July, 2018

• 25 July

  Imran Khan’s party takes early lead in Pakistan polls

  

  Bloomberg Pakistanis voted on Wednesday in a closely fought election that will determine the course of the nuclear-armed nation central to US anti-terrorism efforts and China’s global infrastructure ambitions. Earlier surveys showed none of the top three parties winning a majority. However, Pakistan Tehreek-i-Insaf (PTI), led by former cricket star Imran Khan, is leading on most parliament seats out of ...

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• 25 July

  US stocks mixed on earnings, trade; greenback declines

  

  Bloomberg US equities were mixed in early trading as investors digested the latest raft of earnings, and before key trade talks between America and the European Union. The dollar declined against most of its major peers. The S&P 500 Index was little changed on Wednesday, while the Dow Jones Industrial Average declined amid lower-than-average volume. Coca-Cola’s results beat forecasts, while ...

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• 25 July

  Crypto mania ‘deja vu’ risks jeopardising Bitcoin ETF approval

  

  Bloomberg Cryptocurrency enthusiasts may turn out to be their own worst enemy when it comes to an exchange-traded fund backed by Bitcoin. The largest virtual currency has soared about 40 percent to more than $8,000 since the start of July as speculation mounts that a Bitcoin ETF could be approved by the US Securities and Exchange Commission within weeks. It’s ...

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• 25 July

  Russian oil is getting ready for biggest tax overhaul in 20 years

  

  Bloomberg Russia, one of the world’s top three crude producers, is preparing the most radical shakeup of its oil-tax system since 1999. The changes, which will allow the nation’s producers to export crude and oil products duty-free while raising their costs at the wellhead, is set to get the go-ahead from President Vladimir Putin by year-end, bringing in much-needed funds ...

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• 25 July

  Snow flurries in July signal more work for Europe’s LNG ports

  

  Bloomberg On a hot sunny day in July, Europe’s largest port is busy loading super-chilled liquefied natural gas onto a tanker, creating snow flurries during a heat wave. The cargo loaded at the Gate terminal in Rotterdam, which was built to import the fuel. Around the same time, a vessel from the Russian Arctic region arrived with another batch of ...

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• 25 July

  California utility giants rise amid fire bill proposal

  

  Bloomberg Shares of California utility owners PG&E Corp, Edison International and Sempra Energy climbed after Governor Jerry Brown indicated that utilities shouldn’t be responsible for future wildfire damages without considering whether they acted “reasonably.” The proposal wouldn’t affect the billions of dollars in potential liabilities PG&E and Edison face for blazes in 2017, Brown said. But it’s a win for ...

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• 25 July

  Energy-storage firm Stem gets funding for projects in Canada

  Bloomberg Stem Inc, a US provider of energy-storage systems, arra-nged $152 million in commitments from the Ontario Teachers’ Pension Plan to finance projects in the province. The pension plan also contributed to Stem’s $80 million Series D financing announced in January. Stem said in a statement that it has raised an additional $26 million for the round from investors including ...

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• 25 July

  India housing downturn puts $20 billion bank loans at risk

  

  Bloomberg Indian lenders struggling to recoup loans worth about $20 billion to troubled property developers have to contend with another challenge: A lackluster recovery from the worst home-sales slump this decade. To recover the dues, banks are taking control of land parcels and unfinished projects that can be sold along with loans. This comes at a time when home sales ...

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• 25 July

  Switzerland’s UBS flags $100mn in Brexit costs

  

  Bloomberg UBS Group AG, the Swiss bank that’s said to be leaning towards Frankfurt for its post-Brexit European Union headquarters, says it’s facing a bill of more than $100.5 million because of Britain’s departure from the bloc. The Brexit tab, revealed by Chief Executive Officer Sergio Ermotti on a conference call on Tuesday, will likely include the cost of relocating ...

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• 25 July

  Credit Agricole plans to buy 10% stake in Italian lender

  Bloomberg Credit Agricole SA is considering the purchase of as much as 10 percent of Italian lender Credito Valtellinese SpA within six months, as it seeks to increase investments in the euro region’s third-largest economy, according reports. The French bank may buy a 5 percent stake and then plans to double its holding. Among its strategic options, Credit Agricole is ...

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