March, 2018

• 3 March

  BofA sees $6trn stock slump, clashing with Credit Suisse

  

  Bloomberg The swings are getting bigger in stocks, and the divide is getting wider among people whose job is to forecast them. Bank of America (BofA) strategists led by Michael Hartnett say they see another correction coming, similar to the one in early February when about $6 trillion was erased globally. This year’s turbulence is part of a topping process …

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• 3 March

  Norges Bank has inflation target cut after struggling to meet it

  

  Bloomberg Norway lowered the central bank’s inflation target after policy makers struggled to meet the goal, going against the grain in a global debate where many have called for levels to be raised to allow more room to support economies. The government reduced the target to 2 percent from 2.5 percent, bringing it in line with other central banks such …

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• 3 March

  American Air’s spat with United threatens $8.5bn O’Hare revamp

  

  Bloomberg American Airlines Group Inc. is crying foul over a planned $8.5 billion renovation of Chicago’s O’Hare International Airport, claiming a “secret provision” awards additional gates to United Continental Holdings Inc. in a terminal slated to be torn down. The arrangement favouring Chicago-based United was “inserted at the last minute,” American said. United called the claim “disingenuous,” denied there was …

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• 3 March

  New Manila Airport bid challenged by $3bn offer

  

  Bloomberg A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan. The GMR-Megawide venture, which is operating and expanding another airport in central Philippines, said it can increase the airfield …

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• 3 March

  Airbus may stock up on jet parts to avoid Brexit delays

  

  Bloomberg Airbus SE may need to stock up on the parts it needs to build wings at its UK plants to avoid the risk of delays to deliveries once Britain formally leaves the European Union. The European planemaker has warned that it can only ensure the UK factories remain untouched if its operations retain the same level of efficiency. “If …

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• 3 March

  Amazon prepares to hire for web services office in Argentina

  Bloomberg Amazon.com Inc.’s data services division is recruiting for several positions in Argentina, signalling the online retailer is expanding its presence in Latin America beyond Mexico and Brazil. The Seattle-based company is advertising for eight full-time positions for its Amazon Web Services cloud-computing business. The job postings on Amazon’s company website include a senior consultant on migration, sales account managers …

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• 3 March

  JC Penney, Foot Locker pounded as retail jitters resurface

  

  Bloomberg After the strongest holiday-shopping season in more than a decade, investors have grown increasingly impatient with retailers that didn’t enjoy the good fortune. Shares of J.C. Penney Co. and Foot Locker Inc. tumbled in the wake of lukewarm results during the fourth quarter, which included the crucial Christmas season. The chains both posted weaker-than-expected comparable sales, a key benchmark. …

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February, 2018

• 28 February

  Etisalat ‘most valuable telecom brand in region’

  BARCELONA/ WAM Etisalat received ‘The Most Valuable Telecoms Brand’ in the Middle East and North Africa Region presented by Brand Finance, marking the company’s increase in brand value by 40 percent to $7.7billion, higher than any other telecom brand in the region and the only telecom provider to break the $7bn brand value mark in the region. Etisalat is the …

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• 28 February

  US stocks fall as oil weighs on energy shares; dollar gains

  

  Bloomberg US stocks gave up earlier gains and turned lower as oil tumbled following a government report showed expanding inventories and production in what will soon be the world’s largest source of crude. Treasuries climbed with the dollar. “We’re kind of at an inflection point with oil,” said Tom Anderson, chief investment officer of Boston Private Wealth. “It’s hard to …

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• 28 February

  Pound slips as EU’s Barnier says Brexit transition not assured

  

  Bloomberg The pound fell to a two-week low against the dollar and UK government bonds rose as the European Union’s chief negotiator warned a Brexit transition period for the UK was not guaranteed. Sterling slipped versus all of its Group-of-10 peers after Michel Barnier’s comments, which followed the publication of the EU’s draft Brexit treaty that saw the bloc ignore …

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