April, 2019

• 16 April

  JPMorgan, Barclays cut Brazil’s growth forecast this year

  Bloomberg JPMorgan Chase & Co and Barclays became the latest financial institutions to lower their estimates for Brazil’s economic growth this year, on the back of weak activity data and increased political uncertainty. They joined Itau Unibanco SA, Latin America’s largest bank by market value, which remains the most pessimistic of the three after cutting its 2019 growth forecast for ...

  Read More »
• 16 April

  PBOC aims to control money supply as economy rebounds

  

  Bloomberg China’s central bank shifted its tone on the economy, emphasising that it will control excessive money supply amid signs of a recovery. The People’s Bank of China (PBOC) said it’ll keep good control of the money supply “floodgate” and not “flood” the economy with excessive liquidity, according to a statement. That wording had been dropped from the previous quarter’s ...

  Read More »
• 16 April

  HNA unit’s lenders threaten to seize assets after default

  

  Bloomberg A unit of HNA Group Co defaulted on a loan it took out less than seven months ago, the latest in a string of missed payments that threaten to complicate the embattled Chinese conglomerate’s restructuring. Lenders to CWT International Ltd, a Hong Kong-listed unit of HNA, said they would seize most of the company’s assets — including CWT’s stake ...

  Read More »
• 16 April

  India cuts trade deficit with China by $10bn

  

  Bloomberg India cut its trade deficit with China by the most in more than a decade, according to people familiar with the data, as it boosted exports amid a US-China trade war. The South Asian nation’s exports to China jumped 31 percent year-on-year to $17 billion in the financial year ended on March 31, the people said, asking not to ...

  Read More »
• 16 April

  Nissan scraps CEO office following Ghosn’s exit

  

  Bloomberg Nissan Motor Co no longer has an office staffed by an inner circle of people working for the chief executive officer following the arrest and exit of former Chairman Carlos Ghosn, a person with knowledge of the change said. The team was abolished as of April 1, said the person, asking not to be identified because the information hasn’t ...

  Read More »
• 16 April

  Tesla’s Model Y a no-show at Shanghai auto show

  Bloomberg The new Model Y crossover that Tesla Inc hopes will satisfy growing consumer preference for bigger vehicles didn’t make it over to the Shanghai auto show. The car instead will be shown at an event in the US later this month, a spokeswoman said. Still, Tesla is showcasing two Model 3 cars, a Model X and a Model S ...

  Read More »
• 16 April

  China home price growth accelerates

  

  Bloomberg New-home price growth in China snapped a four-month weakening streak, one of the first official signs there may be a widespread recovery in the nation’s housing market. The value of new homes, excluding government-subsidised housing, gained 0.61 percent on average in March from February in 70 major cities tracked by the nation’s statistics bureau, official data released showed. That ...

  Read More »
• 16 April

  Brighter India monsoon outlook brings cheer amid polls

  

  Bloomberg India’s forecast of plentiful rain during this year’s monsoon may come as a relief to its farmers as well as Prime Minister Narendra Modi, who’s seeking a second term in office in national elections currently underway. Annual rainfall during the June-September rainy season, which waters more than half of the country’s farmland and is crucial for economic growth, is ...

  Read More »
• 16 April

  US tech firms’ buybacks hit record $387bn

  

  Bloomberg Some of the largest US technology companies pushed for a corporate tax overhaul in 2017 by suggesting they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, data show these firms gave most of their huge tax savings to investors. The top 10 US tech companies spent more than $169 ...

  Read More »
• 16 April

  Nexi falls after Europe’s biggest IPO this year

  

  Bloomberg Nexi SpA shares fell in Milan trading after the initial public offering of the payments-service company raised 2.01 billion euros ($2.27 billion), making it the biggest listing in Europe so far this year. Nexi declined 5.5 percent to 8.50 euros. A mix of existing and new shares in the Milan-based company were sold to more than 340 investors from ...

  Read More »