September, 2018

• 2 September

  For electric cars, focus on the small picture

  

  Electric vehicles, prized for their acceleration, are speeding up. Bloomberg NEF estimates the global electric vehicle market will this week pass the milestone of 4 million sold to date, according to a report published recently. Having taken about five years to get to the first million, the last million were sold in about six months. Four million vehicles sold in ...

  Read More »
• 2 September

  The US is in the middle of an economic boom

  

  There’s no doubt that the US economy is in a boom. The Conference Board is reporting the highest levels of job satisfaction in more than a decade. This is probably because of a tight labour market — the ratio between the unemployment level and the number of job vacancies is at its lowest level in a half-century: A broader measure, ...

  Read More »
• 2 September

  ICBC profit rises most since ‘14 before ‘challenging’ times

  

  Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd. posted its fastest profit growth since September 2014 as margins and asset quality improved, but flagged challenging times ahead as the trade war with the US intensifies. Net income at the world’s largest lender by assets rose 5.8 percent to 81.6 billion yuan ($11.9 billion) in the quarter ended June from ...

  Read More »
• 2 September

  Offshore yuan gains most in week as China sends signal with fix

  

  Bloomberg The offshore yuan headed for its biggest gain in a week, after China set the daily reference rate for the onshore currency stronger than expected, stoking bets the government wants to stabilise the exchange rate. The Chinese currency rose 0.23 percent to 6.8517 per dollar in Hong Kong, while the onshore rate gained 0.11 percent. The yuan’s fixing was ...

  Read More »
• 2 September

  Pound investors face months of volatility into Brexit endgame

  

  Bloomberg The next few months are going to be fun for pound traders. Sterling’s volatility left political pundits scratching their heads last week, as European Union Chief Negotiator Michel Barnier’s promise to offer the UK an unprecedented partnership sent the currency soaring more than 1 percent even though he had said it before. With both sides warning of the risk ...

  Read More »
• 2 September

  Brexit means urgent refinancing as credit risks loom, says KPMG

  Bloomberg Mid-size UK companies may have just two months to refinance before a probable Brexit squeeze in credit markets, according to KPMG. Borrowers should lock down “refinancing before the end of October,” particularly exporters exposed to sales in euros, Joe Cassidy, KPMG’s Brexit banking and capital markets lead, said in an interview. “If you’re going to rush to refinance just ...

  Read More »
• 2 September

  Germany eyes EU banking champion in fix for Deutsche woes

  

  Bloomberg With Deutsche Bank AG and Commerzbank AG struggling, a chorus of German power players is suddenly stepping up calls for national champions big enough and strong enough to support the country’s export-driven economy. In the span of a few days, leading politicians, banking regulators and even Deutsche Bank’s chief executive officer have uniformly highlighted Europe’s, and especially Germany’s, fragmented ...

  Read More »
• 2 September

  No-frills Norwegian Air flies into Brazil’s red tape

  

  Bloomberg Welcome to Brazil and fasten your seat belt, Norwegian Air. The European carrier has won approval from the Brazilian government to begin flying in the country, expanding its network of discount trans-Atlantic flights to South America. But the airline will face mounting regulation that could work against its no-frills model. Brazil’s Senate approved a bill on August 8 prohibiting ...

  Read More »
• 2 September

  EasyJet moves pilots to new licenses amid ‘no-deal’ Brexit risk

  

  Bloomberg EasyJet Plc is shifting its pilots based in mainland Europe to Austrian and German licenses in an effort to minimise the potential fall-out from a no-deal Brexit. The 1,400 affected will be moved to licenses issued by Austria from November, an official at the Luton, England-based carrier said. German crew will be registered locally, while British pilots operating in ...

  Read More »
• 2 September

  United Continental joins JetBlue with $30 bag fee

  Bloomberg The $30 bag fee is gaining traction across US airlines as summer travel winds down and carriers look to boost revenue to offset higher fuel prices. United Continental Holdings Inc. increased the charge for passengers’ first checked bag by $5 last week, matching a move by JetBlue Airways Corp. earlier in the week. The fee changes apply to United ...

  Read More »