June, 2019

• 15 June

  India to impose retaliatory tariffs on raft of US goods

  

  Bloomberg India is seeking to raise tariffs on a slew of products imported from the US starting next week, just days ahead of a visit by US Secretary of State Michael Pompeo aimed at deepening defense and energy ties between the two nations. The decision to impose tariffs on as many as 29 products will be announced, said senior officials ...

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• 15 June

  Fiat-Renault deal revival hinges on Nissan backing, French role

  

  Bloomberg As Fiat Chrysler Automobiles NV and Renault SA move on from their failed merger talks, a revival of discussions would depend on overcoming at least two major obstacles. Fiat blamed “political conditions in France’’ when it withdrew its proposal, and a signal from the French state that it would give up its sway over Renault would be necessary for ...

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• 15 June

  Ex-chemistry teacher becomes richest self-made woman in Asia

  

  Bloomberg Two days ago, Zhong Huijuan wasn’t even the richest person in her family. Now, she’s become the wealthiest self-made woman in Asia with a $10.5 billion fortune, according to the Bloomberg Billionaires Index. The bulk of her wealth comes from her stake in Hansoh Pharmaceutical Group, China’s largest maker of psychotropic drugs, which soared 37% last week in Hong ...

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• 15 June

  Thailand, Indonesia risk losing US trade benefit, says Maybank

  

  Bloomberg Thailand and Indonesia are at risk of losing a special trade status that gives developing economies preferential access to the US market, according to Maybank Kim Eng Research. Thailand is the second-biggest beneficiary of the decades-old program, known as the Generalised System of Preferences (GSP), while Indonesia is the fourth-largest, Maybank analysts led by Chief Economist Suhaimi Ilias said ...

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• 15 June

  Trade tensions hurting global oil demand: Opec

  

  Bloomberg The Organization of Petroleum Exporting Countries (Opec) said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead. The organization, due to meet in the coming weeks to set production levels for the second half, said demand increased by less than 1 million barrels a day ...

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• 15 June

  US, Canada, Brazil oil output doubles in 10 yrs

  

  Bloomberg From 2008 to 2018 the amount of oil produced by the US, Canada and Brazil almost doubled. These three countries now produce roughly one quarter of the world’s oil, according to BP’s annual Statistical Review of World Energy 2019. The US alone in this time has more than doubled its oil output and effectively grabbed an additional 8 percentage ...

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• 15 June

  Europe climate push likely to stop short of net-zero pledge

  

  Bloomberg European Union leaders plan to underscore the importance of the fight against climate change when they meet next week, though their words will stop short of a mandate to move towards zeroing out fossil fuel emissions. Heads of government will pledge “building a more climate-friendly, neutral, green, fair and inclusive future” at the summit in Brussels on June 21 ...

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• 15 June

  US budget gap soars to $739bn despite tariff revenue boost

  

  Bloomberg The US budget deficit widened to $738.6 billion in the first eight months of the fiscal year, a $206 billion increase from a year earlier, despite a revenue boost from President Donald Trump’s tariffs on imported merchandise. The shortfall was 38.8 percent more than the same period a year ago, the Treasury Department said in its monthly budget review. ...

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• 15 June

  US drugmakers sue Trump administration to halt ad rule

  Bloomberg Some of the US’s biggest pharmaceutical companies sued the Trump administration to try and block a rule that would force them to put the price of their drugs in television advertisements. In the lawsuit filed in federal court, Merck & Co, Eli Lilly & Co, Amgen Inc and an advertising trade association claim that the Department of Health and ...

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• 15 June

  Majority of Canada’s exporters see global recession: Survey

  

  Bloomberg Canadian exporters are reporting widespread concerns about a global recession, with sentiment in the sector falling to the lowest level in seven years, according to a survey by the country’s export financing agency. Export Development Canada’s trade confidence index, a composite gauge based on a bi-annual survey of 1,000 businesses, dropped to 69.8, compared with 73.7 at the end ...

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