July, 2019

• 6 July

  Can anything delay the inevitable July Fed rate cut?

  

  For weeks now, financial markets have been treating a July interest-rate cut by the Federal Reserve as a sure thing. That’s a big deal because over the past quarter-century, the central bank has never failed to deliver when implied odds reach 100 percent. I’m certainly not one to fight the bond markets. But … there’s a first time for everything. ...

  Read More »
• 6 July

  Samsung fixes folding phone redesign after screen failures

  

  Bloomberg Samsung Electronics Co has completed a two-month redesign of the Galaxy Fold to fix embarrassing screen failures that forced its delay, people familiar with the matter say, allowing the Korean giant to debut its marquee smartphone in time for the crucial holiday season. The world’s largest smartphone maker is now in the final stages of producing a commercial version ...

  Read More »
• 6 July

  Amazon to hire 2,000 in UK for latest tech ventures

  

  Bloomberg Amazon.com Inc is set to hire more than 2,000 workers in the UK, including engineers, software developers and data scientists, to develop its latest technology ventures. The Seattle-based tech giant’s UK workforce will total almost 30,000 people by the end of the year, and will include cloud and machine learning experts, corporate roles and fulfillment and delivery workers, the ...

  Read More »
• 6 July

  BMW and Daimler to offer self-driving cars from 2024

  

  Bloomberg BMW AG and Daimler AG will offer cars capable of navigating on highways by themselves starting in 2024, as the luxury-car rivals cooperate to speed up the development of autonomous vehicles. They plan to sell cars equipped with so-called Level 4 self-driving technology, meaning the vehicles could manage motorway driving and parking without intervention from the driver, who will ...

  Read More »
• 6 July

  Key Apple designer lands at home robotics startup

  

  Bloomberg Rico Zorkendorfer, among several members of Apple Inc’s industrial design team to leave the company in recent months, has joined Bumblebee Spaces, a startup seeking to merge robotics with home furnishings. Zorkendorfer left Apple in April and is now leading design at the San Francisco-based startup that is combining smart home products and robotics, Sankarshan Murthy, the company’s co-founder ...

  Read More »
• 6 July

  Ford readies for push in EV: Morgan Stanley

  Bloomberg Ford Motor Co is preparing to make a bigger push in electric vehicles (EV), according to Morgan Stanley. The company doesn’t currently offer any electric cars although it has been heavily investing in such technology. The carmaker’s ongoing discussions with Volkswagen AG promise to take its electric-car ambitions “to the next level,” analysts led by Adam Jonas wrote in ...

  Read More »
• 6 July

  EU governments weigh Carney for top IMF job

  

  Bloomberg European governments are actively discussing nominating Bank of England (BOE) Governor Mark Carney as the next head of the International Monetary Fund, according to a person familiar with the matter. While a Canadian by birth, Carney holds British and Irish passports, so his selection would technically preserve the seven-decade practice of a European running the Washington-based lender. The BOE ...

  Read More »
• 6 July

  India to inject $10.2b into state banks

  

  Bloomberg India will inject another 700 billion rupees ($10.2 billion) into state banks, giving them a bigger cushion to absorb loan losses and bolster credit growth at a time when the country’s shadow banks are in retreat. The new infusion will “boost capital so that credit can be further improved,” Finance Minister Nirmala Sitharaman said, while presenting the federal budget ...

  Read More »
• 6 July

  Lagarde may become first woman to lead ECB

  

  Bloomberg Christine Lagarde is set to join what remains a minority of women in senior roles at euro-area central banks. While she’s secured the top job at the ECB, all the permanent governors in the currency bloc’s 19 members are men. Female representation in high-ranking positions is still lacking at the Frankfurt-based institution and most of the national monetary authorities. ...

  Read More »
• 6 July

  S Africa’s banking rush surprises regulator

  Bloomberg Shortly after being appointed South Africa’s Registrar of Banks in 2015, Kuben Naidoo asked his colleagues where the banking license division was. He was told that there wasn’t one because the registrar hadn’t received an application for 11 years. After Naidoo received his first application from TymeBank that year, the activity hasn’t stopped. The regulator has received applications from ...

  Read More »