March, 2018

• 17 March

  Bombardier hires TD Bank for Toronto-aircraft site sale

  

  Bloomberg Bombardier Inc has hired Toronto-Dominion Bank to find a buyer for the Downsview aircraft-assembly plant in Toronto that could fetch more than C$500 million ($382 million), according to people familiar with the matter. Canada’s biggest aerospace company has received multiple bids, with residential developers in the mix, said the people who asked not to be identified because the matter ...

  Read More »
• 17 March

  L’Oreal to buy virtual-reality app ModiFace

  

  Bloomberg L’Oreal SA is set to acquire the Canadian beauty tech company ModiFace, gaining tools for customers to test make-up and lipstick online. ModiFace’s augmented reality technology has been widely adopted by cosmetics makers since the company was founded in 2006 and helps power the mobile apps of LVMH’s Sephora and Estee Lauder. The Maybelline maker has built a stable ...

  Read More »
• 17 March

  Morgan Stanley, Principal gain as court voids DOL rule

  

  Bloomberg Morgan Stanley and Principal Financial Group Inc. were among banks and insurers that rallied after a US appeals court struck down a sweeping Obama-era rule that aimed to protect millions of Americans from conflicted investment advice. The rule, imposed by the Labor Department (DOL), would have added an extra layer of scrutiny for the industry and increased compliance costs. ...

  Read More »
• 17 March

  Saudi raises interest rates

  

  RIYADH / Reuters Saudi Arabia’s central bank raised its two key interest rates by 0.25 percentage points in an apparent effort to prevent Saudi money rates from falling far below US rates, which could trigger capital outflows from the kingdom. The central bank lifted its repo rate, at which it lends to commercial banks, to 2.25 percentage points and its ...

  Read More »
• 17 March

  EBRD makes first Lebanon deal with 2.51% equity stake in Bank Audi

  

  Bloomberg The European Bank for Reconstruction and Development (EBRD) has made a 2.51 percent equity investment in Lebanon’s Bank Audi, the EBRD’s first investment in Lebanon, Audi said. The EBRD, a multilateral development bank, said the investment in Lebanon’s largest bank aims to support Lebanese financial markets, influence the broader economy and strengthen the financial sector. Lebanon has one of the ...

  Read More »
• 17 March

  Deutsche Bank leads bulls with higher trading revenue forecast

  

  Bloomberg Deutsche Bank AG is predicting volatile markets are here to stay, helping the lender arrest two years of declines at its debt-trading business. Its forecast that full-year trading revenue will rise is bolder than that of its peers. While other US And European trading behemoths are also predicting a boost to trading, they’ve restricted themselves to the shorter term. ...

  Read More »
• 17 March

  Nordea gets shareholder nod for Finland HQ

  Bloomberg Nordea Bank AB won enough support from its shareholders for its proposed move to Helsinki from Stockholm, paving the way for the Nordic region’s largest bank to join Europe’s banking union. More than 95% of the shareholders present or represented at the bank’s annual general meeting in Stockholm voted in support of the proposed relocation, surpassing the two thirds ...

  Read More »
• 17 March

  UK’s biggest banks face higher capital hurdles

  

  Bloomberg The UK’s largest lenders face tougher capital demands in this year’s stress test, as the Bank of England steps up efforts to avert a repeat of the financial crisis. Banks will be held to a single capital standard that includes their minimum capital requirements as well as any buffers they must have to account for their importance to the ...

  Read More »
• 14 March

  UAE first country to launch DHL global shipping app

  DUBAI / WAM DHL has unveiled MyDHL+, an industry-leading global shipping application in the UAE, which will bring new levels of speed and simplicity to the cross-border shipping process. Shippers ranging from small businesses to large global corporations will be able to benefit from MyDHL+ and its intelligent, streamlined interface, which means fewer steps and considerably greater functionality than anything ...

  Read More »
• 14 March

  Physicist Stephen Hawking dies at 76

  Bloomberg Stephen Hawking, the British physicist and black-hole theorist who brought science to a mass audience with the best-selling book ‘A Brief History of Time,’ has died. He was 76. Hawking died peacefully at his home in Cambridge in England in the early hours of Wednesday morning, a spokesman for his family said in an emailed statement. “We are deeply ...

  Read More »