June, 2018

• 5 June

  Canadian oil has record day after Enbridge scraps new rules

  Bloomberg Canadian crude surged by the most ever after Enbridge Inc. said it won’t implement a new procedure to stop shippers from claiming more space than they can use on a key pipeline linking Alberta’s oil sands with US refineries. Western Canadian Select jumped as much as $12.20 a barrel to $13.80 below the US benchmark, the narrowest spread since ...

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• 5 June

  Payout plan guides $7 billion of Tata Consultancy investments

  

  Bloomberg India’s Tata Consultancy Services Ltd. is bunching the 477 billion rupees ($7.1 billion) of its cash reserves in short and long-tenure securities to balance its need for easy liquidity with safety as it looks to make significant payouts to shareholders each year. Asia’s largest software services provider invested about 53 percent of its reserves in government securities as of ...

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• 5 June

  MyRepublic considers Hong Kong listing in December 2019

  

  Bloomberg Singapore-based Internet provider MyRepublic Group Ltd. is weighing an initial public offering in Hong Kong as early as December 2019 to fund expansion of its cloud-based broadband and mobile platform. The company has raised $150 million in capital, including a $60 million injection from Singapore family office Kamet Capital Partners and CLSA Ltd.’s asset management arm, according to CEO ...

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• 5 June

  Sharp to buy Toshiba’s PC unit, license brand

  

  Bloomberg Sharp Corp., controlled by Foxconn Technology Group, plans to buy Toshiba Corp.’s personal-computer business as its Taiwanese parent seeks to expand beyond contract manufacturing and build a brand of its own. Toshiba is selling 80 percent of the unit for 4 billion yen ($36 million) and the two companies aim to complete the sale by October 1, they said ...

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• 5 June

  China weighs new high-tech stock venue

  

  Bloomberg China is expanding efforts to keep its most promising companies from going public in Hong Kong or the US, with officials studying a new trading venue in Shanghai that would have lower thresholds for biotechnology and high-tech firms, people with knowledge of the matter said. Government entities including the China Securities Regulatory Commission and Ministry of Science and Technology ...

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• 5 June

  Giant waste-spewing mine turns to battleground in Indonesia

  

  Bloomberg Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come. The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport’s current ...

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• 5 June

  Apple ups privacy controls in growing spat with Facebook

  

  Bloomberg Apple Inc. executives rarely call out Facebook Inc., but they made more moves to limit the social network’s data collection. In iPhone, iPad, and Mac software updates later this year, Apple’s default Safari web browser will show a pop-up window asking users for permission before loading share buttons from social networks including Facebook. These buttons make it easy to ...

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• 5 June

  Microsoft’s GitHub buy may spell more work for competitor

  

  Bloomberg A company whose ticker is “TEAM” was just out-shined with crafty teamwork by a competitor. Atlassian Corp turned positive late in trading after a drop of as much as 2.3 percent after Microsoft Corp. agreed to purchase GitHub for $7.5 billion in stock. Bloomberg Intelligence analyst Mandeep Singh notes that “Atlassian will now have to compete against Microsoft, which ...

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• 5 June

  UK must get on with Brexit plans: Businesses

  

  Bloomberg UK businesses told Prime Minister Theresa May to get on with taking key Brexit decisions as companies start putting their contingency plans in place, according to a person at a meeting at her London office. May gathered leaders of companies ranging from aerospace to retail along with Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis for ...

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• 5 June

  UK services sector grows faster than forecast

  Bloomberg The UK services sector grew more than forecast in May as the economy continued to plot a modest recovery from the snow disruption of the first quarter. IHS Markit said on Tuesday its Purchasing Managers Index rose for a second month to 54 from 52.8. That beat the reading of 53 predicted in a Bloomberg survey. Taken together with ...

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