April, 2016

• 30 April

  Restaurant Group plunges as sales slide at Frankie & Benny’s

  

    Bloomberg Restaurant Group Plc shares plunged in London after the UK owner of Frankie & Benny’s eateries forecast another hit to profits amid deteriorating sales. The stock fell as much as 25 percent to 282.1 pence, the lowest in almost four years. It was down 23 percent at 10:52 a.m., extending its drop this year to 58 percent. After ...

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• 30 April

  Janaillac set to be new head of Air France-KLM

  

    Paris / AFP Jean-Marc Janaillac, head of French transport group Transdev, is likely to be nominated to head Air France-KLM on Tuesday following the surprise resignation of CEO Alexander de Juniac, French economic newspaper La Tribune reported. “According to our information, the group’s nomination committee which met on Friday decided to propose Tuesday to the Air France-KLM board the ...

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• 30 April

  Sportswear brand Puma eyes boost from soccer tournaments, Olympics

  

    Frankfurt / AFP German sportswear and equipment maker Puma said business increased in the first quarter and that it is expecting a boost from major sporting events such as Euro 2016 and the Brazil Olympics. Like its arch-rival Adidas, which earlier this week lifted its forecasts on the back of a strong first quarter, Puma said it got off ...

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• 30 April

  RBS suffers increased losses in Q1

  

    London / AFP Britain’s state-rescued Royal Bank of Scotland (RBS) said net losses more than doubled in the first quarter owing to an exceptional payment back to the government. Losses after tax in the first three months of the year stood at £968 million ($1.4 billion, 1.2 billion euros), which compared with a net loss of £459 million in ...

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• 30 April

  CIB approves extension for Beltone’s offer for CI Capital

  

    CAIRO / Reuters Egypt’s Commercial International Bank (CIB) approved a two-week extension for an offer by Beltone Financial to acquire its subsidiary CI Capital, CI Capital’s Chief Executive Officer Mahmoud Atalla told reporters. “CIB approved Beltone’s request to extend the period of the offer to acquire CI Capital by two weeks, ending on May 12,” Atalla said. In February, ...

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• 30 April

  Egyptian central bank keeps interest rates unchanged

  

    CAIRO / Reuters Egypt’s central bank kept its key interest rates unchanged in its first decision since it raised rates by 150 basis points last month. The bank’s Monetary Policy Committee (MPC) kept the overnight deposit rate at 10.75 percent and the overnight lending rate at 11.75 percent, it said in a statement. Egypt has been struggling to restore economic ...

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• 30 April

  ICICI Bank’s profit dips maximum in 15 years as provision levels surge

  

    Bloomberg ICICI Bank Ltd., India’s second-largest lender by assets, reported the biggest drop in quarterly profit in at least 15 years after setting aside reserves on top of bad-loan provisions to cushion future defaults. Net income fell 76 percent to 7 billion rupees ($105 million), or 1.2 rupees a share, for the three months ended March 31, from 29.2 ...

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• 30 April

  Saudi central bank’s foreign assets fall $6 billion in March

    Reuters Saudi Arabia’s central bank, which serves as the kingdom’s sovereign wealth fund, reported a fall of $6 billion in net foreign assets in March as low oil prices took their toll. Net foreign assets held by the central bank dropped by 1.0 percent from the previous month to 2.17 trillion riyals ($579 billion) in March, central bank data ...

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• 30 April

  The ugly side of beauty

  

    China / Ann The quest for that beauty treatment did have fatal consequences for three Hong Kong women. The medical miscarriages took place over less than three-and-a-half years. Nothing has changed. The city’s beauty industry still is pretty much free to do whatever makes it most profitable. A 46-year-old woman named Chan walked into a DR beauty centre in ...

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• 30 April

  Volvo wants UK families to test its self driving cars

  

    Relexnews Following the launch of similar projects in Sweden and China, Volvo is getting ready to start testing autonomous cars on the UK’s roads. When the trial begins in early 2017 it will represent one of the most ambitious tests of its kind on British roads and one that will involve real people with real transport needs. Volvo intends ...

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