August, 2018

• 25 August

  Enbridge to buy Spectra partners in $3.3bn deal

  

  Bloomberg Pipeline giant Enbridge Inc. agreed to buy all outstanding shares of Spectra Energy Partners LP in a deal aimed at streamlining its corporate structure in the wake of US tax changes. The agreement to acquire its master limited partnership is valued at $3.3 billion, based on the closing price of Enbridge shares in New York trading. It follows by …

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• 25 August

  Exxon to seek wind, solar power delivery in Texas

  Bloomberg Exxon Mobil Corp. has been looking to buy renewable energy for delivery in Texas, according to people familiar with the matter. The largest US oil company sent out a request for proposals with a June 8 deadline, inviting solar or wind power suppliers to pitch contracts that would last 12, 15 or 20 years, according to a document obtained …

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• 25 August

  China Three Gorges gets nod for 400mw offshore wind farm

  Bloomberg China Three Gorges New Energy Co., a state-owned clean energy developer, received approval to build a 400 megawatt offshore wind farm in the nation’s southern province of Guangdong. The Yangjiang project will include 73 turbines with a capacity of 5.5 megawatts each, the company said in a statement on its website. The farm is expected to generate 1.49 billion …

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• 25 August

  ECB’s hunt for new watchdog starts with Ireland’s Donnery

  

  Bloomberg The European Central Bank’s (ECB) search for a new watchdog to oversee one of the world’s biggest banking systems has its first candidate: the Irish central bank’s deputy governor, Sharon Donnery. Irish Finance Minister Paschal Donohoe confirmed Donnery’s application, the day submissions to lead the Single Supervisory Mechanism (SSM) were due to close, saying that she’s an “exceptional candidate.” …

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• 25 August

  UniCredit gains on ‘SocGen merger deal’

  

  Bloomberg UniCredit SpA, Italy’s biggest bank, climbed in Milan trading after a report that it had hired an adviser for a possible merger with France’s Societe Generale SA, a deal rumored already two years ago. Talks between the lenders to study integration and acquisition possibilities have been continuing, Italian financial newspaper MF reported, without citing anyone. UniCredit appointed Daniel Bouton, …

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• 25 August

  National Australia, Commonwealth Bank may face criminal charges over ‘breaches’

  

  Bloomberg National Australia Bank Ltd. and Commonwealth Bank of Australia may face criminal charges over multiple breaches of the law in their treatment of pension customers, an inquiry into misconduct in the financial industry has been told. The two lenders faced particular criticism in a 200-page closing statement by counsel assisting the inquiry Michael Hodge following 10 days of evidence …

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• 25 August

  Managers at UK TSB arm to step down

  

  Bloomberg Three senior executives at Banco de Sabadell SA’s British unit will step down in an overhaul that the bank said is unrelated to the meltdown of its IT system earlier this year. The UK arm, known as TSB Banking Group, will see Treasurer Ian Firth, Chief Marketing Officer Nigel Gilbert and Human Resources Director Rachel Lock retire in the …

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• 25 August

  Mizuho chases riskier clients overseas, trying to revive profit

  

  Bloomberg Mizuho Financial Group Inc. is becoming more aggressive in chasing riskier clients outside Japan as it seeks to reverse the recent decline in its full-year profit, according to Chief Executive Officer Tatsufumi Sakai. The Tokyo-based lender may have been a “little conservative” in adjusting its asset profile towards non-investment grade assets overseas and away from lower-margin clients, Sakai said. …

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• 25 August

  Nikon takes on Sony with mirrorless camera

  

  Bloomberg Nikon Corp. unveiled its first full-frame mirrorless cameras, seeking to make up lost ground against Sony Corp. in the professional photography market. The new Nikon Z7 and Z6 devices will feature new lenses and lens mount, and will be lighter than the current pro-grade cameras, the company said. The 440,000 yen ($4,000) Z7, which will have a 45.7 megapixel …

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• 25 August

  VW gets really serious about tech acquisitions

  

  Bloomberg Volkswagen AG mapped out details of its transformation from a mass manufacturer of cars to a provider of transportation services by unveiling a car-sharing service and promising digital acquisitions as part of a $4 billion push into next-generation automobiles. The plan will kick off in Berlin, where the manufacturer will put 2,000 all-electric vehicles on the road by the …

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