February, 2019

• 23 February

  Zambia cuts power from world’s biggest man-made reservoir

  

  Bloomberg Zambia has reduced hydropower production at the Kariba Dam because of rapidly declining water levels at the world’s biggest man-made reservoir that straddles the border with Zimbabwe, the energy minister said. “We have noted the poor water situation for the Za-mbezi system nec- essitating reduction in generation at Kariba,” Mat-thew Nkhuwa sa-id, without provi- ding further details. Water outflows …

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• 23 February

  ‘Singapore has a better Bali on its doorstep’

  

  Bloomberg Singapore’s second-largest developer has a suggestion for the government: re-position the billionaire enclave of Sentosa as a tourism hot-spot like Bali. Property values at Sentosa Cove, a residential area nestled on a tiny island off the south coast, have been hit particularly hard, with home prices down about 30 percent from the highs seen in 2010. Even as the …

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• 23 February

  A phone that turns into a tablet!

  

  Bloomberg Samsung Electronics Co. unveiled a $1,980 smartphone with a foldable screen, a dramatic shift in the mass market for phones. The device has a 4.6-inch screen when used as a phone and can unfold into a tablet with a 7.3-inch screen, Samsung said during a demonstration kicking off its Unpacked event in San Francisco. The company said the new …

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• 23 February

  Apple to combine iPhone, iPad, Mac apps

  

  Bloomberg Apple Inc. wants to make it easier for software coders to create tools, games and other applications for its main devices in one fell swoop — an overhaul designed to encourage app development and, ultimately, boost revenue. The aim of the multistep initiative, code-named “Marzipan,” is that by 2021, developers will be able to build an app once and …

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• 23 February

  China not holding gaming approvals, says NetEase

  

  Bloomberg NetEase Inc. dismissed reports China is holding up gaming approvals as it untangles a huge backlog, saying the company is closing in on the release of Diablo Immortal for the world’s top gaming market. Chief Financial Officer Yang Zhaoxuan told analysts that select regulatory agencies are tweaking the process through which developers seek approval to make money off titles, …

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• 23 February

  Airstream adds smart app controls, retains retro appeal

  

  Bloomberg Airstream—the maker of bullet-shaped, aluminum-clad trailers—finally has some contemporary technology to go with its Jetsons aesthetic. The brand from RV giant Thor Industries is introducing a new app for controlling its campers, from AC to lights. “It’s effectively a blend of a smart home and a connected vehicle,” said McKay Featherstone, Airstream’s vice president of product development. “We’re trying …

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• 23 February

  Fed leans towards shortening maturity of Treasury holdings

  

  Bloomberg Federal Reserve policy makers look to be leaning towards shortening the average maturity of their holdings of Treasury securities once they complete normalization of the balance sheet later this year. Fed Vice Chairman for Supervision Randal Quarles and Cleveland Federal Reserve Bank President Loretta Mester both said this week they would favor such a move, while also noting that …

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• 23 February

  Natixis examined risk executive’s share sale

  

  Bloomberg Officials at one of France’s biggest lenders have moved to quell internal concerns about a stock disposal by its chief risk officer just one month before the bank disclosed a large trading loss, people familiar with the matter said. Senior officials at Natixis SA addressed employees’ questions about the trade at a series of meetings this month, according to …

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• 23 February

  EU helps protect sovereignty in globalised world: Draghi

  Bloomberg European Central Bank President Mario Draghi launched into a defense of the European Union project as a way for countries to protect their sovereignty in an increasingly uncertain global environment. Speaking at a time when the EU is grappling with Brexit and rising populism, Draghi said the trading bloc’s institutional framework has allo- wed its members to be free …

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• 23 February

  SocGen weighs investment bank job cuts

  

  Bloomberg Societe Generale SA is drawing up plans to cut jobs at its investment bank and find a partner for its cash-equity business in a bid to offset increasing cost pressure from regulation, people familiar with the matter said. The bank could cut hundreds or even thousands of jobs at its global banking and investor solutions unit, including roles in …

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