Bloomberg Indonesia’s central bank is taking “bold” steps to guard the nation’s currency and bonds as mounting concerns about the economic impact of the novel coronavirus epidemic trigger a selloff by foreign investors. Bank Indonesia is intervening in the bond, currency and non-deliverable forwards markets to protect the rupiah, Nanang Hendarsah, the central bank’s executive director for monetary management, said ...

Bloomberg Credit Suisse targeted Greenpeace after the environmental group staged a dramatic protest at one of the bank’s events, according to newspaper Sonntagszeitung. After the group’s activists abseiled from the ceiling and unfurled a banner over the podium at the annual shareholder meeting in 2017, Credit Suisse got on Greenpeace’s e-mail distribution list of upcoming protests. The bank then set ...

Bloomberg The pound is back in the doldrums after reports that Prime Minister Boris Johnson will effectively threaten to walk away from negotiations with the European Union without a formal trade deal. Sterling fell more than 1% to lead losses among Group-of-10 currencies, wiping out last week’s advance. The EU’s chief negotiator Michel Barnier is also setting out his planned ...

Bloomberg Citigroup Inc slashed its price forecasts for commodities from oil to copper and iron ore as it said the impact of the coronavirus looks much worse than it initially thought. Oil came in for the most severe downgrades, with the bank cutting estimates for the first three quarters. Citi also reduced its first-quarter copper projection by almost a fifth, ...

Bloomberg Competition for ownership of Indian shadow bank Altico Capital India Ltd has revived with the re-entry of Cerberus Capital Management LP into the race. New York-based hedge fund Cerberus submitted a bid for ailing Altico last week, after getting an extension from an initial deadline in the previous week, said people familiar with the matter. The creditor-run debt restructuring ...

Bloomberg Reynolds Consumer Products Inc, the maker of Reynolds Wrap aluminum foil and Hefty trash bags, rose 9.8% in its trading debut after raising $1.23 billion in the biggest initial public offering by a household goods maker. Reynolds, backed by New Zealand billionaire Graeme Hart’s Rank Group, sold 47.17 million shares for $26 each after marketing them for $25 to ...

Bloomberg Ryanair Holdings Plc said demand for air travel within Europe could receive an unlikely boost if the Chinese coronavirus epidemic persists, prompting people to holiday closer to home. Trends from 2003, when travellers shunned Asia after the Severe Acute Respiratory Syndrome (Sars) outbreak, suggest consumers may begin to alter their travel habits, Ryanair Chief Financial Officer Neil Sorahan said. ...

Bloomberg Levi Strauss & Co’s profitability rose in its latest quarter, with the jeans maker citing higher prices and fewer sales to off-price retailers. The company also reported continuing weakness in its US wholesale business, however. The shares alternated between losses and gains in late trading. Gross margin, a key gauge of profitability, rose 1.1 percentage point from a year ...

Bloomberg Intu Properties Plc has written down the value of one of the UK’s largest malls, offering a glimpse at its parlous finances ahead of a planned equity raise. The company notified holders of 485 million pounds ($631 million) of bonds secured against Intu Metrocentre, a large mall in northeast England, that the debt secured against the property now accounts ...

Bloomberg Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, has lost nearly a third of its value since the outbreak of the coronavirus. However, at least one analyst maintains this may be just a blip for the company. The upstart has closed all of its coffee shops in Wuhan, the capital of the Hubei province and the epicenter of ...