June, 2019

• 26 June

  India considers tougher rules for audit firms

  

  Bloomberg India is considering tougher rules for audit firms, including a cap on the number of listed companies they can examine, according to a person with knowledge of the matter, as the government seeks to tighten oversight after a recent spate of governance lapses. To stamp out conflicts of interest, the corporate affairs ministry is also weighing either a complete ...

  Read More »
• 26 June

  Macron calls for strengthening of Renault, Nissan ‘flagship’

  

  Bloomberg French President Emmanuel Macron offered a political boost to the fraught partnership between Renault SA and Nissan Motor Co, calling for their car-making alliance to be strengthened. The combination is “a giant and a force that must not only be preserved but developed through synergies and alliances in all their forms to make it stronger in the face of ...

  Read More »
• 26 June

  Tech stocks rise on earnings; Treasuries fall, dollar rises

  

  Bloomberg Technology shares gained on strong earnings from a leading chipmaker, while Treasuries fell with gold. The Nasdaq indexes rose after Micron Technologies Inc’s profit topped estimates. Chipmakers Intel Corp and Cisco Systems Inc also rallied. The S&P 500 pared early gains as heathcare shares and consumer staples weighed on benchmarks. Futures spiked higher overnight after a CNBC report that ...

  Read More »
• 26 June

  Bitcoin surge pushes weekly gain to 30%

  

  Bloomberg Bitcoin’s furious run is starting to look more and more like it did at the height of crypto-mania two years ago. The virtual currency surged as much as 14 percent on Wednesday, topping $12,900 for the first time since January 2018, and bringing its gain to about 30 percent. The digital asset has climbed more than 200 percent since ...

  Read More »
• 26 June

  FedEx sees improving outlook for e-commerce in ‘transition year’

  

  Bloomberg FedEx Corp. predicted a “transition year’’ for fiscal 2020, with an improving outlook for e-commerce profits tempered by concerns that international trade tensions will worsen. Revenue per package in the ground-delivery operation rose 2.2 percent in the quarter ending on May 31 as volume growth accelerated to 8.8 percent, FedEx said in a statement. That signalled progress in the ...

  Read More »
• 26 June

  BMW drags feet on Merkel’s call for battery champions

  Bloomberg BMW AG isn’t showing much enthusiasm to get on board with a German government push to establish battery cell production in Europe, slowing a plan to create an industry that keeps pace with Asian rivals and get on the front foot on elusive climate goals. “I don’t believe it makes sense for every carmaker to make their own cells,” ...

  Read More »
• 26 June

  Tesla has to go ‘all out’ to hit delivery record, says Musk

  

  Bloomberg Tesla Inc. could be on the verge of a quarterly record for vehicle deliveries, though the electric carmaker will need to go “all out” in the last few days of the month, Chief Executive Officer Elon Musk wrote in an internal memo. “There is a lot of speculation regarding our vehicle deliveries this quarter,” Musk told employees in an ...

  Read More »
• 26 June

  Oracle’s rising sales a reprieve for investors

  

  Bloomberg Oracle Corp.’s shares climbed after the world’s second-largest software maker returned to sales growth and gave a forecast indicating the momentum may continue. For investors, the results were a reprieve amid the company’s uneven transition to cloud-based computing. Revenue increased 1.1 percent to $11.1 billion in the period ended on May 31 from a year earlier, the Redwood City, ...

  Read More »
• 26 June

  PG&E creditor group pushing to scuttle $31b restructuring plan

  

  Bloomberg A group of creditors angling for control of PG&E Corp. is pushing to scuttle the bankrupt utility’s $31 billion restructuring plan. An ad hoc committee of unsecured lenders filed a motion to terminate the period of exclusivity that PG&E has to file a plan for emerging from Chapter 11, according to a court filing. That period ends on September ...

  Read More »
• 26 June

  Bristol-Myers agrees to divest Celgene’s drug to close deal

  Bloomberg Bristol-Myers Squibb Co. agreed to divest one of Celgene Corp.’s most lucrative drugs in order to close their planned $74 billion merger. Under an agreement with the Federal Trade Commission, Bristol-Myers will sell off the psoriasis pill Otezla to appease antitrust regulators’ concerns, the company said in a statement. Bristol- Myers shares fell 7.6 percent to $45.57 in New ...

  Read More »