September, 2018

• 12 September

  Bank of England may support pound amid brighter data, hopes of Brexit deal

  

  Bloomberg The pound’s fortunes are being dictated by Brexit and recent optimism over a deal could lead to a more hawkish-sounding Bank of England driving the currency higher. Market bets on further BOE policy tightening have receded in recent weeks following August’s quarter-point interest-rate increase, with the next hike not fully priced in until the end of 2019. While this ...

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• 12 September

  Alantra hires dealmakers from China amid M&A

  

  Bloomberg Alantra Partners SA, a Spanish investment bank, has hired three bankers in Shanghai as Chinese companies increasingly turn to Europe for overseas mergers and acquisitions. Alantra has hired Richard Zhu to head the firm’s China M&A business as managing partner, according to a spokesman for the bank. Zhu, who has more than 15 years’ experience in finance, was previously ...

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• 12 September

  VTB head warns clients may not get dollars back if ban hits

  

  Bloomberg Russians with bank accounts in dollars may find they can only make withdrawals in other currencies if new sanctions proposed by US lawmakers take effect. “I am sure that all the clients of all banks should receive their money back; that’s the principal approach,” VTB Group Chief Executive Officer Andrey Kostin said. “How, in which currency, is a different ...

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• 12 September

  Germany reportedly open to Commerzbank, Deutsche tie-up

  Bloomberg The German government is open to a merger between the country’s two biggest listed banks, a magazine report said. German Finance Minister Olaf Scholz “could envisage” a tie-up between Deutsche Bank AG and Commerzbank AG, Spiegel reported, without saying how it obtained the information. It said that Deutsche Bank CEO Christian Sewing and Commerzbank CEO Martin Zielke are also ...

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• 12 September

  Bank of Tanzania rejects ‘media’ claims of printing $656 million

  Bloomberg Bank of Tanzania refuted social-media allegations about printing notes valued at 1.5 trillion shillings ($655.9 million) for the government’s use. “The central bank informs the public that the statement is incorrect and intends to affect the trust of citizens and international stakeholders on Tanzanian financial stability,” the central bank said in an emailed statement. The government’s overdraft at the ...

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• 12 September

  Poland wants share of Asian flights with ‘airport project’

  

  Bloomberg Poland is banking on booming passenger and cargo traffic to help turn its planned transportation hub into a key European gateway to Asia and is open to looking for partners in the far East to help finance it. The European Union’s largest eastern economy plans to plow as much as $9.4 billion by 2027 into building a 45-million passenger ...

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• 12 September

  Rolls-Royce falls as engine failure spurs design fears

  

  Bloomberg Rolls-Royce Holdings Plc fell the most in more than a year after the in-flight shutdown of one of its engines on an Airbus SE A350 jet raised concerns that the model may be the latest afflicted by a design defect. The captain of the Iberia flight from New York to Madrid made an emergency landing in Boston 1 1/2 ...

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• 12 September

  Only London – S’pore budget flight scrapped

  

  Bloomberg The only budget flights between London and Singapore will end in January when Norwegian Air Shuttle ASA scraps the long-haul route little more than a year after it started. The last flight to London will leave Singapore on January 11, according to Norwegian’s customer booking line. The airline’s website shows no flights on the route beyond that month. The ...

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• 12 September

  Hermes posts record H1 profitability on China boom

  Bloomberg Hermes International reported record first-half profitability as the maker of $10,000-plus Birkin handbags benefited from brisk sales in China, a trend that shows no sign of easing off even as stock prices slump in the Asian nation. Recurring operating income amounted to 34.5 percent of sales, up 0.2 point, the Paris-based company said in a statement. Analysts predicted 34.4 ...

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• 12 September

  Amazon business supply programme may reach $25bn

  

  Bloomberg Schools, hospitals and governments have quickly embraced Amazon.com Inc. as a go-to source for supplies, propelling the company’s three-year-old business platform into a $10 billion annual enterprise. Its success may soon provide as much revenue as the Amazon Web Services cloud-computing division and its digital-advertising services. The e-commerce giant likely will keep expanding the business service internationally — currently ...

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