July, 2018

• 24 July

  Earnings-driven technology rally sends US stocks higher

  

  Bloomberg US equities climbed along with European stocks as positive earnings reports boosted investor sentiment, and China’s efforts to support its economy spurred interest in higher-risk assets across Asia. The S&P 500 Index opened higher on Tuesday, as the likes of Boeing and Verizon climbed on strong results. Google parent Alphabet anchored a big leap in tech stocks after beating ...

  Read More »
• 24 July

  Pound jumps as May takes control of Brexit talks

  

  Bloomberg The pound rose to a one-week high against the dollar after UK Prime Minister Theresa May said she will take control of Brexit talks, as investors bet on a softer exit from the EU. Sterling climbed as much as 0.4 percent to $1.3159, the highest level since July 17, after May said she will lead Brexit negotiations, relegating the ...

  Read More »
• 24 July

  Big oil firms are raking in cash

  

  Bloomberg The dark storm clouds that have been hanging over the oil industry during the crude-price slump have suddenly started raining cash. After cutting billions of dollars of costs to survive the biggest downturn in decades, Big Oil is now riding a price rebound to generate enough cash to pay dividends and still have plenty left over. The big question ...

  Read More »
• 24 July

  Shell in talks to sell $2 billion Nigeria oil assets

  

  Bloomberg Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan. The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to Heirs Holdings Ltd, a company run by Nigerian tycoon ...

  Read More »
• 24 July

  Ares is seeking $1bn for energy fund after stumble

  Bloomberg Ares Management LLC is preparing to raise an energy and infrastructure investment fund with a $1 billion tar-get, according to people with knowledge of the matter. The investment firm co-founded by Chief Executive Officer Michael Arougheti has held preliminary talks with investors about raising Ares Energy Investors Fund VI, said the people, who asked not to be identified because ...

  Read More »
• 24 July

  Euro-area growth slows as trade fears mount

  

  Bloomberg Protectionism is starting to weigh on the euro area’s economy. Growth in the region softened in July on weaker new orders and deteriorating confidence, according to a survey published on Tuesday. More worryingly, companies reported rising prices for raw materials, delivery delays and shortages, suggesting that tariffs — or the threat thereof — are already starting to disrupt global ...

  Read More »
• 24 July

  FDI boosts productivity of UK firms

  

  Bloomberg British firms that get foreign direct investment (FDI) are more productive, especially small and medium-sized businesses. Experimental data from the Office for National Statistics showed that small firms that received money from overseas were 147.2 percent more productive on average than their counterparts. Medium firms saw a 197.4 percent boost, the report said. While just 1.1 percent of British ...

  Read More »
• 24 July

  Sonos plans to raise $264mn in IPO

  

  Bloomberg Sonos Inc., the wireless speaker pioneer taking on Amazon.com Inc., Google and Apple Inc., plans to raise as much as $264.1 million in its upcoming initial public offering. While the wireless speakers market is booming — Sonos says its customers listen to about 70 hours of content a month — competition has increased since the company introduced its first ...

  Read More »
• 24 July

  Google parent Alphabet sees record highs despite EU fine

  

  Bloomberg Google is still raking in marketing dollars from advertisers, propelling the online search giant to another strong quarter in the face of costly regulatory trouble in Europe. The shares jumped as much as 6.1 percent in extended trading, putting them on course for a record. Parent company Alphabet Inc. reported second-quarter sales, minus partner payouts, of $26.24 billion during ...

  Read More »
• 24 July

  Italy’s Illycaffe attracts interest from JAB, Nestle

  

  Bloomberg Italian coffee maker Illycaffe SpA has attracted interest from suitors including JAB Holding Co. and Nestle SA, but the family owners have so far rebuffed approaches, according to people familiar with the matter. JAB, which has built a coffee empire through a series of acquisitions, is interested in acquiring all of the Trieste-based coffee roaster, according to the people, ...

  Read More »