June, 2019

• 10 June

  Citi: Russia may be testing US gas nerve with Europe push

  

  Bloomberg Russia’s strong natural gas shipments to Europe may be an attempt to test the resilience of US exporters, according to Citigroup Inc. Shipments this year from Russia have helped boost European gas storage to near full capacity and exace- rbated the regio- n’s oversupply, the bank’s analysts including Ed Morse wrote in a June 9 report. One motivation for ...

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• 10 June

  China exporters dodge US tariffs with fake made-in-Vietnam tags

  

  Bloomberg Some Chinese exporters are going to extreme lengths to avoid the hit from Donald Trump’s tariffs. Vietnam said that it found dozens of fake product-origin certificates and illegal transfers by companies trying to sidestep US tariffs on everything from agriculture to textiles and steel. It was one of the first times an Asian government has publicly alleged such misbehaviour ...

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• 10 June

  Alibaba picks CICC, Credit Suisse to lead Hong Kong offer

  

  Bloomberg Chinese internet giant Alibaba Group Holding Ltd has picked China International Capital Corp (CICC) and Credit Suisse Group AG to lead a planned Hong Kong share sale, people familiar with the matter said. The online retailer is in discussions with other investment banks seeking a role on the offering, according to the people, who asked not to be identified ...

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• 10 June

  China’s rare earth exports drop as prices soar on possible curbs

  

  Bloomberg China’s rare earths shipments fell in May as prices surged on signs of possible export controls on the minerals amid the escalating trade war with the US. Exports declined to 3,640 tons last month, down 16 percent from April and an 18 percent drop from a year earlier, according to Chinese customs data. Shipments, which can be volatile month-to-month, ...

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• 10 June

  Japan’s economy set to shrink in second quarter, says top forecaster

  Bloomberg Japan’s economy is set to contract in the current quarter following growth that was better than first estimated in the first three months of the year, according to one of the country’s top economic forecasters. Gross domestic product is likely to shrink by 0.5 percent in the second quarter, Yoshiki Shinke, chief economist at Dai-Ichi Life Research, said in ...

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• 10 June

  Nissan hits out at Renault, leaving alliance on shaky ground

  

  Bloomberg The decades-old alliance of Renault SA and Nissan Motor Co descended into open enmity as the two sides sparred over governance changes at the Japanese automaker, an apparent tit-for-tat following Nissan’s refusal to endorse a deal with Fiat Chrysler Automobiles NV. Nissan Chief Executive Officer Hiroto Saikawa said it was “most regrettable” that Renault planned to stymie board reforms, ...

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• 10 June

  Kazakhs elect former ruler’s ally as president amid protests

  

  Bloomberg Kazakhs elected former leader Nursultan Nazarbayev’s favoured successor as president, signalling political continuity in central Asia’s biggest energy producer even as street protests flared and international observers attacked the conduct of the vote. Kassym-Jomart Tokayev won the ballot with 71 percent, defeating six other candidates, according to a central election commission statement broadcast by state TV, which put turnout ...

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• 10 June

  EU, Russia back same side between dueling Moldova government

  

  Bloomberg The European Union and Russia have both come out in support of a coalition government in Moldova, long on the fault line between East and West, in a dispute that has left the country of 3.5 million with two presidents and two governments. The pro-Russian Socialist Party of President Igor Dodon made a surprise announcement it was forming a ...

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• 10 June

  Hong Kong vows to pursue extradition bill despite protest

  

  Bloomberg Hong Kong’s leader pledged to press ahead with Beijing-backed legislation easing extraditions to China despite one of Hong Kong’s largest protests since the former British colony’s return more than two decades ago. Chief Executive Carrie Lam told reporters that the government “could see people are still concerned about the bill,” which would allow Hong Kong to enter into one-time ...

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• 10 June

  Conte warns populists on talks with Brussels

  

  Bloomberg Prime Minister Giuseppe Conte has a message for the quarrelsome populists who’ve run Italy’s coalition government over the last year: keep quiet, and let me do the talking. The government will be done if Italy can’t make a budget compromise with the European Union, Conte told Corriere della Sera. Without a deal, “we all risk to go home. For ...

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