June, 2019

• 19 June

  Draghi spotted the real problem

  

  Mario Draghi has spent much of his time as president of the European Central Bank (ECB) fighting crises. So he hasn’t had much time to consider his legacy, even now that he’s less than five months away from retirement. Yet in his last appearance as president at the ECB’s yearly shindig in Portugal, Draghi was in reflective mood about what’s ...

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• 19 June

  Huawei’s doomsday outlook may galvanise home support

  Huawei Technologies Co. is braced for a fall. China’s premier telecommunications equipment and smartphone maker is preparing for a drop of 40% to 60% in overseas handset sales, Bloomberg News reported, citing people familiar with the situation. That’s quite a blow to the business, considering that consumer devices (mostly smartphones) accounted for 45% of the company’s revenue last year. But ...

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• 19 June

  Donald Trump’s next big trade war will be data

  President Donald Trump called CNBC to offer grudging praise to the European Union (EU) – not something that happens every day. He suggested the US should follow the example of Brussels’s “fantastic” bureaucrats in hitting the likes of Alphabet Inc.’s Google and Facebook Inc. with antitrust investigations and fines. Unsurprisingly, it wasn’t the details of competition law that were uppermost ...

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• 19 June

  Robots might turn out to be great co-workers

  

  The idea that automation will drive up unemployment or drive down wages — in other words, that robots will take people’s jobs — has become almost an article of faith for many Americans. Everyone can point to instances of automation reducing demand for certain workers. And with so-called artificial intelligence technology improving rapidly, there’s widespread worry that many humans will ...

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• 19 June

  Deutsche Bank’s quiet man needs to turn up the volume

  

  Ever since Deutsche Bank AG abandoned talks to merge with Commerzbank AG in April, a drip-feed of information on what Germany’s biggest lender plans next has leaked out. For Chief Executive Officer Christian Sewing, the danger is that he finds most of his cards have been played well before he can unveil his overhaul at the end of next month. ...

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• 19 June

  Facebook’s answer to bitcoin poses a double threat

  

  Regulators will be watching closely when Facebook Inc. unveils its cryptocurrency project. Their vigilance is warranted. Mark Zuckerberg, the social network’s founder, isn’t going to gamble with what remains of his public image by replicating the worst excesses of the Bitcoin craze. He’s not trying to create a speculative currency; a potential wave of mom-and-pop investment losses is the last ...

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• 19 June

  Draghi’s new stimulus plan may include rate cuts, asset buying

  

  Bloomberg Mario Draghi is set on pushing the limits of the European Central Bank’s (ECB) firepower right up until he leaves office. With little more than four months to go in his job, the ECB president has all but pledged new stimulus for Europe’s flagging economy that may include both interest-rate cuts and asset purchases. Adding potency to that statement ...

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• 19 June

  Banks postpone assets move as Brexit looms

  

  Bloomberg Goldman Sachs Group Inc. and Standard Chartered Plc are among global firms postponing the transfer of several billion euros of capital outside the UK despite regulatory pressure to complete the move. Other lenders including Citigroup Inc. have only shifted part of the assets they were initially planning to relocate due to the delays in Brexit, people familiar with the ...

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• 19 June

  Morocco holds key rate despite nation’s dim economic outlook

  

  Bloomberg Morocco’s central bank held its benchmark rate steady, refusing to budge even as the country’s economic prospects took a turn for worse. The decision, which Bank Al-Maghrib said was link-ed to bullish inflation projections and monetary conditions, came even as government pres-ses ahead with measures that will inject billions of dirhams into the economy — steps that also are ...

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• 19 June

  Deutsche Bank weighs sweeping changes at senior level

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing is planning sweeping changes to his top management, considering replacing finance chief James von Moltke and investment banking head Garth Ritchie, as he purges executives who rose under his predecessor. The bank is expected to decide on the future of several management members within weeks, according to people familiar with the ...

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