July, 2019

• 1 July

  What social media needs now is more humans

  

  Rare is the week that doesn’t bring some new controversy over someone or something being banned from Twitter or Facebook for being too offensive. As regular readers know, I prefer more speech to less speech, but this column isn’t about what content rules private companies should enforce. Today I’m wearing my fair-process hat. These mighty controversies over kicking users off ...

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• 1 July

  US stocks pare gains after record; Treasuries retreat

  

  Bloomberg US stocks rallied to all-time highs after a trade truce with China, though gains eased after measures of manufacturing activity showed growth slowing in the world’s largest economy. Gold, the yen and Treasuries all retreated. The S&P 500 surpassed its intraday record, with chipmakers surging after President Donald Trump agreed to ease a ban on American companies supplying Chinese ...

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• 1 July

  Germany’s DAX set to enter bull market

  

  Bloomberg Germany’s DAX Index is starting the second half of the year with a bang as the benchmark is set to enter a bull market. The gauge rose as much as 1.8 percent in the first hour of trading on Monday, bringing the total gain to 22 percent since a closing low on December 27. The guage is up 1.5 ...

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• 1 July

  Haven currencies weaken

  Bloomberg The dollar fell against the yuan and commodity-related currencies in Asia-Pacific trading on Monday after the US and China backed down from threats to escalate their trade war. Haven currencies weakened. The yen and Swiss franc, which tend to act as refuges in times of market distress, declined against the greenback, while the Australian dollar — a proxy for ...

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• 1 July

  Deutsche CEO poised to return lender to its pre-crisis roots

  

  Bloomberg Christian Sewing is preparing to undo over a decade of failed expansion at Deutsche Bank AG. The chief executive officer may slash headcount by more than a fifth — as many as 20,000 positions — in what’s shaping up to be the troubled lender’s biggest makeover in years, two people familiar with the matter said. Some of the heaviest ...

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• 1 July

  Singapore to issue new digital banking licenses to non-banks

  

  Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” ...

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• 1 July

  Swedish central bank seen holding line against global easing momentum

  

  Bloomberg Riksbank Governor Stefan Ingves, who has likened the world’s major central banks to elephants, is likely to ignore the growing momentum for easing emanating from Frankfurt and Washington, for now. Ingves and his colleagues in Stockholm are seen keeping their benchmark rate unchanged at minus 0.25 percent as they meet this week. It’s a close call whether they will ...

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• 1 July

  Nordea seeks new CEO to accelerate revenue drive

  

  Bloomberg Beset by years of a lackluster results, Nordea Bank Abp is switching out its chief executive officer to find new momentum in its search of top-line growth. The biggest Nordic bank announced that Casper von Koskull, 58, will retire by the end of next year, and could step aside even sooner as the search for a successor has started. ...

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• 1 July

  Indonesia steers cautious rates path amid ‘market rout’

  

  Bloomberg Indonesia’s central bank, one of the most aggressive interest rate hikers in Asia last year, is taking its time to lower rates. Even with the US Federal Reserve signalling it may ease soon and peers including India, the Philippines and Malaysia already cutting, Bank Indonesia is worried about scaring off foreign investors if it moves too much or too ...

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• 1 July

  Aircraft regulators to join forces to restore 737 Max to service

  

  Bloomberg Four of the world’s leading aircraft regulators have agreed in principle to coordinate in restoring Boeing Co’s 737 Max to service once they’re confident that technical updates and new training meet safety standards. The tentative pact is an attempt to avoid the fractious approach taken in grounding the jet after two deadly crashes, people familiar with the discussions said. ...

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