July, 2017

• 16 July

  RBI bond intervention no scare for market obsessed with rate cut

  

  Traders in India are so convinced that slowing inflation will lead to a rate cut that the central bank’s increasing intervention in the bond market isn’t bothering them. Benchmark 10-year yields, which fell to a two-week low on Wednesday, will probably continue their decline after data showed consumer-price gains slowed to a record low, according to Kotak Mahindra Asset Management ...

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• 16 July

  Yellen leaves markets with wrong impression

  

  Federal Reserve Chair Janet Yellen’s prepared testimony for her semi-annual report to Congress made clear that central bankers are struggling to understand the recent downward trend in inflation. Still, it is important to remember that the path of monetary policy depends not just on inflation, but also on unemployment. Yellen knows this, and it would be a mistake to interpret ...

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• 16 July

  Brazilian justice has a long way to go

  The conviction of former President Luiz Inacio Lula da Silva on corruption charges shows how far justice has come in Brazil. Yet Brazil’s next and stiffer test is in ensuring that allegations about current President Michel Temer receive a full and transparent investigation, and that the execution of justice is not reduced to back-room politics. Brazil’s future — the future ...

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• 16 July

  Rooftop solar is no match for crony capitalism

  

  The New York Times ran an article over the weekend about efforts by utility companies to fight the spread of rooftop-solar power: Rooftop solar panel growth has come to a shuddering stop this year, with a projected decline in new installations of 2 percent. Since 2013, Hawaii, Nevada, Arizona, Maine and Indiana have decided to phase out programs that spurred ...

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• 16 July

  What should we do about Uber? UK has a few ideas

  

  It’s easy to poke fun at Britain’s government dysfunction. But there’s at least one policy area where it’s having a sophisticated debate with global implications: how to regulate ‘gig economy’ companies such as Uber Technologies Inc. and Deliveroo so they don’t exploit workers or skimp on taxes. Working out new rules for companies that use smartphones to connect buyers and ...

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• 16 July

  Amazon Prime Day doesn’t matter. Ask the company

  

  I am giving you permission: You can safely ignore Amazon’s Prime Day, the annual fake shopping holiday Jeff Bezos invented two years ago. True to form, Amazon released a crush of mostly useless statistics about the “success” of its invented holiday. Prime Day 2017 was the “biggest global shopping event in Amazon history”. Prime Day couldn’t even be contained by ...

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• 16 July

  Region mixed; Dubai tests chart barrier

  

  Bloomberg Stock markets in the Gulf were mixed on Sunday with the global uptrend in equities pushing Dubai’s index up to test technical resistance but weak corporate earnings hurting Oman. The Dubai index gained 1.0 percent in modest trading volume to close on its April peak of 3,573 points. Eight of the 10 most heavily traded stocks rose, with the ...

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• 16 July

  Xi backs stronger risk-reduction role for China central bank

  

  Bloomberg Chinese President Xi Jinping said the central bank will play a stronger role in defending against risks, calling for more work on safeguarding the financial system and modernizing its regulatory framework. China will set up a Financial Stability Development Committee under the State Council, Xi said at a twice-a-decade National Financial Work Conference held July 14-15, state media reported ...

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• 16 July

  Wells Fargo issues fewer customer stats after fake account scam

  

  Bloomberg Wells Fargo & Co. is no longer releasing the customer account figures it started disclosing after a scandal in September erupted over employees creating fake accounts to reach sales goals. Wells Fargo had been reporting 19 measures of client activity monthly, including the number of retail bank customers opening and closing checking accounts or applying for credit cards. Just ...

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• 16 July

  Santander buys stakes in three startups

  

  Bloomberg Banco Santander SA, Spain’s biggest lender, bought minority stakes in three financial-technology firms as Chairman Ana Botin makes machine learning a hallmark of her growth plan. Santander InnoVentures is investing in Pixoneye and Curve, both based in the U.K., and Gridspace, located in the U.S., according to a statement. Terms weren’t disclosed. The acquisitions bring the number of fintech ...

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