April, 2016

• 6 April

  Brokers upended as Obama toughens retirement accounts

  

  Bloomberg US brokers managing retirement accounts must adhere to tough new standards under an Obama administration rule released on Wednesday that aims to protect millions of savers from conflicted investment advice. The Labour Department regulation, which gave the industry some concessions from an earlier proposal, puts a capstone on President Barack Obama’s efforts to rein in Wall Street and level ...

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• 6 April

  Ontario selling Hydro One stake in $1.3 billion share agreement

  

  Bloomberg Ontario is selling a stake in Hydro One Ltd. for C$1.71 billion ($1.3 billion) five months after completing Canada’s largest initial public offering since 2000. In the so-called bought deal, where banks commit to buying the entire offering for resale to investors, the province is selling 72.4 million shares of Hydro One at C$23.65 apiece, the Toronto-based utility said ...

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• 6 April

  Argentina’s Prat-Gay leaves debt deadline move with holdouts

  

  Bloomberg Argentina called on bondholders to give the country more time to repay about $12 billion in debt still owing from its 2001 default as a court hearing prevents the government from making the payment within the deadline. The New York Appeals Court will begin to hear the case on April 13, one day before Argentina has to make the ...

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• 6 April

  ‘Brazen one’ puts spanner in Kia’s Mexico plant

  Bloomberg For Kia Motors Corp. Mexico’s historic car boom isn’t working out as planned. A dispute with a recently elected state leader may prevent the start of production next month at a northern Mexico car factory representing more than $1 billion in investment, Kia said on Tuesday. The plant is in the cross hairs of Nuevo Leon Governor Jaime Rodriguez, ...

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• 6 April

  Another Brazil state-run giant readies its own graft writedowns

  

  Bloomberg A year after Brazilian oil giant Petroleo Brasileiro SA took a writedown of $2.1 billion because of the sweeping corruption scandal known as Carwash, another state-run company is getting closer to reporting its own price tag from graft losses. The team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA has finished the bulk of its investigation to ...

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• 6 April

  ‘Libya government’ cements control after rival cedes power

  

  Tripoli / AFP Libya’s UN-backed unity government moved to cement control over the country’s finances and institutions on Wednesday after the rival administration in Tripoli ceded power in a boost to efforts to end years of chaos. The concession late Tuesday by the militia-backed administration that had controlled Tripoli since 2014 was a major about-turn for a body that had ...

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• 6 April

  Nigerian military opens camp to rehabilitate Boko Haram

  

  KANO/ AP Nigeria’s military has opened a camp to rehabilitate Boko Haram fighters who have surrendered and are repentant, according to a statement on Wednesday that urged other fighters to abandon the insurgency that has claimed 20,000 lives in six years. The military also said it has rescued 11,595 civilian hostages in attacks on Boko Haram camps and villages in ...

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• 6 April

  UK police arrest 2 over support for Turkish far-left group

  LONDON / AP British police say they have arrested a man and a woman on suspicion of terrorism offenses over suspected support for a far-left Turkish militant group. The Metropolitan Police says a 49-year-old man and 45-year-old woman were detained early Wednesday at two addresses in London. The man is suspected of disseminating a terrorist publication, while the woman was ...

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• 6 April

  Iraqi forces face resistance in IS-held town

  

  ANBAR / AFP Heavy resistance has slowed Iraqi forces as they pushed forward toward the center of a town held by IS militants in western Anbar province, commanders at the scene said. Hundreds of roadside bombs, car bombs and heavy mortar fire slowed advancing Iraqi troops to a near halt Tuesday after entering the small town of Hit the previous ...

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• 6 April

  Turkey to probe massive ‘personal data leak’

  Ankara/ AFP Turkey’s authorities launched a probe Wednesday into an alleged leak of the personal data of some 50 million citizens which threatens to compromise the information security of much of its population. The massive database—purportedly containing the names, identity numbers and addresses of those listed —was posted online by hackers earlier this week along with sharp jabs at the ...

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