July, 2019

• 10 July

  Air France slams French plan for new tax on plane tickets

  

  Bloomberg Air France condemned the French government’s plan for a new tax on flights, saying the levy would hurt the airline’s ability to invest in less polluting planes and aggravate already high costs of operating in the country. “This new tax would significantly penalise Air France’s competitiveness,” the French arm of Air France-KLM said in a statement, estimating the extra …

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• 10 July

  US stocks advance as gold, Treasuries surge on Powell

  

  Bloomberg US stocks rose towards all-time highs and Treasuries climbed with gold as comments by Jerome Powell cemented market bets for a rate cut this month. Equities that had slumped since the strong jobs report rallied back to intraday records after the Fed chairman signalled a willingness to lower rates, citing a slowing global economy and trade issues. Gains faded …

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• 10 July

  Bitcoin approaches highest price of ’19

  

  Bloomberg The Bitcoin bulls are back in control, with the largest cryptocurrency approaching its highest price of the year after breaching $13,000 for the first time in two weeks. The digital asset gained for a third day to as high as $13,154, continuing its recovery from the drop that almost pushed it below $10,000 last week. It reached a more …

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• 10 July

  Deutsche Bank assures fixed income staff ‘their jobs safe’

  

  Bloomberg Deutsche Bank AG fixed-income head Ram Nayak assured staff they will keep their jobs at his business even as the lender cuts 18,000 positions in a sweeping overhaul, according to people familiar with the matter. The bank’s move to “resize” debt trading operations won’t lead to dismissals, Nayak told colleagues on a conference call, the people said, asking not …

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• 10 July

  Australia rate cuts fail to lift economy gloom

  

  Bloomberg Australia’s interest-rate cuts failed to gain traction as households’ worries about the economic outlook sent consumer confidence slumping to a two-year low. The sentiment index fell 4.1 percent to 96.5 in July, the weakest reading since August 2017, Westpac Banking Corp said in a statement. The biggest decline was in the sub-index tracking expectations for the economy in the …

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• 10 July

  State bank VTB grabs Russia’s grain riches

  

  Bloomberg A sprawling Russian banking group run by an ally of President Vladimir Putin is fast becoming one of the most powerful forces in the country’s grains market. Since entering the grain export business last year, Andrey Kostin’s government-backed VTB Group has loaded up on assets including port terminals, a rail-freight operator and a trader. Those investments could be worth …

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• 10 July

  ‘EU’s bank stress test was easy on lenders’

  Bloomberg The European Court of Auditors (ECA) joined regulators in questioning the value of the EU’s bank stress test, saying last year’s exercise should have been tougher and more consistently applied across the bloc. The scenario simulated by the European Banking Authority, the EU’s top banking regulator, was milder than the 2008 financial crisis, according to an ECA report. The …

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• 10 July

  At a grim moment for banking jobs, Citi says it’s hiring

  

  Bloomberg In one of the darker weeks for finance jobs, Citigroup Inc said it’s planning to increase senior banking hires across key sectors and markets as it aims to become a top-three investment bank. The lender is seeking to add to its healthcare and technology teams, and is also looking to increase local deal-making clout in some emerging markets, Tyler …

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• 9 July

  UAE affirms support for Mideast peace process, regional stability

  GENEVA / WAM In a statement delivered by Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations (UN) in Geneva, during the 41st session of the Human Rights Council, the UAE affirmed its support for the peace process in the Middle East, with the aim of achieving peace and stability in the region. It also highlighted its support …

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• 9 July

  Abu Dhabi’s trade with Saudi hits AED18.3bn

  

  ABU DHABI / WAM The value of trade in goods between the Emirate of Abu Dhabi and Saudi Arabia has increased to AED18.3 billion during the first four months of 2019, a growth of 20.6 percent compared with the same period of 2018, according to figures released by the Statistics Centre — Abu Dhabi. The emirate’s trade with Saudi Arabia …

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