June, 2019

• 10 June

  Growth pangs put more rate cuts on radar in India

  

  Bloomberg A marked slowdown in Asia’s third-largest economy pushed growth concerns to the top of the Reserve Bank of India’s agenda, suggesting more policy easing will follow its third interest-rate cut of the year. Governor Shaktikanta Das and the inflation-targeting RBI he leads is now squarely focussed on boosting investment and consumption after quarterly growth cooled to a five-year low ...

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• 10 June

  No specific yuan level important: Yi Gang

  

  Bloomberg People’s Bank of China Governor Yi Gang said that no specific level for the yuan is important, and indicated confidence it will continue to be “relatively strong” once the noise of the trade war subsides. “There is obviously a link between the trade war and the movements of renminbi,” Yi said in an exclusive interview in Beijing, using the ...

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• 10 June

  Chile stuns market with a half-point rate cut

  Bloomberg Chile’s central bank stunned analysts by cutting its key interest rate by 50 basis points, the biggest reduction in a decade, saying the economy could grow faster without fuelling inflation. Policy makers reduced the benchmark rate to 2.5 percent, surprising all 18 economists surveyed by Bloomberg. The analysts had expected borrowing costs to be left unchanged. The bank is ...

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• 10 June

  ECB officials fear investors are losing faith in inflation goal

  

  Bloomberg Fears are mounting at the European Central Bank (ECB) that investors are losing faith in the inflation outlook, in a self-reinforcing spiral that could force the institution to dig deeper into its stimulus toolkit. Staff at the euro zone’s national central banks are worried that inflation expectations are becoming “deanchored,” according to officials familiar with the matter. They cited ...

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• 10 June

  UK’s Ocado invests $22m in vertical-farming deals

  

  Bloomberg Ocado Group Plc is investing in a pair of vertical-farming ventures as the UK maker of online retail technologies branches out following its mammoth deal with Marks & Spencer Group. The company said it bought a 58 percent stake in Jones Foods Co, Europe’s largest operating vertical farm, based in Scunthorpe, England. Ocado will use its know-how in automation ...

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• 10 June

  Japan blames F-35 fighter jet crash on pilot disorientation

  

  Bloomberg Japan believes pilot disorientation, rather than technical problems, caused the loss of one of its stealth F-35A fighter jets earlier this year, Kyodo News reported. Findings compiled by Japan’s Air Self-Defense Force said the pilot was ordered to descend to a lower altitude to avoid a nearby US plane during a training session in April. He responded calmly, but ...

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• 10 June

  Amazon pressed over small vendors plans

  

  Bloomberg An influential New York Democrat has written to Amazon.com Inc asking about a report that the company plans to cease wholesale orders from thousands of smaller suppliers. US Representative Nydia Velazquez, chairwoman of the House Committee on Small Business, wrote to Amazon Chief Executive Officer Jeff Bezos asking about the nature of his company’s relationship with small suppliers, whether ...

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• 10 June

  Starbucks to test reusable cups at London airport

  

  Bloomberg Starbucks Corp this month will begin a first-of-its kind trial of reusable cups at London’s Gatwick airport. People drink a lot of coffee at airports. Gatwick says it already recycles a majority of the 7 million disposable coffee cups that travellers use each year. The airport wants to improve on that, and reusable cups potentially have a lower carbon ...

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• 10 June

  Boeing in talks for 100-jet China deal amid trade tensions

  

  Bloomberg Boeing Co has been negotiating one of the largest orders ever of wide-body jetliners with Chinese airlines even as tensions between Washington and Beijing escalate, say people familiar with the talks. The discussions centre on about 100 twin-aisle jets: 787 Dreamliners as well as 777X planes, the newest long-range aircraft in Boeing’s lineup, said one of the people, who ...

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• 9 June

  Trade, geopolitical issues pose biggest risk to world economy

  

  Bloomberg After days of wrangling over the wording of a communique, finance chiefs from the world’s largest economies warned that escalating trade and geopolitical tensions pose the biggest risk to global growth. Officials said that although growth appears to be stabilising, it “remains low and risks remain tilted to the downside,” according to the statement. “Most importantly, trade and geopolitical ...

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