June, 2017

• 5 June

  MobiKwik sees India cash ban ‘opportunity’ delaying profit goal

  Bloomberg One MobiKwik Systems Pvt., one of India’s largest digital-payment providers, is pushing back its target for profitability by a year as it invests more in its business to capitalize on the government’s shock ban on high-value rupee notes. The demonetization drive announced late last year created a digital-payments market at least 30 times bigger than what the company had ...

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• 5 June

  Canada trade disappoints with April deficit, March markdown

  

  Bloomberg Canada’s trade deficit was wider than forecast in April, and there was further disappointment in revised figures showing larger gaps in the prior two months. Imports exceeded exports by C$370 million ($274 million) in April, Statistics Canada said in Ottawa. The median forecast in a Bloomberg survey of economists was for shortfall of C$20 million. In addition to the ...

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• 5 June

  Germany, France keep euro-area growth pace at 6-year high

  

  Bloomberg Euro-area manufacturing and services continued to expand at the fastest pace in six years, powered by growth in the region’s two biggest economies — Germany and France. A composite Purchasing Managers’ Index held at 56.8 in May, unchanged from the previous month, IHS Markit said on Monday, confirming a May 23 estimate. A gauge for services slipped slightly, while ...

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• 5 June

  UK domestic demand boosts manufacturing sector

  

  Bloomberg UK manufacturing activity maintained its momentum in May and confidence rose as strong domestic demand buoyed orders. IHS Markit’s Purchasing Managers Index was at 56.7 in May after reaching 57.3 the previous month, which was the highest in three years. The reading was better than economists had forecast and keeps the index comfortably above the 50 level dividing expansion ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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