February, 2020

• 1 February

  India in talks with nine firms for flag carrier sale

  

  Bloomberg Indian officials met with as many as nine companies during roadshows to gauge interest in a stake sale in the nation’s loss-making flag carrier, people with knowledge of the matter said. Officials from the South Asian nation met executives of companies including British Airways parent IAG SA, IndiGo, India’s biggest airline that’s operated by InterGlobe Aviation Ltd, SpiceJet Ltd ...

  Read More »
• 1 February

  Coronavirus seen pushing some weakest carriers out of business

  

  Bloomberg The fast-spreading coronavirus could spell the end for the weakest airlines as travel demand dries up in and out of China. The outbreak, which originated in the Chinese city Wuhan, has claimed 200 lives. Total infections have soared past 11,700 in China, surpassing the country’s official number from the 2003 Sars epidemic. Sars cost the global economy an estimated ...

  Read More »
• 1 February

  H&M family stung by stock hands leadership to new CEO

  Bloomberg Hennes & Mauritz AB appointed Helena Helmersson as the first female chief executive officer of the fast-fashion pioneer, taking over from founding family scion Karl-Johan Persson, who struggled to contain competition from cheaper rivals and online platforms that revolutionised shopping. Helmersson was previously head of operations, and Persson moves to the supervisory board after more than a decade, where ...

  Read More »
• 1 February

  Swatch drops to lowest in a decade over virus

  Bloomberg Swatch Group fell to the lowest in a decade as Switzerland’s largest watchmaker faces a triple whammy from Hong Kong protests, competition with smartwatches and viral outbreak in China. Operating profit fell for the first time in three years, dropping 11% to $1.1 billion. Analysts expected 1.09 billion francs. The shares fell as much as 4.1% on January 30. ...

  Read More »

January, 2020

• 29 January

  Boeing says total costs for 737 Max to surpass $18bn

  

  Bloomberg Boeing Co. closed the financial books on a tragic and tumultuous 2019 by revealing that total costs for its grounded 737 Max will surpass $18 billion when the tab for restarting production later this year is included. The planemaker is taking a $2.6 billion pretax writedown to compensate airlines for ballooning losses from a global flying ban that’s expected ...

  Read More »
• 29 January

  UK house prices jump after Johnson’s victory

  Bloomberg UK house prices jumped the most in more than a year in January, according to Nationwide Building Society. Values rose 1.9% from a year earlier, the most since November 2018, the mortgage lender said on Wednesday. From December, prices increased 0.5%. The UK housing market is showing signs of life after Boris Johnson’s decisive election victory brought about a ...

  Read More »
• 29 January

  Stocks climb with focus shifting to earnings, Fed

  

  Bloomberg US equity futures climbed along with stocks in Europe as corporate earnings and the Federal Reserve rates decision on Wednesday gave investors a fresh focus while concerns linger over the deadly coronavirus. Treasuries gained with most European bonds. Mining and construction shares led the Stoxx Europe 600 index higher, with 17 of 19 industry sectors in the green. Contracts ...

  Read More »
• 29 January

  Haven currencies show virus fears may have peaked

  

  Bloomberg There are signs that concern in the global foreign exchange market over the deadly coronavirus may be wearing off. Haven currency the Swiss franc slipped to nearly a three-week low against the dollar on Wednesday, even as the virus spread further. The Japanese yen, another traditional refuge, has failed to gain since Hong Kong initiated travel bans, while the ...

  Read More »
• 29 January

  WTO needs makeover to stay relevant, says ECB’s De Cos

  

  Bloomberg Multilateral institutions such as the World Trade Organization (WTO) need an urgent revamp in order to remain relevant, European Central Bank (ECB) policymaker Pablo Hernandez de Cos said. European Union officials, he said, are the best placed to undertake that rethink. “One of the biggest challenges confronting the WTO and, in general, the system of international institutions, is how ...

  Read More »
• 29 January

  ‘Italy set for more debt and stagnation without reforms’

  

  Bloomberg Italy’s crippling public debt is set to keep expanding amid chronically low economically growth, the International Monetary Fund (IMF) said. Saddled with Europe’s largest debt burden, the country has benefited from the European Central Bank’s expansionary monetary policy and a period of relative political stability to bring down yields. But its interest costs are still higher than its economic ...

  Read More »