December, 2018

• 30 December

  China targets smaller lenders in shadow banking crackdown

  

  Bloomberg China announced plans to rein in the expansion of lending by the nation’s regional banks to areas beyond their home bases, the latest step policy makers have taken to defend against financial risk in the world’s second-biggest economy. Those lenders, which include rural cooperatives, must have the proper licenses to provide financing beyond the region where they’re based, or …

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• 30 December

  Regulators seek consolidation of a fractured financial system in Taiwan

  

  Bloomberg Regulators in Taiwan are taking another shot at consolidating a fractured financial system that’s scaring off foreign investors. The island’s authorities last month made it easier for lenders to merge, part of a long-running campaign to whittle down an industry where assets are so thinly spread that banks struggle to compete with regional rivals. Government policy in the 1990s …

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• 30 December

  Fubon Life buys ECB’s first home in Frankfurt

  Bloomberg The European Central Bank’s first home in Frankfurt — the iconic Eurotower — has been acquired by Fubon Life Insurance Co. It’s the Taiwanese company’s first deal in Germany. The office building, one of the most recognisable towers in the city’s financial district, served as the ECB’s headquarters until 2015 and is regarded as the birthplace of the euro. …

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• 30 December

  Nomura CEO signals more job cuts in Europe

  

  Bloomberg Next year is shaping up to be another tough one for Nomura Holdings Inc’s employees in Europe, with more job losses likely as the Japanese securities firm shifts business away from the region to more profitable centers in Asia and the US. Japan’s biggest investment bank needs to cut staff while finding ways to spur revenue in the region, …

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• 30 December

  India rule on e-comm giants may hurt shoppers

  

  Bloomberg India’s new rules for foreign e-commerce platforms may be designed to protect local companies from Amazon.com Inc. and Walmart Inc., but consumers are likely to suffer the collateral damage. Online marketplaces must treat all vendors equally by providing the same terms, India’s trade ministry said. In practice, this means barring e-commerce companies from forcing a seller to feature products …

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• 30 December

  Booming budget travel helps Gatwick value soar in deal

  

  Bloomberg Vinci SA is doubling down on budget travel with the $3.7 billion purchase of a controlling stake in Gatwick Airport. London’s second-busiest hub has more than tripled in value since it was bought by Global Infrastructure Partners for about 1.5 billion pounds ($1.9 billion) in 2009, mainly because of the surge in low-cost tourism. The skies looked very different …

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• 30 December

  Sears may stay alive with rescue bid cobbled by Lampert

  

  Bloomberg Sears Holdings Corp. got another chance at survival after Chairman Eddie Lampert put together a last-minute, last-ditch bid to buy the retailer out of bankruptcy. Lampert persuaded three lenders to finance the $4.4 billion offer, according to a statement from ESL Investments. The plan includes keeping 425 stores open and a $1.3 billion financing commitment, the statement said. Bank …

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• 29 December

  Big progress on possible China trade deal: Trump

  

  Bloomberg President Donald Trump said on Saturday that he’d spoken at length with Chinese President Xi Jinping and that “big progress” is being made towards a deal between the world’s largest economies. The agreement will be “very comprehensive” and will cover “all subjects, areas and points of dispute,” the president said in a tweet. Trump’s comment comes as a US …

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• 29 December

  US gas imports up despite export boom

  

  Bloomberg The US may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting new imports. A tanker with fuel from Nigeria has berthed at the Cove Point import terminal in Maryland, while a second ship with Russian gas is idling outside Boston Harbor. Pipeline constraints, depleted stockpiles and a 98-year-old law barring foreign ships …

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• 29 December

  Green power is gold dust for utility investors

  

  Bloomberg If you ever needed convincing there’s money to be made investing in renewable energy companies, just look at the best performer this year on Europe’s main utilities index. As a torrid year for global markets draws to a close, Verbund AG almost tripled in value in 2018 and is beating all of its 27 peers to the top spot …

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