June, 2016

• 29 June

  Brazilian bank chief says no rate cut in sight as inflation target elusive

  

    Bloomberg Brazil’s new central bank chief Ilan Goldfajn suggested it’s too early to think about cutting rates as inflation remains above target and the government has yet to implement budget cuts. Short-dated swap rates rose. Consumer prices will increase 4.7 percent next year, still above the target set by the government, the central bank said in its quarterly inflation ...

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• 29 June

  Income polarization in US takes toll on consumption: IMF

  

    Bloomberg The widening rich-poor divide in America has robbed the economy of a year’s worth of consumption, according to the International Monetary Fund. Middle-class households declined as a share of the population between 1970 and 2014, while the proportion in high- and low-income brackets expanded, according to new research by IMF economists Ali Alichi, Kory Kantenga and Juan Sole. ...

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• 29 June

  The hinge of the Great War

  

    “See that little stream? We could walk to it in two minutes. It took the British a month to walk to it — a whole empire walking very slowly, dying in front and pushing forward behind.” —F. Scott Fitzgerald, “Tender Is The Night” WASHINGTON The walk began at 7:30 a.m., July 1, 1916, when British infantry advanced towards German ...

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• 29 June

  Forget supercomputers, a new rivalry matters more

    Adam Minter A new list of the world’s 500 fastest supercomputers suggests that China might be speeding past the U.S. in the race for technological supremacy. China now holds the two top spots, and placed a total of 167 machines on the list. The U.S. had only 165 on the list, with its fastest placing a very distant third. ...

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• 29 June

  Why is immigration a non-issue in Australia’s election?

  

    Grant Wyeth SPECIAL TO EMIRATES BUSINESS As it seems that Brexit was primarily driven by an anti-immigration sentiment, and the rise of Donald Trump in the United States is fueled by similar concerns, it could be reasonable to suspect that these countries’ southern cousin Australia may succumb to similar forces within its current election campaign. However, thankfully, this is ...

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• 29 June

  Turkey aviation stocks drop after airport attacks kill 36

  

    Singapore / bloomberg Turkey’s aviation stocks fell after coordinated terror attacks at one of Europe’s busiest airports threatened to deal another blow to the nation’s struggling tourism industry. Turkish Airlines and airport operator TAV Havalimanlari Holding AS were the biggest drag on the Borsa Istanbul 100 Index after three suicide bombers killed at least 40 people and wounded more ...

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• 29 June

  Bombardier seals US$3.8bn Air Canada order of C Series Jets

  

    Tokyo / Bloomberg Air Canada firmed up an order for at least 45 Bombardier Inc. C Series jets, giving the much-delayed aircraft programme a boost as the plane nears its commercial debut. The sale of CS300 narrow-body jetliners is valued at $3.8 billion based on list prices, Bombardier said in a statement. Air Canada also has options for 30 ...

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• 29 June

  Airbnb seeks $30bn valuation with new fundraising round

  

    New York / AFP Airbnb is in talks to secure a new round of investment that would value the company at around $30 billion, the New York Times reported on Wednesday. If it succeeds in securing the new funds, the short-term home rental company will have tripled its valuation in two years, the Times said citing anonymous sources. The daily ...

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• 29 June

  Nike slips as sales disappoint

  

    New York / AFP Sports equipment giant Nike’s shares have skidded in disappointment over its sales performance in the face of strong emerging competitors in North America. Nike, sponsor of leading world sports names including Real Madrid striker Cristiano Ronaldo, revealed a rise in quarterly sales — but it was not as large as investors had anticipated. “A lot ...

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• 29 June

  United reaches breakthrough as flight attendants back pact

  

    Washington / Bloomberg United Continental Holdings Inc. reached a breakthrough in its negotiations with labour unions after a group backed a tentative deal to bring 25,000 flight attendants under a single labour contract for the first time since the merger that created the airline almost six years ago. “We have a tentative agreement,” the joint master executive council of ...

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