July, 2017

• 29 July

  Trump wish of Russian detente dies as Putin expels diplomats

  

  Bloomberg Donald Trump’s first meeting with Vladimir Putin this month seemed to give the US president everything he wanted. The two appeared to get along. There was a modest cease-fire deal on Syria. Moscow’s meddling in the US election was raised, but both leaders were eager to move on. Three weeks later, relations between the US and Russia are at ...

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• 29 July

  Merkel refugee policy in focus after Hamburg attack

  

  Bloomberg An attack in the northern city of Hamburg thrust Chancellor Angela Merkel’s refugee policy into the spotlight less than two months before Germany goes to the polls. Police were aware that the man suspected of a stabbing spree on Friday had shown of signs radicalization, Hamburg’s interior minister, Andy Grote, said in a press conference on Saturday. The attack ...

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• 29 July

  EU on ‘road to nowhere’ trying to stop court changes: Poland

  Bloomberg Poland rejected the European Union’s move on Saturday for a possible lawsuit to halt the just-passed overhaul of the country’s lower courts, saying the bloc lacked such authority and would ultimately have to turn back. The escalation in an almost two-year row over court independence and the government’s respect for the rule of law opens the way for the ...

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• 29 July

  Oil companies slash drilling budgets as caution takes hold

  

  Bloomberg Caution lights are flashing for the oil industry. Facing lower-than-expected commodity prices, drillers from ConocoPhillips to Hess Corp. to Statoil ASA have slashed their capital spending plans in recent days, as companies lay out their plans to cope with oil prices stuck below $50 a barrel. The budget cuts won’t necessarily mean less oil or natural gas on the ...

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• 29 July

  India wind projects in peril as states rethink purchases

  

  Bloomberg Two Indian states at the forefront of adding renewables to their power mix are backtracking on agreements for at least one gigawatt of wind projects and are seeking lower prices, potentially dealing a blow to Prime Minister Narendra Modi’s green energy goals. The southern states of Andhra Pradesh and Karnataka, which account for a quarter of the country’s installed ...

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• 29 July

  OPEC, non-OPEC to discuss cut compliance

  

  Bloomberg Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on August 7-8 to discuss why some of them are falling behind in their pledges to cut production, according to an OPEC statement. The meeting, co-chaired by Kuwait and Russia, will examine reasons why some countries aren’t fully implementing their cuts, it said. Some nations will argue ...

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• 29 July

  Kuwait joins Saudi, UAE to promise more oil cuts

  

  Bloomberg Kuwait joined the United Arab Emirates in promising to pump less oil after Saudi Arabia called on fellow OPEC producers to cut more supply to help curb the global glut. Kuwait Petroleum Corp. has agreed with customers in the US to reduce contractual sales volumes of oil for 2017, state-run KPC said. The announcement came after UAE Minister of ...

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• 29 July

  Oilfield rush to high-tech helps smaller companies thrive

  

  Bloomberg A wave of next-generation upstarts is hitting America’s oil patch, offering high-tech solutions aimed at an industry in flux following the worst crude-market crash in a generation. At a time when the five biggest oilfield servicers — still smarting from the price rout — have cut almost $1 billion from their research budgets, companies such as Ambyint Inc. are ...

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• 29 July

  Starbucks suffers worst rout in two years, targets China

  

  Bloomberg Starbucks Corp. suffered its biggest stock decline in almost two years after cutting its forecast, renewing fears about sputtering growth at the world’s largest coffee chain. The shares dropped as much as 8.2 percent to $54.63 in New York, the biggest intraday plunge since August 2015. Slowing growth in the US forced Starbucks to cut its profit forecast for ...

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• 29 July

  HNA Group seeks more arrangers for delayed property IPO

  

  Bloomberg HNA Commercial REIT is seeking to add arrangers to its planned Singapore initial public offering as Bank of America Corp. walks away from the deal, people with knowledge of the matter said. The property trust, backed by embattled Chinese conglomerate HNA Group Co., has been reaching out to investment banks to gauge their interest in taking a senior role ...

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