July, 2016

• 9 July

  Cheap carbon makes it tough to keep the world from warming

  

    Bloomberg Carbon markets, the free-enterprise solution to saving the world from global warming, are now in danger themselves. The idea was simple enough: Set a cap on carbon emissions, issue enough permits to allow power plants, refineries and the like to stay within those limits and then shrink the cap over time to achieve reductions. The companies whose emissions ...

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• 9 July

  Kazakh ruler retools nation for era of low-cost crude

  

    Bloomberg As Kazakhstan’s leader celebrated his 76th birthday this week, the social bargain that’s underpinned his more than quarter-century in charge is crumbling. President Nursultan Nazarbayev’s plans to retool his nation for an era of low-cost crude are meeting resistance from protesters opposed to land reforms and, more recently, from religious radicals. The struggle to implement his overhaul is ...

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• 9 July

  India’s steel import curbs raise prices and hit consumption

  

    Bloomberg India’s steel consumption dropped in June for the first time in at least 15 months, as curbs on imports raised prices in the domestic market. Demand fell 4.3 percent to 6.8 million metric tons from a year ago, the first drop since at least April 2015, when the Steel Ministry began to publish monthly data. Steel output in ...

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• 9 July

  Takata seeks investors, contacts upto 20 bidders to speed sale

  

    Bloomberg Takata Corp., the scandal-stricken air-bag maker that’s seeking investors, is reaching out to as many as 20 possible buyers in an effort to narrow down a list of suitors, according to people familiar with the matter. Takata is working on restructuring the company and is open to a sale to a private equity partner, a parts supplier or ...

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• 9 July

  India may raise FDI in print media

    AFP India is considering a proposal to increase the limit on foreign direct investment in local newspapers and magazines, two government officials said. The Finance Ministry recommended raising the cap to 49 percent from 26 percent, bringing it on par with that on news television channels, the officials said, asking not to be identified citing rules for speaking with ...

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• 9 July

  Telefonica sells China Unicom stake valued for US$367million

  

    Bloomberg Telefonica SA, facing roadblocks in the planned sales of its assets following Britain’s vote to leave the European Union, is paring a stake in China Unicom (Hong Kong) Ltd. to raise as much as US$367 million. The sale of 361.8 million shares began today and the stock is being offered at HK$7.75 to HK$7.85 apiece, according to terms ...

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• 9 July

  Iran’s Boeing deal under USA Congressional lens

  

    Bloomberg Boeing Co.’s historic agreement to provide 109 aircraft to Iran’s national airline is coming under increasing pressure from lawmakers in Washington. “I am extremely concerned that by relaxing the rules, the Obama administration has allowed US companies to be complicit in weaponizing the Iranian regime,” Republican Representative Bill Huizenga of Michigan said on Thursday at a hearing of ...

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• 9 July

  Virgin Galactic to restart flight tests of spaceship

    Bloomberg Virgin Galactic Ltd, the commercial space company founded by billionaire Richard Branson, is set to resume test flights next month in a new spaceship that replaces the craft that crashed in a fatal accident two years ago. The company is due to complete ground tests in August and move to testing the vessel in the skies while attached ...

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• 9 July

  Air France-KLM group’s CFO quits

  

    Bloomberg Air France-KLM Group Chief Financial Officer Pierre-François Riolacci announced he’s stepping down a week after a new CEO took charge, leaving the airline scrambling to find a successor amid tensions with French pilots over cost-cutting efforts. The stock dropped to a 3 1/2-year low. Riolacci will leave the carrier in November to become CFO at Danish facilities manager ...

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• 9 July

  Marks & Spencer sales slump worsen

  

    Bloomberg Marks & Spencer Group Plc reported its steepest drop in clothing sales in eight years as new chief Steve Rowe’s efforts to win back customers with cheaper prices on leggings and fewer clearances came at a cost. Same-store sales of clothing and home goods fell 8.9 percent in the 13 weeks ended July 2, the London-based company said ...

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