Bloomberg Lam Research Corp. will be the first semiconductor equipment maker to report earnings and Wall Street is cautious. Lower spending from makers of memory chips due to elevated inventories has reduced estimates for equipment sales next year and a recovery isn’t likely until the second half of 2019, according to Evercore ISI analyst C.J. Muse. Makers of machinery used ...
Read More »Comparing Huawei Mate 20 Pro to Apple, Samsung flagships
Bloomberg Huawei Technologies Co. overtook Apple Inc. in August to become the second-biggest seller of smartphones globally, with just Samsung Electronics Co. left to beat. And it revealed the Mate 20 Pro—a flagship device to rival the iPhone Xs Max and Galaxy Note 9.All three devices share similarly large screens, powerful processors and sleek designs; and each represents a different ...
Read More »Brexit deadlock may make ECB reticence on risks hard to sustain
Bloomberg The European Central Bank’s prospects for gradually weaning the economy off monetary support could yet be tested by a big unknown its officials don’t mention much: a disorderly Brexit. Policy makers have given limited prominence to that risk despite divorce talks between the UK and European Union repeatedly stalling before the country’s departure in less than six months. In ...
Read More »Carney says Brexit stress tests for banks ‘severe but plausible’
Bloomberg UK banks are prepared to withstand more than just Brexit, according to Bank of England Governor Mark Carney. Stress tests conducted by the central bank show Britain’s financial system would still have more than adequate capital to maintain lending in the face of multiple headwinds, Carney said in a speech in New York. The bank has been “preparing for ...
Read More »Goldman, Novogratz invest $15mn in crypto startup BitGo
Bloomberg Goldman Sachs Group Inc. and a venture founded by one of its former partners, billionaire Mike Novogratz, are investing in cryptocurrency custodian BitGo Holdings Inc., as the bank’s deep-pocketed clients keep asking about secure ways to hold those assets. Combined, Goldman Sachs and Novogratz’s Galaxy Digital Ventures contributed about $15 million to BitGo’s Series B fundraising, which brought in ...
Read More »World’s steepest curve set to fade away
Bloomberg The most stubborn dove in eastern Europe may finally be ready to follow the procession of central bankers lifting interest rates across emerging markets, according to Amundi Asset Management’s Hungarian unit. Rate setters in Budapest may track the European Central Bank’s expected move in the second half of next year, but a drop in global risk appetite or an ...
Read More »Bank of Korea holds fire on interest rates
Bloomberg The Bank of Korea left its key interest rate unchanged as an escalating US-China trade war and meager job growth threaten to sap momentum in Asia’s fourth-largest economy. Eleven of 18 analysts surveyed by Bloomberg forecast the central bank to keep the seven-day repurchase rate at 1.5 percent. The rest predicted a hike to 1.75 percent. When Governor Lee ...
Read More »Boeing pushes for deeper China ties amid trade war
Bloomberg Boeing Co. is stepping up efforts to bolster its ties with China as President Donald Trump’s trade fight threatens to give rival Airbus SE an edge in the world’s second-biggest aviation market. In one sign of potential trouble, a Chinese airline that’s been an exclusive operator of Boeing jets for more than 30 years is said to be in ...
Read More »Airbus wins Kuwait order for A330Neo
Bloomberg Airbus SE won a contract from Kuwait Airways for its A330-800 aircraft model, securing a vital deal for the struggling program at the expense of a reduced order for the jet’s bigger sibling. Kuwait Air agreed to buy eight A330neos while paring a commitment for the larger A350 from 10 planes to five, according to a statement. The order ...
Read More »Ikea unveils special offers to mark 75th anniversary
ABU DHABI / Emirates Business Celebrating its 75th anniversary, Ikea is giving away instant cash prizes summing up to a total of AED 1,000,000 in giveaway prizes to lucky winners in the UAE, across their Dubai, Abu Dhabi and Al Ain stores. The retailer is awarding the shoppers scratch and win cards when they spend a minimum of AED400 in ...
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