July, 2016

• 16 July

  Staples to rebound strong from failed merger

  

    Bloomberg Staples Inc., looking to bounce back after a failed mega-merger, is bulking up its online selection and shortening delivery times to make the most of the back-to-school shopping season, which is more important for the office-supply retailer than the winter holidays. More than 1,000 products — including a wider assortment of technology products, such as headphones and tablets ...

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• 16 July

  Boeing eyes rivals as it turns ‘100’

  

    New York / AFP Boeing, creator of some of the world’s most iconic aircraft of the 20th century, commemorates its centennial this week facing multiple challenges to remain at the forefront of global aerospace innovation. At the top of the list is European archrival Airbus, which has topped Boeing in commercial orders in recent years and made inroads into the ...

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• 16 July

  Citigroup, Wells Fargo profits decline as margins squeeze

  

    Bloomberg Citigroup Inc and Wells Fargo & Co reported second-quarter profit dropped from a year earlier as persistently low interest rates continued to squeeze lending margins. Citigroup reduced its forecast for net interest margin, the difference between what a bank charges for loans and pays depositors, while Wells Fargo said the UK’s vote to leave the European Union will ...

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• 16 July

  Bank regulator flashes warning light over commercial real estate

  

    Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

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• 16 July

  Won rises to 2-month high as BOK keeps key rate at record low

  

    Bloomberg South Korea’s won rose to a two-month high after Bank of Korea Governor Lee Ju Yeol kept interest rates at a record low and said the government’s stimulus will boost growth by about 0.2 percentage point. Policy makers voted unanimously to leave the seven-day repurchase rate at 1.25 percent, as expected by all 20 economists surveyed. While South ...

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• 16 July

  JPMorgan’s Singapore investment bank head to join Temasek unit

  

    Bloomberg Fullerton Financial Holdings Pte, an arm of Singapore state investment company Temasek Holdings Pte, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter. Yeo will start ...

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• 16 July

  Currency dip triggers Russian central bank’s first loss since ’98

  

    Bloomberg Not since 1998 has Russia’s central bank booked a loss, but that may be about to change. The bottomline will suffer because the Bank of Russia is becoming a net borrower from lenders for the first time since 2011 as deficit spending by the government sends rubles cascading through the system, according to VTB Capital and Renaissance Capital. ...

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• 16 July

  From the world of men’s fashion

  

    RELAXNEWS Men’s fashion week in New York kicked off its third season this week with a presentation by Perry Ellis, whose athletic, casual take is expected to mark a number of spring-summer 2017 collections. Dozens of designers from Michael Kors to Tommy Hilfiger presented creations over the course of around 60 catwalk shows and presentations, which conjured a minimalist, ...

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• 16 July

  British Fashion Council focuses on menswear, retail and digital

  

    AFP The British Fashion Council (BFC) has unveiled three new non-executive directors to its board. British GQ Editor and London Fashion Week Men’s Chairman Dylan Jones, Founder and CEO of Farfetch José Neves and CEO of the Guardian Media Group David Pemsel have all been welcomed to the council’s board. They join existing board members Chairman Dame Natalie Massenet, ...

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• 16 July

  DSM re-opens with 2016 collections

  

    AFP London fashion hotspot Dover Street Market (DSM) has reopened following its seasonal changeover with a host of new spaces and collections. Alongside the new Autumn/Winter 2016 collections, the boutique space now features a punky event space installation by Comme des Garçons that houses some of the label’s most outlandish designs. Additional new spaces include a Daniela Gregis area ...

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