November, 2019

• 6 November

  Asia’s big trade pact will hurt the global economy

  From a political perspective, India’s decision overnight to walk away from immediate involvement in a trade zone encompassing half the world’s population and a third of its economy is good for almost everyone. The government of Prime Minister Narendra Modi no longer needs to make difficult concessions on agricultural trade. Other members of the Regional Comprehensive Economic Partnership group (RCEP) ...

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• 6 November

  Yes Bank should cut loose talk and close this rescue

  

  Yes Bank Ltd. has changed. In the past, the troubled Indian lender kept quiet rather than tell shareholders the truth about its bad loans. Now, under new management, it can’t stop talking about an impending rescue. If the former approach nearly destroyed the bank, this latest strategy isn’t going to help fix it. In early September, CEO Ravneet Gill told ...

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• 6 November

  Carmaker Peugeot’s Fiat takeover is great for some investors

  

  Peugeot SA’s equity holders might not think much of its takeover of Italy’s Fiat Chrysler Automobiles NV but bondholders appear to love the idea. Fiat’s credit spreads (the extra yield above the benchmark) have tightened by as much as one-third after news of the deal emerged, accompanying a jump in the company’s share price. Peugeot’s shares fell sharply because of ...

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• 6 November

  WeWork isn’t only wreck hiding in your portfolio

  

  Look inside your mutual fund: WeWork isn’t the only unicorn with a valuation so slippery that it’s worth $47 billion one day and $0 the next. Back in June 2015, fund managers from Fidelity Investments to BlackRock Inc. valued their stakes in Uber Technologies Inc. somewhere between $33 and $40 a share. The ride-hailing company is now trading at the ...

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• 6 November

  Stocks drift amid mixed earnings; Treasuries gain

  

  Bloomberg Stocks in Europe struggled for traction alongside US index futures as a raft of corporate earnings and economic data presented a somewhat muddy outlook for global growth. Treasuries rose after dropping for three days. The Stoxx Europe 600 Index erased a modest gain after data showed the euro-area economy remained close to stagnation last month amid a broad downturn ...

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• 6 November

  HK exchange profit drops most in 3 years

  

  Bloomberg Hong Kong’s stock exchange suffered its worst slide in profit in almost three years as the Asian financial hub is buffeted by social unrest and political tension between the US and China. Facing turmoil on multiple fronts, trading slid in the period and the number of stock listings this year is running at about half the pace of 2018. ...

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• 6 November

  India will be fastest-growing market over 20 years: Boeing

  

  Bloomberg India will be the world’s fastest-growing aviation market over the next two decades, according to Boeing, which expects the South Asian nation to need 2,380 planes in that period at a value of $330 billion. The US manufacturer’s forecast is slightly higher than the one it made in December 2018, when it said India would require 2,300 new aircraft ...

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• 6 November

  Singapore Air says HK unrest hurts demand

  

  Bloomberg Singapore Airlines Ltd said travel demand to Hong Kong remains weak as months of protests and violent unrest have discouraged people from visiting the city. The airline cancelled some flights when there weren’t enough passengers or shifted the load to other services, Chief Executive Officer Goh Choon Phong said at an earnings briefing in Singapore. “The impact is probably ...

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• 6 November

  Tapestry rises on profit even as Kate Spade sales decline

  Bloomberg Tapestry Inc posted earnings that topped analysts’ estimates even amid a sharp sales decline at its Kate Spade brand, which has struggled to rebound after a period of heavy discounting and flash sales. Excluding some items, profit of 40 cents a share topped projections of 36 cents. The Coach brand, which accounts for more than two-thirds of Tapestry revenue, ...

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• 6 November

  Norwegian to tap markets in bid to raise $300 million

  

  Bloomberg Norwegian Air Shuttle, the debt-ridden low-cost airline, is returning to capital markets in a bid to raise potentially more than $300 million. Norwegian is contemplating a private placement of as many as 27.25 million new shares, representing about 20% of its share capital. The company also wants to sell convertible bonds for as much as $175 million, it said. ...

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