September, 2020

• 23 September

  Rolls-Royce hits 17-year low as slump deepens for airlines

  

  Bloomberg Rolls-Royce Holdings Plc fell to its lowest in 17 years after detailing a plan to raise as much as 2.5 billion pounds ($3.2 billion) to brace against a drought in demand for aircraft engines. Shares of the UK company slid for a fifth straight session on September 21, dropping as much as 12% after saying two days earlier it’s …

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• 23 September

  Transat’s shares sink to 8-year low over takeover

  Bloomberg Transat AT Inc, hit hard by the coronavirus pandemic, dropped to an eight-year low as investors bet against a travel recovery and the completion of a takeover by Air Canada. Shares of Montreal-based Transat have slumped every trading day this month except one. The stock’s 13-session losing streak is its longest since 2008. Transat has lost about C$475 million …

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• 23 September

  FedEx seeks to add small cargo jets

  Bloomberg FedEx Corp is looking at using small self-flying cargo planes to serve remote areas after experimenting with a technology startup on autonomous aircraft, said Chief Executive Officer Fred Smith. The effort builds on the courier’s work with Silicon Valley’s Reliable Robotics, which was founded by veterans of Elon Musk’s Space Exploration Technologies Corp. With approval from the US Federal …

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• 23 September

  JPMorgan to move $230 billion assets to Germany in Brexit shift

  

  Bloomberg JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. The US bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of …

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• 23 September

  Goldman, HSBC halt London office return after Johnson plea

  

  Bloomberg Banks from Goldman Sachs Group Inc. to HSBC Holdings Plc have hit pause on plans to return workers in London after Prime Minister Boris Johnson appealed to Britons to work from home to help tame a resurgent coronavirus. Goldman Sachs is encouraging its London employees to go back to working remotely if possible, though its Plumtree Court office will …

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• 23 September

  Thailand holds rate at record low with spotlight on fiscal steps

  

  Bloomberg The Bank of Thailand held its benchmark interest rate unchanged for a third straight meeting to save its limited policy space, allowing fiscal policy to take the lead in reviving an economy headed for its worst annual performance ever. The central bank kept the policy rate unchanged on Wednesday at 0.5% in a unanimous decision, after lowering rates three …

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• 23 September

  RBNZ may launch new stimulus tool this year

  

  Bloomberg New Zealand’s central bank said it may launch a new stimulus tool this year to further reduce borrowing costs, a precursor to taking interest rates negative in 2021. The Monetary Policy Committee favours introducing a Funding for Lending Program for banks “before the end of 2020,” the Reserve Bank said on Wednesday in Wellington after holding the official cash …

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• 23 September

  RBI won’t allow big rupee gains despite high CPI: ICICI

  

  Bloomberg India’s central bank will continue to intervene to prevent any sharp appreciation in the rupee, even after signs of leniency towards currency gains in recent weeks, according to ICICI Bank Ltd. The Reserve Bank of India’s (RBI) forex strategy has been in sharp focus after it stepped away from dogged dollar buying amid large inflows. The perception that the …

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• 23 September

  Credit Suisse CEO sees slowdown at wealth unit

  Bloomberg Credit Suisse Group AG Chief Executive Officer (CEO) Thomas Gottstein said he expects the wealth management business to slow down in the third quarter while revenue and trading will keep pace with earlier this year. Speaking at a virtual Bank of America Corp. conference, the CEO said he expects banking consolidation to pick up, but cautioned that international deals …

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• 23 September

  European stocks climb with futures; dollar extends rally

  

  Bloomberg European stocks bounded higher with US futures as equity markets built upward momentum after the September selloff cut valuations. The dollar extended its rebound. The Stoxx Europe 600 rises the most in two weeks on gains in airline, media and auto shares. Contracts on the blue-chip Dow Jones Industrial Average outperformed those on the Nasdaq 100 as investors turned …

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