May, 2016

• 8 May

  Creators of the first and last SIV return with British bank

  

    Bloomberg Nicholas Sossidis and Stephen Partridge-Hicks, the bankers who created the model for Structured Investment Vehicles (SIV) that later collapsed during the global financial crisis, are back. Sossidis and Partridge-Hicks own First Global Trust Bank (FGTB) Plc, a London-based firm that was authorised to provide banking services a month ago after a three-year approval process, UK Companies House and ...

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• 8 May

  Dubai buys Montenegro marina development

  

    Bloomberg Investment Corporation of Dubai (ICD), the investment arm of the Dubai government, has agreed to the purchase of the Porto Montenegro Marina and Resort in Montenegro. ICD which is building its hospitality portfolio and holds a significant equity stake in Kerzner International Holdings, founded by South African entrepreneur Sol Kerzner and the operator of the One&Only, Atlantis and ...

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• 8 May

  British Columbia’s realty mkt sees changes

    Reuters After weeks of acrimonious headlines and months of finger-pointing, there’s been a few developments that should eventually help ease skyrocketing Vancouver home prices. At the end of March, the president of Real Estate Board of Greater Vancouver (REBGV), the provincial trade association that represents British Columbia (BC) ’s realtors, wrote an open letter to B.C. Premier Christy Clark, ...

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• 8 May

  Equestrian estates across America still a hot property

  

    Bloomberg If you win big this weekend at the Kentucky Derby (like, really big) and want to park those winnings in some real estate, you may be in luck. The luxury market has surpassed pre-crash heights in many arenas, but relative bargains in horse-centric properties are still possible. “Equestrian properties in really desirable areas are still probably 20 percent ...

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• 8 May

  Plunging fares to guzzle fuel saving, says Air France-KLM

  

    Bloomberg Air France-KLM Group said air fares will come under sustained pressure this summer amid a glut in capacity, making it tougher to maintain the pricing discipline that helped the company pare losses in the first quarter. Declining unit revenue, a measure that reflects average fares, wiped €119 million ($137 million) from earnings in the three months through March, ...

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• 8 May

  Thailand’s top paint producer to weigh $400 million IPO

    Bloomberg TOA Group, controlled by Thailand’s Tangkaravakoon family, is considering an initial public offering of its paints and chemicals business, people with knowledge of the matter said. The company, which is Thailand’s number one paint producer, is working with banks on a possible share sale that could raise at least $400 million, one of the people said. A listing ...

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• 8 May

  Business-jet sales dip most since 2011

  

    Bloomberg Sales of new private aircraft fell 16 percent in the first quarter from a year ago as demand weakened for the largest planes. Jet airplane billings were about $3.53 billion in the first quarter, down from $4.2 billion a year earlier, according to the General Aviation Manufacturers Association. That was the biggest decline in almost five years. Demand ...

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• 8 May

  Burberry needs fresh design talent: Gadfly

  

    Bloomberg Burberry needs a style update. The luxury goods group is looking to appoint a senior manager to support chief executive Christopher Bailey, who is also its creative director, according to the Financial Times. This is not what Burberry needs. Bailey was already the brand’s top designer when he assumed the CEO role in May 2014, after his predecessor, ...

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• 8 May

  Airbus sets sights on the stratosphere with glider flight

  

    Minden / AFP Airbus completed a test flight of a glider set to eventually travel to the edge of space, in a pioneering step into the stratosphere. The Perlan 2’s flight, from an airstrip in the western US state of Nevada, took place two hours after the planned start time due to heavy rain. It lasted just a few minutes ...

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• 8 May

  Digging deep in S Africa as diamond hunt gets tougher

  

    Venetia Mine, South Africa / AFP Proof that diamonds are getting harder to find can be seen in the South African bush, where one of the world’s largest mining companies is spending $2 billion tunnelling beneath a vast open-pit mine. De Beers spent 25 years digging a 450-metre (1,500-foot) deep by one-kilometre wide hole to access diamond-rich rock from the ...

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