May, 2019

• 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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• 27 May

  Swatch sets up drive-through store in Biel

  Bloomberg The company that shook up Swiss watchmaking is looking to the fast-food industry for inspiration on how to spruce up retailing. Swatch Group AG, the maker of $50 plastic timepieces, is setting up a drive-through store where it will sell products from its namesake label packed in burger boxes and brown paper bags. The shop, next to the company’s ...

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• 27 May

  Brazil’s Natura to buy Avon Products for $2bn in stock

  

  Bloomberg Brazil’s Natura Cosmeticos SA agreed to buy rival Avon Products Inc in an all-stock deal valued at about $2 billion, positioning it as a growing force in the booming global cosmetics and skincare industry. Controlling shareholders of Natura, which bought the Body Shop retail chain in 2017, will form a new publicly traded holding company that will offer 0.3 ...

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• 26 May

  Xi seeks global cooperation on tech as Trump bans Huawei

  

  Bloomberg Countries should cooperate in developing the internet, big data and artificial intelligence, China President Xi Jinping said in a letter to the China International Big Data Industry Expo that started on Sunday in the southwestern city of Guiyang, Xinhua reports. China attaches great importance to the development of the big data industry and is willing to explore a growth ...

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• 26 May

  Investcorp to acquire Mercury Capital amid expansion push

  

  MANAMA / WAM Investcorp on Sunday announced it has entered into a definitive agreement to acquire Mercury Capital Advisors (Mercury), one of the leading institutional capital raising and investment advisory enterprises. As part of the transaction, Mercury will remain an independent business operating under its current leadership team. This investment is the latest milestone in Investcorp’s ambitious growth strategy to ...

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