Markets
BIS to establish fintech Innovation Hub
Facebook's plan to expand into payments and launch its own Libra cryptocurrency were not mentioned in the BIS statement , but the social media giant's move has helped crystallize opinion among central bankers on the urgency of coordinating regulatory responses to financial technology trends. [Full Article...]
Kenyans elicit mixed views after Michael Joseph's appointment as Safaricom's Interim CEO
Collymore joined the company in August 2010 and his tenure was to end in August 2019. Well, today the company has revealed who will be its CEO in the meantime. Safaricom has appointed former CEO Michael Joseph on an interim basis. Chairman of the Board, Nicholas Nganga, reiterated that Collymore's vision for the company will be considered in the impending new dispensation. [Full Article...]
Sydney, Melbourne housing prices climb
Analysts at Morgan Stanley said they were looking for a sustained rebound in auction clearance rates above 60 per cent, an increase in monthly home prices, higher auction volumes and a jump in mortgages for signs of improving housing market sentiment. [Full Article...]
US proposes tariffs on EU cheese, pork and whiskey
Scotch whisky is among the products targeted by the U.S. for a possible range of new tariffs on imported goods. The World Trade Organization has found that Boeing and Airbus, the world's two largest aircraft makers, received billions of dollars of subsidies , in the world's largest-ever corporate trade dispute. [Full Article...]
Brookfield Infrastructure and GIC acquiring Genesee & Wyoming in $6.37-billion deal
Surface Transportation Board , and certain competition and antitrust approvals. Finally, FMR LLC increased its position in Genesee & Wyoming by 14.1% in the fourth quarter. Genesee & Wyoming (NYSE:GWR) last issued its earnings results on Tuesday, April 30th. The company had revenue of $558.10 million during the quarter, compared to analyst estimates of $566.71 million. [Full Article...]
SAA acquires new state-of-the-art aircraft in its fleet
China Southern's A350-900 aircraft features a three-class cabin layout of 314 seats: 28 business, 24 premium economy and 262 economy class. "The introduction of these state-or-the-art aircraft to our fleet is an important step-change as we continue to make progress to transform our business and return the airline to financial sustainability in the shortest time possible", affirmed acting SAA CEO... [Full Article...]
Gold Prices Fall After Hitting Six-Year High
Spot gold fell 1.4 percent to $1,389.42 per ounce, while USA gold futures were down 1.5 percent at $1,392.45 an ounce. " We are most likely to see boosted volatility". Those watching the market said the optimism around a potential trade deal between the U.S. and China led to the movement. Meanwhile, holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0... [Full Article...]
Oil prices slip as demand worries outweigh OPEC supply cuts
Oil surged to a five-week high on Monday after Saudi Arabia and Russian Federation signalled an extension of the non-members of the Organisation of Petroleum Exporting Countries (OPEC+) output cuts and a United States (U.S.)-China agreement to restart trade talks improved the demand outlook. [Full Article...]