June, 2019

• 8 June

  Shell promises increase in returns to investors

  

  Bloomberg Royal Dutch Shell Plc plans to shower its investors in money, pledging returns of $125 billion between 2021 and 2025 — twice as much as a decade earlier. The oil and gas major says it can pull off this feat with crude at $60 a barrel and only a small increase in capital spending, an aggressive move to keep ...

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• 8 June

  China Three Gorges eyes EDP Brazil assets

  

  Bloomberg China Three Gorges Corp. is weighing a deal to gain cont-rol of EDP-Energias de Portugal SA’s Brazilian business, people with knowledge of the matter said. State-owned Three Gorges is considering merging its own Brazilian assets with EDP’s operations in the South American country, which are run through publicly-traded EDP-Energias do Brasil SA, according to the people. Three Gorges may ...

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• 8 June

  JinkoSolar sees more foreign sales amid slumping market in China

  

  Bloomberg JinkoSolar Holding Co., the world’s biggest solar panel maker, sees China’s photovoltaic power additions slumping this year and a greater share of its revenue coming from overseas amid uncertainties over Beijing’s new policies. China may add 30 to 40 gigawatts of solar power in 2019, down from 44 gigawatts the previous year, Vice President Qian Jing said in an ...

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• 8 June

  Phone carriers see $62b hit if Chinese banned from 5G

  

  Bloomberg Excluding China’s Huawei Technologies Co and ZTE Corp from the next generation of mobile networks would lumber European phone companies with 55 billion euros ($62 billion) in extra costs, the wireless industry’s main lobby group said. A global ban advocated by US President Donald Trump would also delay the rollout of the high-speed 5G networks by at least 18 ...

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• 8 June

  China’s Wanda Sports files for IPO in US

  

  Bloomberg Wanda Sports Group Co, a unit under Chinese billionaire Wang Jianlin’s conglomerate Dalian Wanda Group Co, filed to go public in the US with a goal of raising funds to pay down debt. The Beijing-based company, which has had partnerships with FIFA and the Chinese Basketball Association, owns sports properties and generates revenue from events, sponsorship and media pacts. ...

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• 8 June

  Singapore’s property developer offers to buy Millenium Hotels at $2.8 billion

  

  Bloomberg Singapore’s second-largest property developer is offering to buy out shareholders of Millenium & Copthorne Hotels Plc in a deal that would value the company at $2.84 billion. City Developments Ltd said in a statement that it has made a final offer for the London-traded hotel chain at 685 pence per share, representing a 37 percent premium to this week’s ...

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• 8 June

  Tencent Music to weigh its selling after slump

  

  Bloomberg Now comes crunch time for Tencent Music Entertainment Group insiders and early backers who have to decide on Monday whether or not to cash out of the Chinese music entertainment service when its 180-day lockup expires. The decision is made more torturous by a 34 percent decline in the stock since a peak in mid-March. For some insiders and ...

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• 8 June

  Late monsoon arrival delays crop sowing in India

  

  Bloomberg The southwest monsoon, which waters more than half of India’s farmland, arrived in the country’s southern coast more than a week later than normal. Monsoon showers reached Kerala on Saturday, said Mrutyunjay Mohapatra, additional director general of Meteorology at India’s Meteorological Department. The department in May had predicted a June first week onset for the June-September rainy period. The ...

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• 8 June

  Trump’s trade attack pushes India to negotiating table

  

  Bloomberg India plans to return to the negotiating table after President Donald Trump terminated a trade concession, which allowed the country to export almost 2,000 products to the US duty-free, people with knowledge of the matter said. While an option is to raise tariffs on a slew of US goods as retaliation, India may not choose that considering the benefits ...

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• 8 June

  Trump calls off Mexico tariff plan as deal reached on migrants

  

  Bloomberg President Donald Trump said he would drop plans for tariffs on Mexico that he’d been threatening to impose for the past week after the country promised new steps to stem an influx of illegal migration into the US. “I am pleased to inform you that The United States of America has reached a signed agreement with Mexico,” Trump said ...

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