July, 2019

• 15 July

  Central bankers readying to fight another downturn

  

  Bloomberg Central bankers readying to fight another economic downturn are tossing hand grenades rather than firing bazookas. Federal Reserve Chairman Jerome Powell and European Central Bank President Mario Draghi stand ready alongside many of their counterparts to cut interest rates to bolster the weakest growth in a decade and lackluster inflation. Yet they have little to work with and, perhaps ...

  Read More »
• 15 July

  Deutsche sees India yields drop to lowest

  

  Bloomberg Deutsche Bank AG is predicting a big decline in India’s sovereign bond yields to levels last seen in 2009. The yield curve is pricing in a deeper trough on policy, with expectations of more rate cuts from the Reserve Bank of India and a change in the way the authority manages liquidity to help transmit lower borrowing costs through ...

  Read More »
• 15 July

  Citigroup counts on cost cuts, consumers as trading sputters

  

  Bloomberg At Citigroup Inc, bean counting and boring banking are in ascendance. Trading, not so much. The lender cut costs deeper than analysts expected while its consumer division posted its strongest second-quarter since 2013. Together, that outshined the firm’s Wall Street operations, where dealmakers eked out a surprise increase in revenue from underwriting debt while traders struggled. “We have good ...

  Read More »
• 15 July

  World Bank appoints State Bank of India’s Anshula Kant as CFO

  Bloomberg The World Bank Group appointed Anshula Kant of the State Bank of India as chief financial officer, according to a statement in Washington. Kant is currently a managing director at SBI and previously served as its CFO, the World Bank said. It hasn’t yet announced when Kant will start the new job. Kant will report to World Bank President ...

  Read More »
• 15 July

  Facebook’s crypto plan unites Trump, Democrats

  

  Bloomberg It’s long seemed that nothing could unite President Donald Trump and Democrats on Capitol Hill. Then Facebook decided to create a cryptocurrency. Washington’s bipartisan distrust of the social-networking giant will be on display as it defends the digital-money proposal in two congressional hearings. In a sign that the testimony is likely to be an ordeal for Facebook, Trump took ...

  Read More »
• 15 July

  Alitalia rescue weeks away as Delta, Atlantia line up to bid

  

  Bloomberg Alitalia’s rescue by Italy’s state-owned railway and investors including US carrier Delta Air Lines Inc may still be weeks away despite a looming deadline for offers for the loss-plagued carrier, people familiar with the matter said. Ferrovie dello Stato SpA is set to tell the carrier that its rescue plan has attracted potential investors, including Delta and Atlantia SpA, ...

  Read More »
• 15 July

  Heathrow speeds ‘runway spending’ before approval

  

  Bloomberg London’s Heathrow Airport intends to speed up spending on its controversial third runway, even before getting approval for the 14 billion-pound ($18 billion) project, according to the industry regulator. Europe’s busiest airport plans to boost early spending to 2.9 billion pounds, in 2014 prices, so it can stay on schedule for a planned 2026 opening, the Civil Aviation Authority ...

  Read More »
• 15 July

  Fast Retailing profit falls short despite China gains

  Bloomberg Fast Retailing Co’s profit fell short of analyst estimates as weakness in the Uniqlo owner’s home market of Japan overshadowed a strong showing in overseas markets, particularly China. Operating profit rose to 74.8 billion yen ($692 million) in the three months ended on May 31, according to a statement from Asia’s largest retailer. That compares with analysts’ average estimate ...

  Read More »
• 15 July

  American and United extend Boeing 737 Max grounding

  

  Bloomberg Two of the major US airlines that fly Boeing Co’s grounded 737 Max have taken the plane off their schedules until early November, the latest sign that the jet may not resume commercial service this year. American Airlines Group Inc adjusted its schedule for the fifth time to accommodate the Max’s lengthening absence since its March 13 grounding. The ...

  Read More »
• 15 July

  Amazon taps celebs to create Prime Day buzz

  Bloomberg Will Smith is selling water. Kobe Bryant is pushing deodorant. Mark Wahlberg is peddling protein powder. Amazon.com is tapping high-profile actors, athletes and social-media sensations like never before to maintain buzz around its Prime Day summer sale, now in its fifth year and battling increasing competition from rivals. Discounted pressure cookers and gadgets just aren’t enough to stand out ...

  Read More »