May, 2018

• 15 May

  Robots challenge banks in Sweden’s $524bn savings market

  

  Bloomberg After being challenged in the mortgage market, Sweden’s biggest banks are fending off a new wave of robots — this time in investment advice and wealth management. One of their new rivals is Optise AB, which last year began offering independent savings advice, fund data and tailor-made portfolios to retail investors via a mobile app. The company, which refers …

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• 15 May

  Ethiopian Air seeks to dominate Africa with new carriers, jet deal

  

  Bloomberg Ethiopian Airlines Enterprise plans to establish half a dozen international offshoots before the end of the year as Africa’s biggest carrier steps up efforts to dominate markets across the continent. Ethiopian will take equity stakes in new operators in Zambia, Chad, Mozambique and Gambia while helping to manage existing carriers in Equatorial Guinea and the Democratic Republic of Congo, …

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• 15 May

  Belle mulls sportswear IPO after $7bn buyout

  

  Bloomberg The private equity owners of Belle International Holdings Ltd., the biggest women’s shoe retailer in China, are considering a spinoff of its sportswear distribution business, people with knowledge of the matter said. Hillhouse Capital and CDH Investments, which took Belle private in a $6.8 billion deal completed in July, are weighing a Hong Kong initial public offering of the …

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• 15 May

  Air France-KLM names interim CEO to end strikes

  

  Bloomberg Air France-KLM named finance chief Frederic Gagey as interim CEO to replace Jean-Marc Janaillac, who quit after failing to end a series of strikes that have roiled the airline’s French arm since February. Board member and a former deputy French minister Anne-Marie Couderc will become interim non-executive chairman, according to a statement. The carrier is setting up a three-member …

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• 15 May

  Sichuan’s cockpit window breaks at 32,000 feet

  

  Bloomberg A cockpit windshield on a Sichuan Airlines jet shattered while the plane was cruising at 32,000 feet, a rare incident that hurt the co-pilot and forced an emergency landing of the Airbus SE plane in southwestern China. The Civil Aviation Administration of China is investigating the Monday incident and will focus on the design and manufacturing of the windshield, …

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• 15 May

  Walmart, Home Depot, Macy’s earnings to give new pulse on retail

  

  Bloomberg Investors will get some big insight into big retail this week. Several of the largest consumer-facing companies report results for the first quarter — the three months immediately following the critical holiday season that sets the stage for the rest of the year. Walmart Inc., Home Depot Inc. and Macy’s Inc. are three of the major chains scheduled to …

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• 14 May

  UAE, India discuss bilateral cooperation

  NEW DELHI / WAM Dr Ahmed Abdul Rahman Al-Banna, UAE Ambassador to India, met with Shri M J Akbar, Minister of State for External Affairs of India, and discussed bilateral cooperation to ensure and provide an enabling environment to support the development of both countries. During the meeting, Dr Al-Banna and Akbar emphasised their commitment to further strengthening bilateral cooperation …

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• 14 May

  US stocks rise as trade tensions ease, Treasuries edge back 3%

  

  Bloomberg US stocks edged higher as trade tensions between the world’s two biggest economies showed signs of abating. The dollar slipped and the 10-year Treasury yield pushed towards 3 percent. The S&P 500 Index climbed as technology shares paced gains after President Donald Trump made a major reversal on an earlier move to block telecom equipment maker ZTE Corp. from …

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• 14 May

  Exit polls vex stocks, rupee as majority seen eluding Indian PM

  

  Bloomberg India’s equities gave up gains to close little changed, while the rupee and bonds declined Monday as exit polls signaled that majority may prove elusive for PM Narendra Modi’s BJP in elections in a key southern state. At least four polls, including Today’s Chanakya, which accurately predicted Modi’s victory in 2014 elections, showed the BJP as the single largest …

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• 14 May

  Tata Power plans $5bn push to boost renewable capacity

  

  Bloomberg Tata Power Co., one of India’s largest private power utilities, is planning to invest as much as $5 billion to ramp up its renewable capacity fourfold, according to its top executive. The 103-year-old power utility plans to increase its clean-energy capacity to 12,000 megawatts by 2028, Chief Executive Officer Praveer Sinha said. That would require an investment of as …

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