July, 2016

• 16 July

  Avianca counters slump worries with cash-rich deal

  

    Bloomberg Avianca Brasil is pushing ahead with plans to overhaul its aircraft fleet as the closely held carrier shakes off worries over the deep Brazilian recession and looks ahead to projections of rapid growth in Latin American air travel. Synergy Aerospace Corp., the airline’s owner, agreed to buy 62 narrow-body planes from Airbus Group SE’s A320neo family, the companies ...

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• 16 July

  Top American airlines jump most since 2014

  

    Bloomberg US airlines surged by the most since late 2014 after Deutsche Bank AG recommended buying shares in the three largest carriers. American Airlines Group Inc., Delta Air Lines Inc. and United Continental Holdings Inc. will rebound as they advance “in fits and starts” toward halting a slide in passenger revenue for each seat flown a mile, a key ...

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• 16 July

  Delta Air to cut major flights to Britain

  

    New York / AFP Delta Air Lines has announced that it will cut back flights serving Britain this year in the wake of the country’s vote to pull out of the European Union. Delta said it plans to reduce capacity on service between the US and Britain by six percent this winter, citing the steep drop in the British pound ...

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• 16 July

  Staples to rebound strong from failed merger

  

    Bloomberg Staples Inc., looking to bounce back after a failed mega-merger, is bulking up its online selection and shortening delivery times to make the most of the back-to-school shopping season, which is more important for the office-supply retailer than the winter holidays. More than 1,000 products — including a wider assortment of technology products, such as headphones and tablets ...

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• 16 July

  Boeing eyes rivals as it turns ‘100’

  

    New York / AFP Boeing, creator of some of the world’s most iconic aircraft of the 20th century, commemorates its centennial this week facing multiple challenges to remain at the forefront of global aerospace innovation. At the top of the list is European archrival Airbus, which has topped Boeing in commercial orders in recent years and made inroads into the ...

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• 16 July

  Citigroup, Wells Fargo profits decline as margins squeeze

  

    Bloomberg Citigroup Inc and Wells Fargo & Co reported second-quarter profit dropped from a year earlier as persistently low interest rates continued to squeeze lending margins. Citigroup reduced its forecast for net interest margin, the difference between what a bank charges for loans and pays depositors, while Wells Fargo said the UK’s vote to leave the European Union will ...

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• 16 July

  Bank regulator flashes warning light over commercial real estate

  

    Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

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• 16 July

  Won rises to 2-month high as BOK keeps key rate at record low

  

    Bloomberg South Korea’s won rose to a two-month high after Bank of Korea Governor Lee Ju Yeol kept interest rates at a record low and said the government’s stimulus will boost growth by about 0.2 percentage point. Policy makers voted unanimously to leave the seven-day repurchase rate at 1.25 percent, as expected by all 20 economists surveyed. While South ...

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• 16 July

  JPMorgan’s Singapore investment bank head to join Temasek unit

  

    Bloomberg Fullerton Financial Holdings Pte, an arm of Singapore state investment company Temasek Holdings Pte, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter. Yeo will start ...

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• 16 July

  Currency dip triggers Russian central bank’s first loss since ’98

  

    Bloomberg Not since 1998 has Russia’s central bank booked a loss, but that may be about to change. The bottomline will suffer because the Bank of Russia is becoming a net borrower from lenders for the first time since 2011 as deficit spending by the government sends rubles cascading through the system, according to VTB Capital and Renaissance Capital. ...

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