April, 2016

• 23 April

  Reliance profit climbs to highest

    Mumbai / Bloomberg Reliance Industries Ltd.’s fourth-quarter profit climbed 17 percent to the highest in more than eight years as oil’s collapse improved margins from turning crude into fuels and petrochemicals. Net income at the operator of the world’s biggest refining complex increased to $1.1bn in the three months ended March 31 from 62.4 billion rupees a year earlier, ...

  Read More »
• 23 April

  Sony delays forecasts to assess quake fallout

    Tokyo / Bloomberg Sony Corp. will postpone its forecasts for the current fiscal year while it assesses the damage from an earthquake that shut its main plant for camera sensors. The Japanese company said it won’t provide its usual financial outlook when it reports earnings on April 28 and will instead announce guidance in May. On Thursday, the company ...

  Read More »
• 23 April

  Carry trade gains traction as currency volatility turns lower

  

    Bloomberg Conditions in the $5.3 trillion foreign-exchange market have turned supportive for one of the most popular trading strategies — the carry trade. Returns from the technique, in which investors borrow in currencies with low interest rates and use the proceeds to buy an asset with higher rates, advanced this week to the highest levels since December, according to ...

  Read More »
• 23 April

  Brazil cuts jobs for 12th month as recession deepens

    Bloomberg Brazil shed more than 100,000 formal jobs in March as a second year of recession pummels a labour market that’s not expected to improve in 2016 regardless of how President Dilma Rousseff’s impeachment process plays out. The March result of 118,776 jobs lost marked the 12th straight month of employment decline, the longest run of negative prints since ...

  Read More »
• 23 April

  Citigroup, US Bancorp sell Brazilian credit-card venture

    Bloomberg Citigroup Inc. and U.S. Bancorp agreed to sell their Brazilian credit-card joint venture to Stone Pagamentos SA, according to an e-mailed statement from the Sao Paulo-based payments company. The deal gives the venture, Elavon do Brasil Solucoes de Pagamento SA, an enterprise value of more than 300 million reais ($84 million), according to a person familiar with the ...

  Read More »
• 23 April

  Mexichem tumbles with ICA after deadly blast at Mexico plant

  

    Bloomberg Mexichem SAB and Empresas ICA SAB fell the most on Mexico’s benchmark index after a deadly blast at a petrochemical plant where both companies had operations. Mexichem dropped 3.4 percent, capping a two-day decline of 8.4 percent after the on Wednesday explosion at a facility the company co-owns about 600 kilometers from Mexico City. ICA, which was upgrading ...

  Read More »
• 23 April

  Yahoo to narrow field of bidders as soon as next week

  

    Bloomberg First-round bidders for Yahoo! Inc. could find out as early as next week whether they’ve made it through to the next stage. Yahoo’s advisers will spend the weekend narrowing down the field of bidders after receiving more than 10 initial offers for the Internet company ranging from about $4 billion to $8 billion. Several first-round bidders will be ...

  Read More »
• 23 April

  TransCanada agrees to Quebec environmental review for pipeline

  

    Calgary, Alberta / Reuters TransCanada Corp agreed to submit to a Quebec environmental review of its Energy East pipeline, avoiding a potential legal battle with the province by putting the controversial project through an extra round of scrutiny. The resolution removes a potential hurdle but also introduces another approval process for the nearly 4,600 km cross-Canadian pipeline, which will ...

  Read More »
• 23 April

  Merkel visits refugee camp in Turkey to assess migrant pact

  

    Turkey / AFP German Chancellor Angela Merkel visited a refugee camp on the Turkish-Syrian border on Saturday, kicking off a high-stakes visit aimed at boosting a month-old migrant deal plagued by moral and legal concerns. Merkel, who was accompanied by European Council head Donald Tusk and European Commission Vice President FransTimmermans, headed to the Nizip 2 camp near Gaziantep ...

  Read More »
• 23 April

  Egypt court postpones Morsi espionage verdict

    Cairo / AFP An Egyptian court postponed on Saturday its verdict and sentence in the trial of ousted president Mohamed Morsi, who is charged with spying for Qatar. The head judge of the criminal court said the verdict was postponed to “May 7 to continue consultations,” in brief remarks aired on television. If he is convicted it would be ...

  Read More »