June, 2018

• 19 June

  Tesla probing ‘extensive’ sabotage by disgruntled employee, says Musk

  

  Bloomberg A disgruntled Tesla Inc. employee broke into the company’s manufacturing operating system and sent highly sensitive data to unknown third parties, according to an email Elon Musk sent to staff. The worker, who had been denied a promotion, did “quite extensive and damaging sabotage” to Tesla’s operations, Musk wrote in the memo, which was reported in full by CNBC. ...

  Read More »
• 19 June

  ‘No deal’ Brexit warning on EU table as Barnier talks risk

  

  Bloomberg The European Union’s 27 remaining leaders may warn the UK that it faces crashing out of the bloc without a deal and call for contingency preparations, as an update due from the Brexit negotiators is set to highlight the limited progress made since March. With Brexit negotiations slowly meandering towards the end of the latest three-month period as lawmakers ...

  Read More »
• 19 June

  As Kim visits China, Xi flaunts bargaining chip in trade dispute

  

  Bloomberg As if on cue, Kim Jong-un returned to Beijing on Tuesday in an illustration of how President Donald Trump’s tariff threats against China could spiral into a broader conflict between the world’s two largest economies. The North Korean leader was expected to spend two days in China — his third such visit since March — presumably to confer with ...

  Read More »
• 19 June

  US agreed to ‘alter’ Korea armistice at Kim summit

  

  Bloomberg President Donald Trump has agreed to “alter” the 1953 armistice halting the Korean War if North Korea gives up its nuclear weapons, Secretary of State Mike Pompeo said, revealing an apparent promise from Trump’s summit with Kim Jong-un that wasn’t announced at the time. “He has made very clear his commitment to fully denuclearise his country,” Pompeo said of ...

  Read More »
• 19 June

  PM’s ruling coalition loses ally in India

  Bloomberg Prime Minister Narendra Modi’s ruling coalition lost a second political ally in three months after his Bharatiya Janata Party (BJP) withdrew its support from the government in the troubled northern state of Jammu and Kashmir. Blaming the state government-led by Mehbooba Mufti of the regional People’s Democratic Party for its failure to maintain law and order and curb a ...

  Read More »
• 19 June

  Europe heads for refugee clash with euro plans pushed aside

  

  Bloomberg Spain and Italy are heading for a clash over migration as Rome hardened its tough stance on refugees and the new government in Madrid called for a humane approach to asylum-seekers. Three years after a wave of immigrants fleeing wars and chaos in the Middle East and North Africa threatened to overwhelm the European Union, the issue is back ...

  Read More »
• 19 June

  China’s pipeline champion misses an opportunity

  

  China’s plans to create a pipeline giant to aid development of its natural gas market are overdue, and welcome. Unfortunately, they don’t go far enough. The state-owned champion, provisionally dubbed China Pipelines Corp., will combine the pipeline divisions of state-owned PetroChina Co., China Petroleum & Chemical Corp. or Sinopec, and Cnooc Ltd. A mooted market capitalization of as much as ...

  Read More »
• 19 June

  Norwegian takes to the skies again

  

  Just when the excitement about a potential takeover of Norwegian Air Shuttle AS was beginning to flag, here comes another pocket of air to keep it aloft. British Airways owner IAG SA has sounded more circumspect lately about its stated interest in the transatlantic budget airline. So shareholders in the target will have been delighted by comments from Lufthansa AG’s ...

  Read More »
• 19 June

  Maybe big banks are giving back too much

  

  During the next couple of weeks, the Federal Reserve will generate a data point of great interest to investors: After subjecting the nation’s biggest banks to so-called stress tests, it will decide how much money they can pay out to their shareholders. Fed officials should keep in mind that if the number gets much bigger, it could start chipping away ...

  Read More »
• 19 June

  How Europe can end Greece’s debt ordeal

  As if Italy and Brexit weren’t challenging enough, the European Union will soon have to deal once more with Greece and its debts. The country is due to leave its third economic adjustment program this summer. After nearly a decade of support from its euro-zone partners and the International Monetary Fund, Greece and its creditors are hoping that it will ...

  Read More »