August, 2018

• 25 August

  US imposes limited sanctions on Russia after UK poisoning

  Bloomberg The US announced details of limited new sanctions against Russia over the March poisoning in the UK of a former Russian agent and his daughter, the latest sign relations between the former Cold War foes continue to deteriorate. Restrictions released by the State Department target remaining sources of foreign assistance and arms sales to Russia, and deny any US ...

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• 25 August

  US warns Russia of Assad hit if chemical arms used

  

  Bloomberg The US has told Russia it is ready to take strong military action against Syria if President Bashar al-Assad uses chemical weapons to recapture one of his country’s last rebel-held areas, according to four people familiar with the discussions. US officials say they have information Assad may be planning a chemical attack in the northwestern province of Idlib. At ...

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• 25 August

  Zimbabwe rejects bid to overturn poll result

  

  Bloomberg Zimbabwe’s top court dismissed the main opposition’s bid to overturn the results of last month’s disputed presidential election. The ruling confirms the victory of incumbent President Emmerson Mnangagwa, a 75-year-old former spy chief who has wooed international investors as part of his pledge to rebuild an economy devastated by decades of former President Robert Mugabe’s autocratic rule. A nine-member ...

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• 25 August

  Congo bars opposition figure from presidential election

  Bloomberg The Democratic Republic of Congo disqualified one of the country’s most popular opposition politicians from running for president. The decision removes a second key opponent from the race against President Joseph Kabila’s anointed successor and raises the risk of angry protests by opposition supporters. It casts doubt on the credibility of the December 23 election in the cobalt-rich nation, ...

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• 25 August

  ECB’s hunt for new watchdog starts with Ireland’s Donnery

  

  Bloomberg The European Central Bank’s (ECB) search for a new watchdog to oversee one of the world’s biggest banking systems has its first candidate: the Irish central bank’s deputy governor, Sharon Donnery. Irish Finance Minister Paschal Donohoe confirmed Donnery’s application, the day submissions to lead the Single Supervisory Mechanism (SSM) were due to close, saying that she’s an “exceptional candidate.” ...

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• 25 August

  UniCredit gains on ‘SocGen merger deal’

  

  Bloomberg UniCredit SpA, Italy’s biggest bank, climbed in Milan trading after a report that it had hired an adviser for a possible merger with France’s Societe Generale SA, a deal rumored already two years ago. Talks between the lenders to study integration and acquisition possibilities have been continuing, Italian financial newspaper MF reported, without citing anyone. UniCredit appointed Daniel Bouton, ...

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• 25 August

  National Australia, Commonwealth Bank may face criminal charges over ‘breaches’

  

  Bloomberg National Australia Bank Ltd. and Commonwealth Bank of Australia may face criminal charges over multiple breaches of the law in their treatment of pension customers, an inquiry into misconduct in the financial industry has been told. The two lenders faced particular criticism in a 200-page closing statement by counsel assisting the inquiry Michael Hodge following 10 days of evidence ...

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• 25 August

  Managers at UK TSB arm to step down

  

  Bloomberg Three senior executives at Banco de Sabadell SA’s British unit will step down in an overhaul that the bank said is unrelated to the meltdown of its IT system earlier this year. The UK arm, known as TSB Banking Group, will see Treasurer Ian Firth, Chief Marketing Officer Nigel Gilbert and Human Resources Director Rachel Lock retire in the ...

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• 25 August

  Mizuho chases riskier clients overseas, trying to revive profit

  

  Bloomberg Mizuho Financial Group Inc. is becoming more aggressive in chasing riskier clients outside Japan as it seeks to reverse the recent decline in its full-year profit, according to Chief Executive Officer Tatsufumi Sakai. The Tokyo-based lender may have been a “little conservative” in adjusting its asset profile towards non-investment grade assets overseas and away from lower-margin clients, Sakai said. ...

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• 25 August

  Unilever, Suzuki find pricing power as India’s growth soars

  

  Bloomberg From Mercedes-Benz AG to Unilever, companies in India are finding power to pass on higher costs to consumers, a sign that demand in the world’s fastest-growing major economy is well-entrenched. After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India’s economic recovery is gaining momentum. Businesses are taking ...

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