July, 2018

• 18 July

  Dominion Energy plans $1.5 billion power plant sale

  

  Bloomberg Dominion Energy Inc is working with JPMorgan Chase & Co to seek buyers for two power plants in Pennsylvania and Rhode Island, according to people familiar with the matter, as it sells assets to pay down debt. The Richmond, Virginia-based company could fetch about $1.5 billion from the sales of its natural-gas-fired Fairless and Manchester Street Power Stations, said …

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• 18 July

  Banks are facing a squeeze from Trump’s trade war

  

  Bloomberg For banks that finance trade in Asia, the tariff war between the US and China couldn’t come at a worse time. Lenders globally have faced declining revenue from the $9 trillion business of funding cross-border commerce for five years running, thanks to a drop in margins that is persisting in Asia. Now, as the trade dispute between the world’s …

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• 18 July

  BOE to give view on Brexit deal: Carney

  

  Bloomberg Mark Carney thrust the Bank of England (BOE) into the Brexit debate again, saying he’ll give a thumbs up — or down — to any divorce deal that British Prime Minister Theresa May reaches with the European Union. “We will have to give our view on whether or not the arrangements are consistent with our ability to fulfill our …

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• 18 July

  ‘Tariff war could spur broad market rout’

  

  Bloomberg BlackRock Inc. Chief Executive Officer Larry Fink said that intensifying global trade tensions may spur a broad market downturn and a slowdown in the US economy. Stocks could drop 10 percent to 15 percent and US gross domestic product would start slowing in 2019 if the Trump administration sees through its threat to levy tariffs on an additional $200 …

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• 18 July

  UBS abandons call for yuan gain in 2018

  

  Bloomberg UBS Group AG abandoned its forecast for the yuan to appreciate this year, anticipating that the trade war will continue to put pressure on the currency, hurt China’s economic growth and spur the country’s policy makers to unleash more liquidity. “With underlying pressures on CNY set to intensify and China’s current-account surplus likely to decline notably, we see CNY …

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• 18 July

  Pakistan lets rupee devalue again as finances wobble

  

  Bloomberg Pakistan’s central bank devalued the rupee for the fourth time since December, according to bankers with knowledge of the matter, as economic pressures persist before a national election in nine days. The currency, whose rate is set by the central bank, dropped as much as 5.3 percent to 128 per dollar at the close, according to State Bank of …

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• 18 July

  Airbus’ C Series gambit gets boost with $5.4bn jet deal

  

  Bloomberg Airbus SE’s bet on a slow-selling Canadian jetliner is paying off. The European planemaker reached its second 60-plane deal in a week for the A220 aircraft, this time through a pact with a planned US carrier backed by airline entrepreneur David Neeleman. The agreement is valued at $5.4 billion before customary discounts, the same as last week’s order by …

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• 18 July

  Ethiopian Airlines makes first flight to Eritrea this century

  

  Bloomberg Ethiopia’s national carrier is making its first regular passenger flight to neighbouring Eritrea since a war two decades ago, underlining a surprise rapprochement between the former foes who have vowed to rebuild economic links. The Ethiopian Airlines Group flight left the capital, Addis Ababa, on July 18, heading for Eritrea’s main city, Asmara. It’s the first flight in what …

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• 18 July

  Shake Shack to open in Philippines in 2019

  

  Bloomberg Shake Shack Inc. is stirring up shares of SSI Group Inc. after the burger chain founded in New York selected the upscale Philippine retailer as its local partner. News that the world famous ShackBurger will be served in Manila beginning in the spring of 2019 sent shares of licensee SSI rising as much as 18 percent, the most in …

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• 18 July

  Boeing to sell freighters to Russia’s Volga-Dnepr

  

  Bloomberg Boeing Co. sealed a deal to sell 777 freighters with a sticker price of almost $10 billion to Russia’s Volga-Dnepr Group, the world’s largest carrier of outsize cargo. Volga-Dnepr signed a letter of intent to buy 29 of the 777s and confirmed a $2 billion order for five 747-8 freighters, Boeing said in a statement. The 777F is priced …

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