February, 2019

• 18 February

  Global rally skips India stocks as nation retaliates to attacks

  

  Bloomberg Indian equities declined, skipping a global rally, as investors assessed the nation’s retaliation to a deadly attack on its defense forces last week. Four security personnel and two militants were killed in the Indian army’s military encounter in Kashmir. The benchmark S&P BSE Sensex fell 0.9 percent to 35,498.44 at the 3:30 pm close in Mumbai, capping an eighth ...

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• 18 February

  Modi gets $4bn cash from India’s RBI before polls

  

  Bloomberg India’s central bank approved an early transfer of a part of its profit to the government, which is desperate for cash to fund populist pledges ahead of a national election. The Reserve Bank of India’s board, approved 280 billion rupees ($4 billion) as interim dividend, according to a statement. This is the second straight year that the RBI has ...

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• 18 February

  Yes Bank falls as India central bank censures selective disclosure

  

  Bloomberg Yes Bank Ltd. fell after India’s central bank reprimanded it for selectively revealing a “confidential” report by the regulator that led to a 30 percent surge in the lender’s shares. The regulator called the disclosure a “deliberate attempt” to mislead the public. The risk assessment report on Yes Bank prepared by the Reserve Bank of India identified several lapses ...

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• 18 February

  Deutsche Bank investor sold stock at double market price

  

  Bloomberg When HNA Group Co. became Deutsche Bank AG’s top shareholder in early 2017, the German lender’s shares were trading near two-year highs and the fledgling Chinese airline was voicing ambitions of turning into a big player on Wall Street. Then both firms ran into roadblocks. HNA has since lost its seemingly insatiable appetite for growth, embarking on a selling ...

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• 18 February

  DBS’s wealthy clients resume trading

  

  Bloomberg DBS Group Holdings Ltd.’s chief executive said rich clients are getting more active in trading again, recovering from fourth-quarter turmoil that caused a slump at its wealth management unit. “People just froze” because of the equity market sell-off late last year, Piyush Gupta said in an interview with Bloomberg Television on Monday, soon after his bank reported a 10 ...

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• 18 February

  ECB could change rates guidance, says Villeroy

  Bloomberg The slowdown of the European economy is “significant” and the European Central Bank could change its interest-rates guidance if it becomes clear the situation isn’t temporary, Governing Council member Francois Villeroy de Galhau said. The extent of the weakness at the end of 2018 has taken policy makers by surprise, with Italy entering recession and Germany narrowly avoiding the ...

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• 18 February

  Flybmi’s collapse over Brexit strands passengers in Europe

  

  Bloomberg The collapse of British regional airline flybmi over higher fuel prices and Brexit uncertainty has forced stranded passengers across Europe to fend for themselves, without the prospect of help from the UK government. UK student Mary Ward was in Brussels waiting for a flight to Newscastle when she received the airline’s text that said all flights had been cancelled, ...

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• 18 February

  Pakistan web retailer Yayvo seeks investors amid Alibaba battle

  

  Bloomberg Yayvo, Pakistan’s second-largest online retailer, is planning to bring in new investors amid competition from Alibaba Group Holding Ltd. The e-commerce company has appointed advisers to help with the fundraising, Yayvo’s head, Adam Dawood, said in an interview in Karachi last week. Yayvo aims to start meeting with potential investors in the Middle East and China next month, according ...

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• 18 February

  Payless to liquidate US stores, wind down online operations

  

  Bloomberg Payless Inc. is liquidating its US and Puerto Rico stores and shutting down its online operations as the upheaval in the retail industry claims its latest victim. The discount shoe chain is starting liquidation sales on February 17, and expects the stores to remain open until at least the end of March, according to a statement. The company was ...

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• 18 February

  Scrapping A380 gives Airbus’s new CEO a clean slate

  

  Bloomberg The news started coming thick and fast even before the sun was up over Airbus SE’s headquarters in the French city of Toulouse. There was a lot to digest: earnings, writedowns, cancelled and shifted orders, and not least the landmark decision to end production of the A380 doubledecker, an albatross of a plane that had hung awkwardly around the ...

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