November, 2018

• 28 November

  Bitcoin slump looks like a currency crisis

  

  Bitcoin is in crisis. You can never really declare it dead — the idea of an electronic currency that is theoretically borderless and lawless will always live on somewhere — but its price has slumped 80 percent in less than a year, wiping about $700 billion off cryptocurrency markets. Where does it go from here? True believers are betting on ...

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• 28 November

  Africa’s good news goes beyond peace, prosperity

  

  There’s a general feeling of optimism about Africa these days. And the good news, which runs deeper than rapidly improving health and quality-of-life indicators, deserves a closer look. Perhaps most significant, a relatively high proportion of sub-Saharan Africa is at peace today. It is more stable and less prone to conflict, relative to previous decades. Violence in the Congo region ...

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• 28 November

  Banks grappling with bad loans could get lift from EU

  

  Bloomberg Banks from Greece to Italy that are struggling to get rid of a mountain of bad loans may soon get some help from European Union lawmakers. A bill that’s nearing the finish line in Brussels would soften the capital hit banks usually face when they sell non-performing loans at a loss. That could give a boost to Italian lenders, ...

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• 28 November

  Pimco sole buyer of UniCredit’s all $3 billion bonds

  

  Bloomberg UniCredit SpA paid a high price to close a $3 billion bond sale in a stressed market and the big winner looks to be Pacific Investment Management Co. Pimco was the sole buyer of the bank’s surprise sale of five-year bonds, two people with knowledge of the transaction said, asking not to be identified because the matter is private. ...

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• 28 November

  Yes Bank tumbles in dollar bond market

  

  Bloomberg Indian lender Yes Bank Ltd tumbled by a record in the dollar bond market and suffered another share price plunge after Moody’s Investors Service cut its credit rating to junk, making the lender a so-called fallen angel. Losing an investment-grade score is rare among Indian private-sector banks. The lender is now the only junk-rated one among four such lenders ...

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• 28 November

  Puerto Rico to make first bank debt swap deal

  Bloomberg Puerto Rico is poised to restructure the Government Development Bank’s debt by exchanging its bonds for $2.6 billion of new securities, the first such debt swap for the US territory since it collapsed into bankruptcy in May 2017. The transaction will restructure about $4 billion of Government Development Bank debt. Under a previously arra-nged agreement, investors will exchange their ...

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• 28 November

  Deutsche Bank makes management changes after setbacks

  

  Bloomberg Deutsche Bank AG’s management changes have yet to run their course. Germany’s largest lender is replacing senior executives in the US and is considering changing staff who tend its relationships with regulators, according to a person with knowledge of the matter. The moves come on the heels of strong cuts to the US operations and after authorities in the ...

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• 28 November

  Brexit uncertainty starting to hurt bookings, say airlines

  

  Bloomberg After two years of insisting that Brexit has had no impact on flight bookings, UK airlines are starting to see the first evidence to suggest sales are taking a hit. Virgin Atlantic Airways Ltd. and discount operator Jet2 have said demand is being depressed by the weaker pound, a trend that could deepen as UK political opposition threatens to ...

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• 28 November

  Airlines’ stocks jump as Spirit Air boosts optimism

  

  Bloomberg Airline stocks extended this month’s rebound, outperforming the broader market after Spirit Airlines Inc.’s upbeat outlook suggested the industry’s turnaround may be gaining momentum. Spirit surged as much as 22 percent, the most on record, and the S&P Supercomposite Airlines Industry Index was up nearly 2 percent. The S&P 500 Index was little changed. The airline index, which does ...

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• 28 November

  Faulty Lion Air jet sensor not fixed before crash, finds report

  

  Bloomberg A malfunctioning sensor at the centre of the investigation into the October 29 crash of a Lion Air jetliner into the Java Sea wasn’t repaired before the fatal flight even though it had failed on the plane’s previous trip, according to a preliminary investigative report. A mechanic worked on other sensors and equipment during a night shift before the ...

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