January, 2019

• 26 January

  Big US banks let stress tests make decisions

  

  Bloomberg If you’re a bond trader at a major bank, the next time you ask for an increase in your position limit, the answer is likely to be based on regulatory stress tests. Seventy-eight percent of global banks now use the tests to assess concentrations and set limits internally, according to a Deloitte survey. That’s up from 67 percent in ...

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• 26 January

  Banks’ presence shrinks in US corporate bond market

  

  Bloomberg The biggest issuers of US corporate bonds are easing up on selling new securities, which could translate to gains for investors holding the debt. Banks and other financial companies have sold around $50 billion of bonds so far this year, down more than 40 percent from the same period a year ago. For the largest US banks the decline ...

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• 26 January

  ‘Free float would send naira tumbling’

  

  Bloomberg A free float of Nigeria’s naira would cause capital flight and a “massive devaluation,” according to central bank Governor Godwin Emefiele. The nation’s current system of multiple exchange rates had produced the “most optimal results when compared with other emerging markets in recent times,” Emefiele told reporters after a meeting of the monetary policy committee (MPC). Emefiele was responding ...

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• 26 January

  Yes Bank lifts India equities to first gain in three days

  Bloomberg Indian equities — that fluctuated between gains and losses — capped their first advance in three days, boosted by a rally in shares of a private lender after it announced a new chief. The benchmark S&P BSE Sensex climbed 0.2 percent to 36,195.10 at the 3:30 pm close in Mumbai, after swinging at least twelve times between a high ...

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• 26 January

  LaGuardia chaos may have pushed to end US shutdown

  

  Bloomberg There certainly have been worse days at LaGuardia, O’Hare and Miami airports. But on January 25 some of these busy routes came to a brief but abrupt halt — and that may have been among the final pushes that led President Donald Trump, already under pressure, to reopen the government. The White House for weeks had tried to minimise ...

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• 26 January

  Kering owes $1.6 billion taxes, finds Italy audit

  

  Bloomberg Kering SA, the French owner of the Gucci luxury brand, owes about 1.4 billion euros ($1.6 billion) to Italy in back taxes, according to the conclusions of a government audit. The probe scrutinised business activities by Kering’s Swiss subsidiary, Luxury Goods International, from 2011 through 2017, according to a company statement. Kering said it contests the findings of the ...

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• 26 January

  Philippine Air owner denies stake sale report

  

  Bloomberg Billionaire Lucio Tan, who controls Philippine Airlines Inc., denied reports about a forthcoming stake sale days after ANA Holdings Inc. confirmed it’s in talks with the carrier’s listed parent PAL Holdings Inc. There’s “no plan” to sell, Tan, 84, said in an interview on the sidelines of a central bank event in Manila. News that a stake sale is ...

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• 26 January

  Delta Air delays debut of Airbus A220 in US

  Bloomberg Delta Air Lines pushed back the US debut of Airbus’s newest aircraft by a week because it can’t get needed approvals for the flights from the Federal Aviation Administration during the government shutdown. Inaugural flights of the Airbus A220 will be reset to February 7 from January 31, Morgan Durrant, a Delta spokesman, said. Other aircraft will be substituted ...

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• 26 January

  Haagen-Dazs, Tropicana want their packaging back now

  

  Bloomberg In the environmentalist mantra “reduce, reuse, recycle,” almost all of the attention has been paid to recycling. Now some of the world’s biggest consumer brands are trying to shift the focus to the second R, with a programme that provides products in reusable containers that can be returned for a refund. The durable packaging programme, called “Loop” — a ...

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• 23 January

  EU warns tariffs on $23b in US goods if Trump taxes cars

  

  Bloomberg The European Union is prepared to hit 20 billion euros ($22.7 billion) of US goods with tariffs should President Donald Trump follow through on a threat to impose duties on EU cars and auto parts, said a senior trade official for the bloc. The assertion by Jean-Luc Demarty, director general for trade in the European Commission, the EU’s executive ...

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