July, 2018

• 17 July

  Tech shares pare losses; dollar higher on Powell

  

  Bloomberg US technology shares pared losses as investors downplayed the impact of Netflix’s disappointing subscriber growth for the rest of the FAANG stocks. The dollar strengthened as Federal Reserve Chairman Jerome Powell made the case for further tightening. The Nasdaq 100 climbed from its lows as Facebook turned positive and Broadcom and Nvidia rallied. The S&P 500 was little changed, ...

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• 17 July

  China shares in Hong Kong slide to lowest since 2017

  

  Bloomberg Losses in Chinese equities accelerated Tuesday, with a gauge of stocks in Hong Kong closing at its lowest level since last August. The Hang Seng China Enterprises Index fell 1.1 percent, its biggest loss since July 11. The Shanghai Composite Index dropped 0.6 percent for its third straight decline. Oil producers weighed heavily on both gauges after crude slumped ...

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• 17 July

  Boeing sees budget-airline surge driving $15trn market

  

  Bloomberg Boeing Co. sees a $15 trillion market for airplanes and supporting services over the next two decades, driven largely by budget carriers and the narrow-body jets they favor to haul travellers. The bullish annual forecast by the Chicago-based planemaker comes amid nine years of unprecedented growth for aerospace. Air travel is booming as global trade and economic growth in ...

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• 17 July

  Boeing, Embraer split $2.3bn United jet order

  

  Bloomberg Boeing Co. and Embraer SA won orders valued at $2.3 billion from United Airlines in a boost to an alliance the two planemakers announced earlier this month. United Continental Holdings Inc. will buy 25 Embraer E-175 planes and four Boeing 787-9 Dreamliners, it said in a statement. At list prices, the Embraer jets are worth about $1.2 billion in ...

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• 17 July

  Amazon suffers tech crash, strikes on Prime Day

  

  Bloomberg Amazon.com kicked off its big Prime Day sales promotion with technical glitches on its website and app, threatening its 36-hour sales extravaganza. Trouble on the site spiked just as the event began at 3 pm Eastern time, but declined significantly within a couple of hours, according to Downdetector.com, which monitors web trouble. Shoppers were expected to spend $3.4 billion ...

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• 17 July

  ‘Prime’ price hike not dented membership

  Bloomberg Amazon.com Inc.’s increase earlier this year to the price of Prime membership hasn’t blunted momentum for the popular subscription program that boasts more than 100 million global members, a company executive said. “We continue to see the same trends” since the price hike — to $119 a year from $99 — was announced in April, Amazon Prime VP Cem ...

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• 17 July

  UK unveils ‘Tempest’ fighter jet model for post-Brexit era

  

  Bloomberg UK Defence Secretary Gavin Williamson unveiled a full-sized model of a new fighter plane at the Farnborough air show in a bid to show that the nation plans to remain a leading military power after Brexit. Williamson announced $2.6 billion of government funding for a concept aircraft through 2025, when a final decision would be taken on the programme’s ...

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• 17 July

  Trump says US to compete with Russia for Europe gas market

  

  Bloomberg US President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week. “We are going to be selling LNG and will have to be competing with the pipeline and I think we’ll compete successfully, although there is ...

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• 17 July

  Global economy’s future is electric, but still dirty: IEA

  

  Bloomberg More of the world will run on electricity in the future, but most of the power won’t be clean. That’s the key message from the International Energy Agency’s latest report on investment trends released on Tuesday. The Paris-based organisation said that electricity generation attracted more capital than oil and natural gas for the second ye-ar in a row, but ...

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• 17 July

  Mideast’s biggest petchem plant a step closer to financing

  Bloomberg Carbon Holdings hopes to finalise financing for its $10.9 billion petrochemical plant by the end of the year, and expects to begin construction of what would be the Middle East’s largest such facility in the third quarter of 2019. The Tahrir Petrochemical Complex, which will be built in Suez Canal Economic Zone, will be finan-ced by equity and a ...

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