June, 2019

• 19 June

  Chinese EV maker plans for another fundraising round

  

  Bloomberg Xpeng Motors, the Chinese electric carmaker planning another fundraising round, said it has produced 10,000 sport utility vehicles. The company, which is backed by e-commerce giant Alibaba Group Holding Ltd, said in a statement it made its 10,000th G3 SUV in the city of Zhengzhou. Among the hundreds of EV startups in China, NIO Inc and WM Motor Technology ...

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• 19 June

  Tesla to revamp Asia business structure

  

  Bloomberg Tesla Inc is revamping its organisation in Asia to put more focus on China as the company prepares to start manufacturing in the world’s largest electric-car market, people familiar with the matter said. The company is dismantling its Asia Pacific business unit and forming a new division for Greater China that will cover the mainland as well as Hong ...

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• 19 June

  Stocks near record highs as bonds slip before Fed

  

  Bloomberg US equities were little changed on Wednesday while Treasuries slipped as investors prepared for the latest Federal Reserve meeting to conclude, with anticipation growing that policy makers will signal a readiness to lower rates. The three main US stock gauges drifted alongside the dollar, while the Stoxx Europe 600 was also little changed. Earlier, shares in Asia rallied, tracking ...

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• 19 June

  ‘Libra coin a long way from launch’

  

  Bloomberg Facebook Inc Chief Operating Officer Sheryl Sandberg said the company’s planned cryptocurrency coin, Libra, is a “long way from launch.” The social-media giant unveiled plans for a new global financial system based on a so-called stablecoin — a digital currency that’s supported by established government-backed currencies and securities. The project, more than a year in the making and including ...

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• 19 June

  Emerging-market currencies offer best value, says Pimco

  Bloomberg Emerging-market currencies offer some of the best value as an eight-year run of dollar strength is “close to the end,” according to Pacific Investment Management Co (Pimco). “We like to be long a number of those,” Gene Frieda, a Pimco strategist in London, said. Slowing US growth will finally put a dent in the greenback, while counterparts in the ...

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• 19 June

  Jilted by Trump, Xi and Kim seek upper hand before G-20

  

  Bloomberg Both China’s Xi Jinping and North Korea’s Kim Jong-un have suffered from President Donald Trump’s penchant for walking away from talks. Now, he’ll have to worry about what they tell each other behind closed doors. Xi’s state visit to Pyongyang on Thursday — the first such visit by a Chinese president in 14 years — will showcase a renewed ...

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• 19 June

  ‘Changes to nuke deal minimum Iran could do’

  

  Bloomberg President Hassan Rouhani said Iran’s decision to end its compliance with some measures within the nuclear deal were the “minimum” that the Islamic Republic could do in response to the US violating the landmark accord, according to the semi-official Iranian Students’ News Agency (INSA). Rouhani said “the other side in the agreement” hadn’t only failed to fulfil its obligations ...

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• 19 June

  Merkel sees ‘strong evidence’ Iran attacked Gulf oil tankers

  Bloomberg German Chancellor Angela Merkel said there is “strong evidence” supporting a US accusation that Iran was behind last week’s attacks on oil tankers in the Gulf of Oman. “We of course take these explanations very seriously, and there is strong evidence,” the German Chancellor said at a news conference after talks with Ukraine President Volodymyr Zelenskiy in Berlin. “But ...

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• 19 June

  Japan’s Abe to skip summit with Moon

  

  Bloomberg Japan rejected a South Korean proposal for a joint compensation fund to resolve a dispute over colonial-era forced labour claims, in the latest sign of strain between the two US allies. South Korea’s Foreign Ministry said it was willing to consider diplomatic talks about compensation for Koreans forced to work for Japanese companies before and during World War II. ...

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• 19 June

  US House speaker rules out censuring Trump

  

  Bloomberg House Speaker Nancy Pelosi ruled out the possibility of censuring President Donald Trump as an alternative to impeachment, saying that it would be a half-way measure and little more than “a way out.” “Censure is nice but it is not commensurate with the violations of the Constitution, should we decide that is the way to go,” Pelosi told reporters ...

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