July, 2017

• 8 July

  Chip firm Rambus works with adviser to pursue sale

  

  Bloomberg Rambus Inc., a chip designer with a lengthy history of patent litigation, is considering a sale even as it has expanded its business to include sales of its own branded chips, people familiar with the matter said. The Sunnyvale, California-based company is working with a financial adviser to evaluate sale options and seek potential suitors, the people said, asking …

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• 8 July

  Waymo drops most patent claims in car tech fight with Uber

  

  Bloomberg Waymo, Alphabet Inc.’s self-driving car division, dropped three of four patent-infringement claims in its lawsuit against Uber Technologies Inc. over the startup’s autonomous vehicle program. Waymo’s decision to include patent claims in its complaint against Uber was a surprise move for Google parent Alphabet, which normally prides itself on limiting patent fights. The bulk of Waymo’s case is not …

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• 8 July

  Chinese bank giants lose $15 billion on share rout

  

  Bloomberg Investors couldn’t sell Chinese banking giants fast enough this week. Industrial & Commercial Bank of China Ltd. (ICBC), Agricultural Bank of China Ltd. (ABC) and Bank of China Ltd. (BOC) posted their worst weeks since at least June 2016, while China Construction Bank Corp. (CCB) fell for a fifth consecutive week. The lenders were among the biggest decliners on …

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• 8 July

  ECB officials differ over stimulus plan

  

  Bloomberg European Central Bank (ECB) policy makers continued to air their differences over when to rein in stimulus, sending conflicting signals on whether pumping cash into the economy for much longer will help the euro area or hurt it. “Underlying inflationary pressure remains subdued” and “we still need a long period of accommodative policy,” Executive Board member Peter Praet, the …

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• 8 July

  Deutsche Bank’s London trading heart faces long carve-out

  

  Bloomberg For the better part of this century, Deutsche Bank’s trading heart has been beating in London. Now, it’s gradually being transplanted to Frankfurt. Europe’s largest securities firm is preparing to turn Frankfurt into its global booking center, a shift that may entail moving large parts of the trading and investment-banking assets it currently books in London to its hometown, …

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• 8 July

  RBS exits Chinese securities venture in $52 million sale

  

  Bloomberg Royal Bank of Scotland Group (RBS) will sell its stake in a Chinese securities joint venture to Guolian Securities Co. for 354 million yuan ($52 million), becoming the latest foreign bank to leave its mainland partnership. The Edinburgh-based bank bought the 33.3 percent of Hua Ying Securities Co. for 266.4 million yuan and will sell it at 1.2 times …

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• 8 July

  Cerberus weighs Commerzbank stake in bank push

  Bloomberg Cerberus Capital Management is weighing a plan to purchase a stake in Commerzbank AG as the U.S. buyout firm seeks to add investments in European lenders, according to people familiar with the matter. Cerberus is considering building a minority stake by buying shares in the German bank on the market, the people said, asking not to be identified because …

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• 8 July

  Bank of Canada witnesses strongest business outlook

  

  Bloomberg Canadian business leaders reported the strongest outlook since 2011 including record hiring plans, according to a central bank survey. The overall Business Outlook Survey Indicator — an aggregate gauge — measured 2.81, up from 0.73 in the last report, according to the Bank of Canada’s quarterly Business Outlook Survey published in Ottawa. Results for nearly all survey questions were …

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• 8 July

  Buying Air India will bolster overseas network: IndiGo

  

  Bloomberg IndiGo, the only carrier that has made a pitch to purchase Air India Ltd., sought to allay investor concerns about the budget operator buying the unprofitable national carrier, saying a deal would help speed up its plans for low-cost, long-distance flights. Spelling out the rationale for their interest in the highly indebted airline in a conference call with analysts, …

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• 8 July

  Airbus A350-1000 completes hot weather test at Al Ain airport

  

  Al Ain / emirates business The A350-1000 test aircraft, MSN065, successfully completed the hot weather tests at the Al Ain International airport. The tests which took place from July 4-7, involved the aircraft undergo extreme weather conditions at temperatures above 40 degrees Celsius. The objective of the tests is to check systems behaviour with a focus on the cabin, including …

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