July, 2019

• 23 July

  Boeing credit rating at risk in 737 Max crisis, says report

  

  Bloomberg Boeing Co’s credit rating is at risk as the grounding of the company’s 737 Max jetliner drags into a fifth month, with Moody’s Investors Service joining Fitch Ratings in sounding a warning. The planemaker faces a $5 billion cash-flow drain this year as it continues to churn out aircraft it can’t deliver until regulators around the globe clear the …

  Read More »
• 23 July

  Lindt gains as Russell Stover on rebound track

  

  Bloomberg Lindt&Spruengli AG said its investments in the US market helped put sales of Russell Stover on track for their first annual rebound since the Swiss chocolate maker acquired the ailing brand five years ago. Russell Stover sales grew in the first half, the Kilchberg-based company said. New product introductions and demand for the label’s sugar-free stevia line boosted total …

  Read More »
• 23 July

  Airlines clash over CO2 as industry vilified in climate talk

  

  Bloomberg An uneasy alliance between airlines as they face down criticism over carbon emissions has collapsed into a high-profile dispute involving Europe’s biggest network carrier and largest discounter. Deutsche Lufthansa Chief Executive Officer CarstenSpohr lashed out at low-cost carriers including Ryanair Holdings in a Swiss newspaper, saying their loss-leading fares are stoking demand for needless flights that raise pollution and …

  Read More »
• 22 July

  Deals galore as Mohamed visits China

  

  BEIJING / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Xi Jinping, President of the People’s Republic of China, witnessed the signing of a number of agreements and memoranda of understanding (MoUs) between the two countries, spanning a series of sectors including defence, trade …

  Read More »
• 22 July

  Emaar executes $11b project in Beijing

  

  BEIJING / WAM Dubai-based global developer Emaar will jointly implement with Beijing Daxing International Airport an AED40.5 billion ($11 billion) project including the five square kilometre land area of the 50 sq km airport. The move is in line with the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander …

  Read More »
• 22 July

  Oil lessens advance as UK seeks to ease Iran tensions

  Bloomberg Oil eased gains as traders digested conciliatory remarks by British authorities after Iran’s seizure of its oil tanker, amid heightened tensions in the region. Futures in New York added 2.2 percent before trading close to little changed. The UK demanded the immediate release of the Stena Impero, which was taken by Iran’s Revolutionary Guard Corps in the Strait of …

  Read More »
• 22 July

  Tech shares gain ahead of earnings; crude advances

  

  Bloomberg Technology shares led gains among US stocks following a mixed session in Europe and Asia as investors looked ahead to a busy week of corporate earnings. Oil gained amid tensions in the Persian Gulf. Apple rallied after Morgan Stanley boosted its price target, while Micron Technology was lifted to buy from neutral by Goldman, as were Lam Research and …

  Read More »
• 22 July

  Taiwan stocks offer hefty yield as global investors still selling

  

  Bloomberg The cash reward for owning Taiwan stocks is larger than almost anywhere else in Asia. Global investors are ditching them anyway. Even with the benchmark Taiex gauge near a record high, managers have pulled about $680 million from Taiwan stock funds this month. The withdrawals come even as corporate dividends top US yields and just as a record amount …

  Read More »
• 22 July

  India aims to prevent shadow-banking crisis

  

  Bloomberg India is attempting to prevent any repeat of last year’s shadow banking crisis after detecting “signs of fragility” in some of the 50 housing finance and other non-bank lenders it is monitoring, according to central bank Governor Shaktikanta Das. The Reserve Bank of India is working closely with the country’s lenders to prevent the collapse of another large systemically …

  Read More »
• 22 July

  China banking system learns lesson

  

  Bloomberg Two months after China shocked investors with the first government seizure of a bank in two decades, market confidence in the nation’s smaller lenders has yet to fully recover. That may be just what the country needs. When it took control of Baoshang Bank Co and imposed losses on some creditors, China’s government upended the long-held assumption that it …

  Read More »