April, 2019

• 15 April

  Fed hints at another side of good-news story on US jobs

  

  Bloomberg It began as an inquest into what went wrong. Now the Federal Reserve’s policy rethink may be widening to include the part the central bank thought it had gotten right. Inflation keeps falling short of the Fed’s target, and that was the trigger for what’s supposed to be a months-long review of strategy. Now, policy makers are being drawn ...

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• 15 April

  Trump slams Fed, says quantitative tightening is a killer

  

  Bloomberg President Donald Trump, renewing his attack on the Federal Reserve, claimed the stock market would be “5000 to 10,000” points higher had it not been for the actions of the US central bank. “If the Federal Reserve had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points,” the ...

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• 15 April

  German growth picked up moderately: Bundesbank

  

  Bloomberg Germany’s economic growth picked up only moderately in the first quarter and the underlying pace of expansion remains subdued on the back of an industrial downturn, according to the Bundesbank. Orders in manufacturing have “literally collapsed” and the mood has “significantly deteriorated” in the industry that used to be the motor of export-heavy economy, the German central bank said ...

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• 15 April

  No need for tiered rates to help banks

  

  Bloomberg The European Central Bank’s (ECB) negative interest-rate policy has been effective at stimulating the economy and there isn’t a need at this stage to mitigate the profit squeeze it’s caused commercial banks, according to Governing Council member Vitas Vasiliauskas. “I think it’s still a positive tool and at this stage, today, I don’t think that there is a need ...

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• 15 April

  Cross-asset volatility won’t stay low for much longer, says Morgan Stanley

  

  Bloomberg A combination of low liquidity and high complacency mean cross-asset volatility won’t stay at historic lows for much longer, according to Morgan Stanley. “There are still two things that argue against the current levels of volatility being correct or sustainable,” cross-asset strategist Andrew Sheets said in an interview. “The first is that market liquidity is still not great. The ...

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• 15 April

  Egypt plans to sell stake in Banque Du Caire this year

  Bloomberg Egypt plans to sell a stake in Banque du Caire, one of the country’s biggest state-owned lenders, towards the end of this year, central bank Governor Tarek Amer said. “The size is around 20 percent; might go up to 30 percent,” Amer said in an interview in Washington, where he attended the International Monetary Fund and World Bank annual ...

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• 15 April

  Corbyn government as bad for banks as hard Brexit: Citi

  Bloomberg Jeremy Corbyn being elected UK prime minister would be just as damaging to British banks’ profits as the country crashing out of the European Union without a withdr- awal agreement, according to Citigroup Inc. While London-listed bank stocks have recovered from last year’s lows as the risk of a “no-deal Brexit” gradually subsides, a snap election is becoming more ...

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• 15 April

  As ‘flying shame’ grips Sweden, SAS ups stakes in climate battle

  

  Bloomberg In the country that gave the world teenage climate activist Greta Thunberg, shame connected with travelling on airplanes that guzzle fossil fuels may now be having a real impact on travel patterns. Swedavia AB, which operates 10 Swedish airports including the ones outside Stockholm and Gothenburg, has seen year-on-year passenger numbers drop for seven consecutive months. Last year, Sweden ...

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• 15 April

  American Airlines pulls 737 Max from summer schedule

  

  Bloomberg American Airlines Group Inc has become the second major US carrier to pull the grounded Boeing Co 737 Max from its flight schedule through the busy summer travel season, saying the decision will give passengers more certainty in making vacation plans. The airline is pulling the Max through August 19, Chief Executive Officer Doug Parker and President Robert Isom ...

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• 15 April

  ‘Experiential’ stores not helping mall footfalls

  Bloomberg Mall owners have sung the praises of “experiential retail,” touting it as the saviour of a sector battered by store closures and the shift to online shopping. It turns out the buzz may be a bit overblown. A study by location-data firm Thasos Group shows that malls with a Tesla showroom, Apple store, Eataly or Starbucks Roastery don’t have ...

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