September, 2019

• 29 September

  ICE debut likely tanked Bitcoin, says JPMorgan

  

  Bloomberg Bitcoin’s 20 percent drop was likely fuelled by the effect of Intercontinental Exchange Inc’s (ICE) new futures contracts and an unwinding of long positions, according to JPMorgan Chase & Co. The cryptocurrency’s plunge, its biggest in a week since last November, took it from around $10,000 to a close of $8,061. Though the strategists led by Nikolaos Panigirtzoglou were …

  Read More »
• 29 September

  Credit Suisse saga exposes banker-surveillance state

  

  Bloomberg The scene: a street in Zurich. The mark: a wealthy Swiss banker. His pursuers: hired goons looking for intel. It sounds like something ripped from John Le Carre. In fact, it’s real-life — and not all that unusual in the world of high finance. News that Credit Suisse Group AG had hired private investigators to tail a star banker …

  Read More »
• 29 September

  Bad loans prompt India to sanction bank that’s seeking merger

  

  Bloomberg India’s central bank placed lending restrictions on Lakshmi Vilas Bank Ltd, adding to the company’s troubles after its chief executive officer abruptly quit last month and police registered a case of alleged fraud. Lakshmi Vilas Bank, which is seeking a merger with financier Indiabulls Housing Finance Ltd to reduce its delinquent debt, was informed it would be brought under …

  Read More »
• 29 September

  Greece needs lower fiscal targets: IMF

  

  Bloomberg A reduction of Greece’s fiscal targets would support the country’s economic and social recovery, the International Monetary Fund said. In 2020, the IMF recommends that “the government and European partners build consensus around a lower primary balance path, given ample economic slack and critical unmet social spending and investment needs,” according to the fund’s statement after the conclusion of …

  Read More »
• 29 September

  Jefferies hit by $146m WeWorks writedown

  

  Bloomberg Jefferies Financial Group Inc’s earnings took a hit from an unlikely source: WeWork’s dropping valuation. Third-quarter revenue came in below even the lowest analyst expectationas the company’s merchant banking unit wrote down the value of its investment in We Co by $146 million. Net revenue fell slightly to $777 million despite increases in both fixed-income and equities trading, Jefferies …

  Read More »
• 29 September

  Post-crisis rules may hold answer to ‘one mystery’ in US

  

  Bloomberg Behind-the-scenes regulatory requirements imposed on the largest US banks may help explain one mystery spawned by recent turmoil in an obscure, but important, slice of the multitrillion-dollar money market. Dealers and policy makers alike have wondered why big banks didn’t step in as rates on overnight repurchase agreements soared to record highs. Those banks have about $1.4 trillion deposited …

  Read More »
• 29 September

  Delta expands in S America with Latam deal

  

  Bloomberg Delta Air Lines Inc is dramatically expanding its South American footprint, agreeing to a $2.25 billion deal with Latam Airlines Group SA after a similar arrangement between the Chilean company and American Airlines Group Inc ran into legal trouble. The pact calls for Delta to pay $1.9 billion for a 20 percent stake in Latam, Latin America’s largest carrier, …

  Read More »
• 29 September

  Tesco mulls sale of struggling Polish unit

  

  Bloomberg Tesco Plc is considering a sale of its struggling Polish operations, according to people familiar with the situation, as the UK’s largest retailer focuses on its domestic operations and more promising overseas markets. The supermarket operator has begun a review of the Polish arm, according to the people, who asked not to be identified discussing a private matter. The …

  Read More »
• 29 September

  Boeing 737 Max fleet to be parked in Australia

  

  Bloomberg Australia has given clearance for Singapore Airlines Ltd’s SilkAir to store its six Boeing Co 737 Max aircraft in the country, as the global grounding of the jet continues following two deadly crashes within the past 12 months. SilkAir has provided flight plans and the first aircraft is expected to arrive in Alice Springs, central Australia, on Monday, according …

  Read More »
• 29 September

  Virgin Atlantic seeks Manchester push with Thomas Cook slots

  

  Bloomberg Virgin Atlantic Airways Ltd is looking to pick up operating slots at Manchester airport vacated by collapsed rival Thomas Cook Group Plc in a bid to grab a larger share of the travel market in northern England. The airline is in contact with Airport Coordination Ltd, which allocates takeoff and landing positions in Manchester, with a view to adding …

  Read More »