June, 2019

• 8 June

  Labour wins UK by-election as Farage warns over Brexit

  

  Bloomberg The main UK opposition Labour Party unexpectedly held onto its Peterborough seat, slowing the march of Nigel Farage’s new pro-Brexit movement which bookmakers’ had expected to win the by-election. The result will alarm members of the UK’s ruling Conservatives — who were beaten into third place by Farage’s Brexit Party — as they weigh up who should take over ...

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• 8 June

  The saga of the Chinese mole reads like a thriller

  

  Behind the admission by a former CIA officer that he plotted to spy for China lies an astonishing tale of Beijing’s espionage against America — and the vindication of other CIA officers who were falsely suspected of being the Chinese mole. This saga has a classic thriller plot, in which a suspect must find the real villain to clear his ...

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• 8 June

  Google should be afraid of US scrutiny

  

  This is the moment the US technology superpowers surely knew was coming: The US government is preparing to crawl all over Google to figure out whether it is an abusive monopolist. Google parent company Alphabet Inc. and the other tech giants should be quaking in their fleece vests. Bloomberg News and other news organisations reported that the US Department of ...

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• 8 June

  China’s strategy is written in earrings

  

  The Chinese have always lived by the saying “better broken jade than intact tile.” This explains why Chinese TV anchor Liu Xin picked out jade earrings and a jade pendant necklace to wear in her much-hyped debate on the US-China trade war with Fox anchor Trish Regan. The meaning of the jewelry, apparent to millions of Chinese who watched the ...

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• 8 June

  Greece banks bad-debt monster is alive, kicking

  Greece’s banks have staged a spectacular stock market rally this year. Shares of two of the country’s top four lenders – Piraeus Bank SA and National Bank of Greece SA — have more than doubled. The possibility of a change in government has spurred the latest bump — but investors’ optimism may be premature. Fundamentally, little has changed since last ...

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• 8 June

  Not all of the developing nations are created equal

  

  Economists tend to categorise countries by their per-capita income levels. The best known is the World Bank’s system, which classifies countries into low, lower-middle, upper-middle and high income, according to the per capita gross national income: Other international development agencies, like the International Monetary Fund (IMF) and the United Nations, tend to adopt the World Bank’s taxonomy when distinguishing countries ...

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• 8 June

  Barclays is chasing new growth with bad old habits

  

  Barclays Plc Chief Executive Officer Jes Staley has staked his own personal success on rebuilding the British bank’s securities unit. That pursuit of Wall Street stardom may be leading the firm into treacherous territory. The remnants of a team disbanded years ago is making millions of dollars for the bank by gaming tax loopholes, Bloomberg News reported. The traders arrange ...

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• 8 June

  Jaguar, where’d that extra $1 billion come from?

  

  Cash is fungible. So if a company suddenly has $1 billion more of it, does it matter where it comes from? For Jaguar Land Rover, it should. In its latest results, the iconic UK car company, owned by Tata Motors Ltd., posted around 1.4 billion pounds of free cash flow ($1.77 billion). That’s a sharp turnaround from a running cash-burn ...

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• 8 June

  Amazon unveils new drone for deliveries

  

  Bloomberg Amazon.com Inc has unveiled a revolutionary new drone — part helicopter and part science-fiction aircraft — that the company expects to use for test deliveries of toothpaste and other household goods starting within months. The new device takes off vertically, then tilts to fly horizontally like a plane. It also features artificial intelligence, using a suite of sensors the ...

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• 8 June

  Apple to buy Drive.ai in bid for autonomous vehicle talent

  

  Bloomberg Apple Inc is preparing to buy startup Drive.ai in a small deal that will bring more engineers with experience in autonomous vehicle technology to the iPhone maker, according to people familiar with the matter. It’s unclear how much Apple is paying. Drive.ai has raised about $77 million in funding since it was founded in 2015, and was valued at ...

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