June, 2017

• 14 June

  Head of Burger King, Tim Hortons sees no synergy between brands

  

  Bloomberg Don’t expect to see Tim Hortons doughnuts showing up at a Burger King anytime soon. Restaurant Brands International Inc. — the fast-food empire that owns Burger King, Tim Hortons and now Popeyes Louisiana Kitchen — plans to keep the divisions separate, with no mixing of menu items. Despite Restaurants Brands’ reputation for scooping up businesses and squeezing costs, it ...

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• 14 June

  Boeing pares 50 defense executives, eliminating management layer

  

  Bloomberg Boeing Co.’s defense business is shedding about 50 executive positions, eliminating a layer of management and expanding the operational role of the division’s boss, Leanne Caret. Starting July 1, the $29.5 billion defense unit’s main businesses — Boeing Military Aircraft and Network & Space Systems– will split into smaller entities reporting directly to Caret, the company said in a ...

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• 14 June

  Dior chief upbeat on Europe prospects with Macron reforms

  

  Bloomberg Christian Dior SE Chief Executive Officer Sidney Toledano is optimistic the European economy will do better in the coming years, especially with recently elected French President Emmanuel Macron’s promises to reform labor market regulations. “We have a new president — I think this will be very positive for the economy,” said Toledano in an interview with Bloomberg TV in ...

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• 14 June

  Oil from OPEC’s rivals to exceed demand growth in 2018: IEA

  

  Bloomberg New oil supplies from OPEC’s rivals will be more than enough to meet growth in demand next year, the International Energy Agency said in its first forecast for 2018, an indication the cartel may need to extend production cuts further. The US, Brazil, Canada and other producers outside the Organization of Petroleum Exporting Countries will increase output next year ...

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• 14 June

  China’s May oil output lowest on record

  

  BEIJING­­­­ / Reuters China’s crude oil production fell to its lowest on record in May, even as refineries in the world’s top buyer of crude churned out product at their fastest pace in nearly two years, data showed on Wednesday. Crude output fell 3.7 percent in May from a year earlier to 16.26 million tonnes, or 3.83 million barrels per ...

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• 14 June

  Oil resumes drop on signs US crude stockpiles extended gains

  

  Bloomberg Oil resumed its decline as industry data showed US crude stockpiles extended gains, exacerbating an inventory overhang. Futures lost as much as 1.4 percent in New York after rising 1.8 percent in the previous three sessions. The American Petroleum Institute signaled US inventories probably climbed a second week, ahead of Energy Information Administration data which is forecast to show ...

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• 14 June

  Coal no longer king as China spurs shift to cleaner energy

  Bloomberg China’s domination of energy markets — long the driver of soaring fossil-fuel consumption and rising carbon pollution — is now turning the planet in a cleaner direction. The biggest energy consumer is moving toward the end of an era after it burned the least coal in six years, became the number one producer of renewable energy and even lowered ...

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• 14 June

  Shale drillers may be digging own hole as oil flirts with $40

  

  Bloomberg US shale is coming perilously close to puncturing its own rally. Just months after predicting double-digit production increases, largely based on crude prices sitting between $55 and $60 a barrel, drillers are suddenly contemplating the possibility of retrenchment as a stubborn global supply glut is keeping prices near $46. It’s a reversal that could accomplish what OPEC and other ...

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• 14 June

  China defaults feared as firms confront short debt addiction

  

  Bloomberg China’s leverage crackdown is forcing local companies to confront their addiction to short-term bond sales that they use to roll over debt. The shock therapy is worsening the outlook for corporate defaults in the second half of this year after borrowing costs jumped to a two-year high. With yields surging, Chinese non-banking firms sold 131 billion yuan ($19.3 billion) ...

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• 14 June

  India’s wholesale prices hit 2017 low on falling food prices

  

  Bloomberg India’s wholesale price inflation slowed in May from a year earlier on the back of falling food costs, indicating subdued price pressures in the pipeline and adding to expectations that the central bank may lower interest rates in coming months. Wholesale price index rises 2.17 percent in May from a year earlier, compared with a median estimate of 2.9 ...

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