June, 2019

• 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,” ...

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• 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 ...

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• 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, ...

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• 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 ...

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• 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 ...

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• 26 June

  Khamenei scorns talks after being sanctioned by Trump

  

  Bloomberg Iran’s supreme leader scorned the idea of negotiations to ease his country’s tense standoff with the US in his first comments since being sanctioned by Donald Trump. “If we agree in negotiations to their demands, they will make the nation miserable,” Ayatollah Ali Khamenei said, arguing Washington was attempting to strip Iran of its economic and defense capabilities. “And ...

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• 26 June

  Ethiopian PM vows to press ahead with his reform agenda

  

  Bloomberg Ethiopian Prime Minister Abiy Ahmed vowed to press ahead with his reform agenda, saying he won’t be deterred by attacks on the country’s leadership. “We will learn from the obstacles to prevent it from happening again,” Abiy said in a statement posted on his office’s Twitter account. “We will not steer away from our reforms, not even for a ...

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• 26 June

  US close to draft deal with Taliban: Pompeo

  

  Bloomberg Secretary of State Michael Pompeo said in a visit to Afghanistan that the US is close to finishing a draft deal with the Taliban to ensure the country doesn’t become a terrorist haven, paving the way for talks on withdrawing American troops after 18 years of war. Pompeo made the remarks from the US embassy in Kabul during the ...

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• 26 June

  Brazil top court postpones decision to release Lula

  

  Bloomberg Brazil’s Supreme Court postponed a decision on whether to release former President Luiz Inacio Lula da Silva from jail while rejecting other requests that could have freed him temporarily. Five justices from the second chamber of the nation’s Supreme Court initially ruled against a habeas corpus for the former president, who has been imprisoned since April last year. A ...

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• 26 June

  No-deal Brexit takes centre stage in battle to be UK PM

  

  Bloomberg Boris Johnson toughened his Brexit rhetoric with a “do or die” pledge to leave the European Union on October 31 as Jeremy Hunt, his underdog rival to become UK prime minister, battled to persuade Tory party members the strategy is flawed. The front-runner challenged Hunt to match his commitment to leave “come what may” in a letter posted on ...

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