Consumer Discretionary

Women Mount Yes-We-Can Gender Campaign in Run-Up to EU Elections

There are more women in the European Union than men. But you wouldn’t know it from top jobs in the bloc’s business, politics or civil society. That’s what an activist group in Brussels wants to fix. With less than a year to go before EU legislative elections, Women Enablers Change Agent Network, or WECAN, on Tuesday plans to kick-start a campaign to push for women in top EU posts and on company boards. Women make up more than 51 percent of the EU’s population, and while there are advances, Europe has plenty more to do on gender equality, the group says. Its goal: to seek an irreversible breakthrough. Connie Hedegaard Photographer: Inga Kjer/Photothek via Getty Images “It’s about changing the mindset so that it’s a natural thing — whenever you have to make a decision about a position ...

California Agency Says Coffee Doesn’t Need a Cancer Warning

Starbucks Corp. and other coffee retailers are looking to get a reprieve in a legal battle over whether they need to post warnings in California that a cup of java contains chemicals known to cause cancer. The California Office of Environmental Health Hazard Assessment proposed Friday to exempt coffee from a state regulation that require businesses to warn consumers about carcinogens in their products. “OEHHA has determined that exposures to Proposition 65-listed chemicals in coffee that are produced as part of and inherent in the processes of roasting coffee beans and brewing coffee pose no significant risk of cancer,” the agency said. “The proposed regulation would clarify this determination.” Starbucks, Target Corp., 7-Eleven Inc. and Whole Foods Market are among dozens coffee makers an...

Trump Favors Little-Known Official to Be Next CFPB Chief

A little-known Office of Management and Budget official is President Donald Trump’s leading candidate to become permanent director of the Consumer Financial Protection Bureau, according to four people with knowledge of the matter. If approved by the Senate, Kathy Kraninger would succeed her boss, White House Budget Director Mick Mulvaney, who has been leading the bureau part time since November. The confirmation process could take months and Mulvaney has said he expects to be at the bureau until the end of the year. All About the CFPB, Washington’s New Flashpoint: QuickTake Q&A Kraninger, an associate director at OMB, previously worked for the Department of Homeland Security and the Senate Appropriations Committee. She would inherit an agency that has been roiled by a shift to Republic...

Park Strategies’ King, Arms Control’s Kimball on Trump-Kim Summit

11:00 Ira F Jersey Bloomberg Intelligence, Chief:US Interest Rate Strategist 11:00 Gina Martin Adams Bloomberg Intelligence, Chief Equity Strategist 11:10 Daniel Janis Manulife Asset Mgmt US LLC, Sr VP/Sr Mng Dir/Sr Portfolio Mgr 11:30 Jennifer Rie Bloomberg Intelligence, Senior Analyst:Litigation 11:30 Nabila Ahmed Bloomberg Editorial, Deals Reporter 12:00 David Donabedian Atlantic Trust Group Inc, Chief Investment Officer 12:00 Michael McKee Bloomberg Editorial, Economics Editor 12:15 Patrick Joseph Toomey “Pat” US Senate, Senator:Pennsylvania 12:20 Liam Denning Bloomberg Editorial, Bloomberg Opinion Columnist 12:30 Ravin Gandhi Corporate Director, CEO 12:40 Erik Gordon University of Michigan, Professor https://www.bloomberg.com/news/videos/2018-06-13/park-strategies-king-arm...

Trump Lands in Singapore to See If Gamble on Kim to Pay Off

President Donald Trump is about to see whether his bet on North Korea will pay off: that Kim Jong Un’s desire to end his country’s economic strangulation and pariah status will prevail over the dictator’s fear of relinquishing his nuclear threat. Trump and Kim have yet to agree even on how to define denuclearization of the Korean peninsula — the stated goal of the meeting. The president wants the complete, verifiable and irreversible dismantling of his nuclear weapons program. North Korea is seeking a security guarantee — possibly including a peace treaty formally ending the Korean War — and the removal of the U.S.’s nuclear umbrella protecting allies South Korea and Japan. Donald Trump disembarks from Air Force One at the Paya Lebar Air Base in Singapore, on June 10. Pho...

Man Detained By ICE After Delivering Pizza to Military Base in Brooklyn

New York (AP) — He went from delivering pizza to being detained by immigration officers. An Ecuadorean restaurant worker making a delivery to an Army garrison in Brooklyn wound up being detained June 1 after a routine background check at the gate revealed there was a warrant for his arrest for immigration law violations, officials said. Now, Pablo Villavicencio is in Immigration and Customs Enforcement custody pending removal from the country, ICE spokeswoman Rachael Yong Yow said. “Villavicencio-Calderon was detained by military police officers and turned over to ICE,” Yong Yow said. Villavicencio’s wife, Sandra Chica, said he went to deliver pizza to Fort Hamilton last week and was asked for identification by the guard who received him. Villavicencio, who worked a...

Billionaire Given Second Chance to Form Czech Government

President Milos Zeman gave the Czech Republic’s billionaire prime minister, Andrej Babis, a second shot at forming a majority-backed government on Wednesday, more than seven months after he won general elections. Babis is waiting for the Social Democrats, his former coalition allies, to decide whether they will join him in power again as other mainstream parties shun him because of an ongoing criminal probe. To muster a majority in parliament, Babis has also turned to the country’s Communists for tacit support, giving the anti-NATO party its biggest influence in politics since democracy was restored in 1989. Andrej Babis Photographer: Martin Divisek/Bloomberg Babis, who built his party’s popularity on vows to keep Muslim migrants out of the country and displace what he said were incompeten...

Sanchez’s Spanish Cabinet Sends Signal on Catalonia, Economy

Pedro Sanchez’s first cabinet appointments show Spain’s new prime minister seeking to assert his government’s identity and authority by naming Catalans and women with heavyweight credentials to key posts. He named European Commission Director General Nadia Calvino as economy minister and Carmen Calvo, a constitutional lawyer, as deputy prime minister. Meritxell Batet, a Catalan, will be in charge of the regional administrations ministry and Josep Borrell, a Catalan-born former President of the European Parliament, will be foreign minister. The appointments show Sanchez laying out his credentials to be credible on the economy — a strong suit for his predecessor Mariano Rajoy — and enforcing the rule of law in Catalonia. His choice of cabinet, which will contain at least eight wo...

Giuliani Says Trump Couldn’t End Investigation of Any Crime

Donald Trump’s lawyer, Rudy Giuliani, signaled Sunday that the president’s authority to influence a law enforcement investigation into himself is broad, if not quite unlimited. The New York Times published two letters from Trump’s legal team to Special Counsel Robert Mueller, arguing that the president couldn’t obstruct the investigation into Russian interference because he has the power to terminate the probe or pardon those caught up in it. The January letters were sent before Giuliani joined Trump’s legal team. Giuliani said on NBC’s “Meet the Press” that he agreed “with about 80 percent of what” appears in the letters and suggested he mostly disagreed with them on a strategic level because “constitutionally it sure looks” as if the president can end any inquiry. In a separate interview...

‘Step Up Soon’ on Underage Vaping, FDA Chief Tells Tobacco Firms

Tobacco companies need to step up efforts to stop kids from vaping, according to a warning from U.S. Food and Drug Administration Commissioner Scott Gottlieb. The comments are the latest in a series of FDA efforts to crack down on companies that are producing e-cigarettes and selling them to minors. E-cigs like the products made by Juul Labs Inc. are the newest craze in underage tobacco use as youth smoking rates of combustible cigarettes hover around historic lows. Scott Gottlieb Photographer: Toya Sarno Jordan/Bloomberg Tobacco companies shouldn’t build businesses that rely on getting kids hooked to nicotine, Gottlieb said in prepared remarks at the American Society of Clinical Oncology’s annual meeting in Chicago. Instead, companies need to help address the problem. “They better step up...

This Financier Became a Fed Power Player—From the Inside and Outside

John Williams has fans at the Hutchins Center on Fiscal and Monetary Policy, part of the Brookings Institution think tank in Washington. When news leaked in March that he was the front-runner to lead the Federal Reserve Bank of New York, the group’s director, David Wessel, immediately lauded the potential move in an emailed reply to a reporter. When the formal announcement was made a week later, former Fed Chair Janet Yellen, an affiliate of the center, issued a glowing press release. Brookings posted an article detailing his contributions to the think tank. Williams’s promotion from San Francisco district president was important for the Fed, because the New York chief is among the most powerful central bankers in the world. It was a big moment for the Hutchins Center, because Williams is ...

Japan’s Abe Hits Back at Trump’s Plan to Slap Tariffs on Ally

Japanese Prime Minister Shinzo Abe hit back at U.S. President Donald Trump’s push to impose higher tariffs on imported vehicles and metals. “We can’t accept this,” Abe said in parliament on Wednesday in response to a question on the already-in-place metal tariffs and the possible introduction of new levies on cars. “From a security perspective, it’s very difficult to understand why this would be imposed on Japan, a military ally.” Shinzo Abe Photographer: Tomohiro Ohsumi/Bloomberg Trump’s order last week to investigate auto imports for potential trade penalties on national security grounds came as a surprise and quickly drew opposition from the industry, Republican lawmakers and foreign nations. The tariffs, which could be as high as 25 percent, would hurt Japan’s a...