May, 2018

• 28 May

  Markets convulse as Italy seen on course for new elections

  

  Bloomberg Chaos ruled Italian markets as the nation plunged deeper into political turmoil. Yields on the nation’s two-year bonds surged to the highest in four years in holiday-thinned trading, while stocks slumped for a fourth day as President Sergio Mattarella asked economist Carlo Cottarelli to form a government. Earlier League leader Matteo Salvini said that it made no sense for …

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• 28 May

  ECB tests flavour of inflation as big policy discussion looms

  

  Bloomberg This isn’t the inflation the European Central Bank is looking for — but it is inflation. Figures this week are forecast to show euro-area consumer-price growth could have reached its fastest since early 2017 on the back of more expensive oil and a rebound in travel costs. The cost of crude and a weaker euro are also set to …

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• 28 May

  Toronto-Dominion CEO says ‘uncertainty’ Canada’s biggest risk

  

  Bloomberg From trade talks and scrapped deals to elections and government infighting, “uncertainty” has emerged as the biggest obstacle for Canada, according to the head of the nation’s largest lender. “It’s all this uncertainty we’re looking at,” Toronto-Dominion Bank Chief Executive Officer Bharat Masrani said in a BNN Bloomberg interview when asked what’s the biggest risk to his bank’s Canadian …

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• 28 May

  Fed’s Powell, global central bankers give their crisis policies an incomplete grade

  

  Bloomberg Federal Reserve Chairman Jerome Powell and other top central bankers defended their use of unconventional policies during and after the financial crisis, but said more work was needed before they could declare the experiments successful. “The test is not over,” Powell said, less than three weeks before the Fed is expected to raise its policy interest rate for a …

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• 28 May

  National Australia Bank assures compensation to customers hit by outage

  

  Bloomberg National Australia Bank Ltd. said it will ensure no customers suffer financial losses after a nationwide system outage left Internet banking, ATMs and EFTPOS terminals out of service. The event was “incredibly rare” and no personal data was compromised, Cindy Batchelor, NAB Business executive general manager, told reporters in Melbourne, according to a transcript. She said all customers were …

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• 28 May

  African wave of easing mostly ends as price pressures build

  

  Bloomberg Interest rate decisions across Africa in the next two weeks are likely to confirm the continent’s biggest economies have mostly ceased a wave of easing that’s been going since last year. Factors from sticky inflation to rising crude prices may persuade central bankers to freeze borrowing costs. Institutions in Nigeria, South Africa, Angola, Kenya and Mauritius will probably keep …

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• 28 May

  China gives airlines extension over ‘Taiwan’

  

  Bloomberg Most of the foreign airlines that agreed to tweak references to Taiwan to reflect the island as part of the mainland China have been given more time to comply as Beijing extends a crackdown on companies over its stance on disputed territories. Air France-KLM and Deutsche Lufthansa AG are among airlines that have made changes to their websites, while …

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• 28 May

  Kenya Air CEO open to SAA pact as embattled carriers restructure

  

  Bloomberg Kenya Airways Plc could cozy up to rival South African Airways as the embattled companies seek to narrow the gap with the continent’s biggest carrier, Ethiopian Airlines Enterprise. The Nairobi-based airline, sub-Saharan Africa’s third largest by passenger traffic, views a closer relationship with SAA, the No. 2, as a possibility amid turnaround efforts at the unprofitable operators, Chief Executive …

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• 28 May

  Philippine carriers set to raise prices on peso, fuel

  

  Bloomberg Airlines in the Philippines are under pressure to raise ticket prices to offset rising fuel costs and the peso’s plunge to an almost 12-year low, risking lower demand from travelers also hurt by the currency’s decline. “We will have to adjust prices accordingly,” said Lance Gokongwei, president of Cebu Air Inc., which owns the nation’s largest budget carrier. Cebu …

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• 28 May

  Nestlé launches new UAE-produced KitKat range

  

  Dubai / Emirates Business KitKat announced the launch of the first of a kind KitKat Mini Moments Desserts in the Middle East featuring four unique flavours inspired from some of the most renowned desserts in the world. The new mini chocolate bars are produced locally in the UAE with a mini portion, same indulgent taste and sourced from 100% certified …

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