June, 2019

• 26 June

  Powell reiterates stronger case for cut amid economic risks

  

  Bloomberg Federal Reserve Chairman Jerome Powell said the downside risks to the US economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates. “Crosscurrents have reem-erged, with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy,” Powell told the Council on Foreign ...

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• 26 June

  Draghi tests legal limits again with claim of quantitative easing flexibility

  

  Bloomberg Mario Draghi is once again testing the boundaries of the law in his efforts to lift the euro zone out of its economic malaise. When the European Central Bank president promised last week to add monetary stimulus if the outlook doesn’t improve, he said one option is to resume large-scale purchases of government bonds. He also said self-imposed limits ...

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• 26 June

  Bank of Thailand leaves interest rate unchanged

  

  Bloomberg The Bank of Thailand left its benchmark interest rate unchanged for a fourth straight meeting, while at the same time downgrading its economic growth outlook and raising concerns about the strong currency. The Monetary Policy Committee voted unanimously to hold its key rate at 1.75 percent, the central bank said in a statement, in line with almost all of ...

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• 26 June

  Bombardier exits commercial aviation, sells CRJ to Mitsubishi

  

  Bloomberg Bombardier Inc is selling its regional-jet business to Mitsubishi Heavy Industries Ltd, ending the Canadian company’s foray into commercial aircraft after more than three decades. Mitsubishi agreed to pay $550 million for the maintenance, support, marketing and sales operations of the aging CRJ programme, the companies said. The Tokyo-based manufacturer, which is developing the first Japanese-built airliner since the ...

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• 26 June

  Walmart re-listing its Japanese chain

  

  Bloomberg Walmart Inc is re-listing its Japanese supermarket chain Seiyu after struggling to find a buyer for the unit, following a decade-long battle to compete with bigger local rivals. The US retailer will keep its majority stake in Seiyu after the listing, Walmart’s international division head Judith McKenna said in a statement. The company also announced a mid-term business plan ...

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• 26 June

  Faux-meat mania may pose risks for meat producers

  Bloomberg The popularity of Beyond Meat Inc’s plant-based protein offerings isn’t just a threat for meat producers. Such meat-free alternatives and consumer trends shunning animal protein could also hurt demand at agricultural chemical makers and fertiliser companies, according to Alliance Bernstein. Nearly 60 percent of the world’s corn and 90 percent of the soy goes into animal feed, analyst Gunther ...

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• 26 June

  Alibaba aims to double global brands with new English site

  

  Bloomberg Alibaba Group Holding Ltd has set up a new website to double the number of global brands on its flagship online mall, taking an important step towards fulfilling its global ambitions. The e-commerce giant began offering an English-language portal on Tmall for the first time to entice more merchants from around the world to sell to Chinese consumers. Alibaba ...

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• 26 June

  Canada’s Shopify tumbles as euphoria put to test

  

  Bloomberg Shopify Inc’s biggest drop of 2019 shows the e-commerce stock is testing the limits of what investors are willing to pay for rapid revenue growth. The shares fell 8.9 percent in New York on Tuesday, their biggest drop since December 14, after more than doubling from the start of the year. That run-up created more than $25 billion in ...

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• 25 June

  Etihad Rail okays two packages for Abu Dhabi-Dubai stretch

  

  Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE national railway, has approved the award agreement for civil and track works of Packages B and C for Stage Two of the UAE national railway network connecting Abu Dhabi and Dubai, during a board meeting, chaired by HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman ...

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• 25 June

  Abu Dhabi unveils initiatives to boost business, tourism

  

  ABU DHABI / WAM The Abu Dhabi Government, under the directives of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has reinforced its commitment to the private sector’s development, launching nine new initiatives. At the Abu Dhabi Government Private Sector forum attended by HH Sheikh Khalid bin ...

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