He could turn to the crowd and deliver an unambiguous condemnation, telling his supporters that they shouldn’t persist ...

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• 22 July

  India aims to prevent shadow-banking crisis

  

  Bloomberg India is attempting to prevent any repeat of last year’s shadow banking crisis after detecting “signs of fragility” in some of the 50 housing finance and other non-bank lenders it is monitoring, according to central bank Governor Shaktikanta Das. The Reserve Bank of India is working closely with the country’s lenders to prevent the collapse of another large systemically ...

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• 22 July

  China banking system learns lesson

  

  Bloomberg Two months after China shocked investors with the first government seizure of a bank in two decades, market confidence in the nation’s smaller lenders has yet to fully recover. That may be just what the country needs. When it took control of Baoshang Bank Co and imposed losses on some creditors, China’s government upended the long-held assumption that it ...

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• 22 July

  Nigeria’s Interswitch hires banks for IPO

  

  Bloomberg Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, people familiar with the matter said. JPMorgan Chase & Co, Citigroup Inc and Standard Bank Group Ltd are among the firms working on an initial public offering, which may value the financial technology company at $1.3 billion ...

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