March, 2018

• 28 March

  Uber can’t afford to be an ugly American abroad

  

  Anybody who commutes via ride-share in one of Southeast Asia’s traffic-choked cities knows that Uber Technologies Inc. has always been an also-ran in the fast-growing region. Compared with Grab Taxi Holdings Pte. Ltd., the dominant ride-sharing company in Southeast Asia, it consistently had fewer cars available and was perpetually behind in offering localized services. When Uber announced on Monday that ...

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• 28 March

  The financial crisis is far from over for students

  

  The financial crisis and the bursting of the housing bubble are now a decade behind us. But at least one consequence persists: a pile of student loans. Those loans, and the government’s relentless efforts to collect on them, continue to haunt Americans years after names like Lehman Brothers and Bear Stearns faded into memory. Since the recession began in 2008, ...

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• 28 March

  Amazon is already reshaping the health care industry

  

  Without having done much yet, Amazon.com Inc. is already transforming US health care — and not necessarily for the better. The mere threat of the online giant getting into the health business prompted the country’s two largest pharmacy benefit managers — CVS Health Corp. and Express Scripts Holding Co. — to join forces with two of its largest insurers, Aetna ...

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• 28 March

  Cyberattacks hit debt-market pricing at biggest Nordic bank

  

  Bloomberg Nordea Bank AB will start pricing debt products to reflect threats to data as the scandal engulfing Facebook Inc. redefines corporate risk. Mathias Leijon, co-head of corporate and investment banking at Nordea in Stockholm, says his team has been thinking “a lot about this” risk, with a key question emerging as, “How do you include the cost associated with ...

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• 28 March

  Australian banks face squeeze as conduct probe crimps pricing power

  

  Bloomberg A recent spike in funding costs is happening at the worst time for Australia’s big banks, as intense public scrutiny crimps their ability to pass on increases to customers. The banks are fighting to defend their reputations in the face of an inquiry into misconduct and mistreatment of customers. Two weeks into hearings in front of a Royal Commission, ...

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• 28 March

  ‘Sparring’ is another blow to Deutsche Bank

  

  Bloomberg The silence all day spoke volumes about the disarray at the top of Deutsche Bank AG, say insiders and shareholders. No one at the bank — from spokespeople to the highest-ranking executives — commented publicly on a string of media reports and investor speculation that either Chairman Paul Achleitner or Chief Executive Officer John Cryan, or both, was on ...

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• 28 March

  HSBC freezes account tied to $500mn Angolan fraud

  Bloomberg HSBC Holdings Plc froze an account linked to an alleged fraud that siphoned about $500 million from Angolan state coffers, according to a person briefed on the matter. A large transfer raised suspicions at the bank, prompting it to alert UK authorities at least weeks ago, the person said, asking not to be identified discussing confidential information. Britain’s National ...

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• 28 March

  What world’s governments say about cryptocurrencies

  

  Bloomberg Getting your head around cryptocurrencies was hard enough before governments got involved. But now that policy makers around the world are drawing up fresh regulations on everything from exchanges to initial coin offerings, keeping track of what’s legal has become just as daunting as figuring out which newfangled token might turn into the next Bitcoin. The rules can vary ...

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• 28 March

  India to sell 76% stake in Air India; new owners to get jets, $5bn of debt

  

  Bloomberg India is selling a controlling stake in its flagship carrier along with two-thirds of the loss-making airline’s about $7.8 billion debt, as Prime Minister Narendra Modi moves ahead with the nation’s most high profile asset sale in decades. The government will sell 76 percent of Air India Ltd., according to a document uploaded on the civil aviation ministry’s website ...

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• 28 March

  China Southern profit jumps to record, focus on higher fares

  

  Bloomberg China Southern Airlines Co., Asia’s biggest carrier by fleet size, said profit jumped to a record on the back of a stronger yuan and as the state-owned carrier focussed on profitable domestic routes. Net income rose 18 percent to 5.96 billion yuan ($950 million) in 2017 while revenue rose 11 percent to 127 billion yuan, the Guangzhou-based airline said ...

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