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Bloomberg President Donald Trump broadsided his allies and upended a Group of Seven meeting just as it wound up — disavowing a joint statement the US had agreed to, lashing out at Canada’s Justin Trudeau and ratcheting up trade tensions. Trump fired off a pair of tweets several hours after leaving the summit in Canada to fly to Singapore for ...
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June, 2018
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10 June
Former army captain Bolsonaro edges ahead in Brazil opinion poll
Bloomberg Far-right ex-army captain Jair Bolsonaro garnered more support in the wake of a crippling truckers’ strike that brought parts of Brazil to a standstill, a Datafolha opinion survey showed. The poll released by Folha de S.Paulo newspaper has Bolsonaro with 19 percent of vote intentions, up from 17 percent in an April poll. Former Environment Minister Marina Silva was ...
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10 June
Russia probe: Mueller heaps new charges on Manafort
Bloomberg US Special Counsel Robert Mueller’s latest indictment is significant beyond the new charges, in that it links senior officials on President Donald Trump’s presidential campaign to Russian intelligence in a criminal matter. Mueller’s indictment released against Trump’s former campaign chairman, Paul Manafort, adds charges to allegations that Manafort did illegal lobbying work for Ukraine and laundered millions of dollars ...
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10 June
UK’s May plans ‘lock-in’ to end cabinet war over Brexit
Bloomberg Prime Minister Theresa May will seek to quash Cabinet squabbling over her Brexit strategy by hosting another away-day at her countryside retreat early next month, as a potentially explosive new proposal emerged. May is facing a torrid time trying to reconcile Brexit backers and pro-Europeans in her top team, with the fight laid bare spectacularly. First there was widespread ...
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10 June
China is not feeling the yuan market love
The relationship between the value of the yuan and the US dollar has broken down in the first few months of 2018, raising questions over the actions and objectives of China’s central bank. Since unveiling a basket of reference currencies used to set the yuan’s exchange rate in 2015, the People’s Bank of China (PBOC) has largely left it alone. ...
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10 June
Fanuc in trouble? Talk to the ‘robot’ hand
Talk of the demise of the world’s largest industrial-machinery maker is probably overdone. Fanuc Corp., the low-key Japanese automation giant whose machines pepper factory floors across the globe, has fallen from investors’ grace: The stock is down more than 30 percent from its January high, while the Topix index has lost less than 6 percent. Much of the gloom stems ...
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10 June
Thank RBS for Europe’s newest tech champion
It’s said that banks stopped inventing anything useful after the ATM. Yet bailed-out lender Royal Bank of Scotland Group Plc (RBS) has given us not just one valuable payments processor, but two. Its Worldpay business was sold to private equity and changed hands again last year for $10 billion. Now Amsterdam-based Adyen BV — whose founders worked for Worldpay — ...
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10 June
The world can’t afford to buy high-tech insulin
The researchers who pioneered insulin injections for diabetes sufferers in 1922 were dedicated to making the life-saving treatment widely available, and gave away their rights to profit from the discovery. Yet almost a century later, the medicine is still beyond the reach of roughly half of the 100 million people around the world who need it. Governments should be asking ...
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10 June
Trump is closing doors to world’s smartest people
On 6 June 1944, American soldiers stormed the beaches of France, beginning a campaign that would roll back Nazi Germany’s control of Western Europe. It was an unprecedented display of military might and organizational prowess for the US. The man who led that heroic effort was himself of German descent—general and future president, Dwight D. Eisenhower. Eisenhower’s family, which changed ...
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10 June
HK’s China loan pipe is gurgling too loud
While Hong Kong’s stock and bond investment pipes to mainland China get much attention, a third link between the financial center and the People’s Republic has largely flown under the radar. The hidden “connect†hooks up banking flows from the city with borrowers up north; it’s large, and growing fast. Left unchecked, it could weaken Hong Kong’s lenders. Fitch Ratings ...
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