July, 2019

• 30 July

  Apple seen forecasting revenue drop for iPhone launch quarter

  

  Bloomberg When Apple Inc launches a new iPhone, that usually means rising revenue. Chances are that won’t happen this year. Apple was expected to report fiscal third-quarter results on Tuesday, but all eyes will be on its forecast for the fiscal fourth quarter. That’s when the Cupertino, California-based technology giant is expected to release new versions of its flagship handset. ...

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• 30 July

  Uber to layoff 400 employees, citing ‘mediocre results’

  Bloomberg Uber Technologies Inc said it’s cutting a third of its marketing department globally, as the CEO seeks to address concerns that the business is slowing down. The ride-hailing company will dismiss about 400 employees. Dara Khosrowshahi, the CEO, told employees of the changes in an email. “Today, there’s a general sense that while we’ve grown fast, we’ve slowed down,” ...

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• 30 July

  Majority of Trump’s trade war aid went to biggest farms: Study

  

  Bloomberg More than half of the Trump administration’s trade war aid for farmers went to just a 1/10 of the recipients in the program, according to analysis of payments by an environmental organisation. Eighty-two farming operations received more than $500,000 in payments through April under the US Agriculture Department’s Market Facilitation Program, according to the Environmental Working Group, which analysed ...

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• 30 July

  NY probes Capital One data breach

  Bloomberg New York state is opening an investigation into a data breach at Capital One Financial Corp that involves the personal information of 100 million consumers. The breach allowed for illegal access to names, Social Security numbers, dates of birth, addresses and other highly sensitive personal information, New York Attorney General Letitia James said in a statement.

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• 30 July

  Surescripts terminates contract with vendor to Amazon unit, citing misuse

  

  Bloomberg Surescripts, a company that enables electronic prescribing of drugs, terminated its contract with a vendor that it says improperly requested access to patients’ medication histories to give to Amazon.com’s PillPack subsidiary. Surescripts, which is partially owned by two of the largest pharmacy-benefit managers, said in a statement it has alerted the FBI and stopped its vendor, ReMy Health, from ...

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• 30 July

  Europe’s privacy rules hurt small firms, not tech giants

  

  The European Commission is largely hap-py with the first year of its sweeping digital privacy rules. Evidence moun-ts, however, that the General Data Protection Directive, or GDPR, as applied today hur-ts smaller firms and has no effect on tech giants, which are the least interested in preserving user privacy. The directive went into effect in May 2018, demanding companies provide ...

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• 30 July

  Investors could drive global debt crisis

  

  Some investors are fretting that the massive global buildup of debt since the financial crisis a decade ago can’t be sustained. It can, at least for a bit longer — but only at the risk of a more severe correction in the future. That’s because this particular credit cycle may not be typical. The current expansion is largely policy-driven. Governments ...

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• 30 July

  $1.6tn Amundi fund warns of ticking liquidity bomb

  Bank of England Governor Mark Carney says investment funds that promise to allow customers to withdraw their money on a daily basis are ”built on a lie.” The chief investment officer of Europe’s biggest independent asset manager agrees with him. “There is no point denying we are faced with a looming liquidity mismatch problem,” says Pascal Blanque, who oversees more ...

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• 30 July

  Debt ceiling deal shows both parties love debt

  As you’ve probably heard, House Democrats have cut a two-year budget deal with Senate Republicans and President Donald Trump to suspend the federal debt ceiling and increase federal spending by $320 billion. The debt ceiling is an arbitrary and possibly counterproductive construct, while the spending increases aren’t all that big if you assume that inflation will continue at about 2 ...

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• 30 July

  China to conquer global used-car export market

  

  A Chinese company in Guangzhou recently exported 300 used cars to buyers in Cambodia, Nigeria, Myanmar and Russia. The shipment was a first for China, which till now had restricted large-scale exports of used cars in deference to manufacturers, who feared that poor vehicle quality could damage their reputations. There will be more such shipments — and their impact will ...

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