February, 2019

• 19 February

  Euro-area slowdown: ECB lays groundwork for response

  

  Bloomberg Some of the European Central Bank’s heavy hitters are laying the groundwork for action. The top economist and the market chief at the Frankfurt-based institution have already signalled they’re discussing options in case the current euro-area slowdown worsens, and the vice president echoed that on Tuesday. There have been similar hints from Francois Villeroy de Galhau, who is the ...

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• 19 February

  Greece submits plan to revive ailing banks

  Bloomberg Greece’s government submitted to the European Commission a plan to help the country’s banks speed up their bad-loan disposals, in a bid to restore confidence in the battered sector, according to two people familiar with the matter. Greek banks are grappling with 88.6 billion euros ($100 billion) of bad loans, a legacy of the country’s financial crisis. That constrains ...

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• 19 February

  HSBC bracing for riskier times after Q4 profit miss

  

  Bloomberg HSBC Holdings Plc is bracing for riskier times after missing fourth-quarter earnings estimates, warning that political tensions in its key markets have made the prognosis for 2019 far less predictable. Chief Executive Officer John Flint has vowed to keep a keener eye on costs while avoiding additional payouts to shareholders, after a disappointing quarter capped his first year in ...

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• 19 February

  $76 billion fund gives contrarian call for Indonesia interest rate cuts

  Bloomberg Indonesia’s central bank should signal interest-rate cuts to draw more foreign money into the nation’s bonds, according to a top emerging markets asset manager. The current-account deficit will remain manageable and Bank Indonesia has room to reverse some of the rate hikes it implemented last year, Anil Kumar, who helps manage about $76 billion of funds at Ashmore Plc, ...

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• 19 February

  Japanese M&A spree a boon for foreign banks

  Bloomberg Japan Inc.’s record acquisition spree is proving to be better news for overseas investment banks than for their home-grown rivals. Foreign firms led by Goldman Sachs Group Inc. grabbed the first three places in Japan’s merger advisory rankings last year, handling deals worth a combined 44.6 trillion yen ($403 billion), according to data compiled by Bloomberg. Nomura Holdings Inc, ...

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• 19 February

  US Air Force seeks new Boeing F-15 jets

  

  Bloomberg The US Air Force’s next budget will request funds for eight new F-15 fighter-bombers from Boeing Co., beefing up its inventory with an upgraded version of a plane it last bought in 2001, even as it pursues the more advanced F-35 from rival Lockheed Martin Corp. The F-15s will be proposed in the fiscal 2020 budget, expected around March ...

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• 19 February

  Norwegian dips to 7-year low after discounted share sale

  

  Bloomberg Norwegian Air Shuttle ASA slumped to an almost seven-year low after offering heavily discounted shares to raise about 3 billion kroner ($350 million) to shore up its balance sheet. The rights issue, underwritten by investors including John Fredriksen, Nor- way’s richest man, is intended to buy the Oslo-based airline time following the collapse of protracted talks with suitors including ...

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• 19 February

  South African Airways to create 3 separate units

  Bloomberg South African Airways will create three distinct business units focusing on domestic flights, pan-African travel and other international routes as the debt-laden airline battles to repair its balance sheet. The restructuring will not lead to a full breakup of the state-owned carrier, spokesman Tlali Tlali said by phone. Reuters had earlier reported the plan to separate into three divisions. ...

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• 19 February

  Delta, EasyJet mull $452mn Alitalia stake

  

  Bloomberg Delta Air Lines Inc. and UK discounter EasyJet Plc may invest as much as 400 million euros ($452 million) in the latest attempt to revamp struggling Italian airline Alitalia SpA, according to people familiar with an initial draft of the plan. Investors in a group led by rail operator Ferrovie dello Stato SpA are evaluating the financial needs of ...

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• 19 February

  UAE’s retail giant, SAP in digital transformation push

  

  Dubai / Emirates Business Majid Al Futtaim, one of the Middle East’s leading retailers, is spearheading the digital transformation of the region’s $313 billion retail market, both in taking a growing slice of e-commerce and enhancing Carrefour customer shopping experiences online and in-store. The Middle East retail sector is undergoing a sea-change. As more malls open, the GCC’s retail sector ...

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