October, 2019

• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 5 October

  The ideology of climate change denial in the US

  

  More people are coming around to the idea that climate change is really bad news. A recent Washington Post poll found that 38% of Americans now consider climate change a crisis, with another 38% calling it a major problem. And denialism is in retreat — an overwhelming majority, and even 60% of Republicans, admit that the problem is manmade. The ...

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• 5 October

  China won’t save world economy

  

  US recession indicators are growing stronger and there’s one bigger-than-usual reason why the world should be worried: China isn’t coming to the rescue this time. In the past week alone, a gauge of US manufacturing unexpectedly fell to its weakest reading in a decade and payrolls at private companies grew less than forecast. Economists are starting to wonder whether the ...

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• 5 October

  Metro Bank pays an awful lot just to keep going

  Metro Bank Plc, the upstart UK lender, evidently has little other option than to enter the last-chance saloon. The first company in more than a century to go head-to-head with Britain’s big four banks is struggling to recover from an accounting error (underestimating the risk on some loans) , which led to a sell-off in its shares. Confidence was undermined ...

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