July, 2016

• 21 July

  India should become world’s first cashless country

  

    “Black money” — the colloquial name for a vast network of off-the-book cash transactions and unbanked savings — is one of India’s biggest scourges. Amounting to as much as $460 billion a year, bigger than the GDP of Argentina, all that money lies beyond the reach of the tax authorities, creditors and anti-corruption investigators. Efforts to bring it into ...

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• 21 July

  US stocks fluctuate amid earnings as ECB sends bonds lower

  

    Bloomberg Earnings continued to set the tone on global equity markets, as equities from Europe to the U.S. fluctuated with investors looking for evidence that economic growth is bolstering profits. Government bonds retreated after the European Central Bank signaled stimulus expansion was on hold. The S&P 500 Index swung between gains and losses after closing at its sixth record ...

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• 21 July

  Gulf falls on oil and earnings, Egypt hit by FX worries

  Bloomberg Most Gulf stock markets fell on Thursday amid soft oil prices and mixed corporate earnings, while Egypt was hit once again by concern about instability in the country’s currency. Dubai’s index edged down 0.1 percent. Dubai Parks & Resorts surged 3.8 percent but real estate stocks were weak, with Deyaar Development dropping 1.1 percent after reporting a 17.8 percent ...

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• 21 July

  Swatch H1 profit dips to lowest in seven years

  

    Bloomberg Swatch Group AG, the maker of Omega and Tissot timepieces, reported its lowest first-half profit in seven years as demand cratered in Hong Kong, France and Switzerland. First-half operating profit declined 54 percent to 353 million francs ($359 million), the Biel, Switzerland-based company said in a statement on Thursday. The company said last week that earnings at that ...

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• 21 July

  EasyJet revenue slides as Brexit depresses fares

  

    Bloomberg EasyJet Plc reported lower quarterly revenue and said volatility would affect the key summer travel season as the British low-cost carrier faces headwinds including a string of terrorist attacks across its main markets and Britain’s decision to exit the European Union. Sales in the fiscal third quarter ended June 30 fell 2.6 percent to 1.2 billion pounds ($1.58 ...

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• 21 July

  Credit card deals to boost American Airlines

  

    Bloomberg American Airlines Group Inc. expects new credit-card deals with Citigroup Inc. and Barclays Plc to boost its pretax income by about $1.55 billion over the next two-and-a-half years. The accords will generate $200 million before taxes in the second half of this year, $550 million in 2017 and $800 million in 2018, the carrier said in a US ...

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• 21 July

  UK retail sees biggest fall in 6 months

  

    Bloomberg UK retail sales had their biggest drop in six months in June, adding to signs that the vote to leave the European Union is starting to bite. The volume of goods sold in stores and online dropped 0.9 percent, more than the 0.6 percent decline seen in a Bloomberg survey of economists, figures from the Office for National ...

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• 21 July

  Macy’s tests artificial intelligence tool to improve service

    New York / AP Macy’s is testing a mobile tool using artificial intelligence that lets shoppers get answers about the store they’re in — like where a particular brand is located or what’s in stock — that they would normally ask a sales associate face-to-face. The tool, which the nation’s largest department store chain calls a “mobile companion,” can be ...

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• 21 July

  Flipkart brings online shopping wave to Indian market

  

    Bloomberg India isn’t an easy place to build an e-commerce company. The vast, multilingual nation suffers from creaky infrastructure, a sometimes myopic bureaucracy and an ingrained distrust of the merchant class. Yet homegrown Flipkart Ltd. has managed the impossible with a blend of Silicon Valley smarts — its founders worked for Amazon.com Inc.; key hires were lured from the ...

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• 21 July

  Turkey’s ‘clean’ pollutants

  

    Bloomberg Geothermal wells usually provide a steady supply of clean energy flowing from the natural heat of the Earth. In Turkey, because of a quirk in the geology, some of those wells pollute as much as coal-fired power plants. The nation has a layer of subterranean limestone, which lets loose carbon dioxide when it comes in contact with steam ...

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