May, 2019

• 28 May

  Rihanna’s fashion label with LVMH, Fenty, opens in Paris

  

  Bloomberg Rihanna revealed her first Fenty collection in Paris. She arrived wearing a blazer as a dress—the white canvas number had exaggerated shoulders and was cinched in at the middle with a built-in corset—paired with strappy going-out heels in gold leather, all from her new label. The mood was boss lady on top, party girl below. This mix of high …

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• 27 May

  US not ready to make a trade deal with China, says Trump

  

  Bloomberg The US isn’t ready to make a trade deal with China, President Donald Trump said while on a state visit to Japan. “I think they probably wish they made the deal that they had on the table before they tried to renegotiate it,” Trump said on Monday at a joint press conference in Tokyo alongside Japanese leader Shinzo Abe. …

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• 27 May

  Schlumberger suffers credit hit as oil clients stick to cuts

  

  Bloomberg Schlumberger Ltd had its debt rating lowered by S&P Global Inc as belt-tightening in the US shale patch translates into less drilling and fracking work for the world’s top oilfield services provider. The rating was cut a notch to A+, the fifth-highest invest grade, from AA-, S&P said. Its biggest rival, Halliburton Co., had its outlook revised to negative …

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• 27 May

  US new home sales drop from 11-year high as prices surge

  

  Bloomberg Sales of new US homes cooled in April from an 11-year high amid a surge in prices, adding to signs of softness in housing at the start of the quarter. Single-family home sales fell 6.9 percent to a 673,000 annualised pace, close to economist estimates following an upwardly revised March reading of 723,000, government data showed. The median sales …

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• 27 May

  Europe stocks advance with bonds following EU election

  

  Bloomberg Stocks rose in Europe on Monday and markets were mixed in Asia as investors mulled three weeks of global declines amid escalating US-China trade tensions. Core sovereign bonds in the European Union advanced after mainstream parties held their ground against populists in elections. The Euro Stoxx index rose, helped by Fiat Chrysler’s proposed merger with France’s Renault, which drove …

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• 27 May

  India’s Sensex gains amid optimism Modi win to drive growth

  

  Bloomberg Indian equities advanced amid continued optimism that Prime Minster Narendra Modi will adopt more policies to spur growth in Asia’s third-biggest economy. The benchmark S&P BSE Sensex rose 0.6 percent to 39,683.29 in Mumbai, adding to a series of record highs this year after capping its best week in seven months. The NSE Nifty 50 Index advanced 0.7 percent, …

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• 27 May

  China’s first bank seizure since 1998 shows hidden loan risk

  

  Bloomberg China’s first government takeover of a bank in more than two decades has underscored the potential for increased stress at regional le- nders that piled into off-book financing in recent years. Regulators said that they would assume control of Ba-oshang Bank Co. for one year because of “serious” credit risks. The Inner Mongolia-based lender, once seen as a model …

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• 27 May

  5 banks face lawsuit over Australia foreign exchange scandal

  

  Bloomberg Citigroup Inc, Royal Bank of Scotland Group Plc and JPMorgan Chase & Co are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies. UBS Group AG and Barclays Plc were also named in the suit lodged on Monday in the Federal Court by Maurice Blackburn Lawyers. The action claims …

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• 27 May

  Negative rates push small Japan banks into structured finance

  

  Bloomberg Japan’s regional banks have long been relegated to the sidelines in one of the most lucrative corners of the lending market while regular loans got gradually less profitable. Now some are fighting back. Shizuoka Bank Ltd has lined up a network of 40 local lenders that will invest in structured assets such as project finance and non-recourse real estate …

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• 27 May

  Deutsche Bank signals investment unit cutbacks

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing is targeting the investment bank for “tough cutbacks,” notably in equity trading, in a campaign to restore market confidence following the breakdown of takeover talks with Commerzbank AG. “I can assure you: we are prepared to make tough cutbacks” to the securities unit, Sewing said at the bank’s annual shareholders’ meeting …

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