July, 2018

• 3 July

  Allianz plans new share buyback of $1.16 billion

  

  Bloomberg Allianz SE plans to buy back as much as 1 billion euros ($1.16 billion) of its shares amid an abundance of capital and returns crimped by low interest rates. Europe’s biggest insurer will buy back as much as 41.5 million shares July 4 to Sept. 30 and cancel all repurchased shares, the company said in a statement. The buyback ...

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• 3 July

  Facebook, Apple disagree on how to curb fake news for midterms

  

  Bloomberg Apple and Facebook have figured out how to keep us glued to their devices and platforms. But they haven’t figured out how to curb the misinformation that plagued them during the 2016 election and have struggled to regain public trust. And now, in the run-up to the 2018 midterms, they certainly don’t agree on a solution. Last week, Apple ...

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• 3 July

  Malaysia ex-PM Najib faces legal battle after arrest in 1MDB probe

  

  Bloomberg Less than two months after losing power in a shocking election defeat, former Malaysian leader Najib Razak is now facing a legal battle against charges that could see him facing jail. Authorities arrested Najib in connection with an investigation into the disappearance of billions of dollars from state fund 1MDB, according to the task force investigating the case. He ...

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• 3 July

  Polish judges face off against govt as court protests loom

  

  Bloomberg Tensions over Poland’s judicial revamp grew a day after a warning shot from the EU. Supreme Court head Malgorzata Gersdorf said that she won’t be forced to retire under the overhaul, which would replace two-fifths of judges unless they get special permission from President Andrzej Duda. Gersdorf was expected to meet Duda at 4 pm in the capital, with ...

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• 3 July

  Merkel averts German coalition crisis with migration deal

  

  Bloomberg German Chancellor Angela Merkel halted the immediate threat of a government breakup in Europe’s biggest economy, crafting a plan to tighten migration and keep her Bavarian sister party in the fold. The euro and stocks rose after Merkel and Interior Minister Horst Seehofer, her antagonist who had threatened to resign, ended their two-week standoff. The compromise — which Merkel ...

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• 3 July

  May in talks with feuding cabinet on Brexit

  

  Bloomberg Theresa May is holding one-to-one talks with cabinet ministers in an attempt to win their support for her Brexit plan after surprising them with a new proposal for a customs deal with the EU, people familiar with the matter said. May’s efforts to unite her top team come ahead of a crucial meeting of her cabinet at her country ...

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• 3 July

  ‘Presidential candidate’ seeks third way in Brazil

  Bloomberg With Brazil’s politics in meltdown, a softly-spoken, mixed-race woman from a remote Amazonian province believes she can lead Latin America’s largest economy after two failed presidential bids. Marina Silva, a former environment minister born into a poor rubber-tapping family, argues that after years of high unemployment, grinding recession and corruption scandals, Brazilians are hungry for change in the country’s ...

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• 3 July

  Neo-isolationism won’t work in era of globalism

  

  On this July Fourth, America has taken a turn for the worst. The great delusion of Donald Trump’s presidency is that we can thrive by embracing nationalism even though major economic and political events are increasingly driven by international forces. Trump is an isolationist in an era of globalism. It won’t work. Keep this in mind on the Fourth. Let ...

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• 3 July

  Australia’s economic run is flagging

  

  The golden age of Australian economic growth may have passed. Continuing a run of over 25 years, the expansion most likely clocked another quarter of gains in gross domestic product in the three months to June 30. But that run looks tired, and the weight of many challenges has accumulated. The most significant are two related shifts. The first is ...

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• 3 July

  For Tesla, the best of times, the burst of times

  “Burst week” has quickly established itself as a highlight of the Tesla calendar. It’s like Thanksgiving, except it happens once every three months and everyone works twice as hard. Tesla Inc. on Monday morning announced the number everyone’s been waiting for: In the last seven days of June, the electric vehicle maker churned out 5,031 Model 3s, finally delivering on ...

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