May, 2016

• 30 May

  IMF turns its back on Europe in Greece bailout conundrum

  

    Washington / AFP The “breakthrough” deal announced last Wednesday to resume handing out bailout money to Greece sounded like old times: the International Monetary Fund working with European countries again as official lenders to Athens. In the end, however, the anti-global crisis lender again refused to support Greece’s third rescue program with its own financial contribution. The IMF said ...

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• 30 May

  Euro-area economic confidence rises as ECB stimulus kicks in

  

    Bloomberg Euro-area economic confidence rose for a second month in May as the European Central Bank prepares to present updated economic projections that could provide further clues about the impact of its stimulus programme. An index of executive and consumer sentiment increased to 104.7 from a revised 104.0 in April, the European Commission in Brussels said on Monday. That’s ...

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• 30 May

  The price of Mario Draghi’s first good news in a year: $267 billion

  

    Frankfurt / AFP Mario Draghi may have bought himself a brief respite from the threat of deflation. The cost? More than a quarter of a trillion dollars. On Thursday, the European Central Bank president should be able to deliver his first snippet of good news for a year on his mandate. Most economists in Bloomberg’s monthly survey predict the ...

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• 30 May

  French economy grows faster as investment jumps

    Bloomberg The French economy grew faster than originally estimated in the first quarter, lifted by improving corporate investment. Growth accelerated to 0.6 percent, instead of the 0.5 percent estimated on April 29, France’s statistics office Insee said on Monday. That compares with a 0.4 percent increase in gross domestic product in the previous quarter. The economy expanded 1.4 percent ...

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• 30 May

  Noble Group’s CEO quits as more assets put up for sale

  

    Bloomberg Noble Group Ltd. said Yusuf Alireza resigned as chief executive officer and announced a plan to sell a business that less than a month ago Alireza himself described as a core asset the trading company wanted to keep. Alireza, 45, decided “the time was right” to leave after shifting the trader toward an asset-light model, selling its agriculture ...

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• 30 May

  Fed fusillade sends gold to $100 loss this month

  

    Bloomberg Gold’s on the ropes. Bullion broke below $1,200 an ounce on Monday after losing more than $100 in less than a month as Federal Reserve policy makers land punch after punch by talking up the prospects for a U.S. interest rate rise and reinvigorating the dollar. Bullion for immediate delivery lost as much as 1 percent to $1,199.80 ...

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• 30 May

  BTG Pactual to seek sale of stake in Petrobras Africa venture

  

    Bloomberg Grupo BTG Pactual, the Brazilian bank that was forced to sell assets after the arrest of its founder last year, is exploring the sale of its 50 percent stake in an African joint venture with state-run oil company Petroleo Brasileiro SA, according to people with knowledge of the matter. BTG has held sales talks with independent oil explorers ...

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• 30 May

  Miners to strike at Colombia’s Cerro Matoso nickel mine

  

    Bloomberg Workers at South32 Ltd.’s Cerro Matoso, the world’s second-biggest ferro-nickel mine, voted to take strike action amid a dispute over negotiations on a wage agreement. Members of the Sintracerromatoso union approved the move at the operation in northern Colombia, the union’s negotiator Eder Blanco confirmed in a text message. A strike must begin before June 14, and a ...

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• 30 May

  Bonds fall with emerging mkts as Dollar gets lift from Yellen

  

  BLOOMBERG The Fed factor dominated global markets, battering bonds and developing-nation currencies while lifting the dollar. Treasury 10-year futures slid the most in almost two weeks and German bunds declined after Federal Reserve Chair Janet Yellen said an interest-rate increase is likely in coming months. Emerging-market currencies headed toward the worst month since August and gold fell for a ninth ...

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• 30 May

  Every stock was a buy to this analyst team, then shares tanked

  

    Bloomberg Companies probably love getting attention from analysts at Emperor Securities Ltd. in Hong Kong. Investors who followed their advice for the past year, not so much. The unit of Emperor Capital Group Ltd. issued buy recommendations on every one of the 173 companies it reported covering from April 2015 through May 16. Its target prices, which the company ...

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