June, 2018

• 6 June

  Trade hopes sustain risk-on mood; ECB sinks bonds

  

  Bloomberg Trade hopes and the end of easy money were the twin themes in trading on Wednesday, with stocks extending gains and bonds falling as this week’s risk-on mood endured. US equity futures climbed following advances across Asia on signs that major economies will step back from the brink of a trade war. More than half of companies in the ...

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• 6 June

  Oil near $65 as OPEC fears weigh against US stockpile drop

  

  Bloomberg Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles countered fears about a potential OPEC supply boost. Futures in New York fell 0.7 percent, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories declined by over 2 million barrels last week. Meanwhile, ...

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• 6 June

  India joins emerging markets in pulling interest rate trigger

  

  Bloomberg India’s central bank raised its benchmark interest rate for the first time since 2014 to curb rising price pressures and calm financial markets as policy tightening in the US rattles emerging markets. All six members of the Monetary Policy Committee voted to increase the repurchase rate to 6.25 percent from 6 percent, the Reserve Bank of India said in ...

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• 6 June

  Credit Suisse to pay $47mn to resolve US probe on Asia hiring

  

  Bloomberg Credit Suisse Group AG agreed to pay a $47 million penalty to the US Department of Justice to end a probe into whether it hired employees in Asia in exchange for government contracts and other favors. Credit Suisse’s Hong Kong unit reached a non-prosecution agreement with the DOJ regarding its recruitment practices in Asia between 2007 and 2013, according ...

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• 6 June

  Circle seeks to become licensed bank, trading venue

  

  Bloomberg Circle Internet Financial Ltd., one of the world’s most valuable cryptocurrency platforms, is looking to make a big leap into the highly regulated realm of US banks and brokerages. The venture, partly backed by Goldman Sachs Group Inc., plans to seek a federal banking license to provide more services to customers. It also intends to pursue registration as a ...

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• 6 June

  ECB’s Praet confirms June meeting pivotal for bond-buying program

  

  Bloomberg European Central Bank Chief Economist Peter Praet confirmed that next week’s policy meeting will be pivotal for reaching a decision on when to end the institution’s bond-buying program. His comments reinforce the view that the ECB is close to settling the question of how long it will keep buying debt to support the euro-area economy. Bloomberg reported that policy ...

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• 6 June

  Inflation lull keeps Polish rates shackled as region diverges

  Bloomberg Polish rate setters kept borrowing costs unchanged, sticking to a wait-and-see policy that may last into the next decade as the central bank diverges from other countries in the region already tightening monetary policy. Below-forecast inflation and higher-than-estimated economic growth have given the Monetary Policy Council all it needs to stick with Governor Adam Glapinski’s stance that rates may ...

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• 6 June

  Emirates wants to give more legroom for those flying coach

  

  Bloomberg Emirates aircraft are synonymous with luxury, offering premium-class passengers shower on board while cruising at 30,000 feet. Now the carrier wants to give some legroom for those flying coach. The world’s biggest long-haul airline outlined details of a new premium economy seat that it plans to help stem “leakage” of passengers who can’t afford business, but want a more ...

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• 6 June

  South African Air touts spare crew as it shrinks network

  

  Bloomberg South African Airways is offering surplus pilots and cabin crew to major global carriers as part of a bid to cut costs and secure alliances in its three-year turnaround plan. SAA, as the unprofitable state-owned company is known, needs fewer staff of its own as it scraps under-performing routes, and views the experienced personnel as a path to discussions ...

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• 6 June

  Honeywell aims to make flying safer in India

  

  Bloomberg With more than 100 languages and the ambition to connect even its smallest villages by air, India has become a testing ground for a new software being developed by Honeywell International Inc. that aims to make it easier to understand pilots speaking English with strong local accents. The conglomerate is, at the behest of the government, developing software that ...

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