April, 2019

• 22 April

  ‘Inverted yield curve no longer a recession gauge’

  

  Bloomberg An inverted Treasury yield curve is no longer a reliable signal of recession, and what matters more is the level of the curve, Bank of America (BofA) economists Ethan Harris and Aditya Bhave said in a note. The Federal Reserve is flirting with inversion probably because policy makers recognise its waning predictive power in a low-yield global environment, the ...

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• 22 April

  China picks new chief for ICBC amid reshuffle at financial institutions

  

  Bloomberg China has named a new chief for Industrial & Commercial Bank of China Ltd. (ICBC), world’s largest lender by assets, people with knowledge of matter said. Chen Siqing, chairman of Bank of China Ltd., was appointed as party secretary of Beijing-based ICBC at an internal meeting on Monday, the people said, asking not to be identified as the matter ...

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• 22 April

  Too early to claim inflation win: S Africa central bank

  

  Bloomberg South Africa’s central bank says it’s premature to claim victory in the war against inflation and sees price growth stabilising at 4.5 percent only by the end of 2021. While inflation has been inside the central bank’s target band of 3 percent to 6 percent for two years and was at the midpoint of this range in March, it’s ...

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• 22 April

  Stop & Shop reaches tentative contract deal, ending strike

  

  Bloomberg Stop & Shop reached a tentative contract deal with the union representing more than 30,000 of its New England employees, ending the biggest private sector strike in years. “The agreement preserves healthcare and retirement benefits, provides wage increases, and maintains time-and-a-half pay for current members,” chapters of the United Food & Commercial Workers (UFCW) union said in a statement. ...

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• 22 April

  Climate activists stage protest at Heathrow airport

  

  Bloomberg Climate activists took their campaign to London’s Heathrow airport after disrupting public transport and snarling roads and bridges in the UK’s capital for about a week. Demonstrators planned “action” at Europe’s busiest airport as part of a two-week protest against the effects of climate change, according to a spokeswoman for the group called Extinction Rebellion. She declined to give ...

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• 22 April

  Airlines run checks for engine issue on grounded 737 Max

  

  Bloomberg At least three airlines have conducted inspections on the grounded Boeing Co 737 Max concerning an issue that could damage some engine parts. The possible buildup of carbon around fuel nozzles prompted manufacturer CFM International to recommend that some operators examine and potentially replace those components of the Leap-1B models used on the Max. American Airlines Group Inc and ...

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• 22 April

  In yogurt world, Greeks are down and Vikings are up

  

  Bloomberg It’s high in protein, low in sugar, and just right for the struggling American dairy industry. It’s Icelandic yogurt, also known as Skyr, and as the meteoric popularity of the Greek product fizzles, farmers are hoping the new variety will help lift them out of years of lackluster demand. A big reason dairy producers love it: Recipes for one ...

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• 22 April

  Bed Bath & Beyond names new chairman

  Bloomberg Bed Bath & Beyond unveiled changes to its board of directors including the naming of Lead Independent Director Patrick Gaston as independent chairman, saying the moves were in response to shareholder feedback and connected to its commitment to accelerating board refreshment. Five current independent directors will step down from the board, with the five new independent directors being Harriet ...

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• 21 April

  Dubai economy forecast to grow by 3.8% in 2020

  

  Abu Dhabi / WAM Government-led policy initiatives and investments, improved growth prospects in trading partners, and preparation to host Expo 2020 Dubai are providing increased private sector credit and investment in Dubai. As a result, real GDP growth rates in the short to medium term are projected to reach 2.1 percent, 3.8 percent and 2.8 percent, in the years 2019, ...

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• 21 April

  Bahrain’s GIB establishes Saudi arm with $2b capital

  Bloomberg Bahrain-based Gulf International Bank converted its Saudi operation into a locally incorporated bank with 7.5 billion riyals ($2 billion) capi- tal, as the lender looks to boost its presence in the kingdom. The bank’s Saudi arm will be owned equally by GIB, as the Bahraini lender is known, and Saudi Arabia’s Public Investment Fund, according to a statement. Abdulla ...

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