February, 2018

• 18 February

  ECB’s Rimsevics detained by Latvian anti-graft bureau

  

  Bloomberg Latvian central bank Governor Ilmars Rimsevics was detained by the country’s anti-corruption bureau, the prime minister said in a statement on Sunday. The government has full trust in the work of the anti-graft body and won’t interfere in its work, according to the statement sent by the office of Premier Maris Kucinskis. No further details on the reason for …

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• 18 February

  ­Military maneuvers prompt EU tug of war over development bank

  

  Bloomberg As the European Union pushes for a new role in military matters, the bloc has thrust its development bank into the center of a policy struggle that reveals an old fissure over the very nature of the EU project. The European Investment Bank (EIB) is getting prodded to be bolder about lending to defense companies by a France-led group …

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• 18 February

  Qantas faces looming funding crunch to buy new planes

  

  Bloomberg After delaying spending on its fleet for too long during a turnaround program, Qantas Airways Ltd. faces a possible funding squeeze when it’s time to buy new planes, according to S&P Global Ratings. The Australian flag carrier needs to increase investment in its aging fleet of 309 planes before the sum required is too large to handle, S&P said …

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• 18 February

  UK retail sales barely grow as consumers subdued by inflation

  

  Bloomberg UK retail sales barely grew in January, more evidence consumers are reluctant to splash out amid a squeeze from rising prices. Sales increased 0.1 percent from December, far below the 0.5 percent gain forecast by economists in a Bloomberg survey. From a year earlier, sales rose 1.6 percent, the weakest for a January in four years, the Office for …

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• 18 February

  Tesco gets investor pressure to sweeten Booker price

  

  Bloomberg Tesco Plc faces growing investor pressure to sweeten its 3.9 billion pound ($5.5 billion) offer for wholesaler Booker Group Plc ahead of a shareholder vote in less than two weeks. Alpine Associates Management Inc. opposes Tesco’s offer on the existing terms and believes Booker shareholders should vote against the deal, the investor said by email. Alpine has an economic …

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• 18 February

  Amazon’s top apparel victims: Target, Macy’s, JC Penney

  

  Bloomberg US shoppers may be ordering more clothing than socks and underwear on Amazon after all. Amazon.com Inc. is spiriting away share of apparel sales from Target Corp., Macy’s Inc. and JC Penney Co., according to a report by Coresight Research. Amazon Fashion is tied with Target as the second-most-shopped apparel retailer in the US, behind Walmart Inc., as measured …

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• 17 February

  Walmart introduces new apparel brands to check Amazon’s growth

  

  Bloomberg Walmart Inc. is introducing low-cost clothing brands for women, kids and plus-size customers, aiming to lure shoppers as Amazon.com Inc. gobbles up more apparel sales. The store brands include Time and Tru in ladieswear — which will replace the jettisoned DanskinNow label — along with Terra & Sky in plus-size apparel and Wonder Nation for kids, according to a …

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• 17 February

  H&M is overlooking the obvious, fear investors

  

  Bloomberg Investors in Hennes & Mauritz AB left its first ever capital markets day wondering whether the retailer is aware its clothes seem to be going out of fashion. With the value of their H&M shares down about 45 percent since the end of 2016, owners said management gave a lot of details on pretty much everything except the main …

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• 17 February

  Kraft Heinz plunges after weak results boost deal pressure

  

  Bloomberg Kraft Heinz Co. suffered its worst stock decline in more than two years after posting disappointing sales and profit, boosting speculation that the food giant will need a large acquisition to fuel growth. The shares tumbled as much as 7 percent in the wake of the results, which reflected a persistent slump in the US packaged-food industry. Though Kraft …

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• 17 February

  Air France-KLM plans capacity splurge as discount rivals circle

  

  Bloomberg Air France-KLM Group said it will accelerate capacity increases despite an uncertain economic climate in order to defend its share of an air-travel market that’s becoming flooded with discount rivals. The Paris-based carrier will boost seating by up to 4 percent this year in a bid to combat the low-cost challenge, even as fuel expenses jump by a forecast …

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