June, 2018

• 24 June

  Saving the planet? Get carbon out of the air

  

  What is the appropriate response to the threat of climate change? To some climate activists, it means we must give up on economic growth, capitalism or even industrial society itself. This extreme viewpoint, if correct, would require modern humanity to abandon much of what makes life comfortable,secure. It also causes many on the political right to suspect climate activism of ...

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• 24 June

  Goldman, Morgan Stanley say test scores may not curb payouts

  

  Bloomberg Goldman Sachs Group Inc and Morgan Stanley are imploring investors not to get spooked. The investment banks had the two lowest capital levels by one key measure in stress test results released by the Federal Reserve, threatening to limit how much cash they’ll be able to return to shareholders through dividends and stock buybacks. But both firms say they ...

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• 24 June

  JPMorgan to sell stake in Saudi bank for $203mn

  

  Bloomberg JPMorgan Chase & Co. plans to sell its stake in Saudi Investment Bank back to the Riyadh-based lender at a 24 percent discount as it exits non-core holdings globally. Saudi Investment Bank signed an agreement to buy the 7.5 percent stake, which JPMorgan held for more than 40 years, for $203 million, according to a statement on Sunday. The ...

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• 24 June

  ECB expects higher reinvestments to cushion end of bond buying programme

  

  Bloomberg The European Central Bank is expecting to plow at least 160 billion euros ($185 billion) of maturing debt back into bonds next year and could consider relaxing the rules on buying, according to euro-area officials familiar with the matter. Such prospects would reduce the risk of market volatility that could undermine the economy after the ECB completes net asset ...

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• 24 June

  China to unleash $108bn in reserves cut for banks

  

  Bloomberg China’s central bank will cut the amount of cash some lenders must hold as reserves, unlocking about 700 billion yuan ($108 billion) of liquidity, as it seeks to control leverage and support smaller companies. The required reserve ratio for some banks will drop by 0.5 percentage point, effective July 5, the People’s Bank of China said on its website. ...

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• 24 June

  BMO Harris Bank revamps digital operations in US

  

  Bloomberg Bank of Montreal is revamping its US digital operation and targeting small businesses in the Midwest to boost growth at its BMO Harris Bank lender. The new US strategy, which emphasises mobile apps to woo more retail customers, is part of the changes being introduced by Erminia “Ernie” Johannson, who relocated to Chicago from Toronto after being appointed group ...

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• 24 June

  Airbus warns UK investment in danger in no-deal Brexit

  

  Bloomberg Airbus SE threatened to pull its UK investments if Britain walks away from the European Union without a deal, upping the stakes for Prime Minister Theresa May as she fights to deliver a Brexit that won’t wreck the country’s economy. In the starkest warning yet from any major company, the aerospace giant said that a departure from the single ...

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• 24 June

  Singapore Air CEO sees risk to cargo beyond trade spat

  

  Bloomberg As the brewing trade battle between the US and China threatens to slow demand for air freight, the market is also facing pressure as demand gets in line with supply, according to the chief executive officer of Singapore Airlines Ltd. “From a business perspective, we would like to see countries around the world to work together to grow the ...

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• 24 June

  Bombardier reaches tentative labour agreement at sold factory

  

  Bloomberg Workers at a Bombardier Inc. aircraft plant that was recently sold to a pension fund have reached tentative labour agreements with the company. Unifor, the union that represents about 2,000 production and office staff at the Downsview facility in Toronto, is recommending that members ratify the deals. Details won’t be released until after workers vote on Sunday. Workers had ...

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• 24 June

  Barnes & Noble tells investors turnarounds ‘take time’

  

  Bloomberg As the largest US retail bookseller tries to enact a turnaround, some investors may be losing their patience. Barnes & Noble Inc., which saw same-store sales drop 5.4 percent in the latest year, said it’s expecting that measure to improve this year. Double-digit declines in gifts, music and movies drove also down comparable sales in the fourth quarter ended ...

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