The Editorial Team |

Bank of England Governor Mark Carney Confirms Rate Hike Is Near

LONDON (Capital Markets in Africa) – Mark Carney reaffirmed that the Bank of England is close to its first interest-rate increase in over a decade, as inflation hit 3 percent and one of his colleagues said the economy is approaching a “tipping point.” In a series of testimonies to lawmakers, the BOE governor and the two newest members of the rate-setting Monetary Policy Committee signalled that the erosion of economic slack is dominating their thinking as they prepare for…

`Cautious’ BOE Makes Gilt Slide a Buy for Macquarie Investment

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LONDON (Capital Markets in Africa) – The market’s pricing of two interest-rate hikes in coming months by the Bank of England is “a bit overdone” for Macquarie Investment Management and so it sees the recent fall in gilts as a buying opportunity. Markets are pricing in an 85 percent chance of a 25-basis-point rate increase for the next BOE meeting on Nov. 2, more than double the probability in early August after growing inflationary pressures in the U.K. and…

European Car Sales Drop as Brexit Concerns Hurt U.K. Demand

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LAGOS (Capital Markets in Africa) – European car sales fell in September for only the second monthly drop this year as concerns about Brexit among United Kingdom. consumers more than offset gains in France, Italy and Spain. Registrations declined 2 percent from a year earlier to 1.47 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said Tuesday in a statement. Figures were dragged down by a 9.3 slide in the U.K., the region’s second-biggest…

Bankers Go on a Day Trip to Blockchain’s Magical World

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LAGOS (Capital Markets in Africa) – Blockchain experiments are everywhere in finance these days. Actual blockchain applications that are big enough to have any lasting impact on banking, not so much. Those offenders who talk a lot without doing anything of substance have even been given a name in crypto world. “Too many people are using [blockchain] as a buzzword and are not focused on solving a real problem,” Ripple CEO Brad Garlinghouse wrote recently. “We like…

Deutsche Bank Is Said to Drop Spanish Unit Sale Over Price

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LAGOS (Capital Markets in Africa) – Deutsche Bank AG said on Monday that it will keep its Spanish retail operation, dropping plans for a potential sale to shore up capital. “To end all speculations, we confirm that we remain committed to our successful and profitable business in Spain,” a Deutsche Bank spokeswoman said in an emailed statement. The Frankfurt-based bank had planned to sell the business but didn’t get the price it wanted, according to a…

German Investor Optimism Gains as Economy and Stocks Power Ahead

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LAGOS (Capital Markets in Africa) – German investor confidence rose for a second month as stocks rallied and data signalled that Europe’s largest economy is on track for a solid expansion in the second half of the year. The ZEW Centre for European Economic Research’s index of investor expectations climbed to 17.6 in October from 17 in September. The reading compares with a median estimate in a Bloomberg survey for an increase to 20.0. After a…

Airbus Snaps Up Bombardier C Series in New Boeing Challenge

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LAGOS (Capital Markets in Africa) – Airbus SE agreed to acquire a majority stake in Bombardier Inc.’s C Series program and will start assembling the jetliner in the U.S., vaulting a technologically advanced but slow-selling plane onto the front lines of the battle with Boeing Co. over global aircraft sales. Without putting up a dime at closing, Airbus will take just over half of a partnership controlling the C Series. The European plane maker’s marketing muscle and production expertise…

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