June, 2019

• 24 June

  Yes Bank co-founder’s family plans sale of mortgage finance unit

  

  Bloomberg Indian banker Rana Kapoor’s family is planning to sell a stake in their six-year-old mortgage finance company, people with knowledge of the matter said, as rising wariness in the credit market erodes growth prospects of shadow finance firms. The family office run by the three daughters of the Yes Bank Ltd co-founder is working with Nomura Holdings Inc on ...

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• 24 June

  Zara’s Indian partner builds its own cheaper fashion line

  

  Bloomberg For nearly a decade, Tata Group has been Inditex SA’s partner running Zara stores in India. Now, the country’s largest conglomerate is building its own apparel empire as trend-focussed as Zara — but at half the price. Its retail arm, Trent Ltd, has fine-tuned its local supply chain to deliver “extreme fast fashion” which can get runway styles to ...

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• 24 June

  Fosun mulls takeover of $1b GV Gold

  

  Bloomberg A consortium led by Fosun International Ltd is in talks to acquire a majority stake in GV Gold PJSC, a Russian gold miner backed by BlackRock Inc, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry Co for a joint offer, the people said, asking not to be identified as ...

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• 24 June

  US equities mixed, dollar falls; Treasuries advance

  

  Bloomberg US equities fluctuated near records as investors weighed expectations for easier monetary policy against concerns about a slowing economy. Treasuries gained, while the dollar edged lower. The S&P 500 was mixed, hovering just under all-time highs reached during last week’s rally. Tech shares led gains, while healthcare paced falling stocks. Bristol-Meyers Squibb Co tumbled after saying it will divest ...

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• 24 June

  Bitcoin resurgence drives rally in Asia’s crypto-linked stocks

  

  Bloomberg Bitcoin’s climb to above $11,000 for the first time in 15 months sparked gains in related Asian stocks on Monday. GMO Internet Inc climbed 7 percent in Tokyo to its highest level since October, while Metaps Inc jumped 11 percent, Remixpoint Inc 6.2 percent and Ceres Inc 4.4 percent. In Seoul, Vidente Co climbed as much as 5.4 percent ...

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• 24 June

  1GW giant battery planned to balance UK’s power grid

  

  Bloomberg Statkraft AS joined with Statera Energy Ltd. to build a 1 gigawatt battery in the UK with a backup generator fuelled by natural gas, part of an effort to profit from the nation’s need to balance its power grid. London-based Statera will build the battery as well as an array of gas reciprocating engines, Norway-based Statkraft said. The systems ...

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• 24 June

  Clean energy set to become UK’s dominant power source this year

  

  Bloomberg The UK will generate more energy from low-carbon sources than from fossil fuels this year for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48 percent of the nation’s electricity in the first five months of 2019, according to the UK network operator National Grid Plc. Coal, which made up more than 30 ...

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• 24 June

  Daimler slashes profit forecast again over diesel emission scandal

  

  Bloomberg Daimler AG cut its profit forecast for the third time in a year, this time blaming the burden of handling longstanding proceedings around diesel emissions a month after a new guard took the helm at the world’s biggest luxury carmaker. The German manufacturer is facing investigations in Europe and the US over allegedly excessive pollution from its diesel vehicles. ...

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• 24 June

  Facebook fails to fend off lawsuit over data breach

  

  Bloomberg Facebook Inc. failed to fend off a lawsuit over a data breach that affected nearly 30 million users, one of several privacy snafus that have put the company under siege. The company’s disclosure in September that hackers exploited several software bugs to obtain login access to accounts was tagged as Facebook’s worst security breach ever. An initial estimate that ...

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• 24 June

  London pushes motorists towards using electric cars

  

  Bloomberg London’s lawmakers aren’t against cars and vans driving through its most congested parts, as long as they turn electric soon. A suite of policies aimed at cleaning up London’s toxic air pollution isn’t there to penalise drivers but to improve public health, Shirley Rodrigues, London’s Deputy Mayor for environment and energy, said at the Bloomberg Sustainable Business Summit. “The ...

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