August, 2019

• 26 August

  ECB sees need to counter doubt over ability to hit inflation goal

  

  Bloomberg European Central Bank (ECB) officials expressed concern at their latest policy meeting that some observers doubted their ability to restore price stability, prompting the Governing Council to plan for potential fresh monetary stimulus. Council members broadly agreed that a downward trend in inflation expectations was a cause for concern, and that the euro area’s economic slowdown was likely to ...

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• 26 August

  CIBC reports 21% jump in third quarter bad loans

  

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) is seeing an uptick in bad loans, providing validation to short-seller concerns that credit conditions are worsening. Investors and analysts have been watching for signs of deteriorating loans since short sellers earlier this year said that CIBC and other banks are ill-prepared for worsening credit conditions. CIBC’s soured-loan provisions totaled C$291 million ($219 ...

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• 26 August

  HSBC cuts 10 banking jobs in Japan, Australia

  

  Bloomberg HSBC Holdings Plc cut about 10 banking jobs in Japan and Australia, eliminating the merger advisory teams based in those countries. The London-based bank will instead serve clients out of Hong Kong, Singapore and Southeast Asia, the person said, asking not to be identified because the matter is private. The debt capital markets group and sector teams were largely ...

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• 26 August

  Third-biggest crypto coin barely causes a ripple amid rally

  

  Bloomberg Amid the astonishing recovery this year by most of the world’s biggest cryptocurrencies, one stands out. The token known as XRP has tumbled about 20%, while eight of the other 10 biggest coins are posting outsized gains. Even after losing about $3 billion in market capitalisation in 2019, XRP remains the third-largest digital asset after Bitcoin and Ethereum. Many ...

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• 26 August

  Target, Disney partner on store displays to grab holiday sales

  

  Bloomberg Target Corp will create a dedicated section for Walt Disney Co products inside some of its stores just in time for the holidays, looking to boost sales of everything from dolls to lightsabers. The discount retailer will open Disney-themed sections in 25 stores in early October, with another 40 coming within the next year, the companies said in a ...

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• 26 August

  British Airways pilots to strike for three days in Sept

  

  Bloomberg British Airways pilots will strike for three days next month after their union said the latest pay proposals from the carrier are insufficient. Members of the British Airlines Pilots’ Association (Balpa) will walk out on September 9, 10 and 27, the labour group said in a statement. Balpa had been considering its position since mediated talks with management at ...

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• 26 August

  Blockbuster deals in 2019 boost Canada’s airline stocks by $5bn

  

  Bloomberg The year has been one for the record books when it comes to Canadian airline stocks. The country’s four biggest carriers have seen double-digit share price growth amid a myriad of deals and stake purchases. The corporate transactions have added a total of about $5.3 billion in market value to the companies, according to data compiled by Bloomberg. Amazon.com ...

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• 26 August

  Amazon joins Walmart in blaming Tesla’s solar panels for store fires

  

  Bloomberg Walmart Inc isn’t the only corporation that has seen its Tesla Inc solar panels catch fire. Amazon.com Inc said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to ...

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• 26 August

  South Africa seizes Air Tanzania jet

  Bloomberg South Africa’s seizure of an Air Tanzania aircraft was linked to a land compensation claim that dates back to the 1980s, the East African nation’s government said. The case doesn’t involve the airline and is part of a wider dispute between Tanzania and Hermanus Steyn, a South African investor, Hassan Abbasi, a spokesman for the Tanzanian government, said in ...

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• 26 August

  Kraft Heinz would be third largest junk issuer if ratings cut

  

  Bloomberg Kraft Heinz Co could end up as one of the biggest junk issuers if it doesn’t take its debt load by mid-2021. S&P Global Ratings said it could cut the packaged-food company to speculative-grade if it doesn’t boost earnings, pay down some of its more than $30 billion of long-term debt, or both. Roughly two-thirds of those borrowings currently ...

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