July, 2016

• 13 July

  Offshore Yuan pares gains as trade data signals demand slowdown

  

    Bloomberg The offshore yuan pared gains as a slide in imports prompted speculation that China’s central bank will ease monetary policy to boost consumer demand. A third monthly decline in exports also damped sentiment, showing the limitations of China’s strategy of boosting shipments by weakening the yuan against the exchange rates of its trade partners. The yuan earlier surged ...

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• 13 July

  Tokyo Disneyland to witness visitors boost by 2020

  

    Bloomberg  The operator of Tokyo Disneyland expects overseas visitors to more than double by 2020 to around 4 million as Walt Disney Co’s first resort outside the US rides on publicity generated by Shanghai’s new theme park and a government plan to draw more tourists to Japan. Oriental Land Co which is licensed to operate the Tokyo resort consisting ...

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• 13 July

  Spanish banks surge as fears ebb over EU mortgage ruling

  

    Bloomberg Spanish banks such as Banco Popular Espanol SA surged after an aide to the European Union’s top court said they may avoid having to refund billions of euros to customers who paid too much interest on home loans before a 2013 ruling on so-called mortgage floors. Spain is entitled to apply the time limit due to the “macroeconomic ...

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• 13 July

  Pound reaps rewards as May’s succession calms political storm

  

    Bloomberg After weeks of political turmoil, a semblance of stability is returning to U.K. politics, and the pound is feeling the benefit. Sterling is headed for its longest winning streak in two months before Theresa May took over as prime minister on Wednesday, ending a period of political instability that has lasted since the U.K. voted to leave the ...

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• 13 July

  Consumers take back seat in $19bn Romanian GDP revamp proposal

  

    Bloomberg Romanian consumers, the driving force behind one of Europe’s fastest-growing economies, must step aside under a new growth plan that will funnel €17bn into manufacturing and production, according to Deputy Prime Minister Costin Borc. The strategy — drawn up with the central bank and President Klaus Iohannis — runs to 2020 and envisages gross domestic product jumping by ...

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• 13 July

  Eurozone industrial output slides in May

  AFP Eurozone industrial production fell back 1.2 percent month on month in May, reversing a revised 1.4 percent rise for April, Eurostat data showed on Wednesday, raising concerns of sluggish growth. Explaining the fall, the European statistics body cited production of energy falling by 4.3 percent, capital goods by 2.3 percent and durable consumer goods by 1.4 percent. A Capital ...

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• 13 July

  Draghi’s bazooka elevating stress levels as insurers face test

  

    Bloomberg European insurers, whose profits are being eroded by Mario Draghi’s quantitative easing program, face a stress test headache that risks requiring them to set aside more capital, further hurting their ability to make money. The timing of the regulator’s “stress test couldn’t be worse as the results will be rather negative,” said Lutz Roehmeyer, who helps oversee about ...

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• 13 July

  Oil retreats after industry data shows US stockpiles expanding

  

    Bloomberg Oil fell from the biggest gain in three months after U.S. industry data showed the nation’s crude stockpiles increased, adding to concerns about oversupply. Futures lost as much as 1.5 percent in New York. Inventories rose 2.2 million barrels last week, the American Petroleum Institute was said to report. Government data Wednesday is forecast to show a decline. ...

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• 13 July

  Corn rises as US demand gets a boost from Brazil’s woes

  

    Bloomberg Corn futures jumped after the latest U.S. government forecast for domestic inventories was less than expected, indicating that lower production in Brazil is boosting demand on the international grain market for American exports. U.S. stockpiles will be 2.081 billion bushels as of Aug. 31, 2017, the end of the marketing year, U.S. Department of Agriculture data showed Tuesday. ...

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• 13 July

  Hyperloop’s co-founder sues firm, claims mismanagement of funds

  

    Bloomberg Hyperloop Technologies Inc., a startup trying to develop Elon Musk’s idea to use levitation for high-speed transportation, was sued by a co-founder over claims that the company’s financiers are killing it through their own greed. Shervin Pishevar, the Silicon Valley venture capitalist who helped form Hyperloop in 2014, was accused in the lawsuit by fellow co-founder Brogan BamBrogan ...

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