TimeLine Layout

June, 2018

  • 4 June

    All roads, whether electric or even oil, lead to China

    A decade ago, knowing where the oil market was going meant knowing China. Today, the same can be said for electric vehicles — which means it still applies to oil, too. That’s a big takeaway from the latest edition of Bloomberg New Energy Finance’s annual Electric Vehicle Outlook. China isn’t the whole ballgame, but its role in determining the feasibility ...

    Read More »
  • 4 June

    Uber’s ghost in self-driving machine exposed

    What is an autonomous car — and more to the point, has Uber Technologies Inc. been operating them at all? From its public statements, you’d certainly think that its vehicles can more or less drive themselves, with humans required only as a safety back-up while the system is in trial mode. The preliminary report released by the US National Transportation ...

    Read More »
  • 4 June

    Stocks rise on growth outlook; Treasuries steady, dollar drops

    Bloomberg US and European stocks advanced on Monday, tracking peers in Asia as optimism over the world’s largest economy helped investors put protectionist fears to one side. Treasuries were steady, the dollar fell, and the pound and euro rose. The Standard & Poor’s 500 and Nasdaq Composite Indexes opened higher after Microsoft Corp. agreed to buy coding site GitHub for ...

    Read More »
  • 4 June

    $210 billion of Indian bad debt lures funds seeking returns

    Bloomberg India’s two-year-old bankruptcy law, which gives creditors more power to restructure troubled companies, is luring more and more offshore investors from as far as Canada to buy the nation’s bad debt. Caisse de dépôt et placement du Québec, a Canadian pension fund manager, has made $600 million available to Edelweiss Group for investment in local distressed assets, according to ...

    Read More »
  • 4 June

    China banks’ waning demand hints at more bond defaults

    Bloomberg China’s banks, scrambling to adjust to the government’s deleveraging campaign, are likely to add to pressures on the corporate bond market as they shed more of their massive note holdings and de-risk their balance sheets. Further payment problems are likely in a market that has already seen at least 14 corporate bond defaults this year, according to Logan Wright, ...

    Read More »
  • 4 June

    UniCredit considering merger with SocGen

    Bloomberg Italian bank UniCredit SpA is considering a merger with France’s Societe Generale SA, a move that would combine two of Europe’s largest financial institutions, the Financial Times reported. UniCredit Chief Executive Officer Jean Pierre Mustier, who is French and once worked for SocGen, has been developing the idea for several months, the FT said, citing people close to the ...

    Read More »
  • 4 June

    Commonwealth Bank of Australia to pay record fine to settle laundering suit

    Bloomberg Commonwealth Bank of Australia has agreed to pay the biggest civil penalty in Australian corporate history, after admitting to more than 53,000 money-laundering law breaches that allowed drug syndicates to funnel millions of dollars offshore. The nation’s largest lender will pay A$700 million ($530 million) to bring to an end the 10-month saga, which led to the departure of ...

    Read More »
  • 4 June

    Banks beat India’s RBI in raising borrowing costs

    Bloomberg Indian lenders are raising interest rates even before any central bank action as the strongest loan demand in four years amid weak deposit growth pressures funding costs. State Bank of India, ICICI Bank Ltd. and Punjab National Bank are among the nation’s biggest banks that increased their benchmark lending rates last week. The Reserve Bank of India, on the ...

    Read More »
  • 4 June

    JPMorgan emerges as world’s biggest currency trader

    Bloomberg JPMorgan Chase & Co. won the title of world’s largest currency trader by market share, ending Citigroup Inc.’s four-year run at the top, according to a Euromoney Institutional Investor Plc survey that featured a new methodology. JPMorgan took a 12.1 percent share, up from 10.3 percent last year. UBS Group AG came in second with 8.3 percent, and XTX ...

    Read More »
  • 4 June

    Deutsche Bank shrugs off China trade tensions

    Bloomberg Bubbling tensions between the world’s top two economies over tariffs pose no bar to diving into Chinese stocks, unless a full-blown trade conflict breaks out, according to Deutsche Bank AG. The US is on course to release its final list targeting $50 billion of Chinese imports with tariffs by June 15, with the levies taking effect soon after. And ...

    Read More »
Send this to a friend