March, 2016

• 12 March

  Nestle recall in US jolt for convenience meal revamp

  

  Bloomberg Nestle SA recalled 12 types of products under the DiGiorno, Lean Cuisine and Stouffer’s brands in the US because they may contain small pieces of glass, a setback for brands that the Swiss food company has been trying to revitalise. No injuries have been reported, according to the Vevey, Switzerland-based company, which announced the recall of a “limited” number ...

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• 12 March

  Ulta shares jump after forecast tops analysts’ estimates

  

  Bloomberg Ulta Salon, Cosmetics & Fragrance Inc. rallied the most since 2014 after its first-quarter forecast topped analysts’ estimates, helped by growing demand for beauty products. Earnings will be $1.25 to $1.30 a share in the period, the Bolingbrook, Illinois-based company said in a statement. Analysts’ had estimated $1.22 on average, according to data compiled by Bloomberg. The company, which ...

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• 12 March

  Casino’s Big C Vietnam stores all set to draw Lotte, TCC bids

  

  Bloomberg South Korea’s Lotte Group is among suitors that submitted bids for French retailer Casino Guichard-Perrachon SA’s Vietnam grocery business, which could fetch as much as $800 million, people with knowledge of the matter said. Billionaire Charoen Sirivadhanabhakdi’s TCC Holding Co. and Central Group, controlled by Thailand’s Chirathivat family, also submitted first-round offers by the March 10 deadline, the people ...

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• 12 March

  Buckeye pipeline leak doesn’t affect JFK jet-fuel supply

  

  Bloomberg A leak discovered on a Buckeye Pipe Line Company LP pipe that is the primary source of jet fuel for John F. Kennedy (JFK) International Airport hasn’t affected operations at the hub, according to the Port Authority of New York and New Jersey. “JFK has enough jet fuel for three days, so the airport is equipped to respond to ...

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• 12 March

  Altering levy: British banks slam UK Treasury

  

  LONDON / Bloomberg Britain’s banks have criticised the UK Treasury’s plan to pare back the scope of the bank levy to lenders’ domestic businesses only, warning international operations could still be subject to taxation after the changes. Under the government’s current proposal, funds raised at a UK holding company level and then passed down to an international subsidiary would continue ...

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• 12 March

  Oil crash: Azeri crisis depletes Central Bank

  

  BAKU / Bloomberg The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling. Every seventh lender is now shut, the currency is testing new lows and by one measure Azerbaijan’s international reserves are as thin as Ukraine’s. The central bank has little to ...

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• 12 March

  China bank lending dips in February despite loosening

  

  Beijing / AFP China’s bank loans plunged in February from January, the central bank said, despite government efforts to encourage lending to keep the world’s second-largest economy from slowing. New loans extended by banks slid to 726.6 billion yuan ($112 billion), the People’s Bank of China said, a massive drop from January’s record 2.51 trillion yuan lending surge. The figure ...

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• 12 March

  Gazprom banks on Swiss for first Russia Eurobond in 2016

  

  BLOOMBERG Gazprom PJSC, the natural-gas export monopoly, has hired banks to organise a sale of Swiss-franc debt in what could be the first Eurobond deal out of Russia this year. Europe’s biggest gas supplier picked Deutsche Bank AG, Gazprombank JSC and UBS Group AG as joint lead managers and Renaissance Capital as a co-manager for investor update meetings in Geneva ...

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• 12 March

  Deutsche sees 2016 industry-wide trading revenue drop

  

  FRANKFURT / Bloomberg Deutsche Bank AG, which runs Europe’s biggest investment bank, said it expects the industry’s revenue to decline this year as clients consider pulling back from trading some fixed-income securities and refrain from doing deals. Securities firms will see debt trading revenue fall “slightly” from a year earlier as “an increase in macro revenues due to monetary policy ...

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• 12 March

  Poor man’s gold may get more investor love

  

  Bloomberg Silver hasn’t been so cheap relative to gold for more than seven years and with mine supplies forecast to contract this year that may be a sign it’s ready to come out of the yellow metal’s shadow. Mine production of silver will probably drop in 2016 for the first time in over a decade and demand is set to ...

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