June, 2018

• 19 June

  Stocks decline, bonds rally as trade fears build

  

  Bloomberg Investors dumped riskier assets as a trade dispute between the world’s two largest economies showed signs of deepening and accelerating. Stocks dropped, Treasuries rallied and the dollar climbed with the yen. The S&P 500 sank the most in three weeks with industrial companies getting hit hardest after President Donald Trump threatened tariffs on another $200 billion of Chinese goods, ...

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• 19 June

  Commodities slide as US-China spat hits soy to steelmakers

  

  Bloomberg A rout in commodities deepened as the threat of a trade war between the world’s two biggest economies intensified, hitting markets from steelmakers to soybeans. As the tit-for-tat trade dispute between the US and China stepped up, a Bloomberg gauge of commodities fell to the lowest since early April, with agriculture being the worst hit. Almost all raw materials ...

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• 19 June

  US banks set to boost payouts by $30bn

  

  Bloomberg Harsher Federal Reserve stress tests this year won’t stop US banks from increasing their payouts to shareholders. As the annual review gets underway this week, the 25 largest lenders are gearing up to announce dividends and buybacks totaling roughly $30 billion more than last year, representing a 25 percent increase, according to analysts’ estimates compiled by Bloomberg. JPMorgan Chase ...

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• 19 June

  BOE rate hike in question as economy falters

  

  Bloomberg Economists are increasingly questioning whether the Bank of England will raise interest rates in the coming months. Less than 55 percent of analysts surveyed by Bloomberg expect a hike in August, down from 60 percent in a similar poll in May. BOE officials are gathering this week for their June policy meeting, the minutes of which have the potential ...

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• 19 June

  ICICI Bank chief Chanda Kochhar to go on leave as allegations probed

  

  Bloomberg Chanda Kochhar, chief executive officer of ICICI Bank Ltd. will be going on leave as a panel appointed by the lender probes allegations against her. The bank’s board, which met in Mumbai, has decided to accept her request for going on leave, according to exchange filings. Sandeep Bakhshi, CEO of ICICI Prudential Life Insurance Co., will be chief operating ...

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• 19 June

  PBOC injects $31bn into Chinese economy

  Bloomberg The People’s Bank of China is using both money and words to try to ease market concerns about escalating trade tensions and the weakening economy. The central bank injected another 200 billion yuan ($31 billion) into the economy via its medium-term lending facility on Tuesday. Combined with the funds it added earlier this month, that’s a net injection of ...

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• 19 June

  ECB will be patient for first interest rate hike, says Draghi

  

  Bloomberg Mario Draghi promised that the European Central Bank will take its time to lift interest rates, reinforcing last week’s agreement by policy makers to keep borrowing costs unchanged at least through the summer of 2019. “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter,” the ...

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• 19 June

  At $9.7 million a pop, private jets luring buyers once again

  

  Bloomberg If anyone’s looking for further evidence of a strong economy, here’s a sign: Wealthy individuals and companies are starting to snap up used private jets before they get too expensive. Take Steven Myers. A private equity financier and a licensed pilot, Meyers had been patiently looking to buy a jet for years. But when he began noticing a drop ...

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• 19 June

  Kraft Heinz mulls sale of Complan brand in India

  

  Bloomberg Kraft Heinz Co. is considering a sale of children’s milk drink brand Complan in India, which could fetch about $1 billion, people familiar with the matter said. Kraft Heinz is working with an adviser to gauge interest in the business, according to the people, who asked not to be identified because the matter isn’t public. The brand could attract ...

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• 19 June

  Debenhams plunges as it cuts profit forecast

  

  Bloomberg Debenhams Plc plunged as much as 20 percent after the British department-store owner, struggling to compete with online rivals, cut its profit forecast for the third time this year and reined in spending on turnaround efforts. The latest warning deepens a UK retail crisis that has claimed longtime fixtures of the country’s shopping streets such as BHS and prompted ...

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