August, 2021

• 14 August

  Credit Suisse adds risk veterans to board with UBS, Lloyds alums

  

  Bloomberg Credit Suisse Group AG nominated former UBS AG executive Axel Lehmann to head the board of directors’ risk committee and the ex-chief risk officer at Lloyd’s Banking Group Juan Colombas for a seat on the board, in the latest effort to reinforce the bank’s management team. The proposals will be put before an extraordinary shareholders meeting set for October ...

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• 14 August

  National Bank names Laurent Ferreira CEO

  

  Bloomberg National Bank of Canada Chief Executive Officer Louis Vachon is stepping down after 14 years and will be succeeded by Laurent Ferreira atop the country’s sixth-largest bank. Ferreira, 50, who was promoted to chief operating officer in February, will take over as CEO on November 1, the Montreal-based lender said. Since taking the reins in 2007, Vachon, 59, helped ...

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• 14 August

  BofA ups junior pay again to $100,000 to retain talent

  

  Bloomberg Bank of America Corp is boosting base salaries again, lifting pay for junior bankers across the firm to $100,000 from $95,000 in a bid to remain competitive in the war for young talent on Wall Street. The company will pay that amount to first-year analysts in the global corporate and investment-banking, global-markets and global-research divisions, according to a person ...

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• 14 August

  Ford fires back at GM, seeks to rescind ‘cruise’ trademark

  

  Bloomberg Ford Motor Co, firing back at a lawsuit filed by General Motors Co, is asking the US government to strip GM of its trademark for “Super Cruise,” the name of its hands-free driving feature, and “Cruise,” the name of its self-driving affiliate Cruise LLC. Ford is asking the US Patent and Trademark Office to rescind the trademarks so “the ...

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• 14 August

  Apple told to pay $300m after wireless patent retrial

  

  Bloomberg Apple Inc was told to pay $300 million in royalties after a retrial in a patent dispute over wireless technology used in its iPhones and other products, part of a global fight with a company that says it owns patents on the LTE cellular standard. The jury in Marshall, Texas, said PanOptis Patent Management and its Optis Cellular and ...

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• 14 August

  Sonos wins first round in patent case against Google at ITC

  

  Bloomberg Sonos Inc shares jumped as the wireless audio company came one step closer to winning a global battle with Alphabet Inc’s Google when a US trade judge found the search giant infringes five Sonos patents — a decision that could shut some Google smart home devices, phones and laptops out of the US market. US International Trade Commission Judge ...

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• 14 August

  EV-charging firm agrees to SPAC deal

  Bloomberg An electric-vehicle charging startup that powers Amazon.com Inc’s delivery vans in the UK has agreed to merge with a US blank-check firm and go public late this year. The transaction between EO Charging and First Reserve Sustainable Growth Corp will imply a combined enterprise value of $675 million, the companies said. The deal will net EO more than $150 ...

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• 12 August

  ‘Youth are the engine that drives development across all sectors’

  

  Dubai / WAM Mariam Hareb Almheiri, Minister of State for Food Security, affirmed that youth are the engine that drives development across all sectors and the main contributor to progress and development. In a statement marking the International Youth Day, Almheiri said that this year’s theme “Transforming Food Systems: Youth Innovation for Human and Planetary Health” highlights the pivotal role ...

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• 12 August

  Taqa’s H1 profit hits AED2.9b

  

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) reported a net income of AED2.9 billion for the period ended 30th June, 2021, an increase of AED2.4 billion, with a significantly higher contribution from the Oil and Gas segment and the fact that Q1 2020 was reduced by an AED1.5 billion post-tax impairment charge. Taqa, a diversified utilities and ...

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• 12 August

  Seha announces working hours during Islamic new year holiday

  ABU DHABI / WAM Abu Dhabi Health Services Company, (Seha), the UAE’s largest healthcare network, has announced its operational hours during the Islamic new year holiday, observed on August 12. Seha announced the Seha Covid-19 drive-through service centres in Abu Dhabi, Al Ain and the Northern Emirates will operate on Thursday, from 10:00 to 20:00. The SEHA Covid-19 Vaccination centres ...

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