June, 2019

• 23 June

  Japan Supreme Court rejects appeal by ex-Lotte executive

  

  Bloomberg Japan’s Supreme Court rejected an appeal by former Lotte Group executive Shin Dong-joo, who sought compensation for being ousted from posts in the retail-to-chemicals conglomerate, Yonhap News reported. Shin, the eldest son of founder Shin Kyuk-ho, had sought $5.8 million over what he called his unfair dismissal as a board member at units of the company between December 2014 ...

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• 23 June

  Slow monsoon progress threatens dry spell for India agriculture stocks market

  

  Bloomberg As monsoon rains that started late make a slow progress across India, shares of local seed producers, fertilisers and agro-chemical makers are reeling under a dark cloud. The southwest monsoon, which waters more than half of India’s farmland, has registered a 43 percent deficit through June 19 after hitting the southern coast a week later than normal on June ...

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• 23 June

  Jakarta, Manila to ratify maritime boundary deal

  Bloomberg Indonesia and the Philippines said they will begin to ratify a deal in August to establish a boundary between overlapping so-called exclusive economic zones. The deal, which was signed in May, will bolster economic ties by determining the limits of borders in the Mindanao and Celebes seas — marking the end of 20 years of negotiations. Philippine President Rodrigo ...

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• 23 June

  FedEx rejects package with Huawei handset sent to US

  

  Bloomberg FedEx Corp rejected a package containing a Huawei Technologies Co phone being sent from the UK to the US in what the mail company says was a mistake, which has elevated beyond routine because of President Donald Trump’s decree in May that limits trade with the Chinese technology company. The phone was being sent to a PCMag.com phone analyst, ...

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• 23 June

  China no match for Japan in SE Asia infrastructure race

  

  Bloomberg Japan is still winning the Southeast Asia infrastructure race against China, with pending projects worth almost one and a half times its rival, according to the latest data from Fitch Solutions. Japanese-backed projects in the region’s six biggest economies — Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam — are valued at $367 billion, the figures show. China’s tally is ...

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• 23 June

  US weighs caps on uranium imports citing ‘security risk’

  

  Bloomberg The US Commerce Department has recommended the White House take steps to protect the domestic production of uranium after finding the nation’s reliance on imports was a national security risk, said three people briefed on the matter. Among the trade remedies recommended is to require nuclear power plants to purchase a minimum of 5 percent of the radioactive fuel ...

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• 23 June

  T-Mobile-Sprint merger draws more opposition

  

  Bloomberg T-Mobile US Inc.’s acquisition of Sprint Corp. drew additional opposition from states as four more attorneys general joined a lawsuit seeking to block the merger of the wireless carriers, sending Sprint shares lower. The attorneys general of Massachusetts, Hawaii, Minnesota and Nevada are signing on to the complaint, a lawyer for New York said at a court hearing. That ...

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• 23 June

  Soybeans could be next market to surge as US showers drag on

  

  Bloomberg Corn prices have been on an epic run. Now, soybeans could soon be catching up. With more rains forecast for the US Midwest, oilseed plantings are under threat and hedge funds are backing away from their bearish wagers. Meanwhile, corn is heading for its best quarterly advance since 2010 and the funds are betting there’s more room to run, ...

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• 23 June

  European steelmakers in crosshairs as climate pressure grows

  

  Bloomberg Flames leap from cauldrons brimming with molten iron as they’re tipped into giant vats at one of Europe’s largest steel mills. Heated to over 1,000 degrees Celsius (1,832 Fahrenheit) in furnaces fired by coal, the liquid metal sloshing at Thyssenkrupp AG’s facility in Duisburg, Germany, will eventually wind up in automobiles, wind turbines and everyday household items from washing ...

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• 23 June

  Trump says major sanctions on Iran after drone downed

  

  Bloomberg President Donald Trump said the US will impose major new sanctions on Iran on Monday, days after he abruptly called off a plan for airstrikes against the Islamic Republic based on the concept of proportionality after Iran shot down a US Navy drone. The sanctions move, announced on Twitter with no additional detail, came as Trump spent the day ...

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