August, 2018

• 7 August

  Stocks rise on economy optimism as dollar slips

  

  Bloomberg US stocks rose within striking distance of records amid optimism economic growth can continue apace even as the world’s two largest economies square off in a trade skirmish. The dollar slid the most in two weeks. The S&P 500 Index hit the highest level since January 29 and the Cboe Volatility Index dipped below 11 for the first time ...

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• 7 August

  China shares post biggest gain in more than two years

  

  Bloomberg Chinese equities powered higher on Tuesday as the Shanghai Composite Index posted its biggest gain in more than two years. Infrastructure and property companies were some of the best performers after a report in state media raised hopes for further policy support. The Shanghai benchmark climbed 2.7 percent, its first advance in a week, to close at 2,779 points. ...

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• 7 August

  Shell sees hope in gas after decades of oil strife in Nigeria

  

  Bloomberg After decades of difficulties in Nigeria over crude theft, pollution and oil-related corruption, Royal Dutch Shell Plc still feels optimistic a fossil fuel can improve life in the country. The Anglo-Dutch oil major is seeking to develop Nigeria’s domestic energy market around natural gas. It’s plentiful, harder to steal, better for the environment and can underpin a robust industrial ...

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• 7 August

  Sempra CEO says he’s holding ‘constructive’ talks with activists

  

  Bloomberg Sempra Energy Chief Executive Officer Jeff Martin said he’s holding “constructive” talks with activist investors pressing for the company to shed assets and shake up its board. But Elliott Management Corp. and investor partner Bluescape Resources have been frustrated by the pace of the discussions and had hoped for a settlement before Sempra’s second-quarter earnings report, according to people ...

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• 7 August

  Jeddah combines ancient heritage, modern advancements

  

  RIYADH / WAM The Government of Jeddah has combined its ancient heritage and its modern advancements through its public and private museums, the Corniche, the historic Jeddah wall, its entertainment and sporting locations, and especially its diving facilities. The Khuzam Palace Museum, part of the King Abdul Aziz Palace, is one of the city’s most important museums because of its ...

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• 7 August

  Commerzbank profit beats estimates but pays more for it

  

  Bloomberg Commerzbank AG’s long search for scale is finally starting to pay off, but it’s costing more than expected. Profit and revenue at Germany’s second-largest listed bank beat the highest estimate in the second quarter, as it expanded its business more aggressively. However, its core capital level dropped surprisingly, due to it taking on more risk in its corporate loan ...

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• 7 August

  Credit Suisse hires Julius Baer bankers for Indonesia clients

  

  Bloomberg Credit Suisse Group AG hired private banker Heinz Puth and three others from Swiss rival Julius Baer Group Ltd. to boost its Singapore team focussing on wealthy Indonesians, according to a person familiar with the matter. Puth and the former Julius Baer relationship managers will report to Johanes Oeni, who heads Credit Suisse’s private banking market group for Indonesia, ...

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• 7 August

  Big banks face more scrutiny as Aussie regulator embeds staff

  Bloomberg Australia’s securities regulator will embed supervisors in the big-four banks in a push to get tough on corporate misbehaviour after a string of scandals. Australian Securities & Investments Commission (ASIC) staff will be placed inside Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank Ltd., Australia & New Zealand Banking Group Ltd. and embattled wealth manager AMP Ltd. ...

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• 7 August

  Danske’s woes grow as Denmark opens money laundering probe

  

  Bloomberg Danske Bank A/S’s legal jeopardy is deepening. Prosecutors in Denmark said they had opened a criminal investigation into the bank, acting on “multiple complaints” that the Estonian unit of the country’s biggest lender was used to funnel billions of kroner of dirty money. The prosecutors said that they had been following “the case very closely” for a long period ...

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• 7 August

  Nedbank’s asset growth expanding slowly

  Bloomberg Nedbank Group Ltd. forecast that interest-earning banking assets will increase at a rate below that of nominal growth in South Africa’s gross domestic product, after earlier predicting it will be in line with the economy’s expansion. The lender’s credit-loss ratio, which rose 6 basis points to 53 basis points, will also increase slightly above the level achieved in 2017 ...

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