GLOBAL MARKETS: Jet Airways under pressure
Jet Airways India was once at the forefront of India’s rapidly growing market for air travel, but budget carriers and surging fuel prices are backing the airline into a corner.
Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 15% on Friday in Mumbai after the company postponed announcing its first-quarter earnings, less than a week after denying a report that it needs drastic measures to cut costs and bolster its finances.
Barclays lures SocGen analysts
Barclays Plc, one of Europe’s biggest investment banks, has hired a team of equity analysts from rival Societe Generale SA as CEO Jes Staley seeks to make more money from trading stocks. Warren Ackerman has joined as head of European consumer equity research; Michael Sanderson will be co-head of diversified financial research. Four others are also joining the UK bank.
Staley has approved the hiring of more than 50 equity traders and analysts since last year in a bid to revive the bank’s stocks unit, which has been struggling, according to data compiled by Bloomberg Intelligence.