April, 2018

• 2 April

  Societe Generale warns of late-cycle volatility bursts

  

  Bloomberg Volatility may be here to stay — but there’s a lot investors can do to prepare for it. “Hedges against late cycle volatility bursts in credit, dispersion and cross-asset volatility as the equity/bond correlation itself becomes more volatile” are one key theme in Societe Generale SA’s second-quarter outlook from strategists led by Kokou Agbo-Bloua, the firm’s head of flow ...

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• 2 April

  Unity Bank denies Milost pact, distances itself from threats

  

  Bloomberg Unity Bank Plc, a Nigerian lender, denied entering a binding agreement with private-equity firm Milost Global Inc. over a potential $1 billion investment, saying talks were only preliminary and didn’t come with any commitments. New York-based Milost this week said it terminated talks to provide debt and equity funding to Unity, saying it received threats that it will be ...

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• 2 April

  Bulgaria reluctant to join Europe’s banking union

  

  Bloomberg Bulgaria, which is seeking to cement its path to euro adoption this year, said it has no plans to join Europe’s banking union before switching to the common currency. The Balkan nation wants to join the exchange-rate mechanism — the waiting room for euro adoption — this summer. While becoming a member of the union before entering the euro ...

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• 2 April

  ECB’s Jazbec quits as Slovenian governor for EU bank agency

  

  Bloomberg Bostjan Jazbec, a member of the European Central Bank’s Governing Council, will step down as the head of Slovenia’s monetary authority April 30, opening the way for a new government to choose his replacement after elections this summer. Jazbec will become a member of the Single Resolution Board, the European Union body responsible for the orderly winding down of ...

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• 2 April

  Alibaba takes control of Ele.me, valuing startup at $9.5 billion

  

  Bloomberg Alibaba Group Holding Ltd. is buying full control of the startup Ele.me as it steps up efforts to expand in China’s fast-growing market for local delivery of food and other services. The deal implies an enterprise valuation of $9.5 billion for Ele.me, Alibaba said in a statement, without saying how much it’s paying. Alibaba and affiliate Ant Small and ...

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• 2 April

  US Air Force chief calls Lockheed F-35 upkeep costs a major concern

  

  Bloomberg The US Air Force’s top general said the estimated cost to operate and maintain its version of Lockheed Martin Corp.’s F-35 jet is a serious issue that’s sparked a search for savings by the service and senior Pentagon acquisition and support officials. “Are O&S sustainment costs a major concern?” General David Goldfein, the Air Force chief of staff, said, ...

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• 2 April

  MyFitnessPal’s 150mn accounts hacked

  

  Bloomberg Under Armour Inc., joining a growing list of corporate victims of hacker attacks, said about 150 million user accounts tied to its MyFitnessPal nutrition-tracking app were breached earlier this year. An unauthorised party stole data from the accounts in late February, Under Armour said. It became aware of the breach earlier this week and took steps to alert users ...

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• 2 April

  Walmart, Humana move closer as separate upheavals threaten

  

  Bloomberg Different threats from major shifts in two industries are pushing Walmart Inc. and health insurer Humana Inc. towards the same solution. Amazon.com Inc. has taken direct aim at the giant retailer by siphoning customers out of its stores. Humana’s rivals are striking deals to make them one-stop health superstores with insurance, drug coverage, pharmacies, clinics and doctors. A deal ...

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• 1 April

  Abu Dhabi to host first Green business summit

  Abu Dhabi / WAM The first-ever Green Business Summit in Abu Dhabi will include a series of special panel discussions led by leading experts in international policy and sustainable development. Key topics include an assessment of global sustainability initiatives, how governments can create a policy fram-ework that stimulates the transition to a greener future, and what it will take for ...

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• 1 April

  Trojan General wins AED1.3bn contract for Aldar Water’s Edge

  Abu Dhabi / WAM Aldar Properties, Aldar, has appointed Trojan General Contracting LLC as the main contractor for Water’s Edge, its latest waterfront development on Yas Island. The AED1.3 billion contract follows the award of the early works package to Dutch Foundation, who commenced work on site in February this year. Located on Yas Island’s Eastern shores, Water’s Edge comprises ...

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