July, 2019

• 23 July

  ‘India should ease law on firing workers’

  

  Bloomberg India should ease norms for hiring and firing workers to make it easier for companies to do business in the country, according to an ex-adviser to PM Narendra Modi’s government. Easing the rules are crucial for employers, as their primary aim is not to fire workers, Arvind Panagariya, the head of government think-tank NITI Aayog, said in New Delhi. ...

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• 23 July

  Huawei rewards staff for revenue growth amid US ban

  

  Bloomberg Huawei Technologies Co quickened revenue growth to roughly 30 percent in the first half after select teams secured critical supplies to keep production going despite US technology export restrictions, people familiar with the matter said. Two months into a Trump-administration ban that cut Huawei off from American suppliers, China’s largest technology company is starting to feel the pinch. Still, ...

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• 23 July

  Facebook, Amazon set lobbying records as tech scrutiny grows

  

  Bloomberg Facebook Inc and Amazon.com Inc set records for lobbying in the second quarter as Washington ramped up scrutiny of big technology companies, while Google’s spending dipped as it continued to reshuffle its influence operations. The world’s largest social media site spent more than $4.1 million on lobbying, the most among big internet platforms, an increase from its previous high ...

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• 23 July

  US, France sidestep tax feud following G-7 confrontation

  

  Bloomberg The US and France agreed to push ahead with creating a global digital tax system at a Group of Seven meeting, papering over a feud on the matter that still has Washington dangling threats of tariffs. French Finance Minister Bruno Le Maire said Europe had won a concession from the US that changes to tax rules should address “highly ...

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• 23 July

  Standard Life fined $38m over pension sales

  

  Bloomberg Standard Life Assurance Ltd. was fined 30.8 million pounds ($38 million) by UK regulators over how it handled sales of some pension products. The Financial Conduct Authority (FCA) said that Standard Life, part of Phoenix Group Holdings Plc, offered employees “large financial incentives to sell annuities, which encouraged them to place their own financial interests ahead of their customers.” ...

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• 23 July

  UK manufacturing sees most slump in a decade

  Bloomberg UK manufacturers are more pessimistic than at any time in the past three years after order books shrank at a pace last exceeded during the financial crisis a decade ago, according to the Confederation of British Industry. The gloomy assessment adds to evidence that the economy suffered a Brexit hangover in the last quarter after orders were brought forward ...

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• 23 July

  Union says AT&T reneged on deal made before Time Warner merger

  

  Bloomberg A union at AT&T Inc is accusing the company of reneging on a labour agreement that helped gain the support of worker groups for last year’s $85 billion takeover of Time Warner. As part of a deal renewed in 2017, the Communications Workers of America pledged to support expansion efforts by AT&T and the company agreed to terms for ...

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• 23 July

  Harley lowers profit margin outlook

  Bloomberg Harley-Davidson Inc cut its full-year operating margin outlook and 2019 bike shipment forecast after weak global motorcycle sales and the impact of tariffs dented second quarter earnings. The Milwaukee-based manufacturer slashed its shipment forecast this year to 212,000 to 217,000, from a previous range of 217,000 to 222,000. Lower shipments also prompted it to reduce its expected 2019 operating ...

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• 23 July

  Trump offers help in Kashmir, citing Modi request India rebuts

  

  Bloomberg President Donald Trump offered to help resolve India and Pakistan’s long-running conflict over the territory of Kashmir — citing an invitation from Narendra Modi that the Indian prime minister’s government later denied. “If you would want me to mediate or arbitrate, I would be willing to do that,” Trump told Pakistan’s prime minister, Imran Khan, at a White House ...

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• 23 July

  ‘Could win Afghan war in a week but for deaths’

  

  Bloomberg President Donald Trump said he could end America’s longest-running war “in a week,” except that it would cost too many lives. Trump complained that the nearly 18-year US campaign in Afghanistan is “ridiculous” in a White House meeting with Pakistan’s prime minister, Imran Khan. He said he could “win” the conflict, in which the US is trying to help ...

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