July, 2018

• 10 July

  Tesla plans China plant with 500,000 vehicle capacity

  

  Bloomberg Tesla Inc. has reached a preliminary agreement with the Shanghai government to build a factory that’ll rival production from its lone US assembly plant, as Elon Musk takes his biggest step yet to expand overseas. The electric-car maker’s planned capacity for the factory is 500,000 vehicles a year, the Shanghai government said in statement. Bloomberg reported earlier that Musk, ...

  Read More »
• 10 July

  Ping An Insurance considers rival takeover offer for China Biologic

  

  Bloomberg Ping An Insurance (Group) Co., China’s largest insurer by market value, is considering a rival offer for plasma treatment provider China Biologic Products Holdings Inc., people familiar with the matter said. An arm of Ping An is in talks with other investors about a potential joint bid for Beijing-based China Biologic, according to the people, who asked not to ...

  Read More »
• 10 July

  Vodafone gets India’s approval for Idea deal

  

  Bloomberg Vodafone Group Plc said it received approval from the Indian government to combine with Idea Cellular Ltd., a deal first announced 16 months ago. India’s Department of Telecommunication has approved the merger provided arrears amounting to as much as $1.1 billion are paid to the government, according to the department’s order seen by Bloomberg. The outstanding amount is for ...

  Read More »
• 10 July

  S&P 500 on longest rally in month; Treasuries drop

  

  Bloomberg Stocks rose and Treasuries fell as a lull in the trade war gave investors room to focus on the start of the earnings season. The S&P 500 Index gained for a fourth day, the longest streak since the beginning of June. PepsiCo Inc. jumped more than 3 percent after reporting better-than-forecast profit, bolstering optimism that Corporate America enjoyed a ...

  Read More »
• 10 July

  Double-digit profit growth seen again for India equities

  

  Bloomberg At a time when emerging markets have been roughed up by trade tensions between the world’s biggest economies, the earnings picture in India is improving. That’s the message from Morgan Stanley as it expects companies in the S&P BSE Sensex to report a 23 percent increase in net income in the June quarter from a year earlier, with more ...

  Read More »
• 10 July

  Natural gas drillers are fighting for their lives

  

  Bloomberg The natural gas industry is on a mission to prove it can keep up with the green energy industry, whose price reductions are starting to become a competitive threat to fossil fuels. Gas and oil producers have slashed overheads by a third since 2014 and are finding deeper reductions harder to come by, according to energy consultants Wood Mackenzie. ...

  Read More »
• 10 July

  Canada crude supply to stay tight as Syncrude remains down for weeks

  

  Bloomberg Canadian crude supplies may remain tight in the coming weeks as Suncor Energy Inc works to bring its massive Syncrude oil-sands operation back online, a process that the company said won’t be completed until September. Pipeline shipments from the facility, which went down last month after a transformer trip cut power to the plant, will be about 60 percent ...

  Read More »
• 10 July

  Libya oil output to drop as ports halted

  

  Bloomberg Libya’s oil output will keep dropping day by day if major ports remain closed after clashes last month led to a political deadlock, the head of the country’s state energy producer said. “Today, production is 527,000 barrels a day, tomorrow it will be lower, and after tomorrow it will be even lower and everyday it will keep falling,” Mustafa ...

  Read More »
• 10 July

  US oil sellers may look to India amid trade spat

  Bloomberg American oil producers may find a new friend in India as they brace for a trade war with China that could curb US shipments. Refiners in China were the top buyers of American crude oil in May, and have been regular importers since the US revived domestic output and exports in recent years. But sales may slow amid a ...

  Read More »
• 10 July

  Russia plans $80bn borrowing spree despite sanctions scare

  

  Bloomberg Russia’s Finance Ministry laid out its most ambitious borrowing programme yet with a plan to raise almost 5 trillion rubles ($80 billion) domestically over the next three years, even as warnings sound over the global buildup of debt and foreign investors turn cautious after US sanctions. Under the terms of a draft plan for 2019-2021, the government will borrow ...

  Read More »