June, 2019

• 15 June

  ‘GM, Fiat Chrysler are Tesla’s secret source of cash’

  Bloomberg For years, Tesla Inc. has hauled in revenue by selling credits to other carmakers that needed to offset sales of polluting vehicles to US consumers. These sorts of transactions have largely been shrouded in secrecy — until now. General Motors Co. and Fiat Chrysler Automobiles NV disclosed to the state of Delaware earlier this year that they reached agreements ...

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• 15 June

  Fed not likely to go aggressive on interest rate cut this year

  

  Bloomberg The Federal Reserve will likely cut interest rates this year but not nearly as aggressively as investors expect, according to a Bloomberg survey of economists. Respondents to a June 7-12 poll saw policy makers lowering rates by a quarter point this year. That’s a meaningful shift since March — when economists anticipated a hike in September — reflecting a ...

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• 15 June

  Nordea Bank’s biggest shareholder cutting its stake below 20%

  

  Bloomberg The biggest shareholder in Nordea Bank Abp is cutting its stake below 20% in a move the investor says is designed to ease its capital burden. Sampo Oyj, which is based in Helsinki, will distribute some of its holdings in Nordea as an extra dividend to shareholders. By going below 20%, Sampo will no longer be treated as a ...

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• 15 June

  SNB keeps ultra-loose policy with new interest rate to tame currency

  

  Bloomberg The Swiss National Bank (SNB) stuck with ultra-loose monetary policy and a pledge to battle currency strength amid a deteriorating backdrop that’s tying its hands. The SNB’s dual tack of record-low interest rates and unwavering intervention threats have been at the heart of the President Thomas Jordan’s push in recent years to keep the franc in check. A downshift ...

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• 15 June

  BOE poised to keep key rate unchanged

  

  Bloomberg Bank of England (BOE) policy makers will probably keep policy on hold despite warnings that interest rates will have to rise in the future. All but one of the 20 analysts surveyed by Bloomberg predict a unanimous vote to keep the benchmark at 0.75%. Political turmoil, a lack of clarity about Britain’s departure from the European Union, weaker-than-expected economic ...

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• 15 June

  US banks hitting the ceiling on cash buyback

  

  Bloomberg US banks are hitting the ceiling on how much cash they can hand back to shareholders. After two years of surging payouts as regulators relaxed the reins on the biggest lenders, those firms are likely to boost dividends and buybacks by just 3% following this year’s stress test, according to analysts’ estimates compiled by Bloomberg. The Federal Reserve will ...

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• 15 June

  Carriers keen on new Airbus jet still hankering for Boeing rival

  

  Bloomberg JetBlue Airways Corp. and Norwegian Air Shuttle ASA, regarded as likely buyers for Airbus SE’s proposed A321 XLR jetliner, urged Boeing Co. to go ahead with a rival model that they say will have capabilities the European plane can’t match. The discount carriers said in Paris that the anticipated launch of the extra long-range version of Airbus’s A321neo at ...

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• 15 June

  Amazon’s share of US online market estimate cut to 38%

  

  Bloomberg A closely watched researcher has cut its estimate of Amazon.com Inc.’s share of the US e-commerce market after incorporating new figures from the company. EMarketer Inc., among the most widely cited sources for estimates of US online retail sales, says it now expects Amazon to account for 37.7 percent of online commerce this year, down from a prior estimate ...

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• 15 June

  Walmart to fully integrate employees of Jet.com

  

  Bloomberg Walmart Inc. will fully integrate all Jet.com employees into the larger company and shrink the unit’s management team nearly three years after buying the e-commerce site. The changes, outlined in a memo from Jet co-founder Marc Lore, include the departure of Jet president Simon Belsham, who will seek another opportunity inside or outside the company after a transition period ...

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• 15 June

  American Air urges court to put end to ‘devastating’ labour slowdown

  

  Bloomberg American Airlines Group Inc. persuaded a federal judge to temporarily block an alleged work slowdown by mechanics that the carrier says has become “devastating” to its operations. American sought the order three weeks after asking for a temporary injunction against the TWU-IAM Association, which represents more than 30,000 mechanics, baggage handlers and other airport ramp workers. A July 1 ...

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