May, 2019

• 20 May

  China stocks near 3-month low amid Huawei ban news

  

  Bloomberg China’s stocks traded near their lowest since February, with the damage caused by escalating tensions with the US rout now topping $1.1 trillion. The Shanghai Composite Index fell 0.4% at the close, after earlier losing as much as 1.5%. The gauge is now among the world’s worst-performing national benchmarks this quarter, after beating every other market earlier in the ...

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• 20 May

  Japanese lenders struggling to survive in international markets

  

  Bloomberg Time and again since Japan emerged as a global economic force, its financial leaders have hatched plans to translate their influence into investment-banking clout. Time and again, they’ve failed. The retreat sounded by Nomura Holdings Inc. last month marks just the latest Japanese overseas flop, prompting current and former executives, as well as analysts, to question if they can ...

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• 20 May

  Fed challenged over view that leveraged loans won’t cause crisis

  

  Bloomberg A top Democratic lawmaker questioned whether Federal Reserve Vice Chairman Randal Quarles can be trusted when he says leveraged lending isn’t a current threat to the financial system, pointing to his failure to foresee similar dangers before the credit crisis a decade earlier. Senator Sherrod Brown of Ohio, at a Banking Committee hearing, quoted a series of recent remarks ...

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• 20 May

  Shadow banks gain on report India may offer liquidity line

  

  Bloomberg India’s non-bank lenders rose after a newspaper reported that the Reserve Bank of India will offer them a credit line to help the shadow banks tide over a liquidity crisis. Indiabulls Real Estate Ltd., Dewan Housing Finance Corp. and Reliance Home Finance Ltd. traded more than 10% higher in Mumbai. The benchmark S&P BSE Sensex index gained 2.7% after ...

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• 20 May

  Goldman in talks to buy B&B Hotels for $2.2bn

  Bloomberg Goldman Sachs Group Inc. is in exclusive discussions to buy the B&B Hotels chain from European buyout firm PAI Partners. The transaction is expected to close in the second half of this year, PAI Partners said in a statement on Monday, without providing any financial details. Goldman Sachs is doing the deal through its merchant banking division, according to ...

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• 20 May

  Czech lenders agree to share profits with state to avoid taxes

  Bloomberg Czech banks have avoided a threat of special taxes for the industry by agreeing in principle to contribute a portion of their profits to a national development fund proposed by Prime Minister Andrej Babis. Babis said on Monday he wants the units of Societe Generale SA, Erste Group Bank AG, KBC Groep NV, and UniCredit SpA, to pay an ...

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• 20 May

  BOE race could turn on who heads the UK government

  

  Bloomberg The race to lead the Bank of England could turn on who heads the government by the time the decision is made in October. Much has been made of Chancellor of the Exchequer Philip Hammond’s comments that he seeking a governor with international stature, prompting a flurry of speculation around former Reserve Bank of India chief Raghuram Rajan. Still, ...

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• 20 May

  Boeing crashes leave $450m bill for European insurers

  

  Bloomberg Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co 737 Max planes. Munich Re reckons it could pay $168 million, an estimate that Chief Financial Officer Christoph Jurecka called “very conservative.” Swiss Re expects to pay up to $135 million; Hannover Re says it will pay ...

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• 20 May

  IndiGo co-founder Gangwal not to control airline: CEO

  

  Bloomberg Rakesh Gangwal, one of the founders of IndiGo, has no desire to take control of India’s biggest airline, according to a statement by Chief Executive Officer Ronojoy Dutta. “I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG Group to take control of the company,” Gangwal said in a ...

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• 20 May

  Thomas Cook in crisis as bleak outlook crushes shares, bonds

  

  Bloomberg Thomas Cook Group Plc’s crisis deepened as the debt-laden travel group warned of another tough summer and said it will get a 300 million-pound ($385 million) rescue loan only if it makes progress with the sale of its airline. The stock fell to the lowest since 2012 and the bonds hit a record low after the world’s second-biggest tour ...

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