October, 2018

• 17 October

  ECB bank watchdog race intensifies

  

  Bloomberg Sharon Donnery is getting closer to becoming the euro zone’s top bank supervisor as she and her two competitors ready for scrutiny by lawmakers and the European Central Bank. The deputy governor of Ireland’s central bank can count on the support of a bloc of ECB policy makers from northern nations when the Governing Council holds a secret ballot …

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• 17 October

  Goldman bankers give CEO surprise gain in first month

  Bloomberg Goldman Sachs Group Inc’s dealmakers celebrated one of their own rising to the top of the firm by delivering an unexpected boost to his first month. Wall Street’s top advisory franchise delivered in a quarter when most of its competitors were beset by a slowdown in completed merger transactions and underwhelming debt-underwriting activity. Goldman Sachs’s investment-banking group posted a …

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• 17 October

  Morgan Stanley’s big share rally finds analyst love

  

  Bloomberg Morgan Stanley is a clear winner, posting its biggest share rally since February 2017, after reporting third-quarter results earlier, garnering near-universal approval from Wall Street analysts picking through its report. Goldman Sachs Group’s stock is gaining too, but just the most since September 19, while its earnings are getting more of a cold eye. Morgan Stanley is scoring the …

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• 17 October

  United boosts profit view on travel demand

  

  Bloomberg United Continental Holdings Inc. boosted its 2018 profit outlook for the third time this year, overcoming higher oil prices as strong travel demand buoys a financial turnaround at the No. 3 US airline. Earnings will climb to at least $8 a share this year, United said in a statement, having previously predicted as little as $7.25. The carrier improved …

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• 17 October

  Flybe drops most since 2011

  

  Bloomberg Rising oil prices that have already wiped out two European airlines since September have claimed another victim: Britain’s biggest carrier on domestic routes lost more than one-third of its value on Wednesday as an escalating fuel bill coincides with weaker demand. Shares of Flybe Group Plc dropped as much as 38 percent as the Exeter, England-based company said “softening” …

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• 17 October

  Asos surges as online clothing retailer beats summer heat

  

  Bloomberg Asos Plc has posted stronger-than-estimated pretax profit as Britain’s largest online-only fashion retailer posted double-digit sa-les growth while some of its rivals in retail struggle with volatile weather and digital-first competition. The shares rose as much as 12 percent in London, the most in more than three years. Retailers like Asos that produce and sell their own labels continue …

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• 17 October

  Walgreens chief says pharmacy chain will survive Amazon threat

  

  Bloomberg Walgreens Boots Alliance Inc Chief Executive Officer Stefano Pessina said it will be easier for his company to move online than it will be for Amazon.com Inc to copy its massive store network, predicting a long future for the pharmacy chain as it strikes new partnerships in health and retail. In a wide-ranging interview at Bloomberg’s headquarters in New …

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• 17 October

  Walmart plans competitor to Amazon’s video marketplace

  

  Bloomberg Walmart Inc is looking to create an online store that would sell other companies’ video services, according to people familiar with the talks, opening up a new front in its fight with Amazon.com Inc. The world’s largest retailer has approached several media companies about reselling their streaming services, according to the people, who asked not to be identified because …

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• 16 October

  Abu Dhabi fund earmarks $3bn for education, health

  

  ABU DHABI / Emirates Business In a bid to elevate the standard of living in developing countries and eradicate global poverty, Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, has highlighted its allocation of nearly AED11 billion ($2.99 billion) towards development projects in the education as well as healthcare sectors. In its report marking International …

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• 16 October

  WTO must confront China over trade abuses, says US

  

  Bloomberg US and Chinese officials clashed in Geneva on Tuesday as the world’s two largest economies disagreed over how to reform the global trading system. Deputy US Trade Representative Dennis Shea said the World Trade Organization (WTO) must confront China’s trade abuses while rethinking its preferential rights as a developing nation. Chinese Ambassador Zhang Xiangchen countered that “no one can …

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