June, 2018

• 11 June

  No Brexit for energy as UK set to draw more power from EU

  

  Bloomberg As the UK government works to exit the European Union, the nation’s electric utilities are working to get closer. Power already flows between the UK, France, Ireland and Northern Ireland through four interconnector cables, and work is under way to more than quadruple the capacity of those links. The cables will establish a stronger physical tie with the continent ...

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• 11 June

  Botswana coal miner sees opportunity in ‘shortages’

  

  Bloomberg Botswana’s sole operating coal mine will increase output almost threefold within seven years as it eyes export opportunities created by a shortage of the fuel that’s used to fire most of southern Africa’s power plants. Morupule Coal Mine in the east of the country will ramp up annual production to 8 million metric tonnes by 2025 from 2.8 million ...

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• 11 June

  EDP says Three Gorges bid low, will seek details

  Bloomberg EDP-Energias de Portugal SA’s executive board reaffirmed that the 9.1 billion-euro ($10.7 billion) takeover offer from China Three Gorges Corp. is low and said it will seek more information from the bidder about its plans for the Portuguese utility. “The executive board of directors notes that there are merits in the strategic intentions of the offeror,” Lisbon-based EDP said ...

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• 11 June

  Facebook’s top market heads for strict privacy regulations

  

  Bloomberg B.N. Srikrishna is a genial, 77-year-old former Supreme Court judge who recites Shakespeare and Sanskrit scriptures with equal facility. But he’s making the likes of Google, Amazon and Facebook more than a little nervous. Srikrishna is leading the effort to draft new data-privacy laws for India that will regulate how tech giants from the US and elsewhere operate in ...

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• 11 June

  Xiaomi considers seeking $5 billion from sale of CDRs

  

  Bloomberg Xiaomi Corp. is considering raising about half of its proposed $10 billion initial public offering from mainland Chinese investors, people familiar with the matter said. The company may seek about $5 billion from the sale of Chinese depositary receipts and a similar amount from selling shares in Hong Kong, the people said, asking to not be identified as the ...

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• 11 June

  ‘Anti-state’ groups incite nationwide protests: Vietnam

  

  Bloomberg Vietnam said the groups behind June 10’s protests against proposed laws demonstrators view as curbing Internet freedom and favoring Chinese investors were trying to damage the country’s image, after the rare display of public activism reportedly turned violent. Thousands of demonstrators from Hanoi to Ho Chi Minh City rallied against draft cyber and economic-zone laws being considered by the ...

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• 11 June

  Elliott urges Thyssenkrupp to negotiate better Tata Steel deal

  Bloomberg Elliott Capital Management urged Thyssenkrupp AG to negotiate a better steel joint venture with Tata Steel Ltd., increasing pressure on the German company’s management to deliver more favorable terms. In a letter to Thyssenkrupp management, Elliott highlighted the divergence in performance in Tata and Thyssenkrupp’s steel businesses. The weakness in Tata’s recent performance means that a tie-up is now ...

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• 11 June

  Cobalt battery boom wavers as prices slide in top user China

  

  Bloomberg Cobalt is facing its first major test since an impending demand boom from electric vehicles triggered a two-year surge, with prices retreating in top consumer China amid signs there’s still enough material to go around. The price for cobalt sulfate — the chemical form used in car batteries and consumer electronics — fell to its lowest since January, and ...

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• 11 June

  Judge could clear AT&T’s Time Warner deal with ‘no blackout’ fix

  

  Bloomberg AT&T Inc.’s wait is finally over. Nearly two years after inking an $85.4 billion deal to acquire Time Warner Inc., the phone giant will learn on Tuesday whether a federal judge in Washington will grant the US Justice Department’s request to block the takeover on antitrust grounds. The decision hinges on whether the combination of AT&T’s pay-TV and mobile-phone ...

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• 11 June

  Factory, manufacturing output fall casts doubt over British economy

  

  Bloomberg UK manufacturing output fell the most in 5 1/2 years in April and construction posted a smaller-than- expected gain, casting fresh doubt over the health of the economy. The pound fell. Factory production shrank 1.4 percent, the most since 2012, the Office for National Statistics said. Economists had expected an increase. Building output rose 0.5 percent, well short of ...

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