March, 2019

• 16 March

  Qualcomm wins first US trial in global dispute with Apple

  

  Bloomberg Qualcomm Inc. won the first US jury trial in its global dispute with Apple Inc. over how much the iPhone maker should pay for using the chipmaker’s patented technology. A federal jury in San Diego awarded Qualcomm about $31.6 million in damages on its patent infringement claims. Qualcomm jumped as much as 3.5 percent before finishing up 2.2 percent ...

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• 16 March

  VW sued by SEC for misleading investors on diesel cheating

  

  Bloomberg Volkswagen AG was sued by the US Securities and Exchange Commission over claims it failed to disclose to investors that its diesel vehicles violated emission standards, the latest twist in a software cheating scandal that has already cost the company more than $30 billion. The German automaker sold billions of dollars of corporate bonds and asset-backed securities in the ...

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• 16 March

  Uber in advanced talks for $1bn self-driving stake sale

  

  Bloomberg Uber Technologies Inc. is in advanced discussions to sell a $1 billion stake in its costly self-driving car unit to a consortium of investors led by SoftBank Group Corp., people familiar with the plans said. The deal would value the autonomous-vehicle business at $5 billion to $10 billion, and Uber would retain a majority stake, said the people, who ...

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• 16 March

  British nightmare for utilities goes from bad to worse

  

  Bloomberg With or without Brexit, Britain is surely the toughest market for European utilities to make money in right now. After years and years of surging bills, disgruntled homeowners are abandoning the nation’s biggest energy suppliers at an alarming rate. In strikingly somber tones, utilities from Innogy SE to Centrica Plc have dished out bearish outlooks detailing their woes in ...

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• 16 March

  Boeing 737 Max disasters clue came from space

  

  Bloomberg The first concrete evidence of a possible link between two deadly Boeing 737 Max crashes came from space. A new satellite network capable of tracking planes in high fidelity across the globe captured the flight path of the Boeing Co. 737 Max that crashed March 10. The data was critical in persuading the US to join the rest of ...

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• 16 March

  Mechanics to buy Rabobank’s US retail unit for $2.1 billion

  

  Bloomberg Mechanics Bank agreed to buy much of Dutch lender Rabobank Group’s US operations for about $2.1 billion, bringing together two California lenders and extending the combined company’s reach throughout much of the state. Mechanics, based in Walnut Creek, California, is gaining Rabobank’s US retail, business-banking, commercial real estate, mortgage and wealth- management businesses, the companies said in a statement. ...

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• 16 March

  Deutsche Bank rejects pressure to sweeten retention bonuses

  

  Bloomberg Deutsche Bank AG is rebuffing pressure from top performers to restructure retention bonuses after the awards tumbled in value last year and opened the way for more defections, according to people familiar with the matter. The bank told key staff in recent weeks it won’t make any changes to the program, which began in 2017, the people said, asking ...

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• 16 March

  Swedbank laundering case grows as $10bn found in review

  

  Bloomberg Sweden’s oldest bank may have handled considerably more in suspicious transactions tied to an Estonian money laundering scandal than first reported. Swedbank AB, which dominates financial markets in the Baltic region, allegedly let about 95 billion kronor ($10.2 billion) in questionable flows move through its accounts between 2007 and 2015, according to Sweden’s main television broadcaster, SVT, which cited ...

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• 16 March

  Draghi’s salvo may avert policy u-turn

  

  Bloomberg Mario Draghi’s latest stimulus salvo means his successor as European Central Bank chief may not be forced into the kind of monetary policy U-turn he once faced. The president, who began his eight-year term reversing course on a recent interest-rate increase by his predecessor, has set in place the conditions to keep the euro zone in easing mode until ...

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• 16 March

  Credit Suisse targets $2bn wealth management profit

  

  Bloomberg Credit Suisse Group AG is targeting 2 billion francs ($2 billion) in pretax profit for 2019 in its key wealth-manage-ment unit, seeking a fourth consecutive year of profit growth for the division, according to people with knowledge of the matter. Iqbal Khan, head of international wealth management, told staff at an internal company event last week that he’s aiming ...

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