May, 2018

• 9 May

  Oil surges to three-year high as Trump tells buyers to cut back on Iranian crude

  

  Bloomberg Oil rose to a three-year high after the US told buyers of Iranian crude they have six months to curb their purchases or face tough penalties. While the full impact of President Donald Trump’s decision to withdraw from the nuclear deal is still unclear, the re-imposition of far-reaching sanctions is expected to start reducing shipments from the Middle East’s …

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• 9 May

  Exxon Mobil unit sells Italy refinery, fuel terminals to Algeria

  Bloomberg Exxon Mobil Corp. agreed to sell a refinery and three fuel terminals in Italy to Algeria, as the OPEC member seeks to cut fuel imports by refining its own crude. Esso Italiana Srl, a unit of Exxon Mobil in Italy, signed an agreement for the sale of its Augusta refinery in Sicily to Algerian state energy producer Sonatrach, according …

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• 9 May

  Shell’s Canadian Natural sale removes cloud weighing on shares

  Bloomberg Royal Dutch Shell Plc’s plan to sell its $3.3 billion stake in Canadian Natural Resources Ltd. put a dent in the oil-sands producer’s shares, but there’s a silver lining. The impending sale removes a cloud that had loomed over Canadian Natural since Shell took the shares as part of a $7.25 billion deal last year and signalled it would …

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• 9 May

  Wall Street’s quest for China supremacy takes political turn

  

  Bloomberg International politics are looming large over the race among global investment banks to secure coveted permits for taking majority stakes in Chinese securities joint ventures. Switzerland’s UBS Group AG and Nomura Holdings Inc. of Japan in the past week became the first to apply for permission to buy 51 percent stakes in local securities JVs. Both banks acted after …

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• 9 May

  Deutsche Bank mulls US cuts hitting 20% of staff

  Bloomberg Deutsche Bank AG is considering a sweeping restructuring in the US that could result in the firm cutting about 20 percent of staff in the region, according to people briefed on the matter. The bank is nearing a decision and the final reductions may end up lower, one of the people said, asking not to be identified because the …

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• 9 May

  Ireland gets central bank payment of over $2bn

  

  Bloomberg The Irish state received a payment outstripping last year’s 1.8 billion euros ($2.1 billion) from the country’s Central Bank, according to a person familiar with the matter. The payment flowed from the Central Bank’s earnings for 2017, said the person who asked not to be named as the information is private. Details of the latest payment will be published …

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• 9 May

  Overseas loans get cheaper for India banks

  

  Bloomberg India’s banks are getting syndicated loans at razor-thin interest rates from international lenders amid signs the country is moving towards cleaning up $210 billion of non-performing assets. Axis Bank Ltd, IndusInd Bank Ltd, State Bank of India and Yes Bank Ltd are among those reaping the benefits of cheaper funds as confidence in the world’s fastest-growing major economy increases. …

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• 9 May

  RBNZ governor set to steal the show in monetary policy debut

  Bloomberg Rarely has a New Zealand interest-rate decision been more keenly awaited when there’s no change of rates in sight. Reserve Bank Governor Adrian Orr delivers his first Monetary Policy Statement on Thursday and is expected to keep borrowing costs at a record low. Yet there’s considerable interest in how Orr will present the policy outlook. Since taking the RBNZ’s …

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• 9 May

  Trump exit from Iran pact halts $40 billion Boeing, Airbus deals

  

  Bloomberg The US withdrawal from a nuclear accord with Iran slams shut what had been a brief opening for historic aircraft sales by Boeing Co. and Airbus SE to the Islamic Republic. President Donald Trump’s announcement that the US would seek to reimpose sanctions left little hope that the planemaking duopolists will be able to consummate $40 billion in aircraft …

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• 9 May

  Uniqlo owner targets 1.2 billion people with its first India store

  

  Bloomberg Fast Retailing Co., owner of the Uniqlo casual-wear brand, will open its first store in India next year as Asia’s largest retailer looks to tap consumers in a country with more than 1.2 billion people. The Japanese company’s opening of a New Delhi store in the autumn of 2019 has been long in the making. Tadashi Yanai, Fast Retailing’s …

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