July, 2019

• 30 July

  UK PM to press EU for new Brexit deal

  

  Bloomberg UK Prime Minister Boris Johnson will spend the next few weeks pressing the European Union to negotiate a better Brexit deal, his office said, while preparing the country to leave the bloc in case he fails. A messy no-deal divorce is a scenario that has concerned business leaders and weakened the pound since Johnson won the contest to become ...

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• 30 July

  Trump push for Hormuz patrol puts Abe in a fix

  

  Bloomberg US calls for Japan’s help protecting shipping from Iranian attacks have put Prime Minister Shinzo Abe in a bind between angering his country’s military ally and upsetting voters suspicious of overseas deployments. Secretary of State Michael Pompeo confirmed that the US has asked Japan to join naval patrols in the Strait of Hormuz, a subject of much speculation in ...

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• 30 July

  Ukraine turns to blueprint that rebuilt ex-communist Europe

  

  Bloomberg As some of the European Union‘s eastern members embrace more state-led economic models, Ukraine is turning to the playbook that helped rebuild the continent’s ex-communist wing back in the 1990s. With help from the International Monetary Fund, President Volodymyr Zelenskiy wants to sell state companies, trim the budget deficit and relax rules for land ownership. The ideas have been ...

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• 30 July

  US stocks fall on earnings, trade talk; Treasuries gain

  

  Bloomberg US stocks fell a second day amid a mixed bag of corporate results and growing speculation a trade deal with China remains elusive. Treasuries edged higher as the Federal Reserve began deliberating on the path for interest rates. The S&P 500 Index slumped, with overnight trading reaching lows after President Donald Trump criticised China just as his negotiators start ...

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• 30 July

  Australia’s $239b stock rally blasts past record high

  

  Bloomberg One of this year’s best-performing stock markets has just hit a fresh record. Australia’s S&P/ASX 200 Index reached its highest level, having added about $239 billion in value this year as investors cheered a dovish central bank, a surprise federal election victory by the incumbent center-right government and skyrocketing iron ore prices. The gauge rose 0.3 percent to close ...

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• 30 July

  Tesla to pay China $323m a year in tax

  Bloomberg Tesla Inc agreed to pay China $323 million in tax every year as part of a deal with local authorities to build an electric-vehicle (EV) factory on the outskirts of Shanghai. Under the terms of the lease with the Shanghai government, Tesla must start generating the annual tax revenues at the end of 2023 — or hand the land ...

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• 30 July

  Huawei posts 23% revenue growth amid US sanctions

  

  Bloomberg Huawei Technologies Co reported a 23 percent rise in revenue to 401.3 billion yuan ($58 billion) in the first half as the Chinese telecommunications giant withstood US efforts to curb its business. The profit margin for period was 8.7 percent in the six months ended in June, the Shenzhen-based company said in a statement. Smartphone shipments for the half ...

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• 30 July

  Comcast and partners make offer for stake in Zee Entertainment

  

  Bloomberg A consortium that includes US cable giant Comcast Corp, James Murdoch’s Lupa Systems and Blackstone Group Inc has made an offer for a stake in Zee Entertainment Enterprises Ltd, India’s largest private broadcaster, people familiar with the matter said. The group plans to snap up a 51 percent stake, which has a market value of about 190 billion rupees ...

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• 30 July

  BMW, Audi to skip Tokyo auto show

  Bloomberg BMW and Audi will skip this year’s Tokyo Motor Show, leaving Daimler’s Mercedes-Benz as the only major foreign luxury carmaker to showcase its models in Japan’s biggest auto industry event. Audi parent Volkswagen AG, Peugeot SA and Volvo Cars will also be absent this year, according to organiser Japan Automobile Manufacturers Association (JAMA). In the past, the companies were ...

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• 30 July

  Japan’s taste for Brexit lamb may not be enough for UK farmers

  

  Bloomberg The UK government has a message for British sheep farmers worried about the impact of a no-deal Brexit: Look East. “I would point to the market in Japan, that has just been opened to Welsh and British sheep,” Welsh Secretary Alun Cairns told BBC Radio. “That is a significant market for which we haven’t really scratched the surface yet.” ...

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