31 July

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Analysis-Airbus production plans expose strategy rift with engine makers By Reuters

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By Tim Hepher PARIS (Reuters) - A rift between Airbus and engine makers over plans for higher jet output blotted strong aerospace earnings this week, with worries over the supply chain's industrial capacity masking a deeper tug of war over contrasting business strategies. With travel demand snapping back in key U.S. and Chinese markets, Airbus wants to almost double jet production in a few years as it capitalises on a bulging order book for new jets and the recent woes of embattled U.S. rival Boeing (NYSE:BA). In May, it issued a mix of firm targets and...

31 July

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Chevron tops profit estimates, joins share buyback stampede By Reuters

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By Shariq Khan (Reuters) -Chevron Corp on Friday reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels. Oil and gas are trading near multi-year highs as fuel consumption has thrown off pandemic losses and natural gas has soared on weather demand. OPEC's decision to carry production curbs into next year has kept oil above $70 per barrel. The company cut its annual capital spending forecast to about $13 billion, now below what it...

31 July

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Deutsche Bank, SocGen Among Weakest in European Stress Test By Bloomberg

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(Bloomberg) -- Deutsche Bank AG (NYSE:DB) and Societe Generale (OTC:SCGLY) SA emerged among the weakest of the large European lenders in a stress test that regulators will consult when vetting plans on investor payouts. The German lender’s common equity tier 1 ratio, one of the most important measures of financial strength, fell 620 basis points to 7.4% in an adverse scenario that assumes a prolonged period of low interest rates and a steep contraction of the economy over three years. Societe Generale’s ratio dropped 562 basis points to 7.5% in the European...

31 July

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Bank of England to end euro liquidity facility By Reuters

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LONDON (Reuters) - The Bank of England said on Thursday that it would end a facility that allowed British-based financial institutions to access funds in euros, due to improved market conditions which had removed the need for the programme. The Liquidity Facility in Euros (LiFE) - which started in March 2019 when there were concerns that Britain's departure from the European Union might be disorderly - will hold its last scheduled operation on Sept. 29 and close on Oct. 1. "The Bank of England, in co-ordination with the European Central Bank, stands ready to re-adjust...

31 July

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Explainer-Major Ethereum upgrade set to alter supply, fix transaction fees By Reuters

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By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Ethereum, the second-largest blockchain network, is about to undergo a technical adjustment that will significantly alter the way transactions are processed, as well as reduce the supply of the ether token and sharply boost its price. The scheduled coding revamp will go live on Aug. 4. The upgrade known as Ethereum Improvement Proposal (EIP) 1559 is similar, analysts said, to a bitcoin "halving" event in which periodic adjustments reduced the supply of bitcoin. Each halving helped propel bitcoin's price to higher records. While bitcoin is the...

31 July

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Euro zone inflation rises above ECB target By Reuters

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FRANKFURT (Reuters) - Euro zone inflation rose faster than expected this month, moving decisively past the European Central Bank's 2% target with much of this year's surge still to come. Inflation in the 19 countries sharing the euro accelerated to 2.2% in July from 1.9% a month ago, easily beating analysts' expectations for 2% as energy prices continued to surge, data from Eurostat, the EU's statistics agency showed on Friday. Inflation is expected to accelerate further in the coming months and will likely peak over 2.5% towards the end of the year, with risks skewed...

31 July

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U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures By Reuters

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By Echo Wang, Scott Murdoch and Kane Wu (Reuters) -The U.S. securities regulator will not allow Chinese companies to raise money in the United States unless they fully explain their legal structures and disclose the risk of Beijing interfering in their businesses, the agency said on Friday, confirming an exclusive report by Reuters. In a statement, Securities and Exchange Commission Chair Gary Gensler said he had also asked staff to "engage in targeted additional reviews of filings for companies with significant China-based operations." The development underscores U.S. policymakers' concerns that Chinese companies are systematically flouting U.S....

31 July

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Monte dei Paschi capital would be wiped out by slump, EU bank stress test shows By Reuters

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By Huw Jones, Valentina Za and Jesús Aguado LONDON (Reuters) -All of Monte dei Paschi's capital would be wiped out by a long slump, a European Union stress test of banks showed on Friday, as the Italian lender headed for government-sponsored merger talks with domestic peer UniCredit. The exercise by the European Banking Authority showed that EU banks took a 265 billion euro ($314.7 billion) hit in a test of their resilience to economic shocks, which still left them with two-thirds of their buffers intact. The EBA tested the resilience of 50 top lenders to...

31 July

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Japan eyes fresh stimulus package as new curbs weigh on growth By Reuters

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By Leika Kihara TOKYO (Reuters) - Japan will act "without hesitation" to cushion the economic blow from the COVID-19 pandemic, economy minister Yasutoshi Nishimura said on Friday, signalling the government's readiness to compile another spending package as the crisis weighs on growth. Japan decided on Friday to expand states of emergency to three prefectures near Olympic host Tokyo and the western prefecture of Osaka, as COVID-19 cases spike, a move that will delay an already fragile economic recovery. With slow vaccinations and handling of the pandemic hitting his support ratings, Prime Minister Yoshihide Suga is under...

31 July

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End of Student Loan Relief Poses Risk to Credit Card, Auto ABS By Bloomberg

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(Bloomberg) -- U.S. consumers will have to resume making payments on their Federal student loans when a Covid-related relief program expires on Sept. 30, and some borrowers may struggle to pay all their debts at that point. That could spill over into bonds backed by private student loans, as well as auto loans and credit cards, which have performed unexpectedly well over the last year as Covid stimulus and debt relief programs have helped borrowers pay their bills, or skip payments. The March 2020 CARES Act suspended payments and collections on defaulted federal student loans,...

Меню

Analysis-Airbus production plans expose strategy rift with engine makers By Reuters

Chevron tops profit estimates, joins share buyback stampede By Reuters

Deutsche Bank, SocGen Among Weakest in European Stress Test By Bloomberg

Bank of England to end euro liquidity facility By Reuters

Explainer-Major Ethereum upgrade set to alter supply, fix transaction fees By Reuters

Euro zone inflation rises above ECB target By Reuters

U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures By Reuters

Monte dei Paschi capital would be wiped out by slump, EU bank stress test shows By Reuters

Japan eyes fresh stimulus package as new curbs weigh on growth By Reuters

End of Student Loan Relief Poses Risk to Credit Card, Auto ABS By Bloomberg

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