June, 2016

• 20 June

  Denmark govt to impose harsher penalty on banks

    Bloomberg Denmark’s government and regulator are looking into tougher laws including the option of imposing harsher penalties on banks after repeated breaches by Nordea Bank AB suggested the existing framework is too weak. Business Minister Troels Lund Poulsen met with the head of the Financial Supervisory Authority, Jesper Berg, discuss measures that could be enforced. The talks followed news ...

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• 20 June

  Rajan exit notice before Brexit poses stress test for India

  

    Bloomberg As if Brexit wasn’t enough to worry about, India investors now need to cope with central bank Governor Raghuram Rajan’s impending departure. The rupee, Asia’s worst performing currency this year, slumped to its lowest level in four weeks, following Rajan’s weekend announcement that he plans to return to academia when his term ends in September. Volatility in the ...

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• 20 June

  Tools that help reign over social media

  

    Chirag Kulkarni / TNS Social media channels can take all the time you are willing to throw at them and then take the same again. Yes, we need social channels for marketing, but it needs to be on our terms and work for us, not against. Luckily there is a wide range of third-party apps that make Twitter and ...

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• 20 June

  Rough wind downfall of German gliding pioneer

  

    Berlin / DPA In the middle of southern Israel’s desert, engineers are hard at work building the world’s tallest solar tower, reflecting the country’s high hopes for renewable energy. Once completed in late 2017, the Ashalim Tower will rise to 240 metres (787 feet), taller than Paris’s Montparnasse Tower and London’s Gherkin, according to the Israeli government and the consortium ...

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• 20 June

  Cameron vies to seize initiative in last days of Brexit campaign

  

    Bloomberg The U.K. referendum on European Union membership entered its final stages as David Cameron tried to capitalize on a swing in momentum back to the “Remain” campaign and former London Mayor Boris Johnson accused the prime minister of having nothing to offer voters. The pound surged on Monday as investors grew more confident British voters will opt to ...

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• 20 June

  UK foreign minister Hammond warns Brexit vote is ‘irreversible’

  

    Luxembourg / AFP A British vote to leave the European Union would be “irreversible” and the country could only rejoin the bloc on what would be unacceptable terms, Foreign Secretary Philip Hammond warned on Monday. “The message we are trying to get across to the British people is that this is an irreversible decision — if they decide to leave, ...

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• 20 June

  Pound surges big since 2008 as ‘Remain’ leads in surveys

  

    Bloomberg The pound climbed the most since 2008, spurring a global rally in higher-yielding currencies, as polls signaled the campaign for the U.K to stay in the EU was gaining momentum. Sterling’s volatility diminished as surveys taken after the murder of pro-EU lawmaker Jo Cox showed “Remain” gaining lost ground. A poll from Survation taken June 17-18 for the ...

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• 20 June

  EU exit may lead to 10% tax on UK-built cars: Toyota

  

    Bloomberg Toyota Motor Corp., the world’s largest automaker, warned a withdrawal by Britain from the European Union may lead to levies of as much as 10 percent on the cars it builds in the U.K. Brexit would challenge Toyota to cut costs or make its cars more expensive and hurt sales, the automaker said in a letter on Monday ...

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• 20 June

  Brexit leads to uncertainty in trade deals, says Jaguar

  

    Bloomberg Jaguar Land Rover said a withdrawal by the U.K. from the European Union could mean new trade deals will have to be negotiated both within the region and beyond, resulting in uncertainty. Leaving the EU would be “highly damaging” and make the U.K.’s biggest carmaker’s products less competitive in Europe, JLR Chief Executive Officer Ralf Speth said in ...

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• 20 June

  Spain joins forces with India’s Bollywood to boost tourism

  

    Madrid, Spain / AP Spain is coaxing Indian moviemakers to use its colourful fiestas and historic monuments as settings for their films, in a move to grab a bigger share of India’s fast-growing overseas tourism market. As part of its bid to lure visitors from the world’s second most populous country, Madrid will host next weekend the annual International Indian ...

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