July, 2019

• 10 July

  France to end homeopathy funding

  Bloomberg France will stop funding the homeopathic pills and tinctures made by Boiron SA and rivals at the start of 2021, following the advice of a health panel that spent months reviewing the medicines. Boiron CEO Valerie Poinsot has said that sales of reimbursed treatments could plummet by 50 percent in France, where the company brings in almost half its ...

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• 10 July

  UK lags behind in efforts to cut greenhouse gas pollution

  

  Bloomberg The UK has fallen behind on its promises to slash emissions and fight climate change despite claims it’s leading major industrialised nations in its fight to slow global warming. That’s the conclusion of the Committee on Climate Change (CCC), the government’s official adviser on environmental policies, which suggests ministers need to take much more dramatic action to meet their ...

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• 10 July

  Feud between India’s IndiGo founders starts getting ugly

  

  Bloomberg A dispute between the founders of Asia’s biggest budget airline deepened after one accused the other of dubious governance practices, roiling the company’s shares and raising concerns that the feud will drag on. Billionaire Rakesh Gangwal informed IndiGo’s operator, InterGlobe Aviation Ltd, that he flagged some of his governance concerns about co-founder Rahul Bhatia to the Securities and Exchange ...

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• 10 July

  Boris Johnson’s ‘Heathrow plan’ risks 300,000 jobs

  

  Bloomberg Cancellation of plans for a third runway at London’s Heathrow airport could cost the UK economy more than 300,000 jobs, an industry study warned as would- be prime minister Boris Johnson said he’d review the project. As many as 120,000 posts would be put at risk by any erosion of Britain’s competitiveness in air transport, while a further 200,000 ...

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• 10 July

  Levi Strauss tumbles as Q2 earnings slip 21%

  Bloomberg Levi Strauss & Co fell in late trading as profit in its second quarter as a public company tumbled from a year earlier. The denim maker said on its conference call that adjusted diluted earnings slipped 21 percent from the prior year to 17 cents. When including $29 million of expenses associated with its IPO, second-quarter profit was 7 ...

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• 10 July

  Airbus builds order lead with June haul as Max jet weighs on Boeing

  

  Bloomberg Airbus SE booked a slew of jetliner deals from last month’s Paris Air Show, dragging the company out of one of the thinnest sales periods in its recent history. Toulouse, France-based Airbus signed contracts for 145 planes in June, taking the first-half total into positive territory at 88, as cancellations had previously outweighed new sales. The results outpaced arch-rival ...

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• 10 July

  Air France slams French plan for new tax on plane tickets

  

  Bloomberg Air France condemned the French government’s plan for a new tax on flights, saying the levy would hurt the airline’s ability to invest in less polluting planes and aggravate already high costs of operating in the country. “This new tax would significantly penalise Air France’s competitiveness,” the French arm of Air France-KLM said in a statement, estimating the extra ...

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• 10 July

  US stocks advance as gold, Treasuries surge on Powell

  

  Bloomberg US stocks rose towards all-time highs and Treasuries climbed with gold as comments by Jerome Powell cemented market bets for a rate cut this month. Equities that had slumped since the strong jobs report rallied back to intraday records after the Fed chairman signalled a willingness to lower rates, citing a slowing global economy and trade issues. Gains faded ...

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• 10 July

  Bitcoin approaches highest price of ’19

  

  Bloomberg The Bitcoin bulls are back in control, with the largest cryptocurrency approaching its highest price of the year after breaching $13,000 for the first time in two weeks. The digital asset gained for a third day to as high as $13,154, continuing its recovery from the drop that almost pushed it below $10,000 last week. It reached a more ...

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• 10 July

  Deutsche Bank assures fixed income staff ‘their jobs safe’

  

  Bloomberg Deutsche Bank AG fixed-income head Ram Nayak assured staff they will keep their jobs at his business even as the lender cuts 18,000 positions in a sweeping overhaul, according to people familiar with the matter. The bank’s move to “resize” debt trading operations won’t lead to dismissals, Nayak told colleagues on a conference call, the people said, asking not ...

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