May, 2019

• 11 May

  Deutsche Bank is driven by its ex-Goldman man

  

  During the go-go years before the financial crisis, Deutsche Bank AG expanded with reckless abandon, chasing a spot among the Wall Street elite at all costs. Since the wheels came off for the industry at the end of the last decade, the German giant has been ruinously slow to adapt, deepening the value destruction for its shareholders. For two decades ...

  Read More »
• 11 May

  Apple preps upgrades for iPhone apps, watch, health data

  

  Bloomberg Apple Inc is planning to unleash a slew of new apps, features and development tools at its annual software conference next month. To improve its devices and strengthen its connection to customers, the consumer technology giant will continue to walk a fine line between wooing outside app makers while also competing against them. The Worldwide Developers Conference, or WWDC, ...

  Read More »
• 11 May

  Dyson patents reveal plans for electric car set for 2021

  

  Bloomberg Dyson Ltd’s electric car may have a long wheel base, an interior cabin with reclining seats and an aerodynamic design, according to patents awarded to the company. The patents, filed about 18 months ago and made public, are the first glimpse of the car being built by the UK-based company known for pricey vacuums, hair dryers and air purifiers. ...

  Read More »
• 11 May

  Google debuts new Pixel phones after premium handsets flop

  

  Bloomberg Google unveiled cheaper Pixel smartphones after the company’s line of premium handsets failed to sell in large numbers. Slower processors and cheaper materials helped Google price the Pixel 3a with a 5.6-inch screen at $399. The larger Pixel 3a XL has a 6-inch screen and costs $479. That’s roughly half the price of the company’s existing Pixel phones, before ...

  Read More »
• 11 May

  Fed likely to cut rates as US raises Chinese import tariffs

  

  Bloomberg The Federal Reserve probably will be more inclined to cut interest rates now that President Donald Trump has followed through on his threat to increase tariffs on US imports from China. But it won’t rush into doing so. While the higher levies will put upward pressure on inflation by raising import prices, the central bank will likely be more ...

  Read More »
• 11 May

  Tencent, Ant Financial, Xiaomi join Hong Kong’s virtual banking race

  

  Bloomberg Tencent Holdings Ltd., Ant Financial, Industrial & Commercial Bank of China Ltd. and Xiaomi Corp. are among companies to win licenses to create virtual lenders in Hong Kong, bringing major players into the race to shake up the city’s traditional banking sector. Tencent has teamed up with ICBC’s local unit and Hong Kong Exchanges and Clearing Ltd., according to ...

  Read More »
• 11 May

  SocGen launches crypto to $2trn market for covered bonds

  

  Bloomberg A bond market as old as capitalism itself has emerged as the latest proving ground for cryptocurrencies. A unit of Societe Generale SA sold 100 million euros ($112 million) of covered bonds — debt backed by mortgages — in the form of digital tokens with the French bank as the only buyer. The idea of last month’s pilot issue ...

  Read More »
• 11 May

  Norway set for June interest rate hike in sign of breaking with global trend

  

  Bloomberg Norway’s central bank said it will probably raise interest rates in June, three months after the last increase, as policy makers break with a global trend and commit to tightening. The economy of Western Europe’s biggest oil exporter is nearing full capacity as its labour market grows tighter and inflation creeps above Norges Bank’s target. But with central bankers ...

  Read More »
• 11 May

  UniCredit quickens cleanup as CEO prepares for growth

  

  Bloomberg UniCredit SpA Chief Executive Officer Jean Pierre Mustier accelerated a long-running cleanup and bore down on costs as the Italian bank prepares to move from a strategy of recovery to growth. Italy’s biggest bank reduced operating expenses by 4.2 percent in the first quarter from a year earlier and set aside less money for bad loans. That helped the ...

  Read More »
• 11 May

  Amazon’s one-day shipping lifts startups serving Walmart

  

  Bloomberg Amazon.com Inc’s pledge last month to pump $800 million into making next-day delivery the new standard upped the pressure on its brick-and-mortar rivals to spend more trying to catch up all over again. That’s good news for logistics startups helping Walmart Inc, Best Buy Co, Macy’s Inc and other retailers compete online. These upstarts, often led by Amazon alumni, ...

  Read More »