January, 2017

• 18 January

  Rokke’s Aker weighs sale of its Norway oil-services firm

    Bloomberg Aker ASA, the investment company controlled by Norwegian billionaire Kjell Inge Rokke, is considering a sale of offshore-engineering business Aker Solutions ASA, according to people familiar with the matter. Aker ASA, which owns more than a third of Aker Solutions via a holding company with the Norwegian government and a direct stake, is discussing options with potential adviser …

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• 18 January

  KIA plans to cut reliance on external managers

    Bloomberg Kuwait Investment Authority is planning to manage more of its own assets as the world’s fifth-largest sovereign wealth fund seeks to take more risk to boost returns. The KIA, as the fund is known, wants to increase the allocation of funds managed in-house to as much as 8 percent from 1 or 2 percent at present, Managing Director …

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• 18 January

  Saudi expects growth ‘significantly higher’ than forecast

  

    Bloomberg Saudi Arabia’s growth this year will be “significantly higher” than the International Monetary Fund’s new forecast, according to Finance Minister Mohammed Al-Jadaan. Economic expansion will be “north of 1 percent,” Al-Jadaan said in an interview at the World Economic Forum in Davos, Switzerland. The IMF lowered its forecast to 0.4 percent from 2 percent in its World Economic …

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• 18 January

  Qualcomm accused of forcing deal on Apple to thwart rivals

  

    Bloomberg Qualcomm Inc. forced Apple Inc. to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors, the US said in a lawsuit against the biggest maker of mobile phone chips. Qualcomm’s exclusive deal with Apple was detailed in a Federal Trade Commission lawsuit accusing the chipmaker of illegally maintaining a monopoly for semiconductors used …

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• 18 January

  US consumer prices rise on shelter, gas

  

    Bloomberg The cost of living in the US climbed for a fifth month on the back of shelter and fuel prices, pushing inflation closer to the Federal Reserve’s goal. The consumer-price index rose 0.3 percent in December, matching the median projection of economists, after a 0.2 percent gain the previous month, Labor Department figures showed on Wednesday in Washington. …

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• 18 January

  Apple to raise UK app store prices to counter weakened pound

  

    Bloomberg Apple Inc. is raising App Store prices in the UK as much as 25 percent, bending to the pound’s drop in value following the country’s vote to leave the European Union. Apps that cost 79 pence ($1.20) will increase to 99 pence, according to a notification sent to app developers today, seen by Bloomberg. Apps that costs $2.99 …

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• 18 January

  UK employment steady, wages pick up

  

    Bloomberg The UK economy lost fewer jobs than expected and wage growth picked up towards the end of 2016, suggesting the labor market remains relatively resilient. The number of people in work fell by 9,000 to 31.8 million in the three months through November, whereas economists had predicted a 35,000 decline. The jobless rate stayed at 4.8 percent, the …

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• 18 January

  Iceland economy ponders testing currency markets

  

    Bloomberg Iceland, the world’s tiniest developed economy, is now pondering whether it has the might to take on the currency markets. The center-right coalition that took office this month wants an overhaul of Iceland’s monetary policy framework, which could lead to fixing the currency or letting it trade within a band, Finance Minister Benedikt Johannesson, 61, said. The review …

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• 18 January

  Zuckerberg denies ‘stolen tech’ claims for virtual reality device

  

    Bloomberg Mark Zuckerberg, saying it’s the first time he’s testified in a trial, vehemently denied claims that the virtual-reality headset maker acquired by Facebook Inc. in 2014 had stolen technology for the Oculus Rift. Facebook’s co-founder and chief executive officer, who has hailed virtual reality as his company’s next big thing, was called to the witness stand by ZeniMax …

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• 18 January

  ‘Moral dilemma’ for driverless cars

  

      BOSTON / AP Imagine you’re behind the wheel when your brakes fail. As you speed toward a crowded crosswalk, you’re confronted with an impossible choice: veer right and mow down a large group of elderly people, or veer left into a woman pushing a stroller. Now imagine you’re riding in the back of a self-driving car. How would …

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