21 June

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In Indonesian banking, rise in religious conservatism ripples across sector By Reuters

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By Gayatri Suroyo and Tabita Diela JAKARTA (Reuters) - A rise in religious conservatism in Indonesia is drawing talent away from what some view as un-Islamic jobs in banking, industry professionals say, creating hiring woes for conventional banks but a boon for the country's fledgling sharia finance sector. The trend comes amid broader societal change in the world's biggest Muslim-majority country, driven by millions of young, 'born-again' Muslims embracing stricter interpretations of Islam. [https://reut.rs/3aMab6D] Reuters spoke to a dozen industry sources over how concern about Islamic law barring exploitative interest payments, known as "riba", is...

21 June

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Exclusive: Adviser to jailed HK tycoon Jimmy Lai says Apple Daily to shut within days By Reuters

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HONG KONG, (Reuters) - Hong Kong pro-democracy newspaper Apple (NASDAQ:AAPL) Daily will be forced to shut "in a matter of days" after authorities froze the company's assets under a new national security law, an adviser to jailed tycoon Jimmy Lai told Reuters on Monday. Mark Simon, speaking by phone from the United States, said the company has no more access to funds and it plans to hold a board meeting on Monday to discuss how to move forward. ...

21 June

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UK launches plan to capitalise on science and technology breakthroughs By Reuters

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LONDON (Reuters) - Prime Minister Boris Johnson said he would lead a new drive to capitalise on scientific and technological breakthroughs made in Britain with a programme to direct research into areas that will benefit the public good. Johnson will chair a group set up to "provide strategic direction on the use of science and technology as the tools to tackle great societal challenges, level up across the country and boost prosperity around the world", his office said. Seeking strategic gains for post-Brexit Britain, the plan looks to build on the success of the country's coronavirus...

20 June

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CD&R set to continue pursuit of UK’s Morrisons, FT says By Reuters

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(Reuters) - U.S. private equity firm Clayton, Dubilier & Rice (CD&R) is set to push ahead with its pursuit of British supermarket chain Morrisons despite its initial offer being rejected, the Financial Times reported on Sunday. CD&R now plans to wait to gauge investor reaction and signs of any political pushback before deciding on its next steps, the newspaper reported, citing people familiar with the discussions. Morrisons had rejected a proposed 5.52 billion pound ($7.62 billion) cash offer from CD&R on Saturday, saying it was far too low. ...

20 June

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Pershing Square signs deal to buy 10% of Vivendi’s Universal – statement By Reuters

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PARIS (Reuters) - Vivendi (PA:VIV), controlled by French billionaire Vincent Bollore, said on Sunday it had signed a deal to sell 10% of Universal Music Group (UMG) to Pershing Square (NYSE:SQ) Tontine Holdings. "After the 20% equity stake acquired by the Consortium led by the Tencent (HK:0700) group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness," Vivendi said in a statement. "As announced, the transaction is based on an enterprise value of 35 billion euros for 100% of UMG’s share capital." Vivendi is planning...

20 June

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ECB makes good progress on new strategy, Lagarde says By Reuters

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FRANKFURT (Reuters) -European Central Bank policymakers meeting this weekend made "good progress" in reshaping the ECB's strategic goals, including the role it plays in fighting climate change and a revised approach to inflation, President Christine Lagarde said on Sunday. The 25 members of the ECB's Governing Council gathered in a hotel near Frankfurt to add impetus to the bank's first review of its approach to monetary policy in nearly two decades, which it aims to conclude in the second half of the year. Lagarde gave no detail of the outcome of the talks, saying only that...

20 June

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Italy, hosting G20, will call for tougher ‘gig economy’ rules By Reuters

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ROME (Reuters) - Italy will call for tougher rules governing 'gig economy' workers when it hosts labour ministers of the world's biggest economies in the Group of 20 next week. Italy's labour minister, Andrea Orlando, said countries should require big companies such as Amazon (NASDAQ:AMZN) to take responsibility for working conditions at their suppliers, as part of reforms to ensure contractors are well-treated. "Large corporations must also take responsibility for small ones. They can no longer say that what happens outside their sheds does not concern them," Orlando was quoted as saying by Italian daily La...

20 June

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Boeing to use anti-jamming system from Israel’s Elbit in F-15s By Reuters

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JERUSALEM (Reuters) - Boeing (NYSE:BA) said on Sunday it will integrate an anti-jamming system developed by Israel's Elbit Systems into a fleet of F-15 fighter jets to be sold to an unnamed customer. Elbit's Immune Satellite Navigation System ensures uninterrupted GPS operation, providing full jamming immunity for multiple satellite channels and can handle multiple interfering signals, the company said in a statement issued in Tel Aviv. Financial details were not disclosed. Lauren Gramlich, director for international F-15 programs at Boeing, said Elbit's system, "will meet the demanding operational requirements of this valued customer, and demonstrates...

20 June

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Hong Kong’s Apple Daily says only has cash for few weeks after assets frozen By Reuters

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HONG KONG (Reuters) - Hong Kong's pro-democracy tabloid Apple (NASDAQ:AAPL) Daily said on Sunday the freezing of its assets in a national security probe had left the newspaper with cash for "only a few weeks" of normal operations and it may struggle to pay staff wages. The newspaper, whose chief editor and chief executive have been detained under the new security law and whose offices were raided by 500 police officers on Thursday, said the announcement was made in a management meeting on Friday. Three companies related to Apple Daily are also being prosecuted for collusion...

20 June

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Porsche to set up joint venture with German battery maker By Reuters

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FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p)'s luxury sports car unit Porsche AG is setting up a joint venture with Customcells to produce high-performance batteries that will significantly reduce charging times, the company said on Sunday. The partnership with Customcells, a company in southern Germany specialising in lithium-ion cells, will aim to produce car batteries with higher energy density than prototypes used in Porsche's current electric cars, the company said in a statement. European carmakers are pushing to reduce their dependence on Asia for batteries as they roll out all-electric models to meet stricter emissions targets in the...

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In Indonesian banking, rise in religious conservatism ripples across sector By Reuters

Exclusive: Adviser to jailed HK tycoon Jimmy Lai says Apple Daily to shut within days By Reuters

UK launches plan to capitalise on science and technology breakthroughs By Reuters

CD&R set to continue pursuit of UK’s Morrisons, FT says By Reuters

Pershing Square signs deal to buy 10% of Vivendi’s Universal – statement By Reuters

ECB makes good progress on new strategy, Lagarde says By Reuters

Italy, hosting G20, will call for tougher ‘gig economy’ rules By Reuters

Boeing to use anti-jamming system from Israel’s Elbit in F-15s By Reuters

Hong Kong’s Apple Daily says only has cash for few weeks after assets frozen By Reuters

Porsche to set up joint venture with German battery maker By Reuters

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