July, 2018

• 16 July

  China hears rumbles of company discontent in rare open session

  

  Bloomberg The ink had barely dried on the first joint statement between China and the European Union in three years before the complaints began. Following a rare decision to allow reporters inside a session with business leaders in Beijing on Monday, Chinese Premier Li Keqiang heard unfiltered comments from senior EU officials about the everyday reality for Europeans of conducting ...

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• 16 July

  Subaru decides popular Outback needs a much bigger brother

  

  Bloomberg How far has Subaru come during its 60 years of selling cars? Roughly seven feet. That’s the difference lengthwise between its first vehicle, the diminutive “360” later dubbed “the ladybug,” and a pumped up new SUV called the Ascent. Make no mistake. The Ascent is a Texas-sized rig, thoroughly incongruous with its creator’s climate conscious, blue-state reputation. It’s a ...

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• 16 July

  Stocks drift amid earnings; bonds and dollar decline

  

  Bloomberg US equities drifted between gains and losses and European stocks were mixed as traders looked towards company results after lackluster economic data out of China spurred declines for many Asian shares. The dollar weakened against most peers. Earnings were better-than-expected from the likes of Bank of America Corp. and BlackRock Inc. while there was an upbeat early release from ...

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• 16 July

  Pound gains as traders await Brexit progress

  

  Bloomberg The pound picked up on Monday against a weaker dollar, with further gains seen dependent on the progress of the UK’s Brexit plans and whether data will cement the odds of a Bank of England interest-rate increase. Sterling’s moves could be influenced by any response from UK lawmakers or the European Union to the British prime minister’s “white paper” ...

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• 16 July

  Russia: OPEC, allies could boost oil supply more than pledged

  

  Bloomberg OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” ...

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• 16 July

  Uganda sees $70mn initial spending on oil storage facility

  

  Bloomberg Uganda, which plans to produce and refine its own oil, said it will require as much as $70 million to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000 cubic meters that it may upgrade to 138,000 cubic meters if there’s demand, ...

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• 16 July

  Iraq says oil safe as social media cut amid protests

  Bloomberg Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman. “Production and exports from southern Iraq are stable as per normal levels,” Oil Ministry spokesman Asim Jihad said by phone. Authorities have deployed security forces to protect energy fields ...

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• 16 July

  Boralex, Invenergy hit by Ontario’s move to kill clean-power projects

  

  Bloomberg Renewable-power contracts fr-om Boralex Inc and Invenergy LLC are among those targeted for cancellation by Ontario Premier Doug Ford, who’s working to terminate or wind down more than 750 contracts in a revamp of the province’s energy policies. The list of contracts in Ford’s crosshairs includes one with the 50-megawatt Otter Creek Wind Farm in western Ontario, which is ...

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• 16 July

  Trump trade wars can lead to ‘hot conflicts’, warns Tusk

  

  Bloomberg European Union (EU) President Donald Tusk called on Donald Trump to reform the world order rather than bring it down, warning that trade wars can lead to “hot conflicts.” Tusk issued his appeal in opening remarks to an annual EU-China summit on Monday, as he made an explicit link between the European delegation visiting Beijing and the US president’s ...

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• 16 July

  UK house prices fall for first time in seven months

  

  Bloomberg UK house prices fell for the first time in seven months as sellers adapted to the reality of the weaker market. Asking prices slipped 0.1 percent in July from a month earlier, property website Rightmove said on Monday. In London, prices slipped 0.5 percent, with smaller apartments falling faster than bigger homes. The reduction in asking prices can “be ...

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