November, 2019

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 16 November

  ‘Germany’s economy close to full capacity’

  

  Bloomberg Bundesbank president Jens Weidmann painted a positive picture of Germany’s economic prospects, arguing that growth momentum will pick up in the medium term while highlighting the need for structural investment. Europe’s largest economy is operating close to full capacity, with some sectors such as construction showing signs of overheating, Weidmann told an audience of young people in Frankfurt. He …

  Read More »
• 16 November

  Goldman Sachs to pay $20mn to settle lawsuit

  Bloomberg Goldman Sachs Group Inc agreed to pay $20 million to settle an investor lawsuit accusing traders at the bank, along with 15 other financial institutions, of rigging prices for bonds issued by Fannie Mae and Freddie Mac. As part of the settlement, disclosed in a court filing, Goldman Sachs will cooperate with investors in their case against the other …

  Read More »
• 16 November

  Singapore tycoons team up to vie for digital banking license

  

  Bloomberg Ron Sim, founder of one of Asia’s largest massage chair makers, is in talks to partner with a unit of Temasek Holdings Pte and other firms to bid for one of Singapore’s new virtual banking licenses, according to people familiar with the matter. V3 Group Ltd, Sim’s Singapore-based firm, is discussing forming a consortium with Temasek’s Heliconia Capital Management …

  Read More »