June, 2017

• 5 June

  PwC probe over Tesco scandal dropped by accounting regulator

  Bloomberg A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case. The FRC said in a statement on Monday, however, that it would continue investigating other Tesco auditors. The decision is the latest twist in a nearly three-year-old saga ...

  Read More »
• 5 June

  Arab nations cut ties with Qatar as Gulf rift deepens

  

  Bloomberg Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday, accusing it of supporting terrorism and opening up the worst rift in years among some of the most powerful states in the Arab world. Iran—long at odds with Saudi Arabia and a behind-the-scenes target of the move—immediately blamed US President Donald Trump for ...

  Read More »
• 5 June

  Tillerson: China must do more to rein in N Korea

  Bloomberg US Secretary of State Rex Tillerson again urged China to do more to rein in North Korea, saying it should use its growing clout responsibly. “China is a significant economic and trading power, and we desire a productive relationship,” Tillerson said in Sydney on Monday after security talks with Australian counterparts. “But we cannot allow China to use its ...

  Read More »
• 5 June

  London fortifies bridges to protect pedestrians

  Bloomberg Concrete and metal barriers are being erected along the sidewalks on some of London’s bridges after terrorists used cars and vans to target pedestrians for the second time in just over two months. London police on Sunday evening said commuters could expect to see more officers on the streets and more physical measures on bridges, after at least three ...

  Read More »
• 5 June

  May spars with Corbyn on terrorism as UK vote nears climax

  

  Bloomberg U.K. opposition Labour leader Jeremy Corbyn traded blows with Prime Minister Theresa May over who has the worst record on countering terrorism, as Britain’s battle with extremists looked set to dominate the final three days of the election campaign. Saturday night’s London Bridge attack, which was claimed by IS, temporarily halted campaigning. But the political truce lasted less than ...

  Read More »
• 5 June

  ‘No evidence travel ban would make US safer’

  

  Bloomberg There’s no evidence President Donald Trump’s travel ban, struck down in the courts and awaiting Supreme Court review, would make the U.S. safer from the kinds of attacks carried out in London overnight, his predecessor’s national security adviser said. “There’s a very real risk that by stigmatizing and isolating Muslims from particular countries, and Muslims in general, that we ...

  Read More »
• 5 June

  German-Turkey ties crack as Gabriel snubbed in Ankara

  Bloomberg Germany’s foreign minister was set to return from a visit to Turkey on Monday with nothing but increased ill will, after talks failed to resolve disputes that have damaged relations between the NATO allies. Turkey will continue to block German officials from visiting their country’s troops at Incirlik, Turkey’s main NATO base near the Syrian border, Turkish Foreign Minister ...

  Read More »
• 5 June

  The messy reality of global warming

  

  There was no need for President Trump to withdraw the United States from the Paris climate agreement to achieve his goal of overturning the Obama administration’s global warming policy. This had already occurred through court rulings and executive orders, which effectively halted higher vehicle fuel economy standards (up to 54.5 miles per gallon) and ended the Clean Power Plan program, ...

  Read More »
• 5 June

  Uber is transportation, but keep that on the down low

  

  Uber is the San-Franscico-based technology company. It is also a transportation company. That may seem like a trivial distinction, but a lot is riding on it. And not just for Uber, but for every disrupter that fancies itself a technology company. Europe’s highest court — the European Court of Justice — will decide later this year whether Uber is more ...

  Read More »
• 5 June

  Eurozone needs more than a bundle of bonds

  

  The European Commission has been thinking about ways to strengthen the euro zone, and is proposing a plan for a new “sovereign bond-backed security.” Give the commission credit for putting its finger on an important defect of the euro-zone system. Unfortunately, its remedy falls far short. The defect is the so-called “doom loop” between governments and banks. Banks in Europe ...

  Read More »