June, 2018

• 19 June

  China can squeeze US firms after Trump threat

  

  Bloomberg China doesn’t import enough from the US to match Donald Trump’s tariffs dollar for dollar, but President Xi Jinping can still squeeze American companies in other ways in retaliation. American businesses from Apple Inc and Walmart Inc to General Motors Co. all operate in China and are keen to expand. That hands Xi room to impose penalties such as ...

  Read More »
• 19 June

  VW names Schot as interim Audi chief

  

  Bloomberg Volkswagen AG picked Bram Schot as interim chief at its Audi unit, taking nearly two days to decide after being caught wrong-footed by the surprise arrest of longtime leader Rupert Stadler over his role in the diesel-emissions scandal. The decision elevates an executive so far untainted by the slow-motion scandal that continues to burn almost three years after the ...

  Read More »
• 19 June

  Fujifilm sues Xerox for $1bn over failed deal

  

  Bloomberg Fujifilm Holdings Corp. accused Xerox Corp. of caving to the whims of Carl Icahn and Darwin Deason in backing out of a $6.1 billion takeover deal. Fujifilm sued Xerox in Manhattan federal court over the failed takeover, seeking more than $1 billion in damages. Xerox walked away from the deal on May 13. “This change of heart is undoubtedly ...

  Read More »
• 19 June

  EchoStar weighs higher Inmarsat bid after rebuttal

  Bloomberg EchoStar Corp is considering raising its offer for rival Inmarsat Plc after its initial approach for the British satellite company was rejected as being too low, according to people familiar with the matter. EchoStar, founded by billionaire Charlie Ergen, is discussing financing for an improved offer in the coming days, said the people, who asked not to be identified ...

  Read More »
• 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 »