June, 2019

• 17 June

  Doubt on yields may ruin this sector’s power trip

  Bloomberg Investors assailed by trade-war worries and slowing growth have turned in recent weeks to defensive stocks, which are by nature less volatile. Utilities, boosted by falling yields, have done particularly well, and outperformed all sectors. Their relative haven status may be in for some wobbles though, especially as bond yields could be near a tipping point. Utilities have performed ...

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• 17 June

  Deutsche Bank considers exiting US equities trading

  

  Bloomberg Deutsche Bank AG is considering exiting US equities trading and creating a “bad bank” to wind down legacy assets as part of a broader overhaul to be announced next month, according to a person familiar with the matter. The bank’s supervisory board discussed options on a call last week, the person said, asking not to be identified in disclosing ...

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• 17 June

  Coeure: ECB will act if needed to support economy

  

  Bloomberg Executive Board member Benoit Coeure said the European Central Bank will act if needed to support the economy and could even be facing such a decision within months. In a Financial Times interview, Coeure said most of the economic concerns relate to manufacturing, and may be temporary, but that signals coming from financial markets are “quite alarming.” The comments ...

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• 17 June

  Shadow banking crisis raises risk of Indian bad-loan redux

  

  Bloomberg Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector. A year after a series of defaults by Infrastructure Leasing & Financial Services Ltd. forced the government to intervene and exposed weaknesses in ...

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• 17 June

  Banker compliance jobs at risk as Nordea, Danske banks turn to bots

  

  Bloomberg The two biggest Nordic banks have both recently beefed up their compliance units significantly. Both say the extra headcount is temporary. Nordea Bank Abp has hundreds of employees who scrutinise billions of transactions in order to catch anything that looks potentially criminal. It’s a costly, inefficient system that Mikael Bjertrup, head of the bank’s financial crime prevention unit, plans ...

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• 17 June

  Goldman seeks to boost merchant banking division

  

  Bloomberg Goldman Sachs Group Inc. is finally embracing its status as a private equity giant. The firm’s top executives in recent months have laid out plans to raise more client funds for private investing and rely less on its own balance sheet. As part of that effort, the bank is looking to consolidate the investing activities of multiple units across ...

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• 17 June

  Airbus gets leg up on Boeing with major 100-plane order

  

  Bloomberg Airbus SE won its first order for a new longer range model, the A321XLR, and pressed its advantage over rival Boeing Co., which is still trying to get its most-popular narrow-body back into the skies after two fatal crashes. The European manufacturer gave details about the A321XLR on the first day of the Paris Air Show on Monday and ...

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• 17 June

  Boeing says 737 Max may resume service this year

  

  Bloomberg Boeing Co. Chief Executive Officer Dennis Muilenburg said he’s confident the grounded 737 Max aircraft will re-establish its position as a single-aisle workhorse for decades to come, as the company works through an in-depth review of the airframe design and its internal processes in the wake of two deadly crashes. “The long-term, multi-decade strategy hasn’t changed,” Muilenburg said in ...

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• 17 June

  Lufthansa lowers profit forecast after European fare war bites

  

  Bloomberg Deutsche Lufthansa AG shares slumped the most in three years after the company said it fears a European fare war will squeeze profits at least for the rest of the year. A Europe-wide fight for market share forced Lufthansa to lower profit expectations for 2019, the German carrier said. Falling revenues at its low cost Eurowings subsidiary were chiefly ...

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• 17 June

  H&M sees slowdown in revenue growth

  

  Bloomberg Hennes & Mauritz AB (H&M) revenue growth showed a slowdown in April and May, stymieing the Swedish clothing retailer’s attempts to reduce a buildup of inventory that’s been weighing on earnings. Sales in the latest quarter were above analysts’ estimates as compiled by Bloomberg News. But the figures suggest growth slowed to 5.5 percent in April and May from ...

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