June, 2019

• 1 June

  Malaysia Air reviews $2.75b 737 Max order

  

  Bloomberg Malaysia Airlines Bhd is reviewing whether to go ahead with a $2.75 billion order to buy 25 of Boeing Co’s 737 Max jets in the wake of two fatal crashes that’s led to the global grounding of the plane, a person familiar with the matter said. Though the state-run airline hasn’t made any decision, it wants Boeing’s reassurances about …

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• 1 June

  Wizz Air falls on muted outlook over fare war

  Bloomberg Wizz Air Holdings dropped after saying its outlook is clouded by stiff competition for passengers and a threat from air-traffic control strikes. Profit will still rise this year, to as much as $390 million, as the Hungarian discount carrier seeks to grab market share from rivals battling higher fuel costs. Investors had hoped for more, according to Morgan Stanley, …

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• 1 June

  Michael Kors owner slides after cutting full-year sales forecast

  

  Bloomberg Capri Holdings Ltd, the company behind Michael Kors and other luxury brands, tumbled the most in almost seven months after trimming its sales projection for the current year amid foreign currency weakness and lower revenue from wholesale. Capri sees revenue of $6 billion for the current fiscal year, the company said in its quarterly earnings report. That’s down from …

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• 1 June

  Tiffany on track for ‘longest losing streak’

  Bloomberg Tiffany & Co is poised to close in the red for the sixth consecutive session, the longest losing streak sense December 2016. Shares are down 10 percent in the six-day period, trailing the S&P 500’s decline of 3.5 percent for the same period. Tiffany is due to report quarterly results June 4, and analysts are projecting revenue to fall …

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• 1 June

  Warren, AOC flay Sears’ Lampert over severance pay

  

  Bloomberg Back when Eddie Lampert was campaigning for approval of his plan to rescue Sears, he emphasized his promise to give severance to employees who lost their jobs after the retailer went bankrupt. If liquidators wound up with the chain, he told Sen. Elizabeth Warren in February, “these employees would be getting nothing.’’ Warren and Representative Alexandria Ocasio-Cortez (AOC) criticised …

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May, 2019

• 29 May

  Oil slumps as US-China trade hostilities stoke growth fears

  

  Bloomberg Oil slumped as escalating trade hostilities between the US and China stoked fears of slowing global growth, overshadowing forecasts for a drop in American crude inventories. Futures in New York lost as much as 2.5% after rallying 2.1% following Chin- ese media suggestions on Wednesday that the nation could restrict rare earth exports to the US. American crude inventories …

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• 29 May

  US excludes China from currency manipulator tag

  

  Bloomberg The Trump administration again refrained from labelling China a currency manipulator, a decision that leaves one of the president’s campaign promises unfulfilled but avoids further escalation in the trade war between the world’s two largest economies. China said on Wednesday that “relevant international organisations,” and not the US, are in position to decide whether a country is a currency …

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• 29 May

  Malaysia in talks with China firms for compensation on $2.24b pipeline projects

  

  Bloomberg Malaysia is in discussions with China-based contractors for compensation relating to pipeline projects worth 9.4 billion ringgit ($2.24 billion). The government is negotiating with China Petroleum Pipeline Engineering Co. and Huanqiu Project Management Beijing Co. on the total compensation to be paid by Suria Strategic Energy Resources Sdn., which was overseeing the projects, for the termination of the work, …

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• 29 May

  American refiners face summertime hurdles

  Bloomberg A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for summer driving season. In the Gulf Coast, dwindling heavy oil supplies have suppressed refining margins, while Midwest refiners may not reach the high run rates seen last summer. Gulf Coast profits from coking — a process where …

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• 29 May

  Stocks slump as warning by bond-market rings louder

  

  Bloomberg Stocks extended their global retreat on Wednesday as investors fled to bonds, driving yields down to multi-year lows in a fresh wave of risk aversion. Gold advanced. US futures slumped for the S&P 500 and Nasdaq 100 indexes, signalling an opening drop in New York. Declines in miners and tech companies pulled the Stoxx Europe 600 Index lower, after …

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