1) Boeing Sees Airline Thirst for New Mid-Range Jetliner Family
(Bloomberg) -- Boeing Co. is seeing strong airline interest in a new mid-range aircraft on its drawing board, bolstering the case for its biggest potential product development of the next 10 years. No current-generation aircraft are specifically designed for long flights within a region, like the seven-hour trek from Tokyo to Singapore, said Ray Conner, chief executive officer of Boeing's commercial aircraft unit, told reporters at a Sunday briefing ahead of the ...
2) China Pension Readies $300 Billion Warchest for Market Foray
(Bloomberg) -- China's pension funds are about to become stock investors. The country's local retirement savings managers, which have about 2 trillion yuan ($300 billion) for investment, are handing over some of their cash to the National Council for Social Security Fund, which will oversee their investments in securities including equities. The organization will start deploying the cash in the second half, according to China International Capital Corp. and CIMB Securities. ...
3) Abe's Fiscal Stimulus Plans to Take Shape After Election Win
(Bloomberg) -- After the ruling party scored a convincing victory in Sunday's upper house election, the focus now turns to Japanese Prime Minister Shinzo Abe's plans for fiscal stimulus. Details of the scale and financing of the package remain unclear, though Abe pledged to take "broad, bold" measures to support the economy on June 1 as he announced a delay to a planned sales-tax increase. One adviser to Abe has called for 20 trillion yen ($199 ...
4) Bin-Busting Global Wheat Supplies Signal Price Rout Isn't Over
(Bloomberg) -- Canada's wheat farmers still have more than a month before they start the bulk of this season's grain harvest, but they're already worried about where to store a bumper crop. Even though growers planted less after prices fell last year, beneficial weather boosted the outlook for yields across Canada's Prairies. The potential for near-record output means farmers are stocking up on grain bags to store wheat on the ground amid expectations ...
5) China Education Stocks Soaring With Investors Souring on Others
(Bloomberg) -- MSCI Inc.'s inclusion of U.S.-listed Chinese Internet giants in its benchmark indexes last year had analysts predicting a rally for the stocks as investors added those shares to their portfolios to reflect the changes. Instead, ten out of 14 U.S.-listed Chinese stocks added to MSCI's indexes have plunged. Only two companies, both focused on education, bucked the trend with significant gains. Chinese equities in Shanghai have struggled to recover ...
6) Airbus Said Close to $7.5 Billion A320neo Deal From GoAir
(Bloomberg) -- Airbus Group SEis in discussions with Go Airlines India Pvt. regarding the purchase of about 70 A320neo planes worth around $7.5 billion at list prices, according to people familiar with the situation. An announcement could come as early as this week at the Farnborough Air Show in England, though talks may extend further into the year, said the people, who asked not to be identified because the negotiations are ongoing. GoAir is one of ...
7) Europe Turmoil Shows Why Deutsche Bank Must Chase Wealth Abroad
(Bloomberg) -- Deutsche Bank AGis pushing ahead with plans to become one of the world's top five wealth managers as the business outlook for European banks worsens because of the Brexit vote and Italy's banking crisis. Market volatility after the U.K.'s vote to leave the European Union underscores the need for Germany's largest bank to bolster its presence outside the region and expand fee income from looking after rich people's money, Fabrizio Campelli, the ...
8) Dymon Hedge Fund Positioned on Right Side of Brexit Tops Peers
(Bloomberg) -- A top-performing hedge fund is sticking with wagers on a stronger yen and a weaker pound after the positions paid off following the U.K. referendum to leave the European Union. The Dymon Asia Currency Value Fund jumped an estimated 4 percent on the day the Brexit vote result was announced, and has gained 13 percent in the first half of this year for investors using less leverage, according to Gerald Chan, head of distribution for Dymon Asia Capital (Singapore) Pte. ...
9) China Hedge Funds Turn More Bullish on Stocks After Brexit Vote
(Bloomberg) -- China's hedge fund managers, including some of the best performers during last year's rout, are turning bullish on stocks as the nation's shares remain resilient after Britain's vote to leave the European Union. About 76 percent of funds planned to add stock holdings this month, a jump from 50 percent in June, according to surveys by Shenzhen Rongzhi Investment Consultant Co., which tracks Chinese hedge funds. The benchmark gauge has climbed since ...
10) Amid Brexit's Market Volatility, Indian Bonds Provide Stability
(Bloomberg) -- Indian bonds are providing investors a refuge from the volatility that's gripped Asian markets as they assess the implications of Brexit. Swings in rupee sovereign debt, which has among the region's lowest foreign ownership due to limits on short-term investors, have narrowed since the U.K.'s June 23 vote to exit the European Union even as they got wilder in Indonesia, Malaysia and Thailand. That's giving confidence to funds including Neuberger Berman ...
11) Savage Selloff Hits Japan Stock ETFs as Americans Shun Abenomics
(Bloomberg) -- American investors in Japanese stocks just want out, even if they're getting currency gains from a soaring yen. Outflows this year from the two biggest U.S.-listed exchange-traded funds tracking the Tokyo market swelled to almost $10 billion as the Topix index tumbles to one of the world's largest losses. The BlackRock Inc. and WisdomTree Investments Inc. funds are both in the top five of more than 1,300 American ETFs in terms of ...
12) Out of Africa, Netanyahu Says He'll Expedite Business Deals
(Bloomberg) -- Prime Minister Benjamin Netanyahu will follow up on his palace-hopping trek through east Africa with financing and regulatory help for some of the business deals his entourage of Israeli executives discussed along the way. The diplomatic fruit of last week's five-day trip will ripen only further down the road, said Netanyahu, who hopes stronger alliances with African and Arab leaders can help blunt the antagonism Israel routinely faces at the United ...
13) Kazakh Central Bank to Pounce on Dollars as Tenge Regains Appeal
(Bloomberg) -- Kazakhstan's central bank is prepared to return to the currency market in force to mop up excess dollars after a month of doing "practically zero" as higher returns draw savers to tenge deposits, Governor Daniyar Akishev said. "If there are significant inflows of foreign currency, we are ready to buy as before," Akishev said in an interview on Friday in Almaty, Kazakhstan's commercial capital. Seasonal factors including summer travel boosted ...
14) Currency Traders Shun Last Look in Suspicious Climate, LMAX Says
(Bloomberg) -- Most currency traders in the $5.3 trillion- a-day market want to see the practice known as last look banned, according to LMAX Exchange. Those are some conclusions drawn from a survey of more than 1,100 industry participants carried out by the London-based foreign-exchange-trading venue. LMAX found that 76 percent of respondents preferred to trade without last look, or the convention in which dealers can reject losing trades at the last minute, while 62 percent ...
15) Falling U.S. Oil Output Not Enticing Enough for Wary Investors
(Bloomberg) -- Not even a sharp decline in U.S. oil production can convince investors that oil prices are ready to rebound. Stubbornly high U.S. inventories and resurgent output from OPEC, Russia and Canada have prompted money managers to cut bets on rising crude prices to the lowest level in four months. West Texas Intermediate crude fell last week even as U.S. government data showed output slid to the least since May 2014. "The problem is that OPEC more than makes up ...
16) Man Group's Contrarian Ruble Bet Pays Off as Hedge Funds Rush In
(Bloomberg) -- Backing the ruble seemed like a lonely bet for Man Group Plc's Guillermo Osses five months ago, but now the strategy is paying off -- and the rest of the market is racing to catch up. The head of emerging-market debt strategy at the company's Man GLG unit has been bullish on the Russian currency and local debt markets since at least February, arguing that stabilizing oil prices would end the ruble's slide and curb inflation in the world's largest energy ...
17) Qatar's Triple Bond-Fee Payment Sets New Era for Gulf Borrowers
(Bloomberg) -- Qatar more than tripled the underwriting fees it paid to raise $9 billion in May as the end of the oil boom prompts Middle East exporters to turn to foreign bankers who can drum up cash from every corner of the world. The move may set a precedent for neighboring countries in the Gulf Cooperation Council like Saudi Arabia, turning to bond markets for the first time after the crude crash left it with a gaping budget deficit. Qatar, host to the 2022 soccer World ...
18) Chinese Billions Flood Into Soccer, Snaring Hulk in Record Deal
(Bloomberg) -- Hulk had quite the welcome to China. Shortly after his plane landed at Shanghai's Pudong International Airport, hundreds of chanting fans mobbed the Brazilian soccer star as he pushed his way through the crowd on June 29. Hulk, who recently inked a record-breaking deal with Shanghai SIPG, is just the most recent soccer star to sign up. Long a soccer backwater, China has gone on a buying spree unprecedented in the history of ...
19) H.K. Outperformer Truly International Targets Spinoff by 2017
(Bloomberg) -- Truly International's proposed A-share spinoff will be completed by 2H 2017, pending regulatory approval, COO James Wong told Bloomberg in an interview. * Spin-off positive as proceeds can fund expansion; co. well placed to capture upcoming demand for AMOLED, GF Holdings analyst Joseph Ho said by phone * Co. could benefit from higher A share valuations * Wong says "worst is over" for earnings; sees sales growth at high single-digit or low ...
20) German Military Said to Take More Assertive Role in Policy Shift
(Bloomberg) -- Germany will take on greater military leadership in global conflicts, requiring a sustained increase in defense spending and troop strength, according to plans for the nation's first overhaul of security policy in a decade. A "renaissance of classic power politics" is increasing "the risk of violent conflict between states, including in Europe and its neighborhood, as the example of Russia's actions in Ukraine demonstrate," according to a draft ...
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