March, 2019

• 4 March

  BNP wins dismissal of suit over $186mn ‘fat finger’ mistake

  

  Bloomberg BNP Paribas SA won dismissal of a German lawsuit by a trader seeking 163 million euros ($186 million) for a “fat-finger” mistake in a 2015 transaction. The Frankfurt Regional Court on February 26 ruled it can’t look into merits of the case, which involved an error on the bank’s system that displayed derivatives priced at 108.80 euros each instead ...

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• 4 March

  Dalton calls for buybacks, board seat at Shinsei Bank

  

  Bloomberg Dalton Investments stepped up its pressure on Shinsei Bank Ltd., continuing a years-long effort to bring change at the Japanese lender. The US investment firm is proposing that its co-founder, Jamie Rosenwald, be put on Shinsei’s board, according to a copy of a letter to Shinsei provided by Dalton to Bloomberg. Dalton also renewed its call for the bank ...

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• 4 March

  Euro area has a glimmer of hope as ECB waits for slowdown response

  

  Bloomberg Scratch below the surface of the euro area’s dismal economic numbers and there’s a glimmer of hope that things could improve. While inflation remains in hibernation and factories are seeing orders drop, companies are continuing to hire and consumers are spending more from their rising wages. That’s why European Central Bank officials are showing reluctance to race into action ...

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• 4 March

  German growth to remain subdued: Bundesbank

  

  Bloomberg German economic growth is likely to remain subdued at least through the first half of the year as deteriorating business expectations threaten to hamper company investment — yet there’s no reason for concern, according to the Bundesbank. “There are no signs that the slowdown is morphing into a downturn,” the country’s central bank said in its monthly report. Some ...

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• 4 March

  Pentagon seeks fewer Lockheed F-35s in 2020

  

  Bloomberg The Pentagon will request 78 F-35 jets built by Lockheed Martin Corp, six fewer than previously planned, in the budget expected to be sent to Congress next week, according to defense officials. The cutback from the 84 fighters projected a year ago for fiscal 2020 is a setback for Lockheed, the No. 1 defense contractor, even as interest in ...

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• 4 March

  South African Airways files fraud charges against former pilot

  

  Bloomberg South African Airways has laid fraud charges against a former pilot after finding out that he operated international flights with the wrong type of license. SAA is seeking to reclaim “millions of rand” paid to the aviator on the assumption that he held an Airline Transport Pilot License, it said in a statement. Following an incident involving a flight ...

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• 4 March

  Use of automation increases in air travel

  

  DUBAI / Emirates Business Airline passengers are using automated technology for passport checks at double the rate recorded in 2017 and are more satisfied when doing so too. This is according to the SITA 2019 Passenger IT Insights, co-sponsored by Air Transport World, which shows that in 2018, 44% of passengers sailed through automated passport control, a jump from 21% ...

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• 4 March

  DSW lures millennials with nail salons in stores

  

  Bloomberg Nothing like a fresh pedicure to show off a new pair of sandals. At least, that’s what DSW Inc. is banking on as it tries to accelerate shoe sales by adding nail services inside more of its stores. The retailer said it’s adding nail salons to five shoe stores this year in Washington, Austin, Texas; and Dublin, Ohio. DSW ...

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• 4 March

  Australia, Indonesia sign free trade deal as elections near

  

  Bloomberg Indonesia and Australia signed a free-trade agreement, overcoming more than eight years of negotiations and 11th-hour delays in a move designed to bolster their under-developed economic relationship. Indonesia’s Trade Minister Enggartiasto Lukita and Australia’s Trade Minister Simon Birmingham inked the deal in Jakarta on Monday. It will need to be ratified by parliaments in both nations before it comes ...

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• 4 March

  China plans $90b cut in VAT rate for manufacturers

  

  Bloomberg China is planning to cut the value-added tax rate that covers the manufacturing sector by 3 percentage points as part of measures to support the slowing economy, a person familiar with the matter said. The reduction in the highest of the nation’s three VAT brackets could be announced as soon as this week, when political leaders are gathering in ...

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