August, 2018

• 11 August

  Tesla going private would destroy CDS investors

  Elon Musk fired a bazooka in his war against Tesla Inc.’s equity market short-sellers when he announced he’s considering taking the company private. His plan would also most likely wipe out investors who bet the money-losing automaker would eventually default on its bonds. The cost to insure against Tesla failing to make good on its debt fell to an all-time ...

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• 11 August

  BoJ is committed to low interest rates, for now

  

  Japan may be just posing as an outlier. Yes, the Bank of Japan renewed its commitment to ultra-low interest rates just as other developed economies were moving towards further rate increases and an end to stimulus. But beneath the headlines about the BOJ’s pledge to keep printing money for an “extended period,” Governor Haruhiko Kuroda and his colleagues left clues ...

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• 11 August

  Hong Kong’s IPO takeoff is running out of runway

  

  Brace, brace. Hong Kong’s IPO takeoff is going to come to a screeching halt. There’s a flood of deals still in the pipeline, it’s true, from food delivery giant Meituan Dianping to biotech unicorn Innovent Biologics Inc. But investor fatigue is setting in, with many of the hot sales that helped to reignite the market in the past year trading ...

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• 11 August

  The bond market is developing a cash problem

  

  The US Treasury Department sold more 10-year notes than it ever had before to help finance a bulging budget deficit. Strategists generally deemed the $26 billion auction “solid.” And although that’s certainly true when comparing the results with recent auctions, it’s hard to ignore an inconvenient truth facing the bond market. Investors submitted bids for 2.55 times the amount offered, ...

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• 11 August

  Jet Air faces heat from India’s budget flight boom

  

  Bloomberg Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner. Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 8.5 percent in Mumbai after the company postponed announcing its first-quarter earnings. That’s less than ...

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• 11 August

  Ryanair strike pushes fliers into pricey bookings

  

  Bloomberg Ryanair Holdings Plc’s worsening spat with pilots and cabin crew has created confusion among panicked customers as they race to salvage travel plans disrupted by strikes. Travellers holding tickets from affected airports told of an online race to find alternative journeys with the Irish airline or switch to rival carriers, only to see prices spiralling higher as hundreds of ...

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• 11 August

  China probes chief of Shanghai airports for alleged corruption

  

  Bloomberg The Chinese Communist Party is probing the chairman of the Shanghai Airport Authority for alleged corruption as President Xi Jinping continues his more than five-year-old crackdown on graft. Wu Jianrong, 56, has come under under suspicion of violating party rules and state laws, according to a statement posted on the website of the party’s disciplinary watchdog in Shanghai that ...

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• 11 August

  UK billionaire Ashley buys House of Fraser for $115 million

  

  Bloomberg UK billionaire Mike Ashley swooped in to rescue the House of Fraser Ltd. department-store chain for 90 million pounds ($115 million), staving off collapse for an anchor of the country’s troubled shopping districts. Ashley’s Sports Direct International Plc agreed to acquire the 169-year-old retailer’s UK stores, brand name and inventory. The move came after House of Fraser, which employs ...

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• 8 August

  UAE is largest donor of emergency humanitarian aid to Yemen in 2018

  ABU DHABI / WAM The UAE has been ranked as the largest donor of emergency humanitarian assistance to Yemen in the world for 2018. According to the Financial Tracking Service (FTS), a centralised source of information on humanitarian funding flows, the UAE is also the second-largest source supporting the 2018 Yemen Humanitarian Response Plan (YHRP) following the Kingdom of Saudi ...

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• 8 August

  UAE, Sudan discuss investment in mining industry

  KHARTOUM / WAM Hamad Mohammed Humaid Al Junaibi, UAE Ambassador to Sudan, and Mohammed Ahmed Ali Ibrahim, Sudanese Minister of Minerals, have discussed issues of mutual interest and investment opportunities in the mining sector. In a meeting held at the ministry’s premises in Khartoum, the Sudanese Minister lauded the excellent bilateral relations, welcoming UAE investments in all fields especially in ...

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