August, 2019

• 18 August

  Deutsche Bank chairman is searching for successor

  

  Bloomberg Deutsche Bank AG Supervisory Board Chairman Paul Achleitner is searching for his successor after overseeing a tumultuous period marked by multiple restructurings, top management changes and a slumping share price. The search is partly in response to shareholder criticism about succession planning, though Achleitner intends to complete his term expiring in 2022, people with knowledge of the matter said, ...

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• 18 August

  Another bank turns gloomy on ‘trade war’

  Bloomberg Berenberg, Germany’s oldest bank, has given up hope that US-China trade tensions will subside any time soon — with severe consequences for export-reliant nations. Economists slashed their 2020 growth forecasts for countries including Japan, Germany, France, Italy and the United Kingdom. They expect the euro area will expand by just 0.9%, down from 1.4% predicted only a few months ...

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• 18 August

  Banks worried over S Africa’s new credit ammendment bill

  

  Bloomberg South African banks are concerned that some of their customers will get away with not having to repay their debt. President Cyril Ramaphosa signed the National Credit Amendment Bill into law, setting the groundwork for over-indebted consumers to have payments suspended, in part or full, for as many as 24 months, or even scrapped if their financial situation has ...

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• 18 August

  BofA says, municipal-bond yields won’t turn negative

  Bloomberg Bank of America Corp., (BofA) the biggest underwriter of state and local government debt, isn’t worried that municipal-bond yields will turn negative, even if they do in other parts of the US fixed-income markets. Bond yields have been plunging fast, making it seem possible that American investors could actually wind up paying governments to lend them money — as ...

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• 18 August

  Macy’s stock falls on outlook, department store chain fears

  

  Bloomberg Macy’s Inc plunged after a worse-than-expected second quarter underscored investor fears that the teetering department-store industry is slated for more pain ahead. The retailer, the first of its peers to report earnings, slashed its profit outlook for the year — and it warned that the cut doesn’t even take into account the next round of Chinese tariffs, some of ...

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• 18 August

  US backs F-16 sale to Taiwan, drawing warning from China

  

  Bloomberg The Trump administration has informally told Congress that it supports a potential sale of F-16 fighter jets to Taiwan, drawing a preemptive warning from China at a critical moment in trade talks with the US. The State Department has informally told key House and Senate committees that it supports the $8 billion sale of 66 F-16s, according to two ...

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• 18 August

  China state agency unveils rocket for commercial use

  

  BEIJING / WAM A Chinese government space agency successfully launched its first rocket meant for commercial use as firms in the country compete to join a commercial satellite boom, Reuters quoted state television CCTV as saying. Smart Dragon-1 rocket, which weighs 23 tonnes and was developed by a unit of China Aerospace Science and Technology Corp (CASC) successfully delivered three ...

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• 18 August

  Cathay flight staff unions regret CEO’s departure

  Bloomberg Cathay Pacific Airways’s flight attendants unions said they were “saddened” and “regret” the departure of CEO Rupert Hogg and Chief Customer and Commercial Officer Paul Loo. In a Facebook post published on Sunday, the unions representing flight attendants of Cathay Pacific and sister firm Hong Kong Dragon Airlines said the resignations were made to “take up the collective responsibility ...

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• 18 August

  Virgin Galactic unveils new space base, but no flights yet

  

  Bloomberg Caviar and seared tuna will be on the menu for Virgin Galactic astronauts in training when they arrive at the company’s new home in the desert scrublands of southern New Mexico. As they gaze out at the mountains east of the otherworldly structure, a master of espresso arts will dose out shots from a barista island, accompanied by multiple ...

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• 18 August

  Customs computers restored at US airports

  Bloomberg Entry for people arriving at airports across the US began returning after a Customs and Border Protection computer system failed, forcing the manual processing of passengers on a busy summer travel day. The system was being restored and passengers being processed, the agency said in a statement at 6:25 pm New York time. The failure was isolated to operations ...

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