May, 2018

• 19 May

  iZettle’s evening sale to PayPal a $2.2 billion change of heart

  

  Bloomberg iZettle AB finalised its deal to be bought by PayPal Holdings Inc for $2.2 billion the evening before the Swedish fintech startup was set to price its shares in an initial public offering. It looked like an abrupt about-face for the company, which competes with Square Inc. and Canada’s Shopify Inc. On May 8 it announced it was seeking ...

  Read More »
• 19 May

  30-year US Treasury yield hits 3-year high

  

  Bloomberg The 30-year US Treasury yield rose to its highest level since 2015, showing that this year’s selloff has spread to the most-resilient part of the world’s biggest bond market. The yield on the long bond surpassed 3.2322 percent, the previous 2018 high set February 21, to reach 3.2379 percent, highest since July 2015. It follows the 10-year borrowing benchmark ...

  Read More »
• 19 May

  Telecom Italia sales up on mobile subscriber growth

  

  Bloomberg Telecom Italia SpA posted first-quarter sales that beat analysts’ estimates driven by growth in domestic mobile and broadband subscriber numbers. In the carrier’s first results since US activist investor Elliott Management Corp. took control of its board this month, Telecom Italia said revenue rose 2.7 percent in organic terms to 4.71 billion euros ($5.5 billion). That compared with the ...

  Read More »
• 19 May

  Cisco slides as forecasts fall short of optimistic views

  

  Bloomberg Cisco Systems Inc. shares slipped in trading after the network-equipment maker’s fourth-quarter forecasts fell short of Wall Street’s most optimistic projections. Before the company provided its outlook for the current period, the stock had surged 32 percent in a year, last week reaching the highest price in more than 17 years. While Cisco said it’s optimistic about demand and ...

  Read More »
• 19 May

  Linde, Praxair face EU objections

  

  Bloomberg Linde AG and Praxair Inc. are poised to get a so-called statement of objections listing potential reasons for the European Union’s antitrust regulator to block their proposed $46 billion merger, according to three people familiar with the EU review. Such a filing — common in complex merger probes — would lay out precise concerns with the transaction combining the ...

  Read More »
• 19 May

  Daimler, Deutsche Telekom settle toll fiasco for $3.8bn

  

  Bloomberg Daimler AG and Deutsche Telekom AG agreed to a 3.2 billion-euro ($3.8 billion) deal with the German government, ending a spat over the clunky start of a system to collect truck tolls that had become one of the country’s longest running legal disputes. The agreement involves a cash payment of 1.1 billion euros, which will be split evenly between ...

  Read More »
• 19 May

  Trump’s global disruption pushes Merkel towards Putin’s orbit

  

  Bloomberg As Donald Trump shakes up the global order, German Chancellor Angela Merkel is being pushed closer toward a more predictable partner in Moscow. When President Vladimir Putin hosted Merkel in the Black Sea resort of Sochi on Friday, both leaders did their best to keep tensions in the background compared with a year ago, when they clashed over Ukraine ...

  Read More »
• 19 May

  US Democrats want Trump administration to help them sue Russia

  

  Bloomberg The Democratic National Committee is seeking a court order that would essentially force President Donald Trump’s administration to aid the group’s lawsuit accusing Russia of interfering in the 2016 election. Enlisting Secretary of State Mike Pompeo through a provision of the Foreign Sovereign Immunities Act “is the only means available to the plaintiff” to formally serve Russia with the ...

  Read More »
• 19 May

  May risks Brexit backers’ wrath with ‘customs plan’

  

  Bloomberg Prime Minister Theresa May is preparing the ground to keep the UK inside the European Union’s core trade rules for years after Brexit, a move that risks a rebellion from euroskeptics who could force her out. May’s inner Cabinet has agreed a plan to keep the UK aligned with the EU’s tariff rules for longer as a last resort ...

  Read More »
• 19 May

  Modi’s BJP fails to form govt in Karnataka

  

  Bloomberg The three-day-old government of ruling Bharatiya Janata Party failed to prove its majority in the southern Indian state of Karnataka, dealing a blow to PM Narendra Modi’s plan to expand his party’s influence outside its strongholds ahead of a federal poll in 2019. The development sets the stage for the formation of a new coalition government of regional Janata ...

  Read More »