April, 2016

• 28 April

  EFG buys Luxembourg private bank of UBI Banca

  

    Bloomberg EFG International AG, in its second deal this year, has agreed to buy the Luxembourg-based private banking activities of UBI Banca International SA with 3.6 billion euros ($4.1 billion) of client assets. EFG earlier agreed to buy BSI from Brazil’s Grupo BTG Pactual SA in a bid to become Switzerland’s fifth-largest private bank. EFG didn’t disclose the price ...

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• 28 April

  Citi drops out of financing of Americana sale

  

    Reuters Citigroup has dropped out of the group of banks providing a $1.5 billion bridge loan to Gulf-based Adeptio for its planned purchase of a majority stake in Kuwait Food Co (Americana), three sources aware of the matter said on Thursday. The US bank failed to secure internal approval to participate in the deal, with two of the sources ...

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• 28 April

  Airbus profit dips on delivery delays as A400M troubles brew

  

  Bloomberg Airbus Group NV reported a 23 percent drop in first-quarter profit as its two newest jets suffer delivery delays, and said fresh problems with the troubled A400M transport plane could hurt future earnings. A ramp up in production of the A320Neo will be delayed until the second half as Pratt & Whitney works to fix an engine glitch, Airbus ...

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• 28 April

  Lufthansa delays Brussels Airlines acquisition

  

    Berlin / AFP Germany’s Lufthansa has postponed until September a decision on the acquisition of Brussels Airlines following last month’s deadly attacks on the Belgian capital, the airline said. The delay would allow the Belgian carrier to resume flights in the wake of the suicide bombings that targeted Brussels airport and a metro station, leaving 32 people dead, Lufthansa ...

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• 28 April

  Qatar Airways urges Airbus to resolve A350 ‘issues’

  

    Reuters Qatar Airways increased pressure on Europe’s Airbus over aircraft reliability, saying it had some “issues” with the A350 passenger jet, barely a year after it entered service. “We have some issues with the A350, which was expected because it’s a new programme. However, we feel that Airbus is losing steam in resolving these problems with the A350,” chief ...

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• 28 April

  BHS to buy chain out of administration

  

    Bloomberg BHS owner Dominic Chappell said he will seek to regain control of the struggling UK retailer that’s now in administration amid efforts to rescue the business and save 11,000 jobs. Chappell, whose Retail Acquisitions acquired BHS for a pound last year from billionaire Philip Green, is working with a group of potential purchasers and is likely to submit ...

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• 28 April

  Surging air tanker costs hit Boeing earnings

  

    NEW YORK /AFP More unexpected costs in its huge refueling tanker program for the US Air Force and slower commercial aircraft deliveries dented Boeing’s first-quarter earnings, the company reported. Boeing took a $156 million charge for unanticipated costs in the KC-46 programme, pushing earnings for the quarter ending on March 31 down 8.8 percent from a year ago to ...

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• 28 April

  Vietnam Air shares to start trading after ANA deal

  

    Bloomberg Vietnam Airlines Corp., which sold shares in an initial public offering 17 months ago, expects to get them listed “some time later this year” after closing a deal with ANA Holdings Inc., Chief Executive Officer Pham Ngoc Minh said. The shares of the state-owned carrier may start trading on the Ho Chi Minh City Stock Exchange, Minh said ...

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• 28 April

  Florida’s first sustainable town buzzes with construction boom

  

    Punta Gorda, United States / AFP With deep pockets and an environmentalist’s zeal, retired American football player Syd Kitson dreamed up a plan to build the United States’ first solar-powered town on a vast swath of rural land in southwest Florida. Now, nearly a decade after he first purchased the 91,000 acres (37,000 hectares) known as Babcock Ranch, construction is ...

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• 28 April

  ‘Pioneer’ commuters go electric in highly polluted Mexico city

  

    Mexico City / AFP Martin Vazquez glides silently through the pandemonium of rush hour in Mexico City, drives his sky-blue scooter up to a charging station and plugs it in. When Vazquez, a 28-year-old professional, moved to the Mexican capital a year ago, he drove here by car. But the city’s notorious traffic soon convinced him to sell it and ...

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