July, 2018

• 31 July

  Euro-area economy gets higher inflation and weaker growth

  

  Bloomberg A bumper day of euro-area economic releases showed the region’s vital signs remain good, if not great. The region’s economic expansion entered a sixth year but growth slowed to just 0.3 percent, the weakest in two years. Inflation accelerated further above the European Central Bank’s goal, though that was largely driven by stronger energy prices. Unemployment remained at the ...

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• 31 July

  Glencore sees big jump in cobalt supply from Congo

  Bloomberg Glencore Plc increased cobalt production by almost a third after restarting output at its Katanga unit in the Democratic Republic of Congo. The Swiss commodity giant is seeking to double its production of cobalt in the next two years, tightening its grip on the market for the key battery material in electric vehicles. First-half cobalt output jumped 31 percent ...

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• 31 July

  US consumer confidence rises

  Bloomberg US consumer confidence increased modestly in July as Americans grew more upbeat about the economy and labor market, figures from the New York-based Conference Board showed. US confidence index rose to 127.4 (est. 126) from 127.1 in June (prev. 126.4). Present conditions measure increased to a 17-year high of 165.9 from a revised 161.7. A currently healthy labour market ...

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• 31 July

  Heatwave affects Thomas Cook as North Europeans shun beach trips

  

  Bloomberg Thomas Cook Group Plc said unusually hot weather is making its north European customers far less enthusiastic about booking last-minute beach holidays, weighing on the tour operator’s earnings. Summer bookings for the UK company’s package breaks were unchanged from last year through July 21, compared to a 3 percent gain through May, according to a statement on Tuesday, indicating ...

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• 31 July

  Stocks rise as US, China seek to avoid trade war

  

  Bloomberg US stocks climbed as industrial shares rallied after Bloomberg reported that the Trump administration is seeking to ease trade tensions with China. Most sovereign bond yields edged lower after the Bank of Japan pledged to keep its monetary policy ultra loose. The S&P 500 Index halted a three-day slide as Boeing Co, Caterpillar Inc and 3M Co all added ...

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• 31 July

  Triple-leveraged ETFs store up trouble for $8.5 billion fund

  

  Bloomberg Trouble in the leveraged ETF complex could spark a fresh volatility explosion that hits commodity investors in its wake, according to Macro Risk Advisors. The New York-based firm warns the VanEck Vectors Gold Miners ETF, ticker GDX, is vulnerable to outsized price swings if its tracked basket of stocks drops by 5 percent or more in a single day. ...

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• 31 July

  IndiGo Q1 profit dips 97%

  

  Bloomberg IndiGo, India’s biggest airline, fell to the lowest in 16 months as rising fuel prices and a weaker rupee led to its worst-ever quarterly profit in a fiercely-competitive market. The carrier, operated by InterGlobe Aviation Ltd., said net income dropped 97 percent to 278 million rupees ($4 million) in the three months through June, its worst quarterly result since ...

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• 31 July

  Ryanair strike woes worsen as German pilots vote for walkout

  

  Bloomberg Ryanair Holdings Plc’s labour crisis deepened as pilots in Germany voted to strike in a dispute over pay and conditions. Crews could walk out at 24 hours’ notice after more than 96 percent of respondents backed industrial action in a poll, the Vereinigung Cockpit union said. It set an August 6 deadline for the discount carrier to avoid disruption ...

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• 31 July

  Lotte mulls selling China malls amid anti-Korean sentiment

  

  Bloomberg Lotte Group, reeling from a wave of anti-Korean sentiment in China for more than a year, is considering selling some of its department stores in the country, a move that would accelerate the conglomerate’s withdrawal from the world’s second-largest economy. The sale of some of Lotte Shopping Co.’s five malls is among options being reviewed in the country, a ...

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• 31 July

  Cathay plans job cuts overseas amid competition from China

  

  Bloomberg Cathay Pacific Airways Ltd. offered a voluntary early retirement package to employees in Japan as part of a three-year restructuring effort to revive earnings growth. Cathay is undergoing a “comprehensive review” of regional organisation including Northeast Asia, which consists of Japan, Taiwan and Korea, the airline’s Japan office said in emailed comments. Employees in Japan were briefed on the ...

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