June, 2019

• 8 June

  Greece banks bad-debt monster is alive, kicking

  Greece’s banks have staged a spectacular stock market rally this year. Shares of two of the country’s top four lenders – Piraeus Bank SA and National Bank of Greece SA — have more than doubled. The possibility of a change in government has spurred the latest bump — but investors’ optimism may be premature. Fundamentally, little has changed since last ...

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• 8 June

  Not all of the developing nations are created equal

  

  Economists tend to categorise countries by their per-capita income levels. The best known is the World Bank’s system, which classifies countries into low, lower-middle, upper-middle and high income, according to the per capita gross national income: Other international development agencies, like the International Monetary Fund (IMF) and the United Nations, tend to adopt the World Bank’s taxonomy when distinguishing countries ...

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• 8 June

  Barclays is chasing new growth with bad old habits

  

  Barclays Plc Chief Executive Officer Jes Staley has staked his own personal success on rebuilding the British bank’s securities unit. That pursuit of Wall Street stardom may be leading the firm into treacherous territory. The remnants of a team disbanded years ago is making millions of dollars for the bank by gaming tax loopholes, Bloomberg News reported. The traders arrange ...

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• 8 June

  Jaguar, where’d that extra $1 billion come from?

  

  Cash is fungible. So if a company suddenly has $1 billion more of it, does it matter where it comes from? For Jaguar Land Rover, it should. In its latest results, the iconic UK car company, owned by Tata Motors Ltd., posted around 1.4 billion pounds of free cash flow ($1.77 billion). That’s a sharp turnaround from a running cash-burn ...

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• 8 June

  Amazon unveils new drone for deliveries

  

  Bloomberg Amazon.com Inc has unveiled a revolutionary new drone — part helicopter and part science-fiction aircraft — that the company expects to use for test deliveries of toothpaste and other household goods starting within months. The new device takes off vertically, then tilts to fly horizontally like a plane. It also features artificial intelligence, using a suite of sensors the ...

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• 8 June

  Apple to buy Drive.ai in bid for autonomous vehicle talent

  

  Bloomberg Apple Inc is preparing to buy startup Drive.ai in a small deal that will bring more engineers with experience in autonomous vehicle technology to the iPhone maker, according to people familiar with the matter. It’s unclear how much Apple is paying. Drive.ai has raised about $77 million in funding since it was founded in 2015, and was valued at ...

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• 8 June

  Walmart to put groceries in the fridge while you’re out

  

  Bloomberg Walmart Inc already sells more food than anyone else. Now it wants to put those groceries right in your fridge. Beginning this fall, about 1 million people in Pittsburgh, Kansas City, and Vero Beach, Florida, will be able to get cereal and celery while away from home. Walmart staffers — sporting wearable cameras — will arrive in company-owned cars ...

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• 8 June

  Fed watchers say rate cut likely in July

  

  Bloomberg The weak US May jobs report pushes the Federal Reserve closer to cutting interest rates, though maybe not all the way just yet. While a reduction when policy makers meets later this month can’t be ruled out, Fed watchers said their base case is for the central bank to stand pat. But they said the abrupt slowdown in payrolls ...

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• 8 June

  PBOC chief sees ‘tremendous room’ to adjust policy if trade war deepens

  

  Bloomberg China’s central bank governor said there’s “tremendous” room to adjust monetary policy if the trade war deepens, joining counterparts in Europe and the US in displaying readiness to act to support the economy. In an exclusive interview with Bloomberg in Beijing, People’s Bank of China (PBOC) Governor Yi Gang also signalled that he’s not wedded to defending the nation’s ...

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• 8 June

  JPMorgan, CIBC expect Canada to slash rates

  

  Bloomberg Canada may have just printed its lowest unemployment rate since at least 1976, but two big North American banks are now forecasting its central bank to cut rates. JPMorgan Chase & Co. reduced its forecast for Canadian growth in the third and fourth quarters of this year to 1.5 percent from 2.25 percent and expects the Bank of Canada ...

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