February, 2017

• 23 February

  PSA Group chief lays out vision for ‘European Champion’ with Opel deal

  

    Bloomberg PSA Group laid out its vision for integrating General Motors Co.’s struggling European operations, including slashing costs, combining development efforts and exploiting the appeal of German engineering. Chief Executive Officer Carlos Tavares vowed to revive GM’s Opel unit by carrying out a similar restructuring that brought the maker of Peugeot and Citroen cars back from the brink over ...

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• 23 February

  Euro bears return as France vote comes into focus again

    Bloomberg The euro is slipping again, after Wednesday’s modest bounce proved too weak to last. Concerns about European political risks that were recently focused on the second round of France elections are now broadening to include the first round and even next month’s Dutch vote. Investors lightened short-euro positions in the spot market Wednesday as the Bloomberg Euro Index ...

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• 23 February

  Qantas profit declines less than expected amid competition

  

    Bloomberg Qantas Airways Ltd.’s first-half earnings dropped less than the company’s forecast amid a recovery in the domestic market, while competition on international routes weighed on air fares. Shares jumped the most in almost eight months. Chief Executive Officer Alan Joyce, who is in the final six months of a three-year turnaround plan, said confidence is returning in the ...

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• 23 February

  Trump-Iran tensions halt Indian carrier’s Tehran flight plans

  

    Bloomberg Air India Express, the low-cost unit of the South Asian nation’s flag carrier, has put on hold a plan to fly to Tehran amid renewed tensions between the U.S. and Iran after President Donald Trump imposed fresh sanctions on the Gulf country. Since some of Air India Ltd.’s plane purchases were funded by the Export-Import Bank of the ...

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• 23 February

  UK urged to do more to tackle impact of Heathrow expansion

  

    Bloomberg The UK government is failing to show how it intends to tackle the potential environmental damage of building a third runway at London’s Heathrow Airport, according to a cross-party panel of lawmakers. Ministers are relying too much on people switching to cleaner cars to reduce particulate air pollution and have given no guarantees on air-quality targets after the ...

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• 23 February

  Macy’s tops earnings estimates as company shrinks footprint

  

    Bloomberg Macy’s Inc. posted fourth-quarter earnings that beat analysts’ estimates as the company closes stores and cuts costs in a bid to cope with an industrywide slump. Profit was $2.02 a share, excluding some items, the Cincinnati-based company said. Analysts projected $1.96 on average. While same-store sales declined 2.1 percent, that was better than the 2.2 percent drop predicted ...

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• 23 February

  Boeing fighter jet gets new life from Trump tweets

  

    Bloomberg Boeing Co.’s Super Hornet is poised for a surprising comeback thanks to President Donald Trump’s Twitter broadsides and a strike-fighter shortage caused by delays to Lockheed Martin Corp.’s F-35 program. Until recently, Boeing’s combat jet was on life support, with work at its St. Louis factory slowing to a crawl as orders dwindled. But that was before Congress ...

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• 23 February

  Credit Suisse allocates $600mn for Saudi expansion

  

    Bloomberg Credit Suisse Group AG, the Swiss lender seeking a banking license in Saudi Arabia, allocated about $600 million of its own capital to expand its business in the kingdom, according to people familiar with the matter. The Zurich-based bank, which has a securities and equities business in the country, plans to use the capital to, among other things, ...

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• 23 February

  Kenyan banks press govt on rate caps as lending slows

  

    Bloomberg Kenyan banks are in talks with the government about changing a law that caps commercial interest rates as lending in East Africa’s biggest economy slows, Barclays Bank of Kenya Ltd. Chief Executive Officer Jeremy Awori said. “Those dialogues are underway between the Kenya Bankers Association and members of parliament around what would work,” Awori said Wednesday in an ...

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• 23 February

  Barclays’s CEO gets US$1.6 million bonus

  

    Bloomberg Barclays Plc Chief Executive Officer Jes Staley received a bonus of 1.3 million pounds ($1.6 million) for his first year in charge after hitting almost two-thirds of his targets, as he reshaped the bank and disposed of unwanted assets. Staley, 60, was awarded 60 percent of his maximum bonus opportunity for the year, giving him a total pay ...

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