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Jet Airways to Buy 75 More Boeing 737 MAX Jets et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 26, 2018 12:34 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday / June 26, 2018) #AxonCapital #IREO #Reliance #RelianceJio #RBI #ICICI #NPA #badloan #debt #JetAirways #BMW #EU #UK #Brexit #CocaCola #GSK #Horliks #Transfin

Editor's Comment: Hedge funds, Axon Capital and Christoper Hohn’s Children’s Investment fund, allege $1.5bn fraud by Indian real estate firm IREO Management, potentially one of the biggest scams ever alleging IREO created shadow companies, dumped documents and siphoned money.

 

Reliance takes its first big step into e-commerce with JIO creating an app for millions of shopkeepers, ‘Kirana’ stores roped in from Mumbai and Ahmedabad. The idea is to incorporate the company’s $10bn retail business, data and digital payments systems with the scattered, defragmented supply chain and logistics system. 

 

RBI widens ICICI Bank probe after whistleblower complaints it delayed provisioning of NPAs for eight years to show profits. The whistleblower claims that 31 loan accounts were not acknowledged under default, over the span of 8 years.

 

BMW warns of UK investment pullback if there is no Brexit deal allowing free flow of good to EU. BMW is rethinking its strategy for production in UK in the long term, with the UK motor industry already seeing a drastic reduction of investments in the first half of the year.

 

Coca-Cola to bid for GlaxoSmithKline’s consumer nutrition business Horlicks valued at c. $4bn, joining Nestle, Danone and Hindustan Unilever in the bidding war. Coca Cola looks to expand in the health nutrition space aimed at children. Coca Cola has mandated Citi to assist them in the bidding process with valuation already begun.

 

Jet Airways to buy 75 more Boeing 737 MAX jets for $9.7bn taking its total orders to 225, having ordered 75 jets each back in April and October. This comes in a positive sign, in times of a brewing tariff war between India and US