August, 2017

• 27 August

  Angola opposition party rejects partial poll result

  Bloomberg Angola’s main opposition party, the National Union for the Total Independence of Angola, or Unita, said that provisional results that gave the ruling party a majority of the votes in an election earlier this week weren’t valid. “The country doesn’t yet have valid electoral results,” Isaias Samakuva, the leader of Unita, said at a press conference in Viana, on ...

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• 27 August

  Low investor turnout before Eid hits bourses

  

  DUBAI / Reuters Thin news flow and upcoming Islamic holidays towards the end of the week kept many long-term equity investors away on Sunday, leaving stock markets in the Middle East vulnerable to profit- taking, but Kuwait’s index bucked the trend. “Speculators are booking capital gains while long-term investors were dormant,” said a Jeddah-based broker. Stock markets are often sparsely ...

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• 27 August

  Draghi’s drama-free Jackson Hole reaffirms slow QE exit

  

  Bloomberg Mario Draghi’s message in Jackson Hole recently may not have been dramatic as three years ago but was clear nonetheless: the European Central Bank will go extremely slow about removing its monetary stimulus. While the ECB president startled investors in 2014 by laying the groundwork for quantitative easing, his published remarks at the Federal Reserve symposium in Wyoming included ...

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• 27 August

  BOJ’s Kuroda vows to maintain monetary policy

  

  Bloomberg Bank of Japan Governor Haruhiko Kuroda said the recent pace of growth in the world’s third-largest economy is probably unsustainable and pledged to continue with very accommodative monetary policy “for some time” because the BOJ is far from inflation target. “I think 4 percent growth is excellent but we don’t think 4 percent growth can be sustained. Around 2 ...

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• 27 August

  RBC’s gains in Canadian banking bode well for domestic peers

  

  Bloomberg Royal Bank of Canada is taking care of business at home. Royal Bank, the first Canadian lender to report fiscal third-quarter results, saw a jump in profit from its domestic banking operations amid signs that the nation’s economy is accelerating. An improving outlook prompted Canada’s central bank to raise interest rates last month, and economists predict at least one ...

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• 27 August

  Motsepe to shake up South Africa banks with Tyme

  

  Bloomberg African Rainbow Capital Ltd.’s banking partner is close to getting a license that it wants to use to challenge the dominance of South Africa’s biggest lenders. The Commonwealth Bank of Australia has said it will sell 10 percent of Tyme, a Johannesburg-based lender that allows customers to access funds through their mobile phones, to billionaire Patrice Motsepe’s African Rainbow ...

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• 27 August

  Qantas hands investors more cash as profit beats estimates

  

  Bloomberg Qantas Airways Ltd. announced its fourth stock buyback in two years as the airline reported better-than-expected annual earnings, marking the end of a three-year turnaround under Chief Executive Officer Alan Joyce. The Australian carrier, reporting its second-highest profit on record, said it will repurchase as much as $295 million of stock even as the shares traded near an all-time ...

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• 27 August

  United Airlines suspends flights due to “Harvey”

  

  Bloomberg United Continental Holdings Inc. suspended its entire regional operation and all mainland flights out of Houston to non-hub airports around the country as Hurricane Harvey lashed southeast Texas, the airline said. More than 1,000 flights had been canceled and another 1,259 delayed nationwide as of 3:04 p.m. Eastern time Saturday, according to flight tracking service FlightAware. United’s cancellations, including ...

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• 27 August

  Hollister makes a comeback

  

  Bloomberg After years of being relegated to the back of the closet, Hollister has been reborn. Though the heyday of the seagull logo is long past, the teen apparel brand with the California vibe has charged back into the mix, trying to turn things around for its struggling parent, Abercrombie & Fitch Co. The bird was once a stamp of ...

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• 27 August

  Amazon.com’s slashed prices leave rivals reeling

  

  Bloomberg A price war has raged in US supermarket aisles for well over a year, bloodying retailers big and small. On Monday, Amazon.com Inc. plans to toss a smart bomb into the fray. The online giant’s move to slash prices on everything from organic baby kale to fair-trade bananas on the same day its $13.7 billion acquisition of Whole Foods ...

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