July, 2017

• 5 July

  Tech shares lead Asia stocks higher

  Bloomberg Asian equities gained even as concerns over potential international fall out from North Korea’s nuclear weapons program faded. The MSCI AC Asia Pacific Index rose 0.2 percent to 153.97 as of 4:30 p.m. in Hong Kong, reversing an earlier drop of the same magnitude. Technology stocks were among the biggest boosts to the gauge after being beaten down on ...

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• 5 July

  ANZ narrows bidders in $3bn sale of wealth business

  

  Bloomberg Australia & New Zealand Banking Group Ltd. has narrowed the list of bidders for its wealth unit, which could fetch more than A$4 billion ($3 billion), people with knowledge of the matter said. The Melbourne-based bank has invited AIA Group Ltd., MetLife Inc. and Zurich Insurance Group AG to make second-round offers for the business by Sept. 15, according ...

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• 5 July

  Monte Paschi to reduce 5,500 jobs, assets in rescue plan

  

  Bloomberg Italian lender Banca Monte dei Paschi di Siena SpA laid out a five-year restructuring plan that includes cutting thousands of jobs and selling assets as part of an agreement with the European Union that lets the bank receive 5.4 billion euros ($6.1 billion) in state aid. The lender plans to reduce headcount by 5,500, close 600 branches and dispose ...

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• 5 July

  Chinese banks’ short-term debt to fall for first time in Q3

  

  Bloomberg China’s banks are weaning themselves off short-term debt — with a little help from the authorities. The amount of negotiable certificates of deposit outstanding is likely to drop by the end of this quarter, according to 15 of 26 traders and analysts polled by Bloomberg last month. That would be the first quarterly decline since the instruments were introduced ...

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• 5 July

  UBS overhauls its European wealth business

  Bloomberg UBS Group AG is consolidating its wealth management business in Europe and emerging markets to streamline operations, expanding the role of top executives in much of the region. Cross-border operations will be combined with domestic businesses in a set-up that will reduce the number of offshore booking centers from about 10 to three — Switzerland, Germany, and the UK. ...

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• 5 July

  BOE’s Saunders warns of 1st UK rate hike in a decade

  

  Bloomberg Ten years since the Bank of England (BOE) last raised interest rates, policy makers are warning Britons to prepare for the next one. “Our foot is pretty much on the floor with the accelerator,” Michael Saunders, a member of the rate-setting Monetary Policy Committee, told The Guardian in an interview published late on Tuesday. “Households should prepare for interest ...

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• 5 July

  Italian banks hit reset as taxpayer billions bail out lenders

  

  Bloomberg Italians may be about to experience something they haven’t felt in some time: confidence in their country’s financial system. European Union officials capped years of turmoil in Italy’s banking industry by approving a plan to salvage Banca Monte dei Paschi di Siena SpA, a onetime pillar of the financial establishment brought to the edge of ruin by bad loans ...

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• 5 July

  US lifts electronics ban on Emirates US-bound flights

  

  Bloomberg / WAM Emirates, the world’s biggest long-haul airline, said measures barring laptops from the cabins of aircraft departing its Dubai base for the US have been lifted. The moratorium, imposed in March, was removed on Wednesday following work with local authorities and regulators on implementing the ‘heightened security measures and protocols’ required by the US Department of Homeland Security ...

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• 5 July

  Gulf Air boosts security, customer service

  

  Dubai / Emirates Business Gulf Air on Wednesday revealed a cybersecurity step-change as part of an ongoing campaign to safeguard its operations and deliver industry-leading customer service. Gulf Air, the national carrier of the Kingdom of Bahrain, has reinforced its network perimeter to pre-empt and combat Distributed Denial-of-Service (DDoS) attacks, improve data centre and application-level security and further enhance data ...

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• 5 July

  Embraer faces tougher US market if JetBlue drops E190 jet

  

  Bloomberg Embraer SA’s E190 aircraft is flown by airlines around the world, but has struggled to find much of a home in North America. Now the largest U.S. operator of the plane may walk away, casting doubts on whether the next version of the jet can succeed in the market. JetBlue Airways Corp. plans to decide by the end of ...

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