October, 2018

• 9 October

  Danske Bank’s brutal stock selloff may have gone much too far

  

  Bloomberg A punishing selloff triggered by a money laundering scandal may have left Danske Bank A/S badly undervalued, according to analysts covering the stock. That means that shares in Denmark’s biggest financial group could be poised to soar more than 50 percent in the coming year, according to the average estimate of 24 analysts tracked by Bloomberg. The gap between ...

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• 9 October

  Goldman to reduce Marcus lending goal

  

  Bloomberg Goldman Sachs Group Inc is looking to restrain the rapid expansion of its online lending platform as the firm grows more cautious on the consumer debt market that’s a key area of growth. The firm’s Marcus unit cut its loan-originations target for next year, according to people with knowledge of the plans. The revision reflects concern about the stage ...

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• 9 October

  Greek banks tumble as Italy adds to capital worry

  Bloomberg Greek banks slid as contagion from Italy exacerbated concerns they’ll need to raise more capital to deal with their mountains of bad loans. The FTSE/Athex Bank Index was down 4.9 percent at 3:18 p.m. in Athens, having earlier fallen as much as 7.9 percent. Eurobank Ergasias SA tumbled as much as 14.4 percent before paring its losses to 8.6 ...

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• 9 October

  Currency ‘cartel’ traders on trial for chats that cost billions

  

  Bloomberg The three British currency traders who were part of an exclusive online chat group referred to by members as “the cartel” go on trial this week for alleged market manipulation that’s already cost global banks $14 billion in penalties. The trio represented banks handling a major chunk of the $5.1 trillion-a-day currency market. The men are accused of rigging ...

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• 9 October

  Airbus spruces up region’s communication landscape

  

  Dubai / Emirates Business­­­­­ Airbus will conclude its “Critical App Challenge for the Middle East” during the GITEX exhibition 2018 in Dubai from October 14 to 18 and honour the best developers for public safety apps in the region. Since August start-up companies from the region have registered for the Airbus competition to create inventive digital solutions to facilitate public ...

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• 9 October

  Airbus gets a new boss, who inherits all of old problems

  

  Bloomberg Airbus SE has selected its next chief executive officer. Cue in Guillaume Faury, former head of the aircraft manufacturer’s helicopter division and of research at carmaker Peugeot SA — and now a clean-up guy with a lot on his plate. Here are five critical do-list items that the new CEO will need to address when he takes over from ...

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• 9 October

  JM Smucker adds more treats to bulk up pet food

  

  Bloomberg JM Smucker Co. is doubling down on pet food as consumers move away from mainstream packaged human fare. The maker of jams, Folgers coffee and Jif peanut butter is unveiling four treats — including two under Milk-Bone brand — to beef up its pet-food unit, now largest division by sales. The company said it aims to generate $100 million ...

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• 9 October

  Angola preparing partial sale of state airline

  

  Bloomberg The board of Angolan airline Empresa Linhas Aereas De Angola E.P. is preparing to sell part of the state-owned airline, Chief Executive Officer Rui Carreira said. The airline, also known as TAAG, will begin a “gradual” process of creating “adequate and attractive conditions, adding value” for private investors, Carreira said in an audio clip emailed by the company. The ...

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• 9 October

  dnata bags GDP certification for ‘pharma cargo’

  

  Zürich / Emirates Business­­­­­ dnata, one of the world’s largest air services providers, has been awarded the Good Distribution Practice (GDP) certification for the pharmaceutical handling services at the company’s state-of-the-art facility in Zürich. GDP is a program focussed on systems for warehouses and distribution centers that store and distribute products that are medicinal or carry active pharmaceutical ingredients. Setting ...

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• 9 October

  Some Nigerian airlines face risk of collapse over debt

  Bloomberg Some Nigerian airlines are facing the risk of collapse under the weight of huge debts, according to the country’s Asset Management Corporation of Nigeria, set up to rescue banks from bad loans. “The industry remains in the throes of airlines burdened with debts, under administration or on the borderline of collapse,” Amcon chief executive Ahmed Kuru said at a ...

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