July, 2018

• 16 July

  Global growth peaked with a whimper, not a bang

  That was the high point? We’ve probably seen the best of global growth for this cycle, but the peak wasn’t marked by the traditional catalysts for a slowdown like higher interest rates or a financial blowup. Instead it’s a different scene in each of the biggest economies — with the US powering ahead, Europe and Japan drifting after a stellar ...

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• 16 July

  Google’s day of reckoning is about next billion users

  

  You have to give one thing to Facebook Inc: Confronted by a torrent of accusations of misbehaviour over the past 12 months, the world’s largest social network has at least made the effort to be conciliatory. The same cannot be said about Alphabet Inc’s Google. The European Commission will reveal the punishment for the search giant’s practice of forcing smartphone-makers ...

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• 16 July

  There’s no subprime bubble in Chinese auto industry loans

  

  Slowing car sales and tightening credit look like a toxic combination for China’s auto-financing industry, which has exploded in past few years. Concerns the sector is heading for a subprime-like meltdown may be overblown, though. Sales in the world’s largest car market rose 2.3 percent in June from a year earlier, data showed last week. While faster than several analysts ...

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• 16 July

  France’s tax cuts drive are not helping everyone

  

  The French state has, at times, been as close to a nanny state as it gets. But that doesn’t mean France lacks a thriving charity and non-governmental sector. On the contrary, France’s charity sector is massive, with some 1.3 million estimated non-profit groups. They spend close to 3.4 percent of French GDP, and employ close to 2 million people, with ...

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• 16 July

  Banks are building super-speed money highway in the Nordics

  

  Bloomberg The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions. The aim is to make it possible to clear payments and settle accounts within seconds, regardless of currency. The P27 project — so-called for the 27 million people ...

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• 16 July

  Citi says Trump ‘brutal’ on trade policies but sees deals by midterms

  

  Bloomberg After US moves on global trade policy that have shredded decades of trust, watch out for deals to be struck before the midterm elections in November, Citigroup Inc. said, flagging a potential rebound in commodity prices towards the year-end that’s aided by still-robust fundamentals. “US trade actions have been brutal and unilateral and have punctured the trust built up ...

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• 16 July

  Deutsche Bank Q2 results top estimates

  

  Bloomberg Deutsche Bank AG surprised investors with second-quarter earnings that were higher than analysts had expected, driving one of Europe’s worst-performing bank stocks up the most in more than a year. The Frankfurt-based bank sees net income of about 400 million euros ($468 million) and income before income taxes of about 700 million euros, “considerably” above estimates. The preliminary results ...

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• 16 July

  BlackRock, Schroders are in race for Lloyds’ $144 billion mandate

  

  Bloomberg BlackRock Inc. and Schroders Plc are the frontrunners to oversee about 109 billion pounds ($144 billion) for Lloyds Banking Group Plc, one of the biggest mandates of its kind, people with the knowledge of the process said. A decision by the London-based bank is expected in the third quarter, said the people who asked not to be identified because ...

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• 16 July

  Wells Fargo breaks from herd on loans, says it’s time to be prudent

  

  Bloomberg With interest rates rising and borrowers keeping up on payments, bank shareholders want to see which lenders are taking advantage. One big firm is hanging back. Wells Fargo & Co., under the thumb of a regulatory asset cap, rattled investors by posting the only decline in loans as the top US banks began reporting quarterly results. While JPMorgan Chase ...

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• 16 July

  Airbus wins $9.2bn of jet orders from Asian carriers

  

  Bloomberg Airbus SE kicked off its sales campaign at this year’s biggest air show by announcing $9.2 billion of orders from Asian carriers that are augmenting their fleets to meet surging demand for air travel in the region. Taiwanese startup StarLux Airlines said it is buying 12 A350-1000 aircraft and five of the smaller A350-900s in a deal valued at ...

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