July, 2019

• 24 July

  Stocks turn mixed on results, Treasuries gain with bonds

  

  Bloomberg US stocks were mixed as investors mulled weak economic data and mixed corporate results, including an unexpected quarterly loss for Boeing. Treasuries advanced along with bonds in Europe. In addition to Boeing, Caterpillar weighed on the Dow Jones Industrial Average after the equipment maker projected earnings at the low end of forecasts. UPS helped to keep the S&P 500 ...

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• 24 July

  Health insurers sink as rising spending gauge alarms investors

  

  Bloomberg Health-insurance stocks sank across the board after Anthem Inc became the third insurer to report it is paying out a higher percentage of the premiums it takes in to cover patients’ medical claims. Investors watch the so-called medical-loss ratio reported by health insurers closely. The number is a key measure of the companies’ financial health; when the ratio goes ...

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• 24 July

  Deutsche turnaround fizzles as lower rates loom longer

  

  Bloomberg Just a few weeks into Deutsche Bank AG’s biggest restructuring yet, the complications are already starting. Germany’s largest lender posted the worst second-quarter trading result of the big Wall Street banks. The bottom line was below expectations after a $3.8 billion restructuring charge. In an interview with Bloomberg Television, finance chief James von Moltke signaled that some turnaround targets ...

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• 24 July

  EU lenders may face tough laundering rules

  

  Bloomberg European Union (EU) officials called for a further tightening of the bloc’s anti-money laundering rules after identifying a host of failures that led to scandals across the financial system. Banks at times completely ignored requirements to stop illicit financial flows and supervisors were ill-equipped and often slow to deal with the issues, the European Commission said on Wednesday. Handing ...

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• 24 July

  Bill Evans sees RBA cutting to 0.5%, possible extra measures

  

  Bloomberg Australia’s central bank will lower interest rates twice more and could adopt a package with the second easing to allow lenders to pass on the reduction in full, Westpac Banking Corp Chief Economist Bill Evans said. Evans brought forward his forecast for the next cut to October from November — saying by then the labour market will have deteriorated ...

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• 24 July

  Standard Life, Lloyds settle ‘fund row’

  Bloomberg Lloyds Banking Group Plc and Standard Life Aberdeen Plc have reached a settlement in what was one of the most high-profile disputes in the UK fund management industry’s history. Lloyds, which wanted to pull a 104 billion-pound ($129 billion) mandate, will pay the asset manager 140 million pounds in cash as compensation, according to a statement from Standard Life. ...

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• 24 July

  Return to easy money poised to slam banks in US, Europe

  

  Bloomberg As policy makers globally prepare to cut borrowing costs again, banks around the world are feeling the heat. Rock-bottom interest rates can help stoke growth, but they also put the squeeze on lending margins. Big US banks including JPMorgan Chase & Co and Citigroup Inc, which reported second-quarter earnings, are already seeing the revenue impact of declining interest rates ...

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• 24 July

  JetBlue’s ‘disappointed’ CFO jabs Airbus on A321 delays

  

  Bloomberg JetBlue Airways Corpexpressed dismay with Airbus SE after the US carrier learned it will get less than half the A321neo jets it was expecting this year because of production snarls that are delaying deliveries of the European planemaker’s biggest single-aisle model. The New York-based airline will get a maximum of six of the aircraft this year, compared with the ...

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• 24 July

  British Airways says pilot strike may cost $50 million a day

  

  Bloomberg British Airways pilots’ planned strike may cost the airline as much as $50 million a day, the airline said in a lawsuit as it seeks to halt the walkout. Pilots at the airline backed industrial action — including what would be their first strike in about four decades — with a 93 percent majority, the British Airline Pilots Association ...

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• 24 July

  Malaysia Airlines gets Morgan Stanley as its strategic adviser

  

  Bloomberg Khazanah Nasional Bhd has hired Morgan Stanley to look at strategic options for Malaysia Airlines Bhd, according to an official in the prime minister’s department. The investment bank was brought in as an independent adviser for the airline’s recovery plan, Md Farid Md Rafik, a deputy minister in Mahathir Mohamad’s department, said in parliament on Wednesday, confirming a Bloomberg ...

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