August, 2019

• 14 August

  RBS may name Alison Rose as its next CEO

  Bloomberg Royal Bank of Scotland Group Plc may appoint Alison Rose as chief executive officer, succeeding Ross McEwan, possibly as soon as next week, Sky News reports, citing unidentified people in the industry. Rose, currently deputy CEO of Natwest Holdings Ltd., would be the first woman to head a major UK high-street bank, Sky said. Banking regulators are considering the ...

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• 14 August

  Brazil central bank caught between trade war, weak growth

  

  Bloomberg Brazil’s central bank will have to weigh potential price pressures from the US-China trade war against prospects of a disappointing recovery when determining how long its easing cycle will last. On one hand, worsening trade tensions may push Brazil’s real lower and consequently dissuade policy makers from more aggressive benchmark interest rate cuts. On the other, fresh signs of ...

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• 14 August

  Coach, Givenchy feel China backlash over t-shirt designs

  

  Bloomberg Western fashion brands are coming under fire in China for designs perceived to run afoul of local political sensitivities, sparking calls for boycotts in a market that accounts for a third of global luxury demand. Less than 24 hours after Versace apologised for t-shirts that were accused of defying the One-China Policy, American fashion label Coach and French luxury ...

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• 14 August

  Boeing Max buyer posts record profit over ‘compensation’

  

  Bloomberg Indian budget carrier SpiceJet Ltd booked income on the expectation of receiving compensation from Boeing Co for grounded 737 Max jets, posting its highest-ever profit in the process. Airlines around the world have sought compensation from Boeing for order delays and losses caused by the grounding of the 737 Max in the wake of two deadly crashes. There’s no ...

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• 14 August

  Sports Direct plunges after its auditor leaves

  Bloomberg Sports Direct International Plc plunged after its auditor quit without a replacement, heightening corporate governance concerns at the British retailer controlled by billionaire Mike Ashley. The shares fell as much as 11 percent in London, bringing their decline over the past 12 months to more than 45 percent. Auditor Grant Thornton UK LLP will end its role on September ...

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• 14 August

  Coca-Cola puts Dasani water in cans after Pepsi’s Aquafina

  

  Bloomberg Coca-Cola Co is putting its Dasani water brand into aluminum cans as the beverage industry faces pressure to reduce its use of plastic. Coke will start selling canned Dasani in the US Northeast next month, with plans to expand the product to other parts of the country in 2020. The announcement comes after PepsiCo Inc said recently it would ...

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• 14 August

  Thai Air Q2 loss doubles as revenue drops

  Bloomberg Thai Airways International’s second-quarter loss more than doubled as the global economic slowdown, fierce competition and a strengthened baht took their toll on revenue. The company reported a $223.7 million loss in the second quarter, compared with a 3.1 billion baht deficit a year earlier, according to a filing to Thai exchange.Revenue fell 10 percent to 42.5 billion baht. ...

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• 14 August

  Aborted landings rise in Mexico City over airport crowding

  

  Bloomberg Shortly before taking office last year, Mexican President Andres Manuel Lopez Obrador upended construction of a $13 billion airport for the nation’s capital. The glitzy, modernist project was riddled with corruption, AMLO said, and congestion could be eased more cheaply with a plan that included improvements for the existing hub. But now, just nine months later, the full extent ...

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• 13 August

  Recession fears spike to 2011-high

  

  Bloomberg Recession fears are spreading among investors at a time when valuations across major assets are looking dangero-usly stretched following years of monetary stimulus, the latest Bank of America Corp survey shows. About a third of asset managers polled believe a global recession is likely in the next 12 months, the highest probability since 2011 — when Europe was engulfed ...

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• 13 August

  Reliance surges on Aramco deal plan

  Bloomberg Reliance Industries Ltd soared the most in more than two years after billionaire Mukesh Ambani revealed a plan to sell a stake to Aramco as part of efforts to pare debt. The conglomerate aims to be a zero-net-debt company in 18 months, Asia’s richest man told shareholders. Aiding that wou-ld be a proposed sale of 20 percent of Reliance’s ...

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