March, 2017

• 8 March

  Etisalat Nigeria in talks over missed payments on $1.2 billion loans

  

    LAGOS / Reuters Etisalat’s Nigerian affiliate is in talks with local banks to renegotiate a $1.2 billion loan it took out four years ago to expand its network in the country after it missed payments, a senior executive told Reuters. Ibrahim Dikko, vice president for regulatory affairs at Etisalat Nigeria, said Etisalat missed payments due to an economic downturn …

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• 8 March

  New Adidas CEO plans fast-fashion focus to catch up to Nike

  

    Bloomberg Adidas AG’s new chief executive officer is doubling down on surging sales of casual sneaker lines like Stan Smith and Tubular to transform the German sportswear maker into a fast-fashion business and gain ground on larger rival Nike Inc. Sales of so-called lifestyle products from the Originals, Neo and Y3 lines rose 45 percent in 2016, more than …

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• 8 March

  Credit Agricole weighs $2.4bn Saudi stake sale

  

    Bloomberg Credit Agricole SA, France’s third-largest bank by market value, is considering a sale of its 31 percent stake in Saudi Arabian lender Banque Saudi Fransi, in a deal that could potentially fetch about $2.4 billion, according to people familiar with the matter. The shares fell on concern a disposal may hit operating profit. The bank is speaking to …

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• 8 March

  Monte Paschi seeks fast sale of bad debt after EU consent

  

    Bloomberg Banca Monte dei Paschi di Siena SpA wants an accelerated sale process of about 28 billion euros ($29.6 billion) of bad loans to start as soon as European authorities approve its new business proposal, according to people familiar with the matter. Monte Paschi intends to sell all of the loans in a single block and it will only …

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• 8 March

  No need to play God on inflation, Kenyan Central banker says

  

    Bloomberg There’s no point speculating whether rains expected this month will begin on time to help tame inflation that’s accelerated to five-year highs on spiraling food prices, Central Bank of Kenya Governor Patrick Njoroge said. “Nobody knows if the long rains will come in time, and be adequate,” he said on Tuesday in an interview in London. “Last time …

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• 8 March

  3 new deputies to run retail bank at Wells Fargo

    Bloomberg Wells Fargo & Co. community banking head Mary Mack is seeking three new deputies and shaking up regional leadership of the division she inherited after a bogus-account scandal. Mack announced the moves in an internal memo, saying she’s looking for candidates within the bank and externally for a trio of senior posts focusing on strategy, customer experience and …

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• 8 March

  Rising European bank deposits wind up at ECB

  

    Bloomberg Banks in the euro zone, flush with new deposits, have turned few of them into loans to companies and consumers. Instead they’ve parked most of the money at the European Central Bank, where they’re paying billions of euros for the privilege of keeping it there. Since June 2014, when the ECB cut rates below zero, deposits at euro-zone …

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• 8 March

  ‘CIA hacks into devices from IPhones to smart TVs’

  

    Bloomberg The Central Intelligence Agency’s hackers have developed tools letting them break into devices from iPhones and Android phones to Samsung “smart” televisions to monitor conversations and messages, according to WikiLeaks. WikiLeaks, which specializes in disclosing government secrets, posted 8,761 documents and files on Tuesday that it said came from the CIA’s Center for Cyber Intelligence. The trove, if …

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• 8 March

  Alphabet’s Nest to work on cheaper thermostat

    Bloomberg Alphabet Inc.’s Nest, seeking a bigger share of the connected home market, is developing a cheaper version of its flagship thermostat and new home security products, according to a person familiar with the matter. The company is working on a version of its “learning thermostat,” which adjusts the temperature based on usage patterns, that would sell for under …

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• 8 March

  Samsung teases release of Galaxy S8 smartphones

  

    Bloomberg Samsung Electronics Co. teased its coming Galaxy S8 smartphone and released new tablets targeting video-gamers and professionals as the company seeks to regain ground lost after pulling its Note 7 from shelves last year. The Galaxy Tab S3, meant for entertainment, has a 9.7-inch Amoled screen, quad-stereo speakers and lets users play 4K video, Samsung said at the …

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