September, 2019

• 17 September

  Apple finally confronts its growth-starved reality

  

  Apple is finally getting real. With its most important product category not growing anymore, Apple Inc. confronted its changing circumstances by doing two unusual things: hustling hard and displaying a willingness to change its business model. The hustle is all about Apple’s willingness to do something against its nature: go wide in the number of devices and internet-tethered products it ...

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• 17 September

  US stocks slip, bonds surge with crude on Saudi attack

  

  Bloomberg US stocks slipped, oil surged and assets considered to be havens in times of trouble climbed after a strike on Saudi Arabia’s crude production heightened geopolitical risk. A drop in automaker shares helped drag the S&P 500 Index down the most in almost two weeks, even as energy producers climbed. Treasuries advanced with precious metals and the yen. Brent ...

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• 17 September

  Oil spike sends India assets lower amid ‘inflation concerns’

  

  Bloomberg India’s rupee halted a seven-day rally and bonds declined after a drone attack on Saudi Arabia’s oil facilities sent global crude prices soaring by the most on record. The currency fell 0.9 percent to close at 71.5963 per dollar and the benchmark 2029 bond yields rose eight basis points to 6.72 percent. The S&P BSE Sensex gauge of equities ...

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• 17 September

  BTG takes cue from Blankfein to go ‘digital’ to weather storms

  

  Bloomberg Andre Esteves once joked that Banco BTG Pactual SA, the Latin American investment bank powerhouse he helped create, would one day become “better than Goldman” — a play on the firm’s name. Now, BTG is chasing Goldman Sachs Group Inc down another path, looking to build a digital retail bank for the masses. The firm, under the BTG Digital ...

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• 17 September

  Bank profits sink in Denmark over ‘negative rates’

  

  Bloomberg Banks in Denmark have seen their aggregate profits sink this year, according to calculations by the industry’s main lobby group, which has repeatedly urged monetary policy makers to provide relief from long-term negative interest rates. Industry profits fell 20 percent in the first half of this year, Finans Danmark said. Denmark’s 17 biggest banks and mortgage lenders reported after-tax ...

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• 17 September

  Inflation hedges may be pointless: ECB

  

  Bloomberg The European Central Bank’s (ECB) latest round of easing sent a signal to institutional investors that their inflation hedges may be growing more pointless by the day. In the northernmost corner of the euro zone, a $51 billion pension fund says ECB President Mario Draghi isn’t giving his industry much hope that things will improve. “So far, the less ...

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• 17 September

  PJT hires BofA’s Baladi to build up Europe unit

  

  Bloomberg PJT Partners Inc has hired Bank of America Corp (BofA) dealmaker Antonin Baladi to build up its European technology, media and telecommunications (TMT) investment banking business, people familiar with the matter said. The London-based banker is joining PJT in a senior role, the people said, asking not to be identified because the information is private. Baladi, who was Bank ...

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• 17 September

  India’s mega mergers fail to lure funds to PSBs stocks

  

  Bloomberg India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares. Fund managers including Aberdeen Standard Investments Ltd and JPMorgan Chase & Co are shying away from increasing their positions in government-owned lenders. As well as poor asset quality at the banks, they cited ...

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• 17 September

  H&M sales growth slows in July, Aug

  

  Bloomberg Hennes & Mauritz AB’s sales growth slowed in the key July and August months, hampering the Swedish retailer’s attempt to end a three-year slump in earnings. Sales growth probably slowed down to 6 percent in those two months from 12 percent in June, Berenberg analysts said, based on calculations from figures H&M reported. The shares dropped as much as ...

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• 17 September

  Walmart tests fulfillment service to match Amazon

  

  Bloomberg Walmart Inc, looking to generate more profit from its online unit, wants to start storing and shipping products for third-party vendors for the first time, just as rival Amazon.com Inc has done for years. The world’s largest retailer is testing a fee-based service called “Fulfilled by Walmart,” US e-commerce chief Marc Lore said at an industry conference. Lore didn’t ...

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