March, 2019

• 17 March

  ECB calls for govt help to boost economy

  

  Bloomberg The European Central Bank’s latest round of stimulus is being accompanied by renewed calls on governments to step up their game in nurturing the economy. It’s an acknowledgment by President Mario Draghi and fellow policy makers that they’ll do what they can — but their options are sorely depleted if the current economic weakness worsens. That puts the focus ...

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• 17 March

  Deutsche Bank confirms merger talks with Commerzbank

  

  Bloomberg Deutsche Bank AG said it’s in talks with Commerzbank AG as part of a review of its strategic options, moving closer to creating a national champion lender as both banks struggle to grow. The lender confirmed it is “engaging” in talks with Commerzbank as it seeks to boost growth and profitability. Bloomberg first reported that the banks’ boards were ...

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• 17 March

  BOJ leaves stimulus program unchanged

  

  Bloomberg The Bank of Japan (BOJ) left its monetary stimulus program unchanged as it downgraded its assessment of exports, factory output and overseas economies. The BOJ’s decision to maintain its policy interest rates and asset purchases was predicted by all 46 experts surveyed by Bloomberg. Its gloomier take on the economy was also largely expected after a raft of weak ...

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• 17 March

  Wells Fargo boosts CEO’s pay to $18.4m

  Bloomberg Wells Fargo & Co. boosted Chief Executive Officer Tim Sloan’s compensation by 5.7 percent to $18.4 million for last year as the bank has worked to overcome multiple scandals. Sloan got $2.4 million in salary and $14 million of restricted stock linked to performance goals, the San Francisco-based bank said in a regulatory filing. He also got a $2 ...

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• 17 March

  Boeing in turbulence as lawsuit risks soar

  

  Bloomberg Lawyers are already targeting Boeing Co. for Ethiopian Airlines disaster even while investigators are still trying to figure out what caused two 737 Max 8 jetliners to go down in a span of five months, killing 346 people. Boeing faces the prospect of substantial payouts to the families of passengers if it’s found responsible for both the Indonesia and ...

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• 17 March

  Italy’s populists struggle with bankrupt Alitalia rescue as EasyJet option cools

  

  Bloomberg Italy’s populist government is heading back to the drawing board as it struggles to find investors for bankrupt airline Alitalia SpA, with UK discounter EasyJet Plc close to bowing out of the latest rescue proposal, according to people familiar with the negotiations. Delta Air Lines Inc. is still on board as part of efforts led by Deputy Premier Luigi ...

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• 17 March

  Zurich, Aena bid high to win Brazil airport auction

  Bloomberg Flughafen Zurich AG and Aena SME won concessions to operate airports in Brazil in an auction. The tender was seen as a test of investors’ appetite towards President Jair Bolsonaro’s market-friendly agenda that includes a massive privatisation plan. Bids for the three regional blocks came in well above the initial ask, and the government will collect fees of some ...

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• 17 March

  Carrefour lures West Africans from markets to malls

  

  Bloomberg Battered minibus taxis snake the perimeter of Ivory Coast’s latest shopping hotspot, a brand new mall in a sprawling Abidjan suburb that shows how grocers like France’s Carrefour SA are turning their attention to lower-income African customers. The parking lot reserved for car owners lies empty, contrasting with the throng of shoppers inside the crowded $30 million Cosmos Mall, ...

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• 17 March

  Amazon to close 87 US pop-up electronics stores

  Bloomberg Amazon.com Inc. is ending its experiment with electronics-focussed pop-up stores, shuttering 87 kiosks located inside shopping malls, Whole Foods Market locations and Kohl’s stores around the US. “After much review, we came to the decision to discontinue our pop-up kiosk program,” an Amazon spokeswoman said. The closings are expected to be completed by the end of April, the Wall ...

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• 16 March

  UAE ranked as global leader in fibre optic network penetration

  

  ABU DHABI / WAM The UAE is ranked number one for the highest fibre to the home (FTTH) penetration among all its global counterparts for a third year in a row, according to the leading industry body FTTH Council. The council published its annual report that showcases the countries with the highest fibre optic network penetration globally. The report highlighted ...

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