September, 2019

• 3 September

  Boris Johnson’s Brexit plans hammering Ireland’s banks

  

  Bloomberg Want a glimpse into how vulnerable Ireland is to a messy Brexit? Look at its banks. Amid Brexit hardliner Boris Johnson’s rise to British prime minister, Bank of Ireland Group Plc is down 25 percent. AIB Group Plc has slumped 37 percent, making it the worst performer in the Euro Stoxx Banks Index since the end of June, as ...

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• 3 September

  India’s big state-run lenders plunge on mega-merger plans

  

  Bloomberg Investors knocked down shares of India’s large state-run banks after the government unveiled its plan to merge several of the lenders, amid concerns that the integration process might delay a bad-loan cleanup and slow lending approvals. The four key large lenders at the center of the merged groups — Punjab National Bank, Canara Bank, Union Bank of India and ...

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• 3 September

  Lloyds buys Tesco home loan book for $4.6b

  

  Bloomberg Lloyds Banking Group Plc is snapping up Tesco Plc’s mortgage portfolio for about 3.8 billion pounds ($4.6 billion) as the British bank bets the UK economy will hold up despite the prospects of a disorderly Brexit. The country’s biggest mortgage lender is tightening its grip, acquiring over 23,000 mortgage customers as part of the deal, according to statements from ...

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• 3 September

  European banks to build mobile payment network

  Bloomberg Seven providers of mobile payment services owned in large part by banks are building a pan-European network, as traditional lenders seek to counter the growing competition from fintechs and global technology giants like Apple Inc. Danske Bank A/S’s MobilePay, which operates in Denmark and Finland, said the association is designed to pave the way for cross-border transactions for as ...

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• 3 September

  SNB didn’t see surge in cash demand: Jordan

  

  Bloomberg The Swiss National Bank’s introduction of negative interest rates didn’t lead to a “substantial change” in the public’s demand for cash, according to President Thomas Jordan. Jordan spoke in Bern on Tuesday, just over a week before European Central Bank (ECB) policy makers are expected to boost monetary stimulus, which could add to pressure on the Swiss franc and ...

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• 3 September

  Big bank headcounts aren’t budging despite job cuts

  

  Bloomberg Pockets of job growth are offsetting some of the dramatic cuts at the world’s largest lenders. Bank of America Corp (Bofa), Wells Fargo & Co, HSBC Holdings Plc and Credit Suisse Group AG added some 12,000 jobs in the first half of the year, according to data compiled by Bloomberg, meaning aggregate staff levels at 16 of the largest ...

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• 3 September

  Stocks poised to drop; pound whipsawed on Brexit turmoil

  

  Bloomberg US stocks were poised to drop at the open as Wall Street resumes trading after the long weekend, while equities in Europe and Asia also declined as investors weighed receding chances for fresh China talks this month. Treasuries edged up, while the pound slipped against the dollar as Brexit brinkmanship raised the possibility of an early election in the ...

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• 3 September

  Rupee, India stocks begin rocky Sept on growth angst

  

  Bloomberg The rupee hit the year’s lowest level and stocks fell the most in nearly eleven months on concerns that foreign funds may continue to head for the exits amid the slump in economic growth. Sovereign bonds rose as the weak data bolstered bets for deeper interest-rate cuts. The rupee slid as much as 1.4 percent, with the stronger dollar ...

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• 3 September

  American keeps cancelling flights, CEO takes heat

  

  Bloomberg When American Airlines Group Inc exited bankruptcy in 2013, its new boss vowed to trounce rivals within a few years. These days, those competitors are delivering the beating. American is underperforming Delta Air Lines Inc and United Airlines Holdings Inc on profit margins and on-time arrivals. Investors are punishing American’s stock, sending the shares to the biggest decline this ...

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• 3 September

  China probes Cathay’s empty oxygen bottles

  

  Bloomberg Cathay Pacific Airways is under investigation by Chinese regulators after emergency oxygen bottles on three flights were found depleted or completely empty, compounding pressure on the Hong Kong airline from mainland authorities. Cabin crew from the flights have been grounded so they can help with the probe, Cathay told staff in a memo. As well as the Civil Aviation ...

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