July, 2019

• 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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• 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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