July, 2018

• 29 July

  Bloom Energy climbs in trading debut after $270 million IPO

  

  Bloomberg Bloom Energy Corp, the Kleiner Perkins Caufield & Byers-backed maker of fuel-cell power systems, climbed on its first day of trading after pricing a rare alternative-energy IPO. The shares rose 47 percent to $22.10 in New York, giving the company a market value of about $2.34 billion. Bloom Energy sold 18 million shares for $15 apiece after marketing the ...

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• 29 July

  China solar sector told to cut costs, boost quality

  Bloomberg China’s solar power sector should strive to cut costs and improve quality, said a top industry group seeking to restore confidence in the world’s largest market as recent policy moves in Beijing straddle producers with shrinking demand and tumbling prices. The industry is moving away from rapid capacity expansions and suppliers should not expect sector to grow every year, ...

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• 29 July

  China regrets Qualcomm move to scrap $44 billion NXP deal

  

  Bloomberg China’s expressed regret over Qualcomm Inc.’s decision to scrap a $44 billion takeover of NXP Semiconductors NV, an apparent attempt to avoid blame after regulators failed to rule on what would have been the largest chip acquisition in history. The takeover fell apart as tensions between China and the US escalated and local regulators held off on clearing the ...

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• 29 July

  SoftBank-owned ARM agrees to buy US’s Treasure Data

  

  Bloomberg ARM Holdings Plc, the British computer-chip designer owned by SoftBank Group Corp., has agreed to buy US-based data analytics firm Treasure Data Inc., people familiar with the matter said. Treasure Data may fetch about $600 million in the sale, the people said, asking not to be identified because the deal isn’t yet public. A spokesman for ARM declined to ...

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• 29 July

  Starbucks says delivery to help it lead in China

  

  Bloomberg Starbucks Corp., facing a rare sales decline in China, is betting a rapid roll out of delivery service will get the business back on track. With the company expecting China to eventually surpass the US as its biggest market, Starbucks says deliveries will help it will fend off competitors who are already offering the service, coupled with deep discounts. ...

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• 29 July

  Samsung Securities CEO resigns after $105bn stock blunder

  

  Bloomberg The chief executive of Samsung Securities Co. resigned after the company was punished by South Korea’s financial regulator because an employee’s error sparked a $105 billion “ghost stock” blunder. Koo Sung-hoon’s resignation was disclosed in a regulatory filing on July 27, a day after the Financial Services Commission ordered the firm to suspend Koo for three months. The firm ...

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• 29 July

  Jokowi pushes tourism for dollars as funds flee Indonesia

  

  Bloomberg As foreign funds continue to dump Indonesian stocks and bonds, President Joko Widodo is chasing dollars from tourism and exports to help contain a widening current-account deficit. Widodo, known as Jokowi, ordered ministers, officials and central bankers to step up efforts to lure more foreign visitors into the pristine sand beaches dotting hundreds of islands across the archipelago. He ...

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• 29 July

  Trump, son at risk if found lying about Russia meeting

  

  Bloomberg President Donald Trump faces potential legal and political danger if it’s proven he knew in advance about a meeting his son and campaign aides had with Russians said to be promising dirt on Hillary Clinton, according to former federal prosecutors. The allegation reportedly made by Trump’s former personal attorney Michael Cohen adds an explosive twist to the famous June ...

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• 29 July

  Orban rallies EU ‘illiberal’ forces for elections

  

  Bloomberg Hungarian PM Viktor Orban, emboldened by the surge of right-wing parties across Europe, called for a united front by “illiberal” forces to win control in next year’s European Parliament elections. Having solidified his rule at home in the past eight years and reelected in April, Orban set his sights on wider dominance for his version of “Christian democracy”, that ...

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• 29 July

  Australian PM dealt blow as oppn sweeps elections

  Bloomberg Prime Minister Malcolm Turnbull was dealt a blow by Australian voters in by-elections held that boosted the main opposition Labor Party. Labor was returned in four of the five electorates up for grabs even after polls showed that Turnbull’s Liberal-National coalition had a chance to win two. A minor party retained the one seat it already held. The bulk ...

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