September, 2018

• 22 September

  Amazon to spend $3bn on ‘Go’ stores

  

  Bloomberg If Amazon.com Inc. proceeds with a plan to open 3,000 cashierless stores by 2021, it could cost as much as $3 billion, according to analysts at Morgan Stanley, but also signal a bigger push by one of the world’s largest companies into the grocery business. The e-commerce giant is taking a close look at the future of its AmazonGo …

  Read More »
• 19 September

  UAE, Algeria discuss ways of reinforcing bilateral ties

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the bilateral and economic relations between the UAE and Algeria are based on strong foundations of brotherhood and mutual respect, supported by their historical and cultural ties. He added that the cooperation between the two countries has witnessed ongoing overall developments, especially in the areas of …

  Read More »
• 19 September

  China-US trade war will escalate: Ex-negotiator

  

  Bloomberg The trade dispute between the US and China will continue for the foreseeable future and escalate, and is going to be painful for Americans, according to a former US trade negotiator. “For the foreseeable future, we’re going to be in a tariff world and we’ll see escalation,” said Asia Society Vice President Wendy Cutler, formerly a negotiator at the …

  Read More »
• 19 September

  London house prices post biggest drop since a decade

  Bloomberg London house prices posted their biggest drop in almost a decade in July. Home prices fell 0.7 percent, the biggest decline since September 2009, the Office for National Statistics said. The average property in the capital cost $640,000. Trends in the London property market tend to start in boroughs in the centre and west of the city, before moving …

  Read More »
• 19 September

  Cash-strapped Americans leveraging their homes to pay bills

  

  Bloomberg As US household debt rises and wages stagnate, millions of Americans are tapping into home equity to keep up with day-to-day expenses. Twenty-four million homeowners believe borrowing against home equity is an acceptable way to cover regular bills, according to a Bankrate.com report. Cash-strapped millennials, low earners and the less educated were most likely to think home equity offered …

  Read More »
• 19 September

  Stocks mixed as technology weighs; Treasuries drop

  

  Bloomberg U.S. stocks fluctuated, while Treasuries fell as investors turned attention to the latest Nafta talks. The dollar edged lower. The S&P 500 Index was mixed as technology firms weighed on benchmarks, led by semiconductor maker Advanced Micro Devices Inc., while banks paced gains as the 10-year Treasury yield advanced above 3.07 percent. The dollar fell against most peers and …

  Read More »
• 19 September

  Japan’s Topix caps biggest four-day gain since 2016

  

  Bloomberg Japan’s Topix index completed its biggest advance over a four-day period since November 2016 while the yen remained near a two-month low against the dollar as investors brushed off concerns of a trade war between the US and China. Electronics and machinery shares were the biggest boosts to the benchmark as China’s Ministry of Finance said Beijing is still …

  Read More »
• 19 September

  Bank profits won’t resume pre-crisis levels, says ECB

  

  Bloomberg Euro-area banks probably won’t restore their profits to the peaks seen before the 2008 financial crisis, according to the European Central Bank. The squeeze on profits has resulted from factors including tougher capital requirements put in place since the crisis and banks’ shying away from riskier businesses, the ECB said. Still, firms need to earn an “appropriate return” on …

  Read More »
• 19 September

  Thailand holds key rate as prospect for future hike rising

  

  Bloomberg Thailand’s central bank left its benchmark interest rate unchanged near a record low as expected, with the prospect of a future tightening increasing as more monetary policy committee members dissented. Five of the seven committee members at the meeting voted to hold the one-day bond repurchase rate at 1.5 percent, where it’s been since 2015, according to the Bank …

  Read More »
• 19 September

  RBI has the means to boost rupee from its record low

  

  Bloomberg India’s central bank has enough reserves to defend the rupee, according to the State Bank of India and Nomura Holdings Inc., as the currency shrugged off the government’s supportive measures to plunge to a fresh record. The Reserve Bank of India can sell an additional $25 billion, at least, in the foreign-exchange market, SBI estimates, based on intervention patterns …

  Read More »