June, 2019

• 2 June

  Toshiba to pay Total $815m to exit LNG plant

  Bloomberg Toshiba Corp will transfer its rights to process natural gas at the Freeport LNG project in Texas to France’s Total SA, the companies said. Toshiba will pay Total $815 million to hand over the 20-year liquefaction rights to the French major and expects to finalise the deal by March 2020, according to a statement from the Tokyo-based company. Total ...

  Read More »
• 2 June

  India roiled as US yanks its status as developing nation

  

  Bloomberg President Donald Trump opened another potential front in his trade war, terminating India’s designation as a developing nation and thereby eliminating an exception that allowed the country to export nearly 2,000 products to the US duty-free. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump ...

  Read More »
• 2 June

  US wants T-Mobile-Sprint deal to create national competitor

  

  Bloomberg Top Justice Department officials want T-Mobile US Inc and Sprint Corp to lay the groundwork for a new wireless carrier — with its own network — as a condition to clearing their $26.5 billion merger, according to a person familiar with matter. The two companies have been pondering additional concessions that could help win Justice Department approval for their ...

  Read More »
• 2 June

  US goods-trade gap widens to $72.1bn

  Bloomberg The US merchandise-trade deficit widened for a second month to the highest level since a record in December as exports dipped. The goods-trade gap grew to $72.1 billion in April from $71.9 billion the month earl-ier, according to Commerce Department figures, slightly undershooting economist estimates for an increase in the deficit to $72.7 billion. The figures precede this month’s ...

  Read More »
• 2 June

  BMW’s $1 billion factory caught in Mexican standoff

  

  Bloomberg President Donald Trump’s vow to impose a 5 percent tariff on Mexican goods comes just in time to hit exports from a $1 billion BMW AG factory that opens in the country next week. A swathe of the 3-Series sedans to be made at the plant in San Luis Potosi are destined for US dealers. Higher duties mean a ...

  Read More »
• 2 June

  NXP to buy Marvell Wi-Fi unit for $1.76bn

  

  Bloomberg NXP Semiconductors NV agreed to buy the Wi-Fi connectivity business of Marvell Technology Group Ltd. in a deal valued at $1.76 billion. The all-cash acquisition includes Marvell’s Wi-Fi and Bluetooth technology and related assets, and will allow the automotive industry’s biggest chip supplier to offer customers a broader range of options to connect devices to the internet. The Marvell ...

  Read More »
• 2 June

  Brazil’s economy contracts for first time in three years

  

  Bloomberg Brazil’s activity took its first quarterly plunge since 2016 as investment tumbled further, casting doubt on the recovery of Latin America’s largest economy. Gross domestic product shrank 0.2 percent in the first quarter, compared with a 0.1 percent increase in the three months through December, the national statistics agency said. The result was in line with the median estimate ...

  Read More »
• 2 June

  Trump wades into Brexit row, backs Farage for negotiation

  

  Bloomberg US President Donald Trump has urged Britain to name Nigel Farage, a flamboyant and popular advocate for leaving the European Union, to negotiate a final Brexit agreement, the Sunday Times reported. Trump said the UK should refuse to pay the 39 billion-pound ($49 billion) settlement to cover commitments to the EU and walk away unless it gets “a fair ...

  Read More »
• 2 June

  3 killed in Israeli rocket attack in Syrian suburb

  

  Bloomberg The Israeli rocket attack on eastern suburb of Quneitra has left 3 soldiers dead and 7 others injured, the state-run Syrian Arab News Agency reported. Syrian air defenses earlier intercepted “enemy targets” over a Damascus suburb, Sana reported. The Israeli rockets came from the direction of the Golan Heights, according to Sana. Israeli fighter jets and attack helicopters struck ...

  Read More »
• 2 June

  40 injured in Russian military plant explosion

  Bloomberg A military-explosives factory east of Moscow blew up, injuring more than 40 people and sending a plume of smoke over parts of the city of Dzerzhinsk. Fifteen of the 43 injured were hospitalised, Interfax reported, citing the Health Care Ministry. A fire at the Kristall plant was brought under control after an administrative building was destroyed by the explosions, ...

  Read More »