January, 2019

• 20 January

  Bonus blues at Europe banks hits ING

  

  Bloomberg It’s shaping up to be a sad bonus season for Europe’s battered bankers. ING Groep NV said payouts will be “significantly smaller” after the largest Dutch lender paid record fines to end a money-laundering probe. Two of France’s top banks are also weighing lower rewards after their trading units were hit by a broader downturn. At Deutsche Bank AG, ...

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• 20 January

  Deutsche Bank sees danger of US recession

  Bloomberg A combination of the China trade war and government shutdown could be enough to tip the US economy into recession this year, according to Torsten Slok, Deutsche Bank’s chief international economist. The stark warning comes amid emerging signs that the world’s biggest economy is slowing down as gauges of manufacturing and consumer sentiment have fallen in recent weeks. Economists ...

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• 20 January

  Angola’s central bank chief may shut down more banks

  

  Bloomberg Angola’s central bank, which revoked two lenders’ banking licenses this month, will shut down more institutions if they fail to meet minimum capital levels amid an asset-quality review, Governor Jose Lima de Massano said. Bad loans have crippled the banking sector of Africa’s second-biggest oil producer after a sharp drop in crude prices in mid-2014 triggered a three-year economic ...

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• 20 January

  Debt-laden Jet Air working with banks on bailout plan

  

  Bloomberg Jet Airways India Ltd is working with lenders to revamp its debt as the struggling carrier tries to shore up its financials after recording losses in nine of the past eleven years in a market known for ultra-low fares. The carrier is working on “various options on the debt-equity mix, proportion of equity infusion,” the Mumbai-based company said in ...

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• 20 January

  US travel pain grows over winter storm

  

  Bloomberg A one-two punch of bad weather and longer airport security lines mean it’ll be a miserable weekend for many travellers in the US. Winter storm Harper, a blizzard that the National Weather Service expects to travel from the Midwest through New England and the Northeast, may leave up to 18 inches of snow. In addition, severe thunderstorms with damaging ...

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• 20 January

  UK retail property values may be slashed, says Sunday Times

  

  Bloomberg Values of UK shopping centres and high street stores could be reduced significantly after property agents were told to reflect the seismic changes sweeping the retail industry, the Sunday Times reported. The Royal Institution of Chartered Surveyors told valuers to be “aware of the potential for significant changes in value” in retail properties, the newspaper reported, without saying where ...

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• 20 January

  Ryanair shares drop after cutting outlook

  

  Bloomberg Ryanair Holdings Plc shares dropped to a four-year low after the airline cut its full-year profit guidance, citing an industrywide slump in ticket prices and over-capacity across Europe this winter. The region’s biggest discount airline now expects an after-tax profit in the range of $1.1 billion to 1.1 billion euros, excluding its new Lauda unit, for the year through ...

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• 20 January

  Crashed Lion Air jet’s recorder has 2 hours of ‘voices’

  Bloomberg Indonesian investigators will start analysing next week more than two hours of conversation held in the cockpit voice recorder of a jet that crashed into the Java Sea in October as they seek to unravel the cause of the nation’s worst aviation disaster in two decades. The National Transportation Safety Committee expects to finish transcribing 124 minutes of recording ...

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• 20 January

  Gymboree to shut doors after turnaround collapses

  

  Bloomberg Gymboree Group Inc will shut down after going bankrupt a second time, the victim of falling mall traffic and cheaper online sources of kids clothing. About 10,000 people could lose their jobs. The retailer filed for protection from creditors owed about $212 million in US Bankruptcy Court for the Eastern District of Virginia, according to a statement. The San ...

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• 19 January

  UAE, Saudi launch 7 joint initiatives in key sectors

  

  ABU DHABi / WAM The Executive Committee of the Saudi-Emirati Coordination Cou-ncil held its first meeting in Abu Dhabi with the participation of all 16 members from both sides to follow up on the execution of the joint initiatives outlined in the ‘strategy of resolve’. The strategy includes areas of collaborations and sets forth the joint vision of economic, social ...

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