May, 2019

• 27 May

  India’s Sensex gains amid optimism Modi win to drive growth

  

  Bloomberg Indian equities advanced amid continued optimism that Prime Minster Narendra Modi will adopt more policies to spur growth in Asia’s third-biggest economy. The benchmark S&P BSE Sensex rose 0.6 percent to 39,683.29 in Mumbai, adding to a series of record highs this year after capping its best week in seven months. The NSE Nifty 50 Index advanced 0.7 percent, ...

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• 27 May

  China’s first bank seizure since 1998 shows hidden loan risk

  

  Bloomberg China’s first government takeover of a bank in more than two decades has underscored the potential for increased stress at regional le- nders that piled into off-book financing in recent years. Regulators said that they would assume control of Ba-oshang Bank Co. for one year because of “serious” credit risks. The Inner Mongolia-based lender, once seen as a model ...

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• 27 May

  5 banks face lawsuit over Australia foreign exchange scandal

  

  Bloomberg Citigroup Inc, Royal Bank of Scotland Group Plc and JPMorgan Chase & Co are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies. UBS Group AG and Barclays Plc were also named in the suit lodged on Monday in the Federal Court by Maurice Blackburn Lawyers. The action claims ...

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• 27 May

  Negative rates push small Japan banks into structured finance

  

  Bloomberg Japan’s regional banks have long been relegated to the sidelines in one of the most lucrative corners of the lending market while regular loans got gradually less profitable. Now some are fighting back. Shizuoka Bank Ltd has lined up a network of 40 local lenders that will invest in structured assets such as project finance and non-recourse real estate ...

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• 27 May

  Deutsche Bank signals investment unit cutbacks

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing is targeting the investment bank for “tough cutbacks,” notably in equity trading, in a campaign to restore market confidence following the breakdown of takeover talks with Commerzbank AG. “I can assure you: we are prepared to make tough cutbacks” to the securities unit, Sewing said at the bank’s annual shareholders’ meeting ...

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• 27 May

  Mario Draghi has 10 days to gauge recovery for ECB stimulus decision

  

  Bloomberg European Central Bank officials are approaching a major decision on new stimulus amid conflicting economic data and differences over what to do about it. Economists at the ECB are preparing forecasts for President Mario Draghi to unveil next week that will show whether they still believe an upturn will materialise in the second half of the year. The Governing ...

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• 27 May

  Air New Zealand to buy eight Boeing 787-10 jets for $2.7b

  

  Bloomberg Air New Zealand Ltd agreed to buy eight Boeing Co 787-10 aircraft, worth $2.7 billion at list prices, to replace and upgrade its long-haul fleet. The Auckland-based airline also has an option to buy as many as 12 additional 787-10 aircraft, according to a statement released on Monday. The company said it has negotiated a “significant discount” to the ...

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• 27 May

  Mothercare soars most in 2 months

  

  Bloomberg Mothercare Plc surged despite posting a large loss and falling sales, after it said it had made significant headway restructuring its operations. The baby and parents retailer’s shares rose as much as 19 percent, the most since March, after it said it reduced its store count to 79 from 134 a year earlier, a faster-than-expected pace. The retailer has ...

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• 27 May

  Kenya Airways CEO Mikosz set to quit before end of contract

  

  Bloomberg Kenya Airways Chief Executive Officer Sebastian Mikosz will step down from the troubled state airline five months before the end of his three-year contract, according to a staff memo seen by Bloomberg. “I have made the decision to shorten my contract term and I have decided to resign on personal grounds effective from December 31,” Mikosz said in the ...

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• 27 May

  Canada wholesalers gain the most in 17 months

  

  Bloomberg Sales by Canadian wholesalers in March rose by the most in more than a year, another sign the economy is emerging from a temporary slow patch. Wholesale sales rose 1.4 percent during the month, the fastest increase since October 2017 and the fourth straight monthly gain, Statistics Canada reported. Economists surveyed by Bloomberg were expecting a gain of 0.9 ...

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