June, 2016

• 18 June

  Oi slumps as talks stall on debt restructuring

    New York / AFP Shares of Oi SA tumbled on speculation that Brazil’s most indebted telecommunications operator is closer to filing for bankruptcy protection after documents showed little sign of progress in talks with bondholders. The documents give a glimpse into just how complicated the restructuring is. Rio de Janeiro-based Oi, which has about 50 billion reais in debt ($14.5 ...

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• 18 June

  US airlines miss cheapest jet fuel prices in 12 years

  

    New York / Bloomberg The biggest US airlines missed their chance to lock in the cheapest energy costs in more than 12 years after jet fuel surged as much as 80 percent since January. The fuel on the US Gulf Coast was trading at $1.37 a gallon on Friday, up from less than 80 cents on January 20, the ...

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• 18 June

  HAL’s trainer aircraft makes maiden flight

  

    Bengaluru / Tribune News Service Hindustan Aeronautics Limited’s (HAL) Basic Trainer Aircraft, the HTT-40, made its maiden flight, just three years since its design phase, a record of sorts for the public sector company which has otherwise been associated with long delays in aircraft development. Built at a cost of Rs.350 crore, the HTT-40 will help the Indian Air ...

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• 18 June

  Apple to halt iPhone 6 sales in Beijing

  

    BEIJING / AP A Chinese regulator has ordered Apple Inc. to stop selling two versions of its iPhone 6 in Beijing after finding they look too much like a competitor, but Apple says sales are going ahead while it appeals. The ruling by an intellectual property tribunal is the latest legal stumbling block for Apple in its second-biggest global ...

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• 18 June

  Tesco to sell £217mn Dobbies garden chain

  

    London / Bloomberg Tesco Plc agreed to sell its Dobbies Garden Centres chain for 217 million pounds ($309 million) as the U.K.’s biggest retailer continues to sell peripheral assets to focus on reviving its main supermarket business. Dobbies, which operates 35 garden-center stores across Scotland, England and Northern Ireland, will be bought by an investor group led by Midlothian ...

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• 18 June

  India plans to convert rural roads into runways

  

    New Delhi / Bloomberg India is proposing to convert some of its remote rural roads into runways, both for defense and commercial planes, as part of Prime Minister Narendra Modi’s plan to connect the nation’s 1.3 billion people. “We can close road traffic when a plane lands and open once the plane has taken off,” Nitin Gadkari, the transport ...

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• 18 June

  San Francisco’s realty mkt bursts at seams

  

    Bloomberg After four years of crammed open houses, heated competition and dizzying price gains that sent the median cost of a home to $1.2mn, San Francisco’s real estate market is starting to lose steam. The inventory of luxury homes is at a record high. A smaller share of deals have bidding wars. Rent growth for large and upscale apartments ...

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• 18 June

  US housing starts plunge 3% in May

  

    Bloomberg New-home construction in the U.S. was little changed in May, a sign the residential real-estate industry will add little to economic growth in the second quarter. Housing starts in May fell 0.3 percent to a 1.16 million annualized rate from a 1.17 million pace the prior month, a Commerce Department report showed in Washington. Progress in residential real ...

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• 18 June

  London realty market faces ‘major shock’ after tax rises

  

    Bloomberg London’s housing market is facing a “major shock” as private landlords offload properties because tax increases will reduce returns on their investments to near zero, according to analysts at Deutsche Bank AG. New lending rules will also severely restrict the ability of investors, who have accounted for about 40 percent of purchases in recent years, to fund property ...

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• 18 June

  China May home prices rise in fewer cities amid slower sales

    Bloomberg China’s home prices rose in fewer cities in May than the previous month, with gains in some second-tier locations surpassing those in Shanghai and Shenzhen. New-home prices excluding affordable homes climbed in 60 cities, down from 65 in April, among the 70 tracked by the government, the National Bureau of Statistics said on Saturday. They dropped in four ...

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