July, 2017

• 3 July

  Energy shares lead European stock rebound after 4-week loss

  

  Bloomberg Banks and energy producers led a broad rally in European stocks as investors kicked off the second half of the year. The Stoxx Europe 600 Index added 0.6 percent at 8:21 a.m. in London, rebounding from a two-month low. The benchmark on Friday extended its June declines to 2.7 percent, the worst in a year, halting its longest run ...

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• 3 July

  Modi’s reform agenda not yet done as new tax launched

  

  Bloomberg With a landmark goods and services tax now rolling out across India, Prime Minister Narendra Modi is likely to turn his focus to job creation and other key economic reforms. Further big structural steps, such as revamping India’s land acquisition and labor laws, are unlikely to occur before the next national election, scheduled for 2019, as Modi’s Bharatiya Janata ...

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• 3 July

  Honda beats June estimates as market concludes drab first half

  

  Bloomberg Honda Motor Co.’s US auto sales rose more than analysts estimated in June, giving a positive start to mid-year reports following a five-month streak of industry declines. The Japanese automaker sold 139,793 vehicles in the US last month, a 0.8 percent increase from the same month last year. Analysts had been expecting a 0.5 percent increase. Sales of the ...

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• 3 July

  China Inc.’s $7.8bn of dividend payouts to stress Yuan

  

  Bloomberg The yuan’s rebound may be undermined by a seasonal hunt for dollars as Chinese companies prepare to pay dividends to shareholders overseas. Demand for the greenback and other currencies will peak at $7.8 billion in July, a substantial sum considering that local lenders settled an average of $11.8 billion in foreign-exchange for clients in the first five months of ...

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• 3 July

  Sumitomo Mitsui chooses Frankfurt for EU base

  Bloomberg Sumitomo Mitsui Financial Group Inc. has decided to set up banking and securities units in Frankfurt to maintain business in the European Union following the UK’s eventual departure from the bloc. Japan’s second-biggest lender by market value is establishing the units to offer services “with no disruption” once Britain leaves the union, it said in a statement on Monday. ...

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• 3 July

  Facebook’s small print might be antitrust’s next big target

  

  Bloomberg Facebook Inc.’s small print may be the next big thing in European antitrust as watchdogs home in on how the world’s biggest social network collects information from users that helps generate vast advertising revenues. Germany’s Federal Cartel Office is examining whether Facebook essentially takes advantage of its popularity to bully users into agreeing to terms and conditions they might ...

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• 3 July

  Tesla CEO says Model 3 passes all regulatory requirements

  Bloomberg Tesla Inc. investors, customers and fanboys got some much-anticipated news on the Model 3 timeline when Chief Executive Officer Elon Musk announced that the mission-critical model passed all its regulatory requirements for production two weeks ahead of schedule. “Expecting to complete” the first car Friday, Musk wrote in a Twitter post. The company will hold a handover party for ...

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• 3 July

  Aspen CEO sees more dealmaking in emerging markets

  

  Bloomberg Aspen Pharmacare Holdings Ltd. sees further acquisitions in the next 12 months as strong revenue and lower capital expenditure restore its firepower after the purchase of two anesthetics portfolios last year. The potential deals will probably be made in the South African company’s existing pharmaceutical markets, with womens’ health a possible area of expansion, Chief Executive Officer Stephen Saad, ...

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• 3 July

  Drugmakers’ payments to UK health groups, doctors rise 25%

  

  Bloomberg Drugmakers in the UK led by AstraZeneca Plc increased payments to local health-care organizations, doctors and other workers by 25 percent last year, with most of that money going toward research and development, voluntary disclosures by the recipients showed. The spending climbed to 455 million pounds ($590 million) last year, according to a report on Friday from the Association ...

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• 3 July

  Euro-area manufacturing accelerates as orders fuel optimism

  

  Bloomberg Euro-area manufacturing expanded at the strongest pace in over six years as factories across the region took on more workers to deal with surging orders. A Purchasing Managers’ Index climbed to 57.4 in June, up from 57.0 in May and above a June 23 flash estimate, IHS Markit said on Monday. Growth rates improved in most of the surveyed ...

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