October, 2019

• 19 October

  UBS’ Singapore dealmaker set to join iSTOX

  Bloomberg UBS Group AG’s Singapore investment banking chief Oi Yee Choo is set to join iSTOX, a trading platform backed by Temasek Holdings Pte. Choo will join iSTOX in January as its chief commercial officer and will help drive business growth by building its network of investors and issuers, according to a statement from the company, confirming an earlier Bloomberg ...

  Read More »
• 19 October

  How US-China trade war could hit financial system

  

  Since the beginning of the trade war between China and the US, most economists have warned that rising protectionism would trigger an economic slowdown. A few years into this conflict, the evidence suggests that a deceleration is indeed taking place. This week, the International Monetary Fund (IMF) warned that global growth will fall to 3% this year, the lowest rate ...

  Read More »
• 19 October

  Boeing finds itself in a fresh pickle

  

  Stick a pickle fork in Boeing Co.’s hopes of getting past its 737 drama anytime soon. The Federal Aviation Administration (FAA) has required urgent inspections of certain 737 Next Generation planes — the predecessor to the troubled 737 Max — after Boeing reported cracks in a part called the “pickle fork” on jets being overhauled in China. The pickle fork ...

  Read More »
• 19 October

  Puerto Rico needs more than debt restructuring

  

  Arriving in the midst of hurricane season, Puerto Rico’s new debt restructuring plan is a small ray of sunshine. But even if the proposal prevails in court — a big “if” — the territory’s prospects aren’t bright. With its obligations reduced, Puerto Rico will still outstrip every US state in per capita debt. Hopes for a lasting recovery will continue ...

  Read More »
• 19 October

  Sanctions can still work. Here’s how

  Do economic sanctions serve US policy objectives? An important new report from the Government Accountability Office raises the question, but supplies an unsatisfactory answer: Although the departments of Treasury, State and Commerce all pay close attention to the impact of specific sanctions on their targets, there’s no reliable way to assess whether — or even to what extent — broader ...

  Read More »
• 19 October

  Son, SoftBank risk too much with takeover of WeWork

  

  Masayoshi Son could be on track for the biggest triumph of his career. Or the biggest failure. His decision to jump in and save a drowning unicorn, WeWork, goes against the precepts of the SoftBank Vision Fund that he founded, and could cause reputational damage worth more than the billions of dollars in this one deal. SoftBank Group Corp. may ...

  Read More »
• 19 October

  A railroad’s earnings win isn’t an all-clear

  

  CSX Corp.’s results were better than many feared they would be, but they came at the expense of several hundred jobs. The railroad said third-quarter revenue declined 5% as the uncertainty wrought by the trade war and a slump in coal shipments weighed on cargo volumes. Even so, CSX’s earnings per share for the period beat analysts’ estimates and its ...

  Read More »
• 19 October

  Bank of America’s future is digital, and it’s now

  

  Bank of America Corp. likes to brag about its online and mobile banking capabilities. Just as it did at this time last year, the bank last week trumpeted its “leadership in high-tech” in its third-quarter earnings news release and boasted that it’s “No. 1 in mobile banking, online banking and digital sales functionality,” citing accolades from J.D. Power, Javelin and ...

  Read More »
• 16 October

  Adnoc, Russia’s REA ink pact across oil, gas value chain

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), signed on Wednesday a comprehensive strategic framework agreement with the Federal State Budgetary Organisation “Russian Energy Agency” by the Ministry of Energy of the Russian Federation (REA), to explore new opportunities for collaboration across the oil and gas value chain. The agreement highlights the strength of the UAE-Russia bilateral ...

  Read More »
• 16 October

  Mubadala, RDIF announce six new cooperation pacts

  

  ABU DHABI / WAM UAE sovereign investor Mubadala Investment Company, and Russia’s sovereign wealth fund – the Russian Direct Investment Fund (RDIF) – have announced a series of six cooperation agreements as part of their successful long-term investment partnership that began in 2013. The agreements were announced following the official visit of Russian President Vladimir Putin to the UAE. More ...

  Read More »