May, 2018

• 12 May

  BOJ board stresses need to keep monetary easing

  

  Bloomberg Bank of Japan board members discussed the need for policy sustainability and strengthened commitment to reaching its 2 percent inflation goal during its April 26-27 policy meeting, when it removed language about when it expected to hit that target. A summary of opinions from that meeting indicate that the BOJ looks set to continue on its current course following …

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• 12 May

  At Deutsche Bank’s US unit, anxiety grows before axe falls

  

  Bloomberg The gossip inside the Beverly Hills Hilton kept taking an unexpected turn — towards, of all things, Deutsche Bank AG. In chandeliered conference rooms and marble-floored hallways, Wall Street A-listers chatted, with no shortage of schadenfreude, about the German bank’s recent capitulation: After two decades trying to build one of the world’s top investment banks, it’s settling for something …

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• 12 May

  Air France turbulence spurs KLM to seek change at top

  

  Bloomberg The Dutch arm of Air France-KLM Group is seeking a change in the beleaguered carrier’s management structure in a bid to gain more influence after a protracted French labor conflict led the company’s chief executive officer to resign, according to a person familiar with the matter. KLM is growing increasingly frustrated with mounting losses from strikes at the Air …

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• 12 May

  Tiger Global reaps $3bn from Flipkart investment

  

  Bloomberg Tiger Global Management is purring all the way to the bank after Walmart Inc.’s Flipkart deal. The firm has made about $3 billion after investing $1 billion in Flipkart Group, according to a person familiar with the matter, who asked not to be named. Walmart will acquire a majority stake in India’s biggest online retailer, the companies said. For …

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• 12 May

  S Africa’s Naspers notches Flipkart win

  

  Bloomberg Africa’s largest company just chalked up another major investment coup. Naspers Ltd. netted a cool $1.6 billion profit from the sale of its 11 percent stake in Indian e-commerce startup Flipkart, a deal almost as lucrative as its sale of Polish online auction site Allegro in 2016. The move helps to line the pockets of the media and technology …

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• 12 May

  Garuda cancels some flights as Indonesia’s Merapi erupts

  

  Bloomberg PT Garuda Indonesia, the country’s flag carrier, has cancelled 14 flights to Yogyakarta after a volcano about 19 miles north of the city erupted and forced authorities to close the local airport. The airfield, 520 kilometres southeast of Jakarta on the island of Java, was closed at about 10:42 am on May 11 local time, and reopened at 2:17 …

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• 12 May

  JetBlue reaches labour deal with pilots union

  Bloomberg JetBlue Airways Corp. has reached an initial agreement with its pilots union, marking the first such accord in the carrier’s history. The deal, announced by the Air Line Pilots Association and confirmed by JetBlue, will be reviewed by union leaders, who will make adjustments to the final contract language and decide whether to send it to members for a …

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• 12 May

  Even discount airlines add Wi-Fi as big rivals bare their fangs

  

  Bloomberg Step aboard an ultra-low-cost airline such has Ryanair or Frontier and the amenities can be jarringly Spartan. To keep costs low, free snacks don’t exist and in-flight entertainment is the seatback safety card. How do you distract passengers from this painful minimalism? Well Wi-Fi, of course, a lesson learned by a small but growing group of no-frills carriers. For …

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• 9 May

  Oil jumps on supply bets as Treasury yield tops 3 percent

  

  Bloomberg Oil rallied after President Donald Trump’s decision to walk away from a nuclear deal with Iran, while the dollar slipped and 10-year Treasury yields topped 3 percent ahead of a key bond auction. US stock indexes edged higher. Energy shares advanced after West Texas oil reversed Tuesday’s slump to trade above $71 per barrel as the market came to …

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• 9 May

  BlackRock eyes spare change with bet on small-time investors

  

  Bloomberg BlackRock Inc., already sitting on a mountain of assets, is turning its attention to a much smaller market — your pocket change. The $6.3 trillion money manager said it became an anchor investor in Acorns, an app that allows rookie investors to put spare change from everyday purchases into diversified exchange-traded fund portfolios, according to a news release on …

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