August, 2018

• 25 August

  Toys ‘R’ Us secured lenders reject paying for worker severance

  

  Bloomberg The private equity owners of Toys ‘R’ Us may be taking unprecedented steps towards supporting the company’s former workers, but the lenders that financed its bankruptcy — and ultimate liquidation — are making no such promises. Angelo Gordon & Co. LP and Solus Alternative Asset Management don’t plan to contribute any more cash to benefit Toys ‘R’ Us employees …

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• 18 August

  Gulf Air receives first A320neo

  

  Bahrain/ Emirates Business Gulf Air, the flag carrier of the Kingdom of Bahrain, took delivery of its first A320neo. The aircraft, powered by CFM LEAP-1A engines, made its maiden journey from Toulouse to Bahrain, landing at the Bahrain International Airport at 16:00 local time. The aircraft is the first of the 29 A320neo Family aircraft ordered during the 2016 Bahrain …

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• 18 August

  Diabetes monitoring: Legal war over patent escalates

  

  Bloomberg Diabetes treatment has evolved since Mary Fortune was diagnosed in 1967 and hospitalised because there was no reliable way monitor her blood sugar. These days, a glucose skin patch transmits her levels day and night to her iPhone and shares the data with others. Fortune and other diabetics are benefiting from an explosion in technology and innovation, from under-the-skin …

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• 18 August

  Best Buy to buy senior-focussed device maker in $800mn deal

  

  Bloomberg Best Buy Co. is going after Grandma. The electronics retailer agreed to pay $800 million to acquire GreatCall Inc., a provider of smartphones and emergency-response systems for seniors, broadening its push into the burgeoning market for connected-home products and services. The deal, which should close by the end of the third quarter, will boost adjusted earnings by 2020, Best …

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• 18 August

  Walmart eyes VR shopping system, say patent filings

  

  Bloomberg Trekking through a crowded, cavernous Walmart supercenter isn’t much fun. But what if you could do it from the comfort of your own home through virtual reality? The world’s biggest retailer wants to find out, according to filings with the US Patent and Trademark Office. The company has applied for two patents that detail a “virtual show room” and …

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• 18 August

  Rolls adds own battery-powered ship engines

  Bloomberg Rolls-Royce Holdings Plc has begun offering its own battery-powered ship engines in a move that signals the gathering momentum behind a push towards hybrid and ultimately all-electric vessels. While maritime demand for lithium-ion batteries is focused on providing top-up power for traditional diesel and gas-turbine ships, the technology could propel fully electric craft over a limited range, according to …

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• 18 August

  Australian dollar’s tumble not enough to satisfy RBA

  

  Bloomberg Australian central bank chief Philip Lowe said he’d still like to see the nation’s currency weaken further and sees interest rates remaining at a record low “for a while yet.” “It is likely to be some time before we are at full employment and the inflation rate is comfortably within the target range on a sustained basis,” Lowe said …

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• 18 August

  Barclays hires CFO of Berlin’s tech star to run Germany operations

  

  Bloomberg Barclays Plc has tapped Rocket Internet SE’s chief financial officer to lead its German operations, according to people with knowledge of the matter. The British bank will soon name Peter Kimpel as head of Germany as early as next week, the people said, asking not to be identified discussing private information. He will fill a post that’s been vacant …

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• 18 August

  RBS taps Katie Murray as interim CFO as Ewen Stevenson preps exit

  

  Bloomberg Royal Bank of Scotland Group Plc tapped Katie Murray to be its interim chief financial officer as Ewen Stevenson prepares to leave the state-controlled lender and step down from the board. Murray, who is currently deputy CFO and one of a handful of women in the City of London in a senior finance role, will take the position in …

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• 18 August

  Bloody unrest cripples Nicaragua growth as banks’ money drained

  

  Bloomberg Economic growth in Nicaragua, once a top performer in the region, will slow to a crawl this year after months of violent chaos left hundreds dead and paralysed business activity. The $13.7 billion economy will expand just 1 percent this year in an “optimistic scenario” compared with an original forecast of 5 percent, Central Bank Chief Ovidio Reyes said …

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