October, 2019

• 5 October

  Brexit complicates EU money-laundering fight

  

  Bloomberg The UK’s withdrawal from the European Union is complicating the bloc’s fight against money laundering in the financial system, according to EU authorities. Firms relocating from Britain could overwhelm the national bodies that supervise anti-money laundering systems, the three EU financial regulators said in a joint report. A no-deal Brexit would make things even more difficult by disrupting the ...

  Read More »
• 5 October

  Vista mulls sale of stake in $10bn fintech giant

  Bloomberg Vista Equity Partners is considering the potential sale of a stake in Finastra in a deal that could value the financial technology company at more than $10 billion including debt, people familiar with the matter said. Billionaire Robert F Smith’s buyout firm is working with Goldman Sachs Group Inc to gauge interest from potential buyers, according to the people, ...

  Read More »
• 5 October

  Colombia isn’t mulling FX intervention: Banker

  Bloomberg Colombia’s central bank isn’t discussing taking measures to ease declines in the peso, even as the currency hit a record-low earlier this week, according to one member of the monetary policy committee. The peso has plunged 7.5 percent in the past three months, making it the worst performing emerging market currency after the Argentine peso, amid slowing global growth, ...

  Read More »
• 5 October

  Coinbase resumes UK fast payments post Barclays breakdown

  

  Bloomberg US cryptocurrency exchange Coinbase Inc has a new banking partner in Britain that will provide real-time payments for customers, three months after losing the service when it broke with Barclays Plc. The San Francisco-based firm, which lost its Barclays account in July, is now a client of ClearBank, a lender that started operations in 2017, according to a person ...

  Read More »
• 5 October

  India’s Bharti Airtel to test bond buyer views on debt cut push

  

  Bloomberg International bond investors may get a chance in coming days to weigh in on Indian wireless carrier Bharti Airtel Ltd’s efforts to pare debt, with market signs indicating enthusiasm for the push. The wireless carrier is planning to sell a dollar perpetual bond — debt with no set maturity — as early as October 8, according to a person ...

  Read More »
• 5 October

  Tata Steel weighs sale of stake in e-comm venture

  

  Bloomberg Tata Steel Ltd is weighing a sale of its stake in an e-commerce joint venture as India’s largest steel manufacturer looks to offload non-core assets to pare debt, people with knowledge of the matter said. The company is working with advisers on a potential sale of its 50 percent stake in mjunction Services Ltd, an online marketplace for commodities ...

  Read More »
• 5 October

  India’s Patanjali ratings downgraded

  Bloomberg An Indian credit ratings company cut Patanjali Ayurved by two levels, citing a likely weakening of its financial position as it partly funds a merger with a maker of soya products. Care Ratings downgraded Patanjali’s long-term bank facilities to A- from A+, according to a statement. Care and Brickwork Ratings cut the company’s outlook to negative from stable. Patanjali ...

  Read More »
• 5 October

  US tech giants turn to India for new apps before world release

  

  Bloomberg India is emerging as the testing and acquisition playground for global consumer technology companies, especially the so-called FAANGs, according to a veteran internet analyst. RBC Capital Markets’ Mark Mahaney, who calls himself Wall Street’s “oldest internet analyst” after covering the sector for more than two decades, said India is now more popular than markets like China because it has ...

  Read More »
• 5 October

  Sony slashes price of PlayStation Now video game service in half

  

  Bloomberg Sony Corp cut the price of its PlayStation Now video-game service in half, to $9.99 a month, a reflection of the increasing competition in online offerings. The industry leader in video games said it’s also adding limited runs of top-selling titles to the service, such as Take-Two Interactive Software Inc’s Grand Theft Auto V, and launching the first global ...

  Read More »
• 5 October

  China soy-buying may signal prudence before US talks

  

  Bloomberg Chinese firms have been snapping up US soybeans, but don’t mistake this as a sign of buyer confidence in upcoming trade talks. The companies, which received a fresh 2 million-ton quota from Beijing to import American beans free of retaliatory tariffs, have been seeking soy every day so far. That’s likely because they want to rush through orders in ...

  Read More »