June, 2019

• 17 June

  Ukraine warns Europe of gas crisis

  

  Bloomberg Ukraine is warning European nations to prepare for a gas crisis amid skepticism it will agree on a new transit contract with Russia before the current deal expires. It’s “highly probable” that a new accord won’t be concluded by January 1, when the current agreement ends, according to Ukraine’s deputy foreign minister Olena Zerkal. That echoes skepticism by the …

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• 17 June

  Oil driller Parsley says it’s ‘attractive’ for any purchaser

  

  Bloomberg Parsley Energy Inc. said it would be “attractive” for any potential buyer as the US shale driller expects to generate positive free cash flow in the back half of this year. “We are attractive for purchasers whatever type of investor it is,” Chief Executive Officer Matt Gallagher said in a phone interview. “That’s always a goal, an objective of …

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• 17 June

  Exxon, Saudi okay Texas chemical plant

  

  Bloomberg Exxon Mobil Corp. and Saudi Arabia’s state-controlled petrochemicals company formally approved construction of a new chemical complex in Texas that will process production from the Permian Basin’s booming oil and natural gas wells. The project near Corpus Christi will be the world’s largest steam cracker and create $50 billion of “economic output” in the first six years, Exxon and …

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• 17 June

  S&P futures drift as focus turns to central banks

  

  Bloomberg US equity futures drifted on Monday while European stocks edged lower following a mixed session in Asia as a big week for central-bank policy gets underway. Treasuries fell and the dollar was steady. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 gauges struggled for traction, while the Stoxx Europe 600 Index slipped. Deutsche Bank boosted …

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• 17 June

  India’s Sensex falls as monsoon delay fans investors’ concerns

  

  Bloomberg Indian stocks completed their longest run of declines in more than a month as the late arrival of monsoon rains, crucial for crop output, heightened investor concern about the government’s ability to bolster a slowing economy. The S&P BSE Sensex fell 1.3% to 38,960.79 in Mumbai, clocking its steepest four-day slide in five weeks. The NSE Nifty 50 Index …

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• 17 June

  Doubt on yields may ruin this sector’s power trip

  Bloomberg Investors assailed by trade-war worries and slowing growth have turned in recent weeks to defensive stocks, which are by nature less volatile. Utilities, boosted by falling yields, have done particularly well, and outperformed all sectors. Their relative haven status may be in for some wobbles though, especially as bond yields could be near a tipping point. Utilities have performed …

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• 17 June

  Deutsche Bank considers exiting US equities trading

  

  Bloomberg Deutsche Bank AG is considering exiting US equities trading and creating a “bad bank” to wind down legacy assets as part of a broader overhaul to be announced next month, according to a person familiar with the matter. The bank’s supervisory board discussed options on a call last week, the person said, asking not to be identified in disclosing …

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• 17 June

  Coeure: ECB will act if needed to support economy

  

  Bloomberg Executive Board member Benoit Coeure said the European Central Bank will act if needed to support the economy and could even be facing such a decision within months. In a Financial Times interview, Coeure said most of the economic concerns relate to manufacturing, and may be temporary, but that signals coming from financial markets are “quite alarming.” The comments …

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• 17 June

  Shadow banking crisis raises risk of Indian bad-loan redux

  

  Bloomberg Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector. A year after a series of defaults by Infrastructure Leasing & Financial Services Ltd. forced the government to intervene and exposed weaknesses in …

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• 17 June

  Banker compliance jobs at risk as Nordea, Danske banks turn to bots

  

  Bloomberg The two biggest Nordic banks have both recently beefed up their compliance units significantly. Both say the extra headcount is temporary. Nordea Bank Abp has hundreds of employees who scrutinise billions of transactions in order to catch anything that looks potentially criminal. It’s a costly, inefficient system that Mikael Bjertrup, head of the bank’s financial crime prevention unit, plans …

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