May, 2019

• 21 May

  Broadbent: No-deal Brexit won’t help investment in UK

  

  Bloomberg It is wrong to suggest that the UK should pursue a no deal Brexit merely to end uncertainty for businesses, according to Ben Broadbent, the Bank of England’s deputy governor for monetary policy. In a speech in London, Broadbent said that surveys indicate that firms are most worried about the prospects of a no-deal, no-transition Brexit, and that pursuing ...

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• 21 May

  Leveraged debt poses no cash threat: Fed

  

  Bloomberg Federal Reserve Chairman Jerome Powell agrees that the torrid market in high-risk corporate loans looks a lot like the mortgage industry in the run-up to the subprime crisis, but he says US regulators are watching closely this time around and the financial system is better shielded. In a sweeping analysis of leveraged lending Powell delivered a response to critics ...

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• 21 May

  Once future of banking, ATMs, fade in digital era

  

  Bloomberg In the wake of the economic crisis, Paul Volcker called automated teller machines the last financial innovation that improved society. A decade later, their popularity is slipping. The number of ATMs around the world fell for the first time last year as banks closed branches and redirected resources towards digital payments, consulting firm RBR said in a study released. ...

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• 21 May

  Top investors of Deutsche Bank focusing discontent on chairman

  

  Bloomberg Some top Deutsche Bank AG investors are growing increasingly dissatisfied with supervisory board Chairman Paul Achleitner. Cerberus Capital Management and HNA Group have internally discussed pushing for Achleitner’s exit before his term expires in 2022, according to people with knowledge of the matter. While the shareholders have voiced their frustrations among themselves, it’s unclear how they’ll vote at the ...

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• 21 May

  Australia to weigh rates cut next month: Lowe

  Bloomberg Australia’s central bank chief said he’ll consider easing monetary policy at next month’s meeting to drive faster hiring, saying unemployment needs to fall below 5 percent to help return inflation to target. “A lower cash rate would support employment growth and bring forward the time when inflation is consistent with the target,” Governor Philip Lowe said in a speech ...

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• 21 May

  Nike, Adidas call China tariffs ‘catastrophic’ in letter to Trump

  

  Bloomberg Nike Inc, Adidas AG and other footwear companies urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole.” In all, 173 companies signed an open letter to the president, and posted on the industry trade association’s website. “On ...

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• 21 May

  Flyers to embrace Boeing Max when jet returns: Ryanair

  

  Bloomberg Ryanair Holdings Plc predicted that its customers will embrace Boeing Co’s stricken 737 Max jetliner once the model returns to service after being grounded in the wake of two air crashes in five months. “We see no indication yet from passengers of any concern about the Max aircraft,” Chief Executive Officer Michael O’Leary told Bloomberg TV in an interview ...

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• 21 May

  Boeing Max may be grounded in Indonesia beyond this year

  

  Bloomberg Indonesia signalled it may ground Boeing Co’s 737 Max until next year, underscoring the challenges faced by the US planemaker as it races to get its fastest-selling jet back in the air after two fatal crashes. Even when the US Federal Aviation Administration (FAA) clears the plane, Indonesia will make its own decision after reviewing the proposed fixes, Director ...

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• 21 May

  United Air gets bullish nod at Morgan Stanley

  Bloomberg US airline investors may see the three legacy carriers perform differently in the near future, Morgan Stanley analyst Rajeev Lalwani wrote in a note. United Continental Holdings Inc is likely to see upside to earnings, while American Airlines Group Inc may observe a cost reset from labour, Lalwani said. Shares of Delta Air Lines’s has finally started getting some ...

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• 21 May

  Formula 1 legend Niki Lauda dies at 70

  

  Bloomberg Niki Lauda, the Austrian race-car driver who survived a near-fatal crash to win three Formula 1 world championships and went on to found his own airline, has died, German news agency Deutsche Presse-Agentur (DPA) reported. He was 70. Lauda died in his sleep surrounded by family, a family spokeswoman told DPA in a statement. He received a lung transplant ...

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