Bloomberg India is considering an option to raise $10 billion in one go from its first overseas bond sale as early as October, according to people with knowledge of the matter. The government would prefer to sell yen or euro-denominated debt so as to offer lower yields. A dollar bond isn’t ruled out given there would be more liquidity, while …
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Trade war and US shale to keep lid on oil: Indian refiner
Bloomberg The US-China trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners. Brent crude will likely remain in a range of $60 to $70 a barrel and could fall towards $60 if demand worsens, said Mukesh Kumar Sura-na, the chairman …
Read More »Stocks turn mixed on results, Treasuries gain with bonds
Bloomberg US stocks were mixed as investors mulled weak economic data and mixed corporate results, including an unexpected quarterly loss for Boeing. Treasuries advanced along with bonds in Europe. In addition to Boeing, Caterpillar weighed on the Dow Jones Industrial Average after the equipment maker projected earnings at the low end of forecasts. UPS helped to keep the S&P 500 …
Read More »Health insurers sink as rising spending gauge alarms investors
Bloomberg Health-insurance stocks sank across the board after Anthem Inc became the third insurer to report it is paying out a higher percentage of the premiums it takes in to cover patients’ medical claims. Investors watch the so-called medical-loss ratio reported by health insurers closely. The number is a key measure of the companies’ financial health; when the ratio goes …
Read More »Deutsche turnaround fizzles as lower rates loom longer
Bloomberg Just a few weeks into Deutsche Bank AG’s biggest restructuring yet, the complications are already starting. Germany’s largest lender posted the worst second-quarter trading result of the big Wall Street banks. The bottom line was below expectations after a $3.8 billion restructuring charge. In an interview with Bloomberg Television, finance chief James von Moltke signaled that some turnaround targets …
Read More »EU lenders may face tough laundering rules
Bloomberg European Union (EU) officials called for a further tightening of the bloc’s anti-money laundering rules after identifying a host of failures that led to scandals across the financial system. Banks at times completely ignored requirements to stop illicit financial flows and supervisors were ill-equipped and often slow to deal with the issues, the European Commission said on Wednesday. Handing …
Read More »Bill Evans sees RBA cutting to 0.5%, possible extra measures
Bloomberg Australia’s central bank will lower interest rates twice more and could adopt a package with the second easing to allow lenders to pass on the reduction in full, Westpac Banking Corp Chief Economist Bill Evans said. Evans brought forward his forecast for the next cut to October from November — saying by then the labour market will have deteriorated …
Read More »Standard Life, Lloyds settle ‘fund row’
Bloomberg Lloyds Banking Group Plc and Standard Life Aberdeen Plc have reached a settlement in what was one of the most high-profile disputes in the UK fund management industry’s history. Lloyds, which wanted to pull a 104 billion-pound ($129 billion) mandate, will pay the asset manager 140 million pounds in cash as compensation, according to a statement from Standard Life. …
Read More »Return to easy money poised to slam banks in US, Europe
Bloomberg As policy makers globally prepare to cut borrowing costs again, banks around the world are feeling the heat. Rock-bottom interest rates can help stoke growth, but they also put the squeeze on lending margins. Big US banks including JPMorgan Chase & Co and Citigroup Inc, which reported second-quarter earnings, are already seeing the revenue impact of declining interest rates …
Read More »JetBlue’s ‘disappointed’ CFO jabs Airbus on A321 delays
Bloomberg JetBlue Airways Corpexpressed dismay with Airbus SE after the US carrier learned it will get less than half the A321neo jets it was expecting this year because of production snarls that are delaying deliveries of the European planemaker’s biggest single-aisle model. The New York-based airline will get a maximum of six of the aircraft this year, compared with the …
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