December, 2018

• 4 December

  Danske has $2.7bn capital buffer: CEO

  

  Bloomberg Danske Bank A/S has built a capital buffer of as much as $2.7 billion to absorb potential fines as it deals with the fallout of its role in one of Europe’s worst ever money laundering scandals. Acting Chief Executive Officer Jesper Nielsen says the amount “significantly” exceeds what Denmark’s regulator has ordered Danske to hold in connection with the ...

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• 4 December

  Carney defends BOE’s Brexit scenarios report

  

  Bloomberg Mark Carney defended the publication of the Bank of England’s Brexit scenarios, telling Parliament that the institution couldn’t hold back its analysis once lawmakers had asked for it. The BOE had released a report on PM Theresa May’s deal and other Brexit outcomes. Its worst-case scenario for a chaotic exit sees the economy shrinking by 8 percent within a ...

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• 4 December

  Barclays Brexit preparation sets bar for top global banks

  

  Bloomberg Barclays Plc’s plan to quickly move European business to Dublin in preparation for Brexit is one of the most ambitious yet and gaining plaudits from regulators, according to people familiar with the talks. The UK lender plans to book almost half its EU-related trading risk within the bloc by the time the UK leaves, according to people familiar with ...

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• 4 December

  Mexico set for loss on AMLO sale of $219mn Dreamliner

  

  Bloomberg Mexican President Andres Manuel Lopez Obrador shouldn’t expect a windfall from his decision to sell the Boeing Co. 787 Dreamliner that has transported his predecessor since 2016. The so-called VVIP — very, very important person — aircraft is likely to generate a multimillion-dollar loss on the untested secondary market for customised 787s, according to an analysis by Flight Ascend ...

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• 4 December

  Airbus slams EU as UK plans to quit key defense programme

  

  Bloomberg Airbus SE blamed the European Union for the UK’s decision to quit the Galileo satellite-defense programme, after the country was denied a central role in the 10 billion-euro ($11 billion) project after Brexit. The move will deal a “serious blow to the EU’s common security and defense ambition,” Chief Executive Officer Tom Enders said in an Airbus Twitter post. ...

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• 4 December

  Airlines take a dip as oil surges on production cut

  Bloomberg The turbulence in airline stocks is yet to ease as news of fresh production cuts and calming trade concerns sent oil prices surging. US airline shares have traded closely with fluctuations in oil prices over the past few months, especially after several carriers were forced to trim their profit outlook citing soaring jet fuel costs that pressured margins. When ...

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• 4 December

  Lululemon founder to join bid for Amer

  

  Bloomberg The founder of yoga-apparel retailer Lululemon Athletica Inc. is close to joining the Chinese investor group pursuing a takeover of Amer Sports Oyj, owner of brands including Wilson tennis rackets, people familiar with the matter said. Canadian billionaire Chip Wilson is in talks to take around a 20 percent stake as part of the consortium led by Anta Sports ...

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• 4 December

  Robot janitors coming to mop Walmart floors

  

  Bloomberg Robots are coming to a Walmart Inc. near you, and not just as a gimmick. The world’s largest retailer is rolling out 360 autonomous floor-scrubbing robots in some of its stores in the US by the end of the January, it said in a joint statement with Brain Corp., which makes the machines. The autonomous janitors can clean floors ...

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• 4 December

  UK consumer spending growth slows

  Bloomberg UK consumer spending growth slowed in November as concerns about Brexit prompted households to become more cautious with their cash. Spending grew 3.3 percent in November, the weakest pace since extreme cold weather dubbed the “Beast from the East” kept shoppers away from stores in March, according to a report by Barclaycard published on Tuesday. The proportion of UK ...

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• 3 December

  Oil rises most since June on trade war truce, Saudi-Russia pact

  

  Bloomberg Oil surged the most in more than five months as Saudi Arabia and Russia extended a cooperation pact and US-China trade tensions cooled. Unprecedented supply cuts in Canada also drove prices higher. Futures in New York advanced almost 6 percent on Monday, bouncing back from the worst monthly slump in a decade. Although Russia and Saudi Arabia have yet ...

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