September, 2017

• 26 September

  How Portugal can make its economic comeback last

  If there’s a symbol of the breadth of the euro zone’s recovery, it’s Portugal. In 2011, it had to accept an international bailout on punishing terms. Today, three years after graduating from that program, growth and confidence have returned. As if to mark the achievement, S&P Global Ratings just raised Portugal’s sovereign rating to investment grade. This success is real—but ...

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• 26 September

  China could seize a chunk of the skies for itself

  

  Last week, the Commercial Aviation Corp. of China Ltd. (Comac) announced that the C919, China’s first homemade large passenger jet, had chalked up its 730th pre-order. Those numbers won’t necessarily make the Boeing Co. or Airbus SE quake; Boeing estimates Chinese airlines alone will require 5,420 new single-aisle planes by 2036. Ultimately, though, they could herald the end of global ...

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• 26 September

  Republicans’ toxic fight for states’ rights

  

  As Congress factors in Senator John McCain’s refusal to back, for now, the latest scrupulously unvetted legislation to scramble the American health-care system, the gamey smell of states’ rights still lingers in the air. “Instead of a Washington-knows-best approach like Obamacare, our legislation empowers those closest to the health-care needs of their communities to provide solutions,” said Republican Senator Lindsey ...

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• 26 September

  Merkel’s lacklustre win is good for Germany

  

  The sour faces of German Chancellor Angela Merkel’s allies after the first exit poll results for the federal election were announced on Sunday night will prompt much talk of a Pyrrhic victory for Merkel. But the outcome of Sunday’s election could be good both for her and for German democracy: It has clarified the options for the next governing coalition, ...

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• 26 September

  Oil slips after entering bull market on Kurdish export row

  

  Bloomberg Oil prices slipped after entering a bull market amid heightened geopolitical tensions in the Middle East, while Trafigura Group and Citigroup Inc. both warned of a looming supply squeeze. Crude in New York fell 0.7 percent as traders cashed in after yesterday’s 3.1 percent surge. The oil market is nearing the end of the “lower-for-longer” era, with a shortage ...

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• 26 September

  US stocks higher as tech shares reverse decline

  

  Bloomberg US stocks were higher on Tuesday with technology shares shaking off Monday’s slide. The euro extended its decline in the wake of the German election, lending support to a dollar rally as investors digest a raft of catalysts from North Korea to central-bank policy. The Nasdaq 100 Index climbed at the open, taking back some of Monday’s 1.1 percent ...

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• 26 September

  World’s biggest wealth fund faces tighter reins at $1 trillion

  

  Bloomberg After hitting the $1 trillion milestone this month, the Norwegian wealth fund can expect even more scrutiny going forward. The government is currently looking at a proposal from a committee led by a former central bank governor to separate out the fund from Norges Bank. This idea is now being seized on as a means to tighten oversight, with ...

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• 26 September

  Euro hits one-month low

  Bloomberg The euro dropped toward $1.1800 as investors continued to unwind long positions, with fresh tactical selling pressure setting in ahead of a speech by the Federal Reserve Chair Janet Yellen later on Tuesday. What started off as a knee-jerk reaction after the German election now appears to have become a broader hit on euro bulls’ conviction. Concern that European ...

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• 26 September

  ECB to start stress tests at Greek banks

  

  Bloomberg The Bank of Greece plans to start stress tests for the country’s four systemic banks in late February with a view to determine by June if they need fresh capital before the end of the Greek bailout program. ECB President Mario Draghi said Single Supervisory Mechanism may front-load stress tests for Greek banks. Banks have been asked to send ...

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• 26 September

  Saudi central bank plans to cut mortgage costs

  

  DUBAI / Reuters Saudi Arabia’s central bank has scrapped administrative fees for mortgage holders if they switch between fixed and floating rate loans, as part of new measures to boost the housing market. The Saudi Arabian Monetary Authority also announced, via its twitter account, other measures to help reduce mortgage costs, including allowing a mortgage holder to move to a ...

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