July, 2018

• 2 July

  US stocks pare losses as investors gauge trade risks

  

  Bloomberg US stocks were lower but regained some of their early losses, as investors assessed fears of increasing trade tensions around the world. The dollar climbed, roiling emerging markets, while oil retreated from its highest level since 2014 following President Donald Trump’s call for Saudi Arabia to increase production. The S&P 500 Index was down roughly 0.3 percent after falling ...

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• 2 July

  Bitcoin rebounds from 2018 low to buoy Ether, Litecoin

  

  Bloomberg Bitcoin jumped on Monday, giving a positive jolt to a digital-coin market that had lost about half of its value since early May. The largest cryptocurrency climbed 7.3 percent to $6,328 from June 28, heading to its biggest one-day increase since April, according to composite prices compiled by Bloomberg in New York. The token’s largest peers — Ripple, Ethereum ...

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• 2 July

  Dell set to go public again with VMware tracking stock buyout

  

  Bloomberg Dell Technologies Inc, the world’s largest private technology company, announced plans to trade publicly again, entering a new stage of a multi-year turnaround plan. The tech giant will return to public markets by subsuming its tracking stock, DVMT, in a cash and share-swap deal, Round Rock, Texas-based Dell said in a filing on Monday. The shares, currently worth about ...

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• 2 July

  UK’s manufacturing growth steadies in June

  

  Bloomberg UK manufacturing growth held steady in June, providing some modestly good news at the end of the worst quarter for the sector since the end of 2016. IHS Markit’s Purchasing Managers Index for the industry stood at 54.4 in June, up from a revised 54.3 in May and beating economists’ estimates for a drop. The average reading for the ...

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• 2 July

  Britain’s trickiest economic challenge is back in spotlight

  

  Bloomberg Eclipsed by Brexit headlines, the most puzzling economic problem facing Britain is back in the limelight. Abysmal productivity growth has plagued the UK for a decade, sapping its underlying strength and undermining wage growth. Countless explanations and solutions have been proffered, and now the debate is raging again after a proposal that fixing it be made one of the ...

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• 2 July

  Canadian auto parts maker urges US to abandon tariff plan

  Bloomberg Canadian auto parts maker Magna International Inc. has joined a chorus of automotive companies urging the US not to impose tariffs on their products. The proposed tariffs would negatively affect both the US and Canada, cut jobs, and raise prices for consumers, Magna, among the the largest automotive suppliers in the US, said in a letter to US Commerce ...

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• 2 July

  Tesla finally hits Model 3 production target

  

  Bloomberg Tesla Inc. reached a milestone critical to Elon Musk’s goal to bring electric cars to the masses — and earn some profit in the process — by finally exceeding a long-sought production target with the Model 3. By building more than 5,000 of the sedans in the last week of the second quarter, Tesla “just became a real car ...

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• 2 July

  On-call work schedules make it hard to have a life

  

  In recent months, a number of big, bold proposals have been advanced to relieve economic pressure on the poor, including a federal job guarantee, a universal basic income and single-payer health care. But a lot of more modest but still important ideas are being overlooked. One of these is the idea of stable work scheduling. Over the years, many employers, ...

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• 2 July

  Want real stress? Try bad loans in India

  

  Imagine India’s GDP growth had collapsed to 3%; inflation was about to hit double digits; exports were tanking; and the country’s twin deficits—in the government’s budget, and in the nation’s current account—were out of control. It’s only when the Reserve Bank of India (RBI) tries to imagine such a dire scenario for March 2019 that its simulation exercise for bad ...

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• 2 July

  Thailand leads in crypto by skipping big debate

  Securities, or not securities. That is the crypto question. Except in Thailand. While regulators around the world have grappled with the issue of what category digital currencies and assets fall into, Thailand has skipped the debate altogether. Instead, using an emergency decree that came into effect earlier this year, authorities wrote an entirely new law. The result is the Digital ...

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