July, 2018

• 17 July

  UK unveils ‘Tempest’ fighter jet model for post-Brexit era

  

  Bloomberg UK Defence Secretary Gavin Williamson unveiled a full-sized model of a new fighter plane at the Farnborough air show in a bid to show that the nation plans to remain a leading military power after Brexit. Williamson announced $2.6 billion of government funding for a concept aircraft through 2025, when a final decision would be taken on the programme’s ...

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• 17 July

  Trump says US to compete with Russia for Europe gas market

  

  Bloomberg US President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week. “We are going to be selling LNG and will have to be competing with the pipeline and I think we’ll compete successfully, although there is ...

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• 17 July

  Global economy’s future is electric, but still dirty: IEA

  

  Bloomberg More of the world will run on electricity in the future, but most of the power won’t be clean. That’s the key message from the International Energy Agency’s latest report on investment trends released on Tuesday. The Paris-based organisation said that electricity generation attracted more capital than oil and natural gas for the second ye-ar in a row, but ...

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• 17 July

  Mideast’s biggest petchem plant a step closer to financing

  Bloomberg Carbon Holdings hopes to finalise financing for its $10.9 billion petrochemical plant by the end of the year, and expects to begin construction of what would be the Middle East’s largest such facility in the third quarter of 2019. The Tahrir Petrochemical Complex, which will be built in Suez Canal Economic Zone, will be finan-ced by equity and a ...

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• 17 July

  US hits back at allies, China on metal tariffs in WTO move

  

  Bloomberg The Trump administration is hitting back at what it considers unjustified retaliatory tariffs that were imposed in response to US steel and aluminum duties. The US Trade Representative said it launched formal challenges at the World Trade Organization (WTO) against China, the European Union, Canada, Mexico and Turkey for retaliating against steel and aluminum tariffs. The Trump administration earlier ...

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• 17 July

  Amazon founder is richest man in modern history

  

  Bloomberg Jeff Bezos is the richest person in modern history. The Amazon.com Inc. founder’s net worth cracked $150 billion in New York, according to the Bloomberg Billionaires Index. That’s about $55 billion more than Microsoft Corp. co-founder Bill Gates, the world’s second-richest person. Bezos, 54, also has topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly ...

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• 17 July

  US companies still upbeat despite trade war, tax cuts

  

  Bloomberg Donald Trump’s economic policies have been a wash of sorts for US business investment. Ten percent of respondents surveyed by the National Association for Business Economics said they have accelerated spending as a result of the 2017 tax cuts. Meanwhile, 10 percent said they have delayed investment because of new tariffs and other trade policies, NABE’s survey of 98 ...

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• 17 July

  UK employment reaches record high

  

  Bloomberg UK employment rose to a record high in the three months through May after the economy created jobs at a stronger-than-expected pace. The number of people in work rose by 137,000, taking the employment rate to 75.7 percent, the highest since records began in 1971, the Office for National Statistics said on Tuesday. Unemployment held at a 43-year low ...

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• 17 July

  Disney: Fox might not raise its bid for Sky

  Bloomberg For the first time, Walt Disney Co. spelled out for investors that 21st Century Fox Inc. may choose not to increase its takeover offer for British broadcaster Sky Plc. The revelation boosted speculation that Disney and Comcast Corp. may carve up Rupert Murdoch’s media empire rather than fighting to the end for the whole lot. Sky, the UK pay-TV ...

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• 17 July

  Europe’s blistering heatwave is ruining this year’s harvest

  

  Bloomberg Looking out over his parched fields south of Berlin, dairy and grains farmer Thomas Gaebert is wishing for rains to save his crops after relentless hot weather. He is one of many farmers battling for survival after a heatwave and drought swept across northern parts of the continent, damaging crops from wheat to barley. Many German growers could go ...

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