August, 2018

• 7 August

  Danske’s woes grow as Denmark opens money laundering probe

  

  Bloomberg Danske Bank A/S’s legal jeopardy is deepening. Prosecutors in Denmark said they had opened a criminal investigation into the bank, acting on “multiple complaints” that the Estonian unit of the country’s biggest lender was used to funnel billions of kroner of dirty money. The prosecutors said that they had been following “the case very closely” for a long period ...

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• 7 August

  Nedbank’s asset growth expanding slowly

  Bloomberg Nedbank Group Ltd. forecast that interest-earning banking assets will increase at a rate below that of nominal growth in South Africa’s gross domestic product, after earlier predicting it will be in line with the economy’s expansion. The lender’s credit-loss ratio, which rose 6 basis points to 53 basis points, will also increase slightly above the level achieved in 2017 ...

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• 7 August

  Facebook shares rise on optimism for banking relationships

  

  Bloomberg Facebook Inc.’s shares rose on optimism that the company is forging deeper relationships with banks to offer customer-service products via its Messenger chat application, a business that could boost engagement as growth slows on its main social network. Facebook has for years worked to make Messenger a natural place for consumers to communicate with businesses, aiming to replace email. ...

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• 7 August

  SoftBank leads $3bn-plus round in Alibaba’s Ele.me

  

  Bloomberg SoftBank Group Corp.’s monster Vision Fund plans to lead an investment of $3 billion to $5 billion into Ele.me, the food delivery giant owned by Alibaba Group Holding Ltd., people familiar with the matter said. The near-$100 billion fund led by Masayoshi Son is heading up discussions with potential investors including venture capital firms, said the people, who asked ...

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• 7 August

  HNA in talks to sell $2 billion Avolon stake to Japan’s Orix

  

  Bloomberg HNA Group Co., the Chinese conglomerate unwinding a global acquisition spree, is in advanced talks to sell a minority stake in jet lessor Avolon Holdings Ltd. to Japan’s Orix Corp., people with knowledge of the matter said. Orix has been discussing the purchase of about a 25 percent to 30 percent stake in Avolon from HNA’s Shenzhen-listed arm Bohai ...

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• 7 August

  India’s Ola takes on Uber in UK

  

  Bloomberg Ola, India’s dominant ride-hailing startup, announced its plans to enter the UK, opening yet another overseas front in a fight with global leader Uber Technologies Inc. Ola will initially side-step London, where Uber has just managed to garner a 15-month extension on its operating license, and will instead begin operations in South Wales and Greater Manchester, and is working ...

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• 7 August

  RCOM bonds drop to 2018 low after offer

  Bloomberg Bonds that Reliance Communications Ltd. defaulted on last year slumped to a seven-month low on Tuesday, after the Indian mobile operator controlled by billionaire Anil Ambani offered to repay holders at a discount to the principal value. The firm, which is set to meet with bondholders on August 10, has been trying to close a sale of wireless assets ...

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• 7 August

  ‘Google welcome in China if it obeys laws’

  Bloomberg Google, the world’s biggest search engine, is welcome to return to China as long as it complies with the nation’s laws and right to control the internet within its borders, the People’s Daily said. The opinion piece in the state-run newspaper said the Alphabet Inc. unit’s 2010 withdrawal from China, when it complained about hacking and censorship, was a ...

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• 7 August

  Japan college admits altering test scores to keep women out

  

  Bloomberg The Japanese university at the centre of a sexism scandal apologised for “systematic” manipulation of test scores aimed at keeping female students out, with top officials saying that discrimination against women should never be allowed. After media reports surfaced of the discrimination, Tokyo Medical University today released a report that concluded a written test for prospective students had “serious ...

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• 7 August

  UK sees ‘Brexit deal’ slipping to end-November

  

  Bloomberg UK Prime Minister Theresa May is resisting the European Union’s timetable for Brexit talks and is calculating that US President Donald Trump might help her. While EU officials are signaling they want September to be a showdown moment in negotiations, the UK is aiming for a later deadline, according to a person familiar with the situation. May’s team thinks ...

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