April, 2019

• 14 April

  ECB’s Draghi sounds concern over Fed’s independence

  

  Bloomberg European Central Bank President Mario Draghi took the rare step of weighing in on the hot debate over whether President Donald Trump is undermining the independence of the Federal Reserve. Speaking to reporters at the International Monetary Fund meetings in Washington, Draghi said he was “certainly worried about central bank independence” and especially “in the most important jurisdiction in ...

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• 14 April

  Central banks need to be flexible on size of rate moves: RBI chief

  

  Bloomberg Reserve Bank of India Governor Shaktikanta Das has an “out of the box” suggestion: central banks need to be more flexible on the size of their interest-rate moves. Instead of a conventional 25 basis point cut and announcement of a dovish, hawkish or neutral stance to give guidance on future actions, policy makers could just change the rate to ...

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• 14 April

  SNB hints at reducing ultra-low rates again

  

  Bloomberg The Swiss National Bank (SNB) could reduce its already ultra-low interest rates again if the situation warrants, President Thomas Jordan said. With a deposit rate of minus 0.75 percent, the SNB has already enacted the lowest interest rate of any major central bank. That tool is designed to keep pressure off the franc, which is regarded as a safe ...

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• 14 April

  British tycoon lashes out as US funds invade UK retail crisis

  

  Bloomberg UK retail billionaire Mike Ashley is lashing out after losing a fight with US hedge funds over department store chain Debenhams Plc. The retail magnate, who made British headlines for substandard working conditions at his sporting goods chain, has been blasting Debenhams management and making legal threats since lenders took control, wiping out his roughly 30 percent stake. The ...

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• 14 April

  Steinhoff’s Conforama raises $357 million to shore up finances

  

  Bloomberg Steinhoff International Holdings NV said its struggling French furniture retail unit Conforama raised about 316 million euros ($357 million) to help fund the business amid a mounting debt load. The fundraising took place as the South African retailer announced Deputy Chief Executive Officer Alexandre Nodale, who is also CEO of Conforama, is giving up those roles. Sales at Conforama ...

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• 14 April

  Tyson Ventures invests in food safety testing firm

  Bloomberg Tyson Ventures has already made splashes buying stakes in alternative protein companies. Now, the venture capital arm of giant Tyson Foods Inc is betting the meat industry will beef up its food-safety platforms. The unit is investing in Clear Labs Inc, a food safety testing company that uses a robotic platform to detect pathogens like salmonella. The technology shortens ...

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• 14 April

  Date of Boeing 737 jet return to service still unknown, says pilot

  

  Bloomberg Federal regulators briefed pilots and US airlines on progress in restoring Boeing Co’s grounded 737 Max to flight, according to a pilots union spokesman who gave no indication when the jet will return to service. “We’ve taken off our watches and put the calendars in the drawer,” Dennis Tajer, an American Airlines pilot and spokesman for the Allied Pilots ...

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• 14 April

  Delta reduces seat reclines on some planes

  Bloomberg Delta Air Lines Inc reduces the amount that seats recline on some planes by about two inches (five centimetres), aiming to preserve the workspace of multitasking business travellers. The first Airbus SE A320s with the modified seats debuted recently, the carrier said. The distance that seats recline will drop to 3.5 inches from 5.4 in first class, and to ...

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• 14 April

  J Crew weighs Madewell IPO in crowded jeans market

  

  Bloomberg Blue jeans are having a moment. At least that’s what J Crew Group Inc is hoping as it considers bringing its Madewell business to the public markets in the wake of rival Levi Strauss & Co’s own $623 million offering. Madewell, the denim focussed starlet of the J Crew family, could go public as soon as the second half ...

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• 13 April

  Abu Dhabi signs deal with Microsoft to create ‘cloud centre of excellence’

  Emirates Business The Abu Dhabi Smart Solutions and Services Authority (ADSSSA) announced it has signed a memorandum of understanding (MoU) with Microsoft to establish a ‘cloud centre of excellence’ that will aim to build its capacity for the delivery of cloud services and platforms, as well as upskill the emirate’s public sector workforce. This partnership is aligned with ADSSSA’s strategy ...

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