November, 2019

• 23 November

  Target climbs to record high on sales beat, raised forecast

  

  Bloomberg Target Corp reached a record high after raising its full-year outlook again on strong sales and profitability, providing a safe haven after several retailers unnerved investors. Third-quarter comparable sales, a key retail metric, rose 4.5%, a full percentage point above what analysts polled by Consensus Metrix had projected. Profit this year excluding some items will be between $6.25 and …

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• 20 November

  UAE underscores importance of tolerance in reconciliation efforts

  

  NEW YORK / WAM The UAE underscored the importance of tolerance and dialogue in reconciliation efforts and affirmed the UAE’s commitment to promoting peaceful coexistence and political solutions to address global challenges, during the UN Security Council Open Debate on peacebuilding and sustaining peace specifically the role of reconciliation. “The UAE has always been keen on promoting the principles of …

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• 20 November

  Emirates to get 30 Boeing 787 Dreamliners worth AED32.3b

  

  Dubai / Emirates Business Emirates, the world’s largest international airline, on Wednesday announced that it has signed a full purchase agreement for 30 Boeing 787-9 aircraft, worth AED32.3 billion ($ 8.8 billion) at list prices, at the Dubai Airshow 2019. Under its agreement with Boeing, Emirates has exercised its right to substitute the B777x with B787s. This deal includes Boeing …

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• 20 November

  India’s beaten-down telcos soar on easing price war

  

  Bloomberg A week after Vodafone Group Plc’s chief executive suggested the company’s India venture was headed for insolvency without government help, the shares have more than doubled over four trading days. The rally followed plans by the nation’s top three carriers to raise tariffs, waving the white flag in a price war that dragged rates to some of the lowest …

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• 20 November

  Oil steadies after hitting 2-week low

  Bloomberg Oil steadied after falling to a two-week low on signs of swelling American crude inventories, while heightened political tensions clouded the chances of a trade deal between the US and China. Futures held above $55 a barrel in New York after slumping 3.2% on Tuesday, the most since the end of September. Industry data showed crude stockpiles rose by …

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• 20 November

  ECB warns of risks to financial stability from its own stimulus

  

  Bloomberg The European Central Bank (ECB)warned of potential side effects from its loose monetary policy, highlighting how years of unprecedented stimulus designed to bolster the economy is contributing to an erosion of financial stability. Low interest rates have encouraged excessive risk-taking by investment funds and insurers as well as in some real estate markets, the ECB said in its semi-annual …

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• 20 November

  RBI unearths $450m bad loans at Yes Bank

  

  Bloomberg India’s central bank has unearthed more than $450 million in extra bad loans at Yes Bank Ltd, the lender that is contending with a shadow-banking crisis and concerns over soured debt and capital. Gross non-performing assets assessed by the Reserve Bank of India (RBI) were 32.77 billion rupees ($457 million) higher than Yes Bank had disclosed as of March …

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• 20 November

  HSBC to replace investment bank chief in latest overhaul

  

  Bloomberg HSBC Holdings Plc is set to replace its investment banking chief as part of an overhaul by interim Chief Executive Officer Noel Quinn, according to people familiar with matter. Samir Assaf, head of global banking and markets, will be moved to a non-executive role at the bank, said one of the people, who asked not to be named discussing …

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• 20 November

  Zambia increases interest rate again

  Bloomberg Zambia’s central bank raised its key interest rate for a second time this year, bucking a global easing trend, in a bid to support its currency and tame inflation. The Bank of Zambia increased the rate to 11.5% from 10.25%, Governor Denny Kalyalya told reporters in Lusaka, the capital. That’s the highest level since May 2017. The central bank …

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• 20 November

  Ex-JPMorgan banker’s currency-rigging case to go to jury

  

  Bloomberg A federal jury in New York is set to start mulling the fate of former JPMorgan Chase & Co banker Akshay Aiyer, who is accused of conspiring with traders at other banks to eliminate competition by manipulating currency markets and boost their own profits. Over more than two weeks, prosecutors presented evidence highlighted by testimony from former Citigroup Inc …

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