Bloomberg If you ask stock strategists, European banks are no longer a unanimous buy. Deutsche Bank AG lowered its recommendation on lenders to underweight, citing weaker economic momentum and falling German bond yields. The downgrade comes two weeks after a strategist at HSBC Holdings Plc said the bank has been cutting its position on European financials, predicting US 10-year Treasury …
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Bloomberg The Bank of Baroda’s South African unit has been in possession of the “proceeds of crime†linked to a dairy farm project that involved the politically connected Gupta family, said Thato Ntimutse, a lawyer for the National Prosecuting Authority’s Asset Forfeiture Unit. While India’s Bank of Baroda has tried to stop the state from freezing 30 million rand ($2.5 …
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Bloomberg Airline industry experts have been proclaiming the death of first class for years. While some airlines have done away with it altogether, others are doubling down with palatial suite-style seats, lavish amenities, and services that pamper, both on the ground and in the air. What’s ensued is a golden age of flying … for those who can afford it. …
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GENEVA / WAM The United Arab Emirates (UAE) has joined a chorus of international actors in calling for respecting a truce in Syria’s eastern Ghouta and affirmed that the Syrian people had experienced brutal confrontations and systematic targeting and could not tolerate another bloody chapter. Obaid Salem Al Zaabi, Permanent Representative of the UAE to United Nations and other International …
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BAGHDAD / Reuters Iraq’s parliament approved on Saturday a long-delayed 104 trillion Iraqi dinar ($88 billion) 2018 state budget, two lawmakers told Reuters, though lawmakers from the semi-autonomous Kurdistan region boycotted the session. The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46, …
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Bloomberg A bright future lies ahead for OLED. When that starts, and how long it lasts, is less clear. Organic light-emitting diode screens have been touted as the future of smartphones because they’re crisper and easier on batteries than their liquid-crystal predecessors. In 2017, as Apple Inc. prepared its OLED iPhone X, suppliers led by Samsung Electronics Co. rushed to …
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Bloomberg Amazon.com Inc. is embracing open-source software in the race to get its voice-based Alexa digital assistant into cars ahead of Google. Amazon engineers are working with Nuance Communications Inc. and Voicebox Technologies Corp. to write code that makes in-vehicle apps compatible with several speech-recognition technologies, eliminating the need for developers to make multiple versions. A working group was set …
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Bloomberg Venmo’s app succeeded in becoming a ubiquitous way for young people to send money back and forth. It has been less successful at creating a sustainable business. Dan Schulman, chief executive officer of Venmo parent company PayPal Holdings Inc., said that while it hasn’t happened yet, the app will make money someday. “I have full confidence that we will …
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Bloomberg Ford Motor Co. is taking its driverless delivery trials to South Beach to continue testing consumer response to receiving pizzas and packages from the back of a robot ride. The automaker is deploying a handful of delivery vehicles on the clogged byways of Miami and Miami Beach to serve up Domino’s pizza, groceries and other cargo. They’ll be dressed …
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Bloomberg Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbour. The freeze severely tested Europe’s energy network over the past week. Spot gas prices tripled to a record, drawing in more Russian supplies by pipeline and prompting a …
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