June, 2018

• 5 June

  Sweden in gridlock as nationalists rise

  

  Bloomberg Sweden’s nationalists are cementing their support at near 20 percent as the country heads for an election in September that is all but certain to end in gridlock. The anti-immigrant Sweden Democrats (SD) were backed by 18.5 percent of potential voters, up 5.6 percentage points from the election in 2014, a watched biannual poll from the country’s statistics office ...

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• 5 June

  Trump’s Germany envoy ignites fresh political furor

  Bloomberg President Donald Trump’s ambassador to Germany ignited a fresh political furor after telling news website Breitbart he wants to “empower” conservative forces across Europe, compounding already tense trans-Atlantic relations. Germany’s Foreign Ministry said it will seek a clarification over the comments by US Ambassador Richard Grenell when he meets a deputy foreign minister on Wednesday. Grenell said in an ...

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• 5 June

  Manafort trying to tamper with witnesses: Mueller

  

  Bloomberg Special Counsel Robert Mueller accused Paul Manafort, the former chairman of Donald Trump’s 2016 presidential campaign, of attempting to tamper with witnesses in the federal case charging him with money laundering and acting as an unregistered foreign agent of Ukraine. Manafort and a longtime associate tried to contact two witnesses to secure false testimony about work that a group ...

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• 5 June

  Spanish PM to defend against claims he’s soft on Catalonia

  

  Bloomberg Spanish Prime Minister Pedro Sanchez is looking to defend himself against claims he’ll be too generous to Catalan separatists with his first appointments. Foreign Minister-Designate Josep Borrell was one of the most high-profile defenders of Spanish unity during last year’s crisis and as a Catalan has particular authority to tackle the separatists’ arguments. The 71-year-old will also be in ...

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• 5 June

  Are the US, China making the world safe for fraud

  

  China and the United States are presenting themselves as exemplars of opposite models of political governance. China has laid out its vision for a rejuvenated nation: a socialist planned economy, built on data and analytics, that will displace market economies. The US is taking the opposite route: withdrawing government from the marketplace, deregulating the economy through executive orders, starving regulators ...

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• 5 June

  Hong Kong banks, meet the 21st century

  

  Ironically, the city that should have been first to be swept up by China’s fintech revolution is still a picture of old-world conservatism. Not for long, though. Hong Kong, whose last big innovation in retail payments is as old as the former British colony’s 1997 handover to China, is on the cusp of big change. The Hong Kong Monetary Authority’s ...

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• 5 June

  Why buy a car when you can subscribe to one?

  

  Venture capital investor and longtime technology observer Mary Meeker has published her annual Internet Trends presentation — 294 slides this year, including a section on transportation. There’s a useful finding on slide 128: What Americans spend on purchasing vehicles has dropped since the 1970s, while spending on “other transportation,” including public transport and ride hailing, has nearly doubled. Bloomberg New ...

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• 5 June

  US farms can’t compete without foreign workers

  American farmers have been complaining of labor shortages for several years now. Given a multi-year decline in illegal immigration, and a similarly sustained pickup in the US job market, the complaints are unlikely to stop without an overhaul of immigration rules for farm workers. Efforts to create a more straightforward agricultural-workers visa that would enable foreign workers to stay longer ...

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• 5 June

  Italian populism may not bring economic doom

  

  The economic policy proposals of Italy’s populist coalition have spooked the markets, which have driven up government debt yields. And yet the two coalition partners, League and the Five Star Movement, may be on to something with a proposal for a two-tier flat tax. Today, Italy has five income tax brackets with rates ranging from 23 percent to 43 percent. ...

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• 5 June

  Anbang is taking a long, slow road to redemption

  

  Prepare for the great, but slow, unwinding of a Chinese leviathan. Anbang Insurance Group Co., the bailed-out owner of assets from New York’s Waldorf Astoria hotel to Dutch insurer Vivat NV, is sending out mixed messages. The conglomerate hired bankers at UBS Group AG and China International Capital Corp. to advise on potential divestments, Bloomberg News reported; yet the government ...

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