July, 2018

• 22 July

  BOJ’s Kuroda keeps mum on possible steps to soften easing pain

  

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda stuck to the bank’s playbook, declining to comment on reports that policy makers are considering measures to soften the side effects of their aggressive monetary easing campaign. Remarks on the issue wouldn’t be appropriate given the proximity of the bank’s monetary policy meeting, Kuroda said, adding that any policy decision will require ...

  Read More »
• 22 July

  Lloyds payment protection charge mounts in Q2

  

  Bloomberg Lloyds Banking Group Plc may set aside hundreds of millions of pounds in the second quarter to compensate customers improperly sold payment protection insurance as claims continue to flood in. The redress costs will add to about 18 billion pounds ($23 billion) already booked by Britain’s biggest mortgage lender since the start of the scandal. Analysts at Morgan Stanley ...

  Read More »
• 22 July

  EU bank-failure rules leave Austria’s Volksbanken with liquidity to burn

  

  Bloomberg The European Union’s bank-failure rules are forcing Austria’s Volksbanken to open up the lending tap, a strategy reminiscent of the one that nearly brought down the cooperative group a few years ago. The irony has arisen because the EU requires banks to have sufficient loss-absorbing liabilities on their books to cover the costs of their restructuring and refinancing in ...

  Read More »
• 22 July

  China regulator prods banks to lend more

  Bloomberg China’s banks are being offered cash and given instructions to lend more, as regulators attempt to support a slowing economy. The banking and insurance regulator has asked financial institutions to “earnestly implement” plans to help reduce financing costs for small firms, saying that big lenders should “take the lead”, according to a statement posted on its website. Meanwhile, the ...

  Read More »
• 22 July

  Bank of Korea sees possible impact from China deleveraging plan

  

  Bloomberg The economy of South Korea, which is very reliant on China, may see more adverse impact than previously expected from China’s plan for deleveraging, the Bank of Korea said in a report on Sunday. South Korea’s gross domestic product growth could be 0.3 percentage point less than expected in 2018 and maybe 1.2 percentage point less in 2020 because ...

  Read More »
• 22 July

  Nigeria seeks foreign help for 30-aircraft, 80-route airline

  

  Bloomberg Nigeria revealed plans for a new national airline and said a majority stake could be available to an overseas backer as it seeks know-how and cash to help the startup avoid the fate of former flag carriers. The West African state has no cap on overseas ownership of its airlines and would be prepared to offer more than 50 ...

  Read More »
• 22 July

  ‘Saab could join UK-led fighter plan’

  

  Bloomberg Saab AB, maker of the Gripen warplane, said it’s interested in joining a UK-led project to develop a cutting-edge combat aircraft that would be a mainstay of defense programs in two decades time. While Saab is also evaluating a rival Franco-German fighter plan, the Tempest programme funded by Britain’s Ministry of Defence and including BAE Systems Plc and Rolls-Royce ...

  Read More »
• 22 July

  AirAsia A330 order helps Airbus survive death match with Boeing

  

  Bloomberg Airbus SE managed to stave off a devastating blow to its struggling A330neo widebody program from chief rival Boeing Co., securing a commitment for 34 more planes from the aircraft’s biggest customer, AirAsia Group Bhd. While the $10 billion order from the Malaysian airline’s long-haul arm ranks among the larger deals announced at the Farnborough air show this week, ...

  Read More »
• 22 July

  Sports Direct tumbles as Debenhams bet backfires

  

  Bloomberg Sports Direct International Plc investors have been left counting the cost of billionaire founder Mike Ashley’s wheeling and dealing. The UK sportswear retailer reported a 73 percent decline in full-year pretax profit. The drop was mainly due to a one-time charge of 85.4 million pounds ($111 million) related to its investment in struggling department store chain Debenhams Plc. Sports ...

  Read More »
• 22 July

  Uganda Airlines eyes Airbus, Bombardier jets

  Bloomberg Bombardier Inc. said Uganda Airlines signed a firm order for four new CRJ900 jets as the East African nation seeks to resuscitate its moribund carrier after two decades. The country also signed a memorandum of understanding for two A330neo, Airbus SE said in a statement on its website, without providing cost details. “Based on the list price for the ...

  Read More »