April, 2018

• 30 April

  Virtu veteran’s new crypto market makes $1 million debut

  

  Bloomberg A new decentralised cryptocurrency market co-founded by a veteran of automated trading firm Virtu Financial Inc. handled more than $1 million of transactions. Michael Oved’s company, AirSwap, which began operations last week, probably feels like a contradiction to many on Wall Street: A market with no central place where buyers and sellers gather. Instead, bulletin boards on the company’s ...

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• 30 April

  China is bolstering lenders for new assault on shadow banking

  

  Bloomberg Investors who pushed up Chinese bank shares last week on news of lower reserve requirements may have been celebrating too soon. The subtext to the move is an effort to prepare the banks for a painful new phase in China’s campaign to reduce financial-sector risks, as regulators free up deposit rates and accelerate their crackdown on the nation’s as ...

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• 30 April

  Barclays, Deutsche Bank paths diverge as Sewing plots retreat

  

  Bloomberg Deutsche Bank AG is retreating from its Wall Street rivals. Barclays Plc still thinks it can take them on. The paths of two of Europe’s biggest investment banks are diverging after trading revenue slumped 17 percent at Deutsche Bank in the first quarter and climbed 8 percent at Barclays. The German lender outlined plans to retrench on Wall Street, ...

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• 30 April

  Cyber attacks target Mexican e-payment systems

  

  Bloomberg Cyber attackers attempted to penetrate Mexico’s electronic payment systems, forcing three banks to enact contingency plans, according to people familiar with the matter. Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system, and will be connecting to the central bank’s network under “contingency schemes,” Banco de Mexico said in a statement. That ...

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• 30 April

  Danske tops highest profit bet amid tight cost controls

  Bloomberg Danske Bank A/S earned more money in the first quarter than expected as Denmark’s biggest lender saw an increase in interest income and kept costs under control. Net income was 4.9 billion kroner ($796 million), less than a year earlier, but beating the 4.7 billion-krone estimate of analysts surveyed by Bloomberg. Net interest income was broadly in line with ...

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• 30 April

  Argentina’s extraordinary rate hike could be just the beginning

  

  Bloomberg Argentina investors say the central bank’s extraordinary effort to bolster the peso may be just the beginning, with more such actions to be expected if the currency doesn’t stabilise soon. Policy makers’ decision to raise the key interest rate 3 percentage points to 30.25 percent, a surprise move announced just days after they held borrowing costs, led the peso ...

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• 30 April

  American, Southwest cast pall on sentiment; US airlines sink

  

  Bloomberg US carriers sank after American Airlines Group Inc. trimmed its profit forecast and Southwest Airlines Co. said ticket sales had slowed after its first passenger fatality. A jump in fuel prices over the last two weeks prompted American to cut its expected earnings for this year because “it takes time to adapt,” Chief Executive Officer Doug Parker said. Southwest ...

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• 30 April

  Malaysia to double airport capacity for 2bn Asia fliers

  

  Bloomberg Malaysia Airports Holdings Bhd. plans to double Kuala Lumpur International Airport’s capacity as it seeks a bigger slice of the 2.1 billion more passengers expected in Asia Pacific in the next two decades. The company is looking to raise the capacity to 150 million, from the current 75 million, in the next 10 to 20 years, Raja Azmi Raja ...

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• 30 April

  Lotte to sell 22 Beijing stores to China’s Wumart operator

  

  Bloomberg Lotte Group’s retail unit is selling 22 of its stores in Beijing to China-based grocer and hypermarket rival Wumei Holdings Inc. for 256 billion won ($237 million), the Chosun Ilbo newspaper reported, without saying where it got the information. Lotte Shopping Co. has taken a sales hit in China over the past year after the group provided land for ...

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• 30 April

  Norwegian Air: Serious suitors after IAG move

  

  Bloomberg Norwegian Air Shuttle ASA said it has attracted interest from other potential suitors since the revelation that British Airways parent IAG SA may bid for the company. Norwegian received several inquiries after IAG disclosed that it was building a stake and might make a formal offer, it said, sending the stock 16 percent higher. Chief Executive Officer Bjorn Kjos ...

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