August, 2018

• 4 August

  French speakers apply in Paris for new credit role leaving London

  Bloomberg Bond-market strategists interested in Bank of America Corp.’s latest opening probably shouldn’t apply if they can’t speak French or don’t want to live in Paris. “Although not certain as yet, the role is very likely to be based in Paris as part of the firm’s Brexit transition,” the US lender said in a job advert for a credit strategist …

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• 4 August

  Volatility is back in Japan’s bonds as traders confront Kuroda

  

  Bloomberg The day after Haruhiko Kuroda pledged to allow greater swings in Japan’s giant bond market while pushing back against rapid increases, traders are putting him to the test. Moves in 10-year government debt futures were so extreme — a drop of as much as 0.5 percent, the most in almost two years — that they triggered an emergency margin …

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• 4 August

  Billions put at risk for US LNG exports on China 25% tariffs

  

  Bloomberg China is threatening to impose a 25 percent tariff on imports of US liquefied natural gas, potentially a major blow to an emerging American business. It’s the first time the fuel has been ensnared by the trade war, coming as part of a $60 billion response to a Trump administration plan to impose more levies. The move adds new …

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• 4 August

  Eskom’s borrowing cost falls in first sale since 2015

  

  Bloomberg It’s turning into a good week for Eskom Holdings SOC Ltd., South Africa’s state-owned electricity company. The cash-strapped utility’s borrowing costs fell as it tapped international debt markets for the first time in more than three years, barely a week after it secured a $2.5 billion loan from China Development Bank. It also moved closer to a wage deal …

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• 4 August

  Saudi Arabia reduced crude production in July

  Bloomberg Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates familiar with the matter. The biggest member of the Organization of Petroleum Exporting Countries pumped 10.3 million barrels a day in July, according to the delegates, who asked not to be identified because the data is private. The kingdom …

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• 4 August

  British Airways owner IAG hurt by ‘strikes’, US fare drop

  

  Bloomberg British Airways owner IAG SA’s peak summer season is being spoiled by a combination of air traffic control strikes, exchange-rate swings and a dip in fares on key US routes. IAG shares fell the most in five months on August 3 after walkouts by French controllers pushed its Vueling arm to a wider second-quarter loss following a spate of …

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• 4 August

  Second-hand Airbus superjumbo bumped to discount sector

  

  Bloomberg A second-hand Airbus SE superjumbo will fly for Norwegian Air Shuttle ASA later this month, giving a model once seen as the epitome of luxury a first taste of discount travel. The A380 has been drafted in to operate between London Gatwick airport and New York’s John F. Kennedy hub after the grounding of some of Norwegian’s own Boeing …

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• 4 August

  Kellogg struggles to grow in US business even as earnings beat

  

  Bloomberg Kellogg Co.’s home market remains a challenge. The company posted second-quarter sales and profit that topped analysts’ estimates and raised its revenue forecast for the year. But struggles to ignite growth in its US cereal and snacks businesses damped investor enthusiasm. The shares fell as much as percent 3.8 percent to $66.79, the biggest intraday decline in three months. …

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• 4 August

  Synchrony’s Walmart loss puts Sam’s Club renewal in focus

  

  Bloomberg Synchrony Financial lost out to Capital One Financial Corp. for a credit-card contract with retail giant Walmart Inc. Now, the company is poised to defend its turf for a Walmart subsidiary. Capital One is interested in examining the Sam’s Club portfolio currently held by Synchrony, according to people familiar with the situation, who asked not to be identified because …

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• 1 August

  Oil falls as trade war risks persist

  

  Bloomberg Oil fell to the lowest in more than a week amid a surprise jump in US crude inventories and an escalating trade dispute between the US and China. Futures in New York fell as much as 1.4 percent. The American Petroleum Institute was said to report US stockpiles rose 5.59 million barrels last week. Meanwhile, the US will propose …

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