July, 2018

• 16 July

  Banks are building super-speed money highway in the Nordics

  

  Bloomberg The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions. The aim is to make it possible to clear payments and settle accounts within seconds, regardless of currency. The P27 project — so-called for the 27 million people …

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• 16 July

  Citi says Trump ‘brutal’ on trade policies but sees deals by midterms

  

  Bloomberg After US moves on global trade policy that have shredded decades of trust, watch out for deals to be struck before the midterm elections in November, Citigroup Inc. said, flagging a potential rebound in commodity prices towards the year-end that’s aided by still-robust fundamentals. “US trade actions have been brutal and unilateral and have punctured the trust built up …

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• 16 July

  Deutsche Bank Q2 results top estimates

  

  Bloomberg Deutsche Bank AG surprised investors with second-quarter earnings that were higher than analysts had expected, driving one of Europe’s worst-performing bank stocks up the most in more than a year. The Frankfurt-based bank sees net income of about 400 million euros ($468 million) and income before income taxes of about 700 million euros, “considerably” above estimates. The preliminary results …

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• 16 July

  BlackRock, Schroders are in race for Lloyds’ $144 billion mandate

  

  Bloomberg BlackRock Inc. and Schroders Plc are the frontrunners to oversee about 109 billion pounds ($144 billion) for Lloyds Banking Group Plc, one of the biggest mandates of its kind, people with the knowledge of the process said. A decision by the London-based bank is expected in the third quarter, said the people who asked not to be identified because …

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• 16 July

  Wells Fargo breaks from herd on loans, says it’s time to be prudent

  

  Bloomberg With interest rates rising and borrowers keeping up on payments, bank shareholders want to see which lenders are taking advantage. One big firm is hanging back. Wells Fargo & Co., under the thumb of a regulatory asset cap, rattled investors by posting the only decline in loans as the top US banks began reporting quarterly results. While JPMorgan Chase …

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• 16 July

  Airbus wins $9.2bn of jet orders from Asian carriers

  

  Bloomberg Airbus SE kicked off its sales campaign at this year’s biggest air show by announcing $9.2 billion of orders from Asian carriers that are augmenting their fleets to meet surging demand for air travel in the region. Taiwanese startup StarLux Airlines said it is buying 12 A350-1000 aircraft and five of the smaller A350-900s in a deal valued at …

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• 16 July

  US-China trade tariff spat a concern for aerospace: Boeing

  

  Bloomberg Boeing Co. CEO Dennis Muilenburg said he’s concerned about the possible fallout from the US-Chinese trade dispute that’s gathering momentum because his industry relies on the free flow of goods. Speaking at the Farnborough air show south of London, Muilenburg said finding a solution to the dispute is “an important topic to us.” Aerospace is the biggest trade-surplus generator …

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• 16 July

  Japan’s Uniqlo owner finds success abroad, downplays trade war risk

  

  Bloomberg Fast Retailing shares climbed the most since January on signs that the retailer’s steady expansion in overseas markets, now headlined by the face of Roger Federer, is bearing fruit even in the face of risks from an escalating trade dispute. The Uniqlo operator drew on robust overseas sales and a successful early summer line to help boost third-quarter results. …

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• 16 July

  Rival retailers try to catch a ride on Amazon Prime’s tailwinds

  

  Bloomberg Three years ago, Amazon.com Inc. created a summer shopping holiday out of thin air for its most loyal customers. That airspace is considerably more crowded today as its rivals jockey to grab deal-hungry online shoppers. Retailers Target Corp., Best Buy Co., Macy’s Inc. and Walmart Inc. all have special promotions planned to coincide with Amazon’s Prime Day, which begins …

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• 15 July

  France win 2018 FIFA World Cup

  MOSCOW / WAM France won the World Cup Russia in a thrilling final with Croatia at Moscow’s Luzhniki stadiumon on Sunday. France overwhelmed Croatia 4-2 to be FIFA World Cup 2018 champion for second time, after winning in 1998. Croatia was playing in its first World Cup final. For France, it was a first World Cup crown since winning on …

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