May, 2018

• 20 May

  Gold bulls push for exits on strong greenback, lack of fear

  

  Bloomberg The strong dollar is proving too much of a headwind for gold. Hedge funds and other large speculators pared bullish bets on bullion to the lowest in more than two years as the metal fell below $1,300 an ounce for the first time this year, spurring the biggest weekly price decline since December. Money managers headed for the exits ...

  Read More »
• 20 May

  Singapore’s Apex exchange to start trading from May 25

  

  Bloomberg Chinese-backed Asia Pacific Exchange Pte (Apex) said it will start trading in Singapore from May 25, the latest foray into overseas trading venues by mainland investors. Apex will offer palm olein futures that will be dollar-denominated and physically delivered, it said in a statement. The bourse will be the third derivatives exchange in the city-state, joining venues owned by ...

  Read More »
• 20 May

  Fed resists adding capital demand for biggest banks

  

  Bloomberg The Federal Reserve is facing calls within its ranks to consider activating an obscure capital buffer meant to bolster big banks against coming storms when economic conditions are sunny. But for now, those pushing to weigh the demand for billions of dollars in new capital haven’t persuaded the key agency staffers who are reviewing the decision, according to people ...

  Read More »
• 20 May

  Robot Nora at Nordea wealth unit has big plans

  

  Bloomberg Clients looking for investment advice at the biggest Nordic bank have recently been introduced to a robot. Nora, the robo-adviser that Nordea Bank AB launched last month, has already been asked to start investment processes equivalent to 4 percent of the roughly 500,000 people who get savings advice from the bank each year. Nordea wants to use Nora to ...

  Read More »
• 20 May

  Weidmann signals openness to succeeding Draghi

  

  Bloomberg Jens Weidmann signalled he’s open to succeeding Mario Draghi as president of the European Central Bank, the Bundesbank chief’s strongest hint so far that he wants the job. “I believe that every member of the Governing Council should have the willingness to contribute to monetary policy also in a different role,” the German told Funke Mediengruppe in an interview. ...

  Read More »
• 20 May

  Goldman CEO Blankfein likely to step down in Dec

  

  Bloomberg Lloyd Blankfein will probably step down as Goldman Sachs Group Inc.’s chief executive officer in December, the New York Times reported, citing people familiar with the firm’s plans. David M. Solomon, who was named president in March, will take the top spot, the newspaper said. While Blankfein is likely to depart around the time of the bank’s annual dinner ...

  Read More »
• 20 May

  Investors’ unconditional love for emerging markets is fading

  

  Bloomberg Investors are punishing markets where policy makers haven’t done enough to stem deteriorating current-account balances, ballooning inflation and a run on their currencies. They became unforgiving as rising Treasury yields and a stronger dollar put the case for riskier investments in the balance. Money is no longer cheap or plentiful, and low-quality investments burdened by policy baggage are being ...

  Read More »
• 20 May

  Aeromexico follows United in scaling back on crowded routes

  

  Bloomberg Grupo Aeromexico SAB, Mexico’s largest airline, is trimming its expansion plans as a seating glut drags down fares. Capacity will expand 7 percent the rest of this year, said Chief Executive Officer Andres Conesa. That’s down from a previous forecast of about 9 percent, he said, citing the need for increased discipline as rising fuel prices add to earnings ...

  Read More »
• 20 May

  India’s Jet Airways taps diaspora with new route

  

  Bloomberg Jet Airways India Ltd. will offer the first ever direct flights from Mumbai to northern England with services to Manchester starting in November. The carrier will initially connect the cities four times a week using 254-seat Airbus SE A330-200s, with a daily service planned with the start of next year’s summer schedule in March, it said. Jet currently serves ...

  Read More »
• 20 May

  South African seeks urgent funding after latest loss

  

  Bloomberg South African Airways said executives will meet National Treasury officials every two weeks to address urgent funding needs after the embattled national airline reported a seventh consecutive year of losses — and the worst since 2015. The carrier’s precarious balance sheet is among the most urgent tasks on the to-do list of Finance Minister Nhlanhla Nene, who is already ...

  Read More »