March, 2018

• 12 March

  Trump trade war may cost global economy $470bn

  

  Bloomberg A full-blown trade war could cost the global economy $470 billion, according to Bloomberg Economics. The US decision to slap tariffs on steel and aluminum may just be the beginning, with President Donald Trump warning of more levies and other economies promising to respond. Cecilia Malmstrom, the European Union’s trade chief, vowed on Monday to “stand up to bullies.” …

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• 12 March

  US stocks pare some gains on tariff jitters; dollar declines

  

  Bloomberg Stock advances on Monday were tempered by uncertainty over the prospect of new tariffs, but many investors remain bullish following last week’s report of stronger US jobs growth. Treasuries gained, while the dollar and most commodities fell. The S&P 500 Index opened higher— anchored by consumer, energy and tech shares but held back by industrial stocks, which would suffer …

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• 12 March

  Austria’s biggest Bitcoin broker seeks gold-standard rules

  

  Bloomberg Bitcoin should be regulated similar to gold—which benefits from simpler compliance rules than stocks or bonds—according to Austria’s biggest broker of the digital token. While cryptocurrency transactions in the European Union above 10,000 euros ($12,310) should be subject to anti-money laundering rules, applying more onerous financial standards could stunt the emerging market for digital cash, the founders of Bitpanda …

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• 12 March

  Aviation sector braces for Brexit with CEOs divided on fallout

  

  Bloomberg At an aviation summit in Brussels, Europe’s main airlines put on a display of unity over the challenges ahead. But the industry’s chief executive officers were divided when it came to the biggest issue of all: Brexit. The UK’s scheduled departure from the European Union in March 2019 has provoked widely varying reactions from carriers in the 28-nation bloc. …

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• 12 March

  Amazon shifts Prime Pantry service to subscription model

  

  Bloomberg Amazon.com Inc. is shifting its Prime Pantry service, which focusses on non-perishable household goods like breakfast cereal, laundry detergent and shampoo, to a $5 per month membership model. Amazon will make the change gradually, encouraging Prime Pantry shoppers to commit to a monthly service charge that gives them free shipping on orders of at least $40, a company spokeswoman …

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• 12 March

  Virgin Atlantic offers cheap coach class in low-cost duel

  

  Bloomberg Virgin Atlantic Airways Ltd will split its coach class into three ticket grades in an effort to head off the challenge presented by an emerging low-cost, long-haul sector led by Norwegian Air Shuttle ASA. The UK carrier plans to introduce an “economy light” fare for passengers prepared to take hand baggage only and happy to have their seats allocated …

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• 12 March

  Consumer staples giants ‘to be valued like risky bonds’

  Bloomberg Consumer staples companies such as Reckitt Benckiser Group Plc and Procter & Gamble Co. should be paying higher dividends to compensate investors for increasing levels of risk, according to the head of a fund that’s beaten 99 percent of peers in 2018. Reckitt’s dividend yield of 2.8 percent and P&G’s of 3.4 percent is similar to the 2.9 percent …

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• 12 March

  Low-cost international flights coming to Brazil from Norwegian Air

  

  Bloomberg Low-cost international flying is coming to Brazil. Norwegian Air Shuttle ASA plans to fly to Brazil from Argentina and London to boost its month-old operations in South America, Chief Executive Officer Bjorn Kjos said in an interview in Buenos Aires. The Scandinavian company has already received authorisation from the Argentine government to operate flights to 13 Brazilian cities. Norwegian …

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• 12 March

  US oil export surge may doom OPEC’s production cut deal

  

  Bloomberg Oil risks sliding back under $60 a barrel as a surge in US shipments to Asia threatens to undermine a deal between OPEC and its allies, according to ING Groep NV. While the producer group complied with a pledge to curb output and ease a glut in 2017, US flows that are gaining a bigger slice of the prized …

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• 12 March

  China slows down on spending on Belt and Road energy projects

  

  Bloomberg China’s thirst for overseas energy investments is slaking, at least by one tally. The nation’s financing for so-called Belt and Road Initiative energy projects dropped 28 percent to $14.3 billion last year from $19.9 billion, according to data released on Monday by Boston University’s Global Development Policy Center. Spending last year included investments in gas pipelines in Malaysia, coal …

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