June, 2018

• 20 June

  Norway firming up plans for first interest rate hike in 7 years

  

  Bloomberg Norway’s central bank is seen firming up plans to lift interest rates “after summer” as the richest Scandinavians leave their oil shock behind them. As Norway moves from a recovery to an outright expansion, policy makers in Oslo are becoming less focussed on the krone and are preparing to tighten ahead of colleagues in Frankfurt and Stockholm. “Norges Bank ...

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• 20 June

  PBOC to use tools ‘comprehensively’ as trade war with US sparks sell-off

  

  Bloomberg China’s central bank called for investors to remain calm and pledged to use monetary policy “comprehensively,” after an escalation of the stand-off with US sent the nation’s benchmark stock index plunging. The People’s Bank of China Governor, Yi Gang, said in an interview with the Shanghai Securities News published on the central bank’s website that policy makers are prepared ...

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• 20 June

  Bank of England could target UK productivity goal

  Bloomberg The Bank of England’s remit should be overhauled to include a 3 percent target for productivity growth, according to a report commissioned by the UK’s opposition Labour Party. The central bank should also have its toolkit expanded to include credit guidance and greater use of macro-prudential policy, said the study, led by GFC Economics’ Graham Turner. The proposals, for ...

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• 20 June

  Morocco central bank holds rates, citing inflation prospects

  

  Bloomberg Morocco’s central bank kept its benchmark interest rate unchanged despite rising inflation that’s prompted a damaging product boycott. The central bank kept the key rate at 2.25 percent, citing medium-term inflation and growth prospects. Last month the general affairs minister said the economy could withstand annual price growth of as much as 3 percent, above the 2.7 percent reached ...

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• 20 June

  StanChart sees bigger revenues from Africa

  Bloomberg Standard Chartered Plc expects Africa to account for a bigger slice of revenue if the region is able to put in place policies that will further spur economic growth, Chairman Jose Vinals said. “If they do the right thing, they’ll grow faster than other countries which are more advanced,” he said in an interview in Lagos, Nigeria’s commercial capital. ...

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• 20 June

  Taiwan poised to keep benchmark interest rate unchanged

  

  Bloomberg Taiwan’s central bank will keep its benchmark interest rate unchanged on Thursday as a brewing trade war adds to risks facing the export-oriented economy, according to a Bloomberg survey. A majority of 33 economists said Taiwan will hold the discount rate for banks at an eight-year low of 1.375 percent, while only three predicted an increase of 12.5 basis ...

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• 20 June

  Boeing lands $6.6bn FedEx deal as freight demand grows

  

  Bloomberg Boeing Co. landed a deal for 24 cargo aircraft from FedEx Corp. worth $6.6 billion as the revival in the air freight market continues to grow. The package-hauler plans to add 12 of Boeing’s medium-size 767 freighters and 12 of the larger 777 cargo aircraft to its order book, the Chicago-based planemaker said in a statement. FedEx is already ...

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• 20 June

  India calls off flag carrier sale after failed attempt

  

  Bloomberg India has decided not to immediately revive a plan to sell its money-losing flag carrier Air India after a failed attempt to find a buyer for the state asset, people familiar with the matter said. Prime Minister Narendra Modi’s administration has virtually abandoned the planned sale of Air India Ltd. after it failed to attract any bidder in a ...

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• 20 June

  Tesco takes aim at rival Sainsbury with price cuts

  

  Bloomberg Tesco Plc racked up its 10th consecutive quarter of growth and cut prices in a pre-emptive strike against rivals preparing to challenge its role as the UK’s largest retailer. The supermarket operator has lowered prices on its own-brand meat, fruit and vegetables, countering reductions promised by J Sainsbury Plc as part of its planned acquisition of Walmart Inc.’s Asda ...

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• 20 June

  American Air to cut management jobs as merger work winds down

  

  Bloomberg American Airlines Group Inc. will cull its management ranks as it sets a course to complete five years of work merging with US Airways. “While not all integration work is complete, much of it is and as a result, now is the right time to look at the organisational structure we need for the future,” American Chief Executive Doug ...

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