China's FedEx probe should not be seen as retaliation: Xinhua

China's investigation into FedEx Corp over misdirected mail should not be regarded as retaliation against the U.S. company, state news agency Xinhua said on Sunday, amid worsening relations between China and the United States. The inquiry was aimed at sending a message that any economic entity in China should abide by the country's laws and regulations, it said in a commentary. "China is willing to share the opportunities in its courier market with foreign investors.

Russell Rebalancing Expected to Boost Recent IPOs

This year's realignment will see close to $1 billion pumped into newly-minted stocks from recent IPOs, as funds that track the Russell benchmarks will need to buy over $326 million worth of Uber stock, $93 million of Lyft, $67 million of Beyond Meat and $26 million of PagerDuty, according to Min Moon, a managing director at J.P. Morgan Chase & Co. quoted by the Journal. Another $400 million worth of 20 other recent IPOs will also be added to the Russell 2000 index, which is comprised of smaller companies. With such large sums of cash being shifted in and out of different stocks, prices tend to move around a bit as well.

What You Need to Know About Capital-Gains Taxes (but Probably Don’t)

The law is a lot more complicated than many people think.

Alibaba proposes one-to-eight stock split ahead of up to $20 billion HK listing

China's Alibaba Group Holding has proposed a one-to-eight stock split ahead of a listing in Hong Kong later this year that is expected to raise up to $20 billion. The split, to be presented to shareholders for a vote at an annual general meeting in Hong Kong on July 15, will increase flexibility in the firm's capital raising activities, including the issuance of new shares, the e-commerce giant said. The firm's board recommends shareholders to vote in favour of the proposal, it added in its statement dated Friday but published on the company's website on Monday.

• Alibaba proposes stock split ahead of Hong Kong listing

  Financial Times
• Alibaba Plans Stock Split as It Preps Giant Listing

  Bloomberg

Huawei Braces for 40-60% Drop in Overseas Smartphone Sales

Huawei Technologies Co. is preparing for a 40% to 60% drop in international smartphone shipments as the Trump administration's blacklisting hammers one of the Chinese tech giant's most important businesses. Selina Wang reports on "Bloomberg Daybreak: Asia."

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  Huawei CEO says underestimated impact of U.S. ban, sees revenue dip

  Reuters
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  US ban on Huawei may wipe out $30 billion in revenues over the next 2 years, warns founder

  The Telegraph

Here's the secret for living longer and loving retirement

Early retirement is a popular dream with a whole movement devoted to it: FIRE, or financial independence, retire early. A December 2017 paper by Professors Maria D. Fitzpatrick and Timothy J. Moore for the National Bureau of Economic Research showed male mortality rates rose 2% starting the month men turn 62.

Did the Markets Break Jerome Powell? We’re About to Find Out

This week's Federal Reserve decision will be the most consequential one yet under the leadership of Chair Jerome Powell. Sure, Fed officials will almost certainly leave interest rates unchanged, and they won't do anything with the central bank's balance sheet beyond what they have previously indicated. But the move in financial markets has been so swift, with traders so convinced that policy makers will lower interest rates imminently, that every change in their statement's wording, every syllable uttered by Powell during his press conference, and any tweak in the “dot plot” will be scrutinized as much as ever.

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  A surprise interest-rate cut by the Federal Reserve could be its best decision

  MarketWatch
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  Global shares mixed as investors look ahead to Fed rates

  Associated Press

China Government Bonds Favored, Deutsche Bank's Liu Says

Linan Liu, Greater China rates and foreign exchange strategist at Deutsche Bank, talks about the Chinese economy, policies and bonds. She speaks on "Bloomberg Markets: China Open."

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  Deutsche Bank Weighs Up to $56 Billion Bad-Bank Unit, FT Reports

  Bloomberg
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  Deutsche Bank to set up 50 billion euro bad bank

  Reuters

Huawei CEO says underestimated impact of U.S. ban, sees revenue dip

Huawei Technologies Co Ltd's founder and CEO Ren Zhengfei said the impact of a U.S. ban on the Chinese company was more severe than expected and warned that revenue would dip to around $100 billion this year and the next. This is the first time that Huawei has quantified the impact of the U.S. action against the company and Ren's downbeat assessment comes after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient. Huawei had not expected that U.S. determination to "crack" the company would be "so strong and so pervasive", Ren said, speaking at the company's Shenzhen headquarters on Monday.

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  Huawei prepares for 40%-60% fall in international smartphone shipments: Bloomberg

  Reuters
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  Huawei Braces for Phone Sales Drop of Up to 60 Million Overseas

  Bloomberg

This New York-listed Chinese electric carmaker’s flagship vehicle keeps catching fire

Even though electric vehicles are less likely to catch fire than gasoline-powered cars, cases of EVs bursting into flames are nonetheless unsettling—especially when they happen to prominent companies like California carmaker Tesla and New York-listed Chinese car brand NIO. NIO's flagship battery sports utility vehicle ES8 caught fire in China's central Wuhan city on Friday afternoon (June 14), local newspaper Chutian Metropolis Daily (link in Chinese) reported. A witness at the scene told the newspaper he saw black smoke and fire coming from the seven-seater's chassis, while firefighters said there was a small explosion when they tried to put out the fire.

CEO: Boeing made mistake in handling warning-system problem

The chief executive of Boeing said the company made a "mistake" in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people, and he promised transparency as the aircraft maker works to get the grounded plane back in flight. Speaking before the industry-wide Paris Air Show, Boeing CEO Dennis Muilenburg told reporters Boeing's communication with regulators, customers and the public "was not consistent. The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn't work as intended.

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  Boeing 737 Max: Ethiopian Airlines boss rejects US blame on pilots

  The Independent
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  Profit over safety? Boeing under fire over 737 Max crashes as families demand answers

  The Guardian

VW's $2 Billion Truck IPO Reflects Push to Trim the Empire

For decades, the world's biggest carmaker only knew how to expand -- adding Bentley luxury cruisers, Ducati racing bikes and Scania heavy trucks while taking its network of factories well past the 100 mark and its headcount over 640,000. Now with the pace of change in the auto industry quickening, Volkswagen is trying its hand at trimming the empire. If the listing of a minority stake in Traton SE -- a truck and bus maker with three vehicle brands and valued at as much as 16.5 billion euros ($18.5 billion)-- goes well, it would give Chief Executive Officer Herbert Diess more sway to balance the often diverging interests of VW shareholders including the Porsche and Piech owner family, Lower Saxony and powerful labor unions.