September, 2019

• 25 September

  US equity futures decline, Europe stocks dip; oil falls

  

  Bloomberg US equity-index futures dipped while stocks slumped in Europe and Asia as investors weighed the deepening political gridlock in Washington against prospects for reduced trade tension between America and China. The dollar advanced and oil fell. Contracts for all three main equity gauges signalled more declines at the New York open as traders grappled with the impeachment investigation into …

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• 25 September

  India’s Sensex snaps 3-day winning run

  Bloomberg India’s equities benchmark snapped a three-day winning streak, tracking declines in global stocks, as investors assessed the potential fallout of an impeachment inquiry of US President Donald Trump. The S&P BSE Sensex dropped 1.3 percent to 38,593.52 at the 3:30 pm close in Mumbai, while the NSE Nifty 50 Index also fell by the same magnitude. Both gauges surged …

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• 25 September

  BofAML spots bargain upside bet on US stocks

  Bloomberg For US equity investors wary of a sell-off but loath to miss out on a stocks rally, Bank of America Merrill Lynch is pitching an options strategy known as a calendar risk reversal. Relatively muted swings and a wide price gap between bullish and bearish options bets means it is attractive to sell a medium-term put on the S&P …

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• 25 September

  Daxing airport helps China rival US in skies

  

  Bloomberg Just five years ago, Daxing was a dusty area of farmland to the south of Beijing, largely neglected by visitors to the city. That’s no longer the case, now that an enormous airport has emerged there to thrust China even closer to toppling the US as the world’s biggest aviation market. Beijing Daxing International Airport, an 80 billion yuan …

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• 25 September

  India’s SpiceJet targets Cargo unit IPO amid e-comm boom

  

  Bloomberg Indian budget carrier SpiceJet Ltd plans to sell shares in its logistics business in an initial public offering, as the rise of e-commerce drives demand for fast shipping across the region. The one-year-old cargo division, known as SpiceXpress, could be listed on a stock exchange within 12 months, SpiceJet Chairman Ajay Singh said in an interview at Bloomberg’s New …

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• 25 September

  Sainsbury to shut stores after Asda failed bid

  Bloomberg J Sainsbury Plc pledged to reduce costs and close stores as Chief Executive Officer Mike Coupe seeks to move on from a failed bid to take over rival grocer Asda. The UK supermarket operator plans to reduce expenditures by around $623 million over the next five years as it integrates dozens of Argos home-goods outlets, acquired in 2016, into …

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• 25 September

  Thomas Cook’s Condor gets $420m lifeline from Germany

  

  Bloomberg German airline Condor’s request for emergency financing was granted by Chancellor Angela Merkel’s government in a bid to get the tourist carrier through the winter after the demise of UK parent Thomas Cook Group Plc. The bridging loan worth 380 million euros ($420 million) must be approved by the European Commission and will be valid for six months, according …

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• 24 September

  Dubai sees 134% rise in realty deals from Sept 2

  

  DUBAI / WAM The Dubai Land Department (DLD), on Tuesday, announced a 134 percent increase in real estate transactions following the creation of the emirate’s new Higher Committee of Real Estate on September 2, which aims to avoid the duplication of projects in the sector and achieve a more sustainable balance between supply and demand. The committee was established by …

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• 24 September

  Trade tensions main global growth risk, says Lagarde

  

  Bloomberg Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of …

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• 24 September

  Saudi to waive ‘expat fees’ for industrial companies

  

  Bloomberg Saudi Arabia will waive the fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue. In February, King Salman approved a …

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