March, 2018

• 14 March

  Fed orders tightening of ICBC’s money-laundering safeguards

  

  Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd., the world’s biggest lender, has been ordered by the Federal Reserve to bolster its protections against money laundering. The Fed found “significant deficiencies” in safeguards at the Chinese bank’s New York branch, the US regulator said in an enforcement order. The company agreed to submit plans to fix its compliance programs within …

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• 14 March

  Inflation misses across the world fuel central bank debates

  

  Bloomberg With so many central banks failing to hit their inflation targets, some are considering changes to the tool kits they use to steer their economies. Norway’s decision to lower its price target is just the latest example, and follows more or less official adjustments in Sweden, Argentina and the euro area. Even in New Zealand, the birthplace of inflation …

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• 14 March

  Cathay Pacific revamp takes airline closer to profit revival

  

  Bloomberg Cathay Pacific Airways Ltd. is finally seeing some respite from its earnings woes. Asia’s biggest international carrier reported a surprise profit in the second half of 2017, with a pick-up in cargo and premium-travel demand helping narrow the full-year net loss to HK$1.26 billion ($161 million). That’s well below analysts’ expectations for a loss of HK$2.26 billion, based on …

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• 14 March

  United Airlines studying ‘premium economy’ for domestic markets

  

  Bloomberg United Continental Holdings Inc. is considering whether to add an upgraded economy section to US flights—a feature typically reserved for overseas markets. The Chicago-based carrier for months has been readying a new “Premium Plus” section with bigger seats and improved dining options. While the company previously said it would add the class to international routes, it’s now considering it …

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• 14 March

  Inditex faces skepticism in online retail war

  

  Bloomberg The owner of the Zara clothing chain is facing skepticism among investors that it can keep up with the likes of Amazon.com Inc. in online retail. While Inditex SA’s e-commerce revenue surged 41 percent last fiscal year and its websites are attracting more than 10 million visits a day, total sales grew at the weakest pace in three years …

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• 14 March

  Run of deadly air crashes shatters calm of uneventful 2017

  

  Bloomberg Three deadly air crashes that have killed 170 passengers in the past 4 1/2 weeks may indicate that 2017, the safest-ever year for aviation, represented a statistical blip. A total of five fare-paying customers lost their lives in just two crashes on planes of 14 seats or more in the whole of 2017, and there were no passenger fatalities …

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• 13 March

  Aramco international listing ‘looks difficult’

  DUBAI / Reuters Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said. The kingdom is counting on being awarded emerging market status by index complier MSCI in June …

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• 13 March

  US stocks retreat after tame inflation report; Bitcoin climbs

  

  Bloomberg US stocks pared earlier gains as a decline in oil and technology shares offset speculation that the Federal Reserve won’t be forced to accelerate the pace of rate hikes. Personnel moves in the White House may also be giving traders pause. The S&P 500 Index rose above 2,800 for the first time since early February before retreating. An inflation …

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• 13 March

  Inflation, trade war talk spark rush to ETFs that will benefit

  

  Bloomberg Fears of inflation and the possibility of a global trade war have rattled financial markets recently, sending cash flooding into exchange-traded funds that stand to benefit and out of those that likely will be hurt. Investors poured a record $334 million into the Vanguard Materials ETF, ticker VAW. At the same time, they pulled $96 million from the Vanguard …

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• 13 March

  German mega-deal to shake up UK energy sector

  

  Bloomberg The 22 billion-euro ($27.1 billion) deal that’s shaking up the world of German utilities also has a very British dimension. EON SE’s acquisition of Innogy SE will combine the two UK business they own, shrinking the country’s Big Six utilities to five at a time when both the government and main opposition party are pressing for lower bills. It …

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