June, 2019

• 2 June

  Aviation tycoon Neeleman eager to buy new Airbus jet

  

  Bloomberg Airline entrepreneur David Neeleman said he’d be at the front of the line for a proposed new longer-range Airbus SE jetliner if it’s launched at next month’s Paris Air Show, as widely expected. “We’d definitely be interested in that airplane,” Neeleman said of the Airbus A321XLR, which wouldn’t start deliveries until 2023. “I wish it was coming sooner,” he ...

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• 2 June

  RBI faces calls for rate cuts, liquidity boost

  

  Bloomberg India’s economic soft patch has put Asia’s most dovish central bank on notice, yet again. Growth cooled to 5.8 percent in the first three months of the year, the slowest pace in several quarters, according to a government report. That took the expansion in the fiscal year to March 2019 to 6.8 percent, lower than the 6.9 percent median ...

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• 2 June

  Fed watchers expect rate cuts this year

  

  Bloomberg Federal Reserve watchers said the central bank will abandon its patient policy stance and cut interest rates in coming months as President Donald Trump’s planned new tariffs on Mexican goods may drag down US economic growth. JPMorgan Chase & Co. chief US economist Michael Feroli now projects quarter-point rate reductions in September and December, while Barclays Plc’s Michael Gapen ...

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• 2 June

  Overreaction bets work best in China

  

  Bloomberg Betting on overreaction — assuming that stocks move too far on new information and will reverse course — is more successful in China than any other market, according to quantitative strategists at Morgan Stanley. Reversals of the trend seen during the previous few months tend to beat momentum trading, analysts including head of Asia quantitative research Yinan Zhang wrote ...

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• 2 June

  Deutsche Bank, UBS briefly explored merger

  

  Bloomberg Deutsche Bank AG and UBS Group AG briefly explored the idea of a megamerger earlier this year that would have created continental Europe’s biggest financial institution, people with knowledge of the matter said. Top Deutsche Bank and UBS officials held preliminary discussions in recent months about a potential combination, according to the people, who asked not to be identified ...

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• 2 June

  Wells Fargo in talks to settle tax credit probe

  Bloomberg Wells Fargo & Co is in negotiations to settle a US probe into procurement of low-income housing tax credits as its top lawyer tries to clean up issues before handing off the chief executive officer role. The US Justice Department is aiming to resolve an investigation into multiple banks’ alleged manipulation of tax-credit bidding in the next couple months, ...

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• 1 June

  Oil posts worst May in 7 years as global trade tensions grow

  

  Bloomberg Oil posted its worst May performance in seven years as global trade tensions escalat-ed, undermining the outlook for energy demand growth. Futures tumbled 5.5 percent in New York to a depth not seen in more than three months. Equities also plunged as investors deserted risky asset classes for the safety of gold and US Treasuries. President Donald Trump’s threat ...

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• 1 June

  Islamic nations condemn attack on Saudi oil ships

  Bloomberg Leaders of Islamic nations condemned attacks on Saudi Arabian oil facilities and ships off the coast of the UAE that have been blamed on Iran and its Yemeni Houthi allies, saying the international community should preserve the region’s stability. The Organization of Islamic Cooperation held a summit in Mecca a day after back-to-back emergency meetings of Gulf and Arab ...

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• 1 June

  DGCX records highest average open interest in three years

  

  Dubai / Emirates Busines The Dubai Gold & Commodities Exchange (DGCX) saw a spike in Indian Rupee (INR) trading in May as the India election came to a close, leading the exchange to record a monthly average open interest (AOI) of 406,203 contracts in the month, its highest AOI since November 2016. Ongoing political tensions across Europe on the back ...

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• 1 June

  Trump terminates India’s trade designation as developing nation

  

  Bloomberg US President Donald Trump terminated India’s designation as a developing nation under a trade program, eliminating an exception that allowed the country to export nearly 2,000 products to the US duty-free. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation. “Accordingly, ...

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