July, 2017

• 8 July

  Negotiations won’t stop N Korea from getting nuke

  

  When North Korea tested an intercontinental ballistic missile this week — what its boy tyrant called a ‘gift to the American bastards’ — the response from the Trump administration was fairly conventional. Secretary of State Rex Tillerson correctly called it an escalation. He announced America’s intention to bring the matter before the UN Security Council. And he assured, “We will ...

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• 8 July

  The new economy needs to go a bit retro

  

  A taxi company that owns no cars. A media titan that creates no content. A retailer with no stores. A couple of years ago, this was the view of Uber, Facebook and Amazon: growing powerhouses even though they consisted of little more than software engineers and data centers (and, in Amazon’s case, a back room with no storefront). Perhaps the ...

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• 8 July

  Retail apocalypse leads to suburban renaissance

  

  As technology changes, a country’s industrial mix changes. A century and a half ago, most Americans — and indeed, most human beings — worked on farms. Today almost nobody does. Nowadays, a substantial number of Americans work in retail, ringing up purchases, stocking shelves or helping customers find what they need. But in a decade or two, it’s anyone’s guess ...

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• 8 July

  Samsung heads into a new season with record earnings

  

  Bloomberg Samsung Electronics Co. heads into the latter half of 2017 with record quarterly earnings under its belt, hoping to sustain that momentum as Apple Inc. prepares to debut the 10th-anniversary iPhone. Samsung intends to use its well-received Galaxy S8 to extend its lead against its American rival. But it will also lean heavily on its position as the world’s ...

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• 8 July

  Next WannaCry cyber attack could cost insurers $2.5bn

  

  Bloomberg Cyber crime insurers largely avoided costly claims from the recent attacks that hit businesses around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously affect insurers,” Graeme Newman, chief innovation officer at CFC Underwriting, said in an interview. “It would only need a ...

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• 8 July

  Chip firm Rambus works with adviser to pursue sale

  

  Bloomberg Rambus Inc., a chip designer with a lengthy history of patent litigation, is considering a sale even as it has expanded its business to include sales of its own branded chips, people familiar with the matter said. The Sunnyvale, California-based company is working with a financial adviser to evaluate sale options and seek potential suitors, the people said, asking ...

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• 8 July

  Waymo drops most patent claims in car tech fight with Uber

  

  Bloomberg Waymo, Alphabet Inc.’s self-driving car division, dropped three of four patent-infringement claims in its lawsuit against Uber Technologies Inc. over the startup’s autonomous vehicle program. Waymo’s decision to include patent claims in its complaint against Uber was a surprise move for Google parent Alphabet, which normally prides itself on limiting patent fights. The bulk of Waymo’s case is not ...

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• 8 July

  Chinese bank giants lose $15 billion on share rout

  

  Bloomberg Investors couldn’t sell Chinese banking giants fast enough this week. Industrial & Commercial Bank of China Ltd. (ICBC), Agricultural Bank of China Ltd. (ABC) and Bank of China Ltd. (BOC) posted their worst weeks since at least June 2016, while China Construction Bank Corp. (CCB) fell for a fifth consecutive week. The lenders were among the biggest decliners on ...

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• 8 July

  ECB officials differ over stimulus plan

  

  Bloomberg European Central Bank (ECB) policy makers continued to air their differences over when to rein in stimulus, sending conflicting signals on whether pumping cash into the economy for much longer will help the euro area or hurt it. “Underlying inflationary pressure remains subdued” and “we still need a long period of accommodative policy,” Executive Board member Peter Praet, the ...

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• 8 July

  Deutsche Bank’s London trading heart faces long carve-out

  

  Bloomberg For the better part of this century, Deutsche Bank’s trading heart has been beating in London. Now, it’s gradually being transplanted to Frankfurt. Europe’s largest securities firm is preparing to turn Frankfurt into its global booking center, a shift that may entail moving large parts of the trading and investment-banking assets it currently books in London to its hometown, ...

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