July, 2019

• 2 July

  US stocks fluctuate near records; gold rebounds

  

  Bloomberg US stocks fluctuated near all-time highs and Treasuries were little changed as attention turned to a slew of data later in the week that will influence the Federal Reserve’s policy path. The dollar weakened. The S&P 500 was little changed in the last full day of trading before an early close on July 3 and Thursday’s holiday. Data on …

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• 2 July

  Indian stocks market extended gains ahead of budget, earnings

  

  Bloomberg Indian equities extended gains to a second day ahead of a federal budget due later this week that will give an indication of the government’s commitment to providing stimulus for a slowing economy. The advance was led by energy stocks, while drugmakers declined. The benchmark S&P BSE Sensex climbed 0.3 percent to 39,816.48 at the 3:30 pm close in …

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• 2 July

  ECB sees no rush for July interest-rate cut

  

  Bloomberg European Central Bank (ECB) policy makers aren’t yet ready to rush into additional monetary stimulus at this month’s meeting, preferring instead to wait for more data on the economy, according to euro-area central-bank officials familiar with the matter. While Governing Council members agree that they could act on July 25 if the outlook deteriorates, they are currently leaning towards …

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• 2 July

  ‘Polish lenders warn of $16b risk from EU ruling’

  

  Bloomberg Poland’s bank association has asked the government and industry regulators for help in case the European Union’s top court rules against the country’s lenders over foreign-currency mortgages, according to Puls Biznesu newspaper. The lobby’s initial estimate shows banks could face “huge” costs of at least 60 billion zloty ($16 billion), or about four years of industry profits, in a …

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• 2 July

  Bankers across Denmark face fallout of scandal linked to overcharging

  

  Bloomberg Denmark is investigating whether banks besides Danske Bank A/S have recommended loss-making investment products to their clients. The country’s biggest lender fired one of its star executives after an internal review concluded that management was aware it was charging its retail customers too much for products that were likely to offer very low returns. The bank has pledged to …

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• 2 July

  UK’s peer-to-peer lender plans fundraising, IPO

  

  Bloomberg Zopa Ltd is planning to raise as much as 200 million pounds ($253 million) as the online lender works to satisfy regulatory requirements en-route to winning a UK banking license. The company is talking to private equity and sovereign wealth funds about the cash, which could come in the next several months, Chief Executive Officer Jaidev Janardana said in …

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• 2 July

  Khan’s Credit Suisse exit deepens Zurich talent war

  

  Bloomberg The abrupt departure of a potential heir apparent at Credit Suisse Group AG marks a compelling twist in the power plays transfixing Zurich’s intimate private banking world. Iqbal Khan’s leaving as head of Credit Suisse’s international wealth-management unit confirmed persistent speculation that he’d been in talks with crosstown rivals including UBS Group AG and Julius Baer Ltd. The executive …

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• 2 July

  Southwest CEO calls latest 737 Max delay ‘very disappointing’

  

  Bloomberg Southwest Airlines Co, the largest operator of the grounded Boeing Co 737 Max, said the discovery of a new safety issue with the jetliner is extending its absence “well beyond” what was hoped, forcing the carrier to reassess its schedule for the rest of the year. The latest problem, “unfortunately, is going to delay the timeline for returning the …

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• 2 July

  Boeing outsourced 737 Max software to $9 programmers

  

  Bloomberg It remains the mystery at the heart of Boeing Co’s 737 Max crisis: how a company renowned for meticulous design made seemingly basic software mistakes leading to a pair of deadly crashes. Longtime Boeing engineers say the effort was complicated by a push to outsource work to lower-paid contractors. The Max software — plagued by issues that could keep …

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• 2 July

  Polish retailers drop over fast return to sales tax rule

  Bloomberg Poland’s biggest retailers fall as the government pulls forward plans to restore a controversial sales tax to September. The Polish cabinet updated its legislation agenda on Tuesday, which includes fast-tracking a levy that was suspended for three years amid a European Union probe on whether it constituted illegal state aid. In May, Poland won a challenge against the European …

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