February, 2020

• 22 February

  Apple may let users switch iPhone apps to rivals

  

  Bloomberg Apple Inc is considering giving rival apps more prominence on iPhones and iPads and opening its HomePod speaker to third-party music services after criticism the company provides an unfair advantage to its in-house products. The technology giant is discussing whether to let users choose third-party web browser and mail applications as their default options on Apple’s mobile devices, replacing …

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• 22 February

  UK’s plug-in hybrid van targets delivery firms to plumbers

  

  Bloomberg The maker of Britain’s iconic black cabs is building a plug-in hybrid van that can travel for 377 miles without recharging or filling up, in a bid to win over long-distance delivery firms and other companies that rely on purely gasoline vehicles. London Electric Vehicle Co is targeting high-mileage fleets at firms such as Royal Mail Plc and utilities …

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• 22 February

  Airline Wi-Fi that actually works is coming soon

  

  Bloomberg Air travel and glitch-free internet access are often considered mutually exclusive, thanks to the technical difficulties associated with making Wi-Fi work at 40,000 feet. For the airlines, a satisfying online experience is even more elusive. The hardware, software, maintenance and inability to easily switch service providers combine for a very expensive headache. But there may be some good news …

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• 22 February

  ECB’s Lane expects euro-area economic rebound from virus

  

  Bloomberg The European Central Bank (ECB) expects the euro-area economy to bounce back from the coronavirus outbreak, Chief Economist Philip Lane said, playing down concerns that the region could slip into a downturn that requires another interest-rate cut. Speaking in an interview with Bloomberg TV in New York, Lane acknowledged that the full impact of the disease remains unknown, and …

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• 22 February

  Fed’s Brainard calls for new strategy to reach inflation goal

  

  Bloomberg Federal Reserve Governor Lael Brainard called for the adoption of new strategies by the central bank to achieve its 2% inflation goal and fight off future recessions. The Fed should seek above-target price gains to make up for past inflation shortfalls and should cap Treasury debt yields if it’s forced to lower short-term rates as far as they can …

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• 22 February

  Canada’s RBC planning to start direct-to-consumer bank in US

  

  Bloomberg Royal Bank of Canada (RBC) plans to start a new “direct-to-consumer” business in the US to increase deposits and ultimately broaden out its offerings to a more mainstream clientele. The expansion is likely to come at the end of 2020 or early next year, and will be focused initially on higher-net-worth customers, Chief Executive Officer David McKay said during …

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• 22 February

  Yen not losing haven status: BOJ’s Kuroda

  

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda shrugged off speculation that the yen is losing its status as a safe asset and blamed its depreciation on the dollar. “I don’t think there has been a fundamental change in the situation of foreign-exchange rates,” Kuroda told reporters on Saturday in Riyadh, where he is attending a Group of 20 meeting. …

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• 22 February

  JPMorgan, United Airlines renew credit-card deal into 2029

  

  Bloomberg United Airlines Holdings Inc and JPMorgan Chase & Co renewed their long-time credit-card partnership through 2029, capping months of negotiations. The new deal, and an amended pact with Visa, gives United an extra $400 million this year, according to a regulatory filing by the airline. United declined to provide additional details on the financial impact of the agreement. Revamping …

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• 22 February

  Hindujas, Cerberus partner to bid for Yes Bank stake

  Bloomberg Hinduja Group Ltd is partnering with private equity firm Cerberus Capital Management LP in seeking to pick up a stake in embattled Yes Bank Ltd, according to people familiar with the matter. Representatives of Cerberus and the UK-based Hinduja group, run by brothers Gopichand Hinduja and Ashok Hinduja, met Reserve Bank of India officials earlier this month regarding the …

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• 22 February

  Air France-KLM warns of $216m hit from China virus

  

  Bloomberg Air France-KLM warned the coronavirus outbreak will wipe as much as 200 million euros ($216 million) from earnings, hammering home the financial impact of the crisis even thousands of miles from its epicenter in China. The estimate includes losses from halting flights to the Asian nation this month and next, and assumes that services will resume in April, the …

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