July, 2018

• 11 July

  ECB throws water on investor Sunlounger

  

  The European Central Bank lost control of the euro money market yield curve, and it wants it back. It has just snapped back on the leash by sending as clear a message as it can – within the incredibly tight framework it has set for itself – that it thinks rate expectations are too low. At its last policy meeting, ...

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• 11 July

  RIP Nano. World’s cheapest car goes up in smoke

  

  A moment of silence, please, for the world’s cheapest car, which has all but died in India. It was almost 10 years old. The Nano’s death was confirmed by production numbers: Tata Motors Ltd produced 1 unit in June, down from 275 in the same month last year. Exports were zero, versus 25 in June 2017. The company acknowledged that ...

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• 11 July

  Deutsche bank woos buyout giants to finance more deals

  

  Bloomberg Deutsche Bank AG is deploying top executives, as well as billions of dollars, as it seeks to win more business with Wall Street’s most active dealmakers. Chief Executive Officer Christian Sewing and other senior managers at the bank have fanned out in recent weeks to meet leaders of big US private equity firms, looking to strengthen relationships and drum ...

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• 11 July

  Goldman conjures $20bn bond trade from ETF boom

  

  Bloomberg Goldman Sachs Group Inc. is using its position in the $800 billion market for exchange-traded bond funds (ETF) to build a business that its Wall Street rivals now want to emulate. The bank has this year almost tripled the volume of ‘‘credit portfolio trades,’’ whereby it buys or sells large scale blocks of securities through ETFs, to around $20 ...

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• 11 July

  Barclays ends 100-year-old Africa presence

  

  Bloomberg Barclays Africa Group Ltd. is no more. And with that a chapter closes on its former British parent’s 100-year history on the continent. The lender on Wednesday ditched the name to revert to Absa Group Ltd. as it severs ties with Barclays Plc after the London-based company sold down the controlling stake it bought in 2005. The Johannesburg-based company ...

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• 11 July

  New Malaysia central bank chief strikes neutral tone on rate

  

  Bloomberg Malaysia’s central bank kept its benchmark interest rate steady in the first policy meeting under a new governor, providing support to an economy that Prime Minister Mahathir Mohamad is trying to revamp. Bank Negara Malaysia held the overnight policy rate at 3.25 percent, it said in a statement in Kuala Lumpur on Wednesday, as predicted by all 19 economists ...

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• 11 July

  Danske fine may be $670mn as analysts look at new evidence

  

  Bloomberg There are so far no charges or convictions, but analysts are already guessing how big a fine Danske Bank A/S might have to pay following allegations it became a major hub for money laundering in Europe. A potential penalty could be as high as $4.7 billion or as low as $315 million, and estimates average out at $670 million, ...

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• 11 July

  Airbus secures $5.4bn deal from JetBlue for A220 planes

  

  Bloomberg JetBlue Airways Corp. is placing a big bet on Airbus SE’s newest jetliner. The carrier is ordering 60 of Airbus’s A220 jets, the freshly rechristened plane formerly known as Bombardier Inc.’s C Series. July 10’s sale, valued at $5.4 billion based on list prices before customary discounts, is the first since Airbus took control of the aircraft programme from ...

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• 11 July

  China Eastern plans $2.2 billion share sale to fund aircraft

  

  Bloomberg China Eastern Airlines Corp., one of the nation’s top three carriers, is raising as much as $2.2 billion from a sale of shares to help fund purchases of aircraft and engines as the company expands its fleet to meet surging demand for air travel. The state-owned airline proposes to sell as many as 1.62 billion shares on the mainland ...

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• 11 July

  Sainsbury names new chief before Asda deal

  Bloomberg UK grocer J Sainsbury Plc named Martin Scicluna as its chairman, tapping a former senior executive at accounting firm Deloitte as it prepares to add Walmart Inc.’s Asda unit in a $9.7 billion deal. Scicluna, who is also chairman of RSA Insurance Plc, will replace David Tyler in March or soon after, following a five-month handover period, Sainsbury said. ...

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