November, 2019

• 17 November

  New face of Boeing jets tries to win back 737 Max buyers

  

  Bloomberg Days after Stanley Deal took the helm of Boeing Co’s jetliner business last month, he was winging across the globe to meet with the airline bosses most shaken by the deadly crashes that have plunged the manufacturer into crisis. Deal spent the October 29 anniversary of the first of two 737 Max crashes with Rusdi Kirana, founder of Indonesia’s …

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• 17 November

  S African Airways faces scrutiny over sale plan

  

  Bloomberg South African Airways (SAA) officials will be summoned to a meeting with regulators next month to disclose details about talks with potential equity partners and give assurances that any deal won’t violate foreign-ownership laws. Under the Air Services Licensing Act of 1990, airlines must be at least three-quarters owned by South Africans to operate a domestic service. That would …

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• 17 November

  JC Penney soars on profit forecast, turnaround plan

  Bloomberg JC Penney Co shares surged after the company raised its profit forecast, even amid another quarterly sales decline, as the battered department-store chain’s turnaround plan gains more time to play out. Excluding some items, earnings before interest, taxes, depreciation and amortisation will exceed $475 million this year, up from a previous forecast of between $440 million and $475 million. …

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• 17 November

  Newark, LaGuardia ranked most expensive US airports

  

  Bloomberg If you’ve got a flight from LaGuardia, Newark or JFK, there’s a chance you’ve paid more for the ride to the airport than you did on the plane ticket. That’s according to a new ranking by the website Points Guy, which used the cost of airfare, a cab, parking, baggage carts and a cup of coffee to declare all …

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• 17 November

  Airbus says zero-carbon regional jet may arrive by 2030s

  

  Bloomberg Airbus SE could potentially build an emission-free, 100-seat regional aircraft by the early 2030s, as the aviation industry speeds its response to mounting concern over air travel’s carbon footprint, according to the head of the planemaker’s new-product development arm. The European manufacturer is working on multiple methods to reduce carbon-dioxide emissions, Sandra Bour Schaeffer, chief executive officer of Airbus …

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• 16 November

  Oil climbs to two-month high as trade war positivity hits markets

  

  Bloomberg Oil climbed to the highest in nearly two months amid optimism that the US and China are close to locking down a partial trade deal. Futures jumped 1.7% in New York, pushing a weekly advance to 0.8% after White House economic adviser said negotiations between two countries were coming down to final stages. That outweighed US government data which …

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• 16 November

  Fed warns low rates could spark financial instability

  

  Bloomberg Continuing low interest rates could dent US bank profits and push bankers into riskier behaviour that might threaten the nation’s financial stability, the Federal Reserve said in a report. The latest version of the twice-yearly report, meant to flag stability threats on the Fed’s radar, highlighted the rate squeeze facing banks and insurers, noting that it could erode lending …

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• 16 November

  S’pore fines UBS $8.2m for adviser misconduct

  

  Bloomberg Singapore’s regulator fined UBS Group AG S$11.2 million ($8.2 million) for misconduct by its advisers that included overcharging clients for trades. UBS’s advisers engaged in acts that deceived or were likely to deceive clients about the spreads and prices on bond and structured product transactions, the Monetary Authority of Singapore (MAS) said. “The conduct of UBS through its representatives …

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• 16 November

  Global equity rally showing signs of reversing: Citigroup

  Bloomberg A headwind for the global equity rally is showing signs of reversing, and that could give a further boost to stocks, according to Citigroup Inc. Investors have sold a net $230 billion in shares this year amid a 20% rise in a gauge of global stocks, strategists including Robert Buckland wrote in a note. That has only happened twice …

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• 16 November

  RBI calls for tighter governance at banks

  

  Bloomberg India’s central bank chief Shaktikanta Das called for stronger corporate governance at state-run lenders to make the country’s banking sector more efficient. Describing the lack of strict governance as the “elephant in the room,” Das said this had led to elevated levels of non-performing assets (NPA), capital shortfalls, fraud and inadequate risk management. “The role of independent boards in …

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