March, 2019

• 26 March

  Japan’s hunger for Europe CLOs shows no signs of abating

  

  Bloomberg A Japanese lender has this year bought the lion’s share of top-rated bonds that are backed by pools of European corporate loans, propping up the region’s market for collateralised debt obligations amid a very difficult first quarter. Norinchukin Bank, starved of yields thanks to Japan’s negative interest rates, is expected to keep buying AAA-rated tranches in Europe until at …

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• 26 March

  Airbus secures $35bn China deal in fresh blow to Boeing

  

  Bloomberg Airbus SE secured a $35 billion jet deal from China during a state visit by President Xi Jinping to the French capital, dealing a blow to Boeing Co as it grapples with the grounding of its best-selling jet. The mammoth order consists of 290 A320-series narrow-body planes and 10 A350 wide-bodies, Toulouse-based Airbus said after the transaction was announced …

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• 26 March

  Cathay to buy Hong Kong’s budget carrier

  

  Bloomberg Cathay Pacific Airways Ltd agreed to buy Hong Kong’s only budget carrier to expand into the no-frills market, the South China Morning Post said, citing sources familiar with the matter. An announcement on the acquisition of Hong Kong Express Airways Ltd was expected to be made on Tuesday, the report said, adding that the sources didn’t elaborate on details …

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• 26 March

  Ascena soars on plan to sell its Maurices chain

  Bloomberg Ascena Retail Group Inc, the owner of Ann Taylor and Dressbarn, soared after announcing it will sell a majority interest in its Maurices Inc chain to a private equity firm. The shares jumped the most in three months on the news. An affiliate of OpCapita LLP will buy a stake in the women’s clothing retailer in a deal valued …

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• 26 March

  Boeing 737 Max crisis spurs US review of how FAA approves jets

  

  Bloomberg The US Transportation Department is creating a special commission to review how newly designed aircraft are certified, spurred by criticism after two deadly crashes of Boeing Co’s 737 Max. The commission will evaluate how the Federal Aviation Administration (FAA) oversees the process of reviewing and approving new plane models, including the government’s growing use of aircraft manufacturers’ employees to …

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• 26 March

  As Amazon leads cashless charge, US states push back

  

  Bloomberg Rebecca Esparza works with homeless people and, having once lived in a shelter herself, knows what it’s like to navigate the US economy if you don’t have much money. For most of her clients, cash is king because they lack access to the financial tools many Americans take for granted—checking accounts, debit cards, payment apps. Esparza worries that the …

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• 25 March

  Uber set to seal $3.1bn acquisition of Careem

  

  Bloomberg Uber Technologies Inc is set to announce a $3.1 billion cash-and-share deal to acquire its Dubai-based Careem Networks FZ as early as this week, according to people with knowledge of the matter. The US ride-hailing giant will pay $1.4 billion in cash and $1.7 billion in convertible notes for Careem, the people said, asking not to identified because the …

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• 25 March

  Oil slips on global growth worries

  

  Bloomberg Oil slipped in New York after its biggest loss in three weeks as concerns lingered that a slowdown in global economic growth will erode fuel consumption. West Texas Intermediate futures were down 0.5 percent near $59 a barrel, after losing 1.6 percent. A closely watched gauge of US Treasuries inverted for the first time since 2007, signalling a recession …

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• 25 March

  US stocks extend declines as Treasuries, dollar stabilise

  

  Bloomberg US stocks extended losses as traders remained on edge following Friday’s sell-off. Treasuries and the dollar steadied. Technology and energy shares led declines in the S&P 500 Index, and a rebound in banks fizzled out. Ten-year Treasury yields traded near 2.44 percent after a closely-watched part of the US curve inverted as investors wager the Federal Reserve will need …

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• 25 March

  Pound to rally if control of Brexit options gets vote

  

  Bloomberg The pound will rally if lawmakers vote to give themselves a say on what happens next with Brexit, strategists say. Sterling was expected to gain about 1 percent if UK parliament approved a motion to allow votes on Brexit options, said Jeremy Stretch, head of Group-of-10 currency strategy at Canadian Imperial Bank of Commerce. The move would give lawmakers …

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