January, 2018

• 30 January

  Spain’s elite edges away from Rajoy

  

  Bloomberg Mariano Rajoy is rallying his troops for a political fightback. But his troops aren’t so sure. The Spanish prime minister is encouraging some senior officials to run in regional elections next year as he looks to shore up his People’s Party’s power base, according to people familiar with his thinking who asked not to be named discussing party strategy. ...

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• 30 January

  Kenyan crisis escalates as opp set to inaugurate leader

  Bloomberg Kenya’s main opposition alliance defied warnings of a crackdown and prepared to inaugurate its leader as a so-called people’s president, threatening to deepen the East African nation’s political crisis. Thousands of National Super Alliance (Nasa) supporters thronged Uhuru Park on the edge of Nairobi’s city center by late Tuesday morning, awaiting the arrival of their leader Raila Odinga. The ...

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• 30 January

  China’s risk crackdown gives giant bank stocks a boost

  

  Bloomberg China’s top banks — the biggest in the world — have typically traded below the value of their assets on concern over rising bad debt and falling profitability. That’s starting to change, and quickly. A recent surge in the Hong Kong-traded shares of China’s Big Four state banks lifted their average price-to-book value ratio to 1. That’s the highest ...

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• 30 January

  Lloyds set to merge consumer finance unit earnings with retail

  

  Bloomberg Lloyds Banking Group Plc is changing the way it reports some of its key numbers ahead of its annual results next month. The earnings of the consumer finance unit, whose assets increased by 12 percent to 39.2 billion pounds ($54.8 billion) in 2016, will be merged with the retail division, according to a memo sent to investors and seen ...

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• 30 January

  Mauritius inflation contained for now

  

  Bloomberg Inflation expectations in Mauritius are contained for now, leaving room for the central bank to stick to its accommodative stance to support economic growth, Governor Yandraduth Googoolye said as he prepares to chair his first Monetary Policy Committee meeting next month. The pick-up in the average rate of price growth in the 12 months through December was due to ...

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• 30 January

  Australian bank sued for ‘rate rigging’

  Bloomberg Commonwealth Bank of Australia is being sued by the nation’s securities regulator for allegedly rigging the benchmark bank-bill swap rate, adding to legal problems for the nation’s largest lender. The Australian Securities & Investments Commission said it began legal proceedings on Tuesday in the Federal Court in Melbourne, alleging the bank engaged in “unconscionable conduct and market manipulation” between ...

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• 30 January

  Morocco currency float up to 15yrs away as reforms vital

  

  Bloomberg Morocco may need anything from five to 15 years to fully float the dirham, with further currency liberalisation dependent on other reforms including strengthening the country’s export base and reducing the current-account deficit, central bank Governor Abdellatif Jouahri said. Policymakers finally eased their grip on the dirham on January 15, allowing the currency to trade 2.5 percent above or ...

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• 30 January

  Keurig to take control of Dr Pepper in $18.7bn deal

  

  Bloomberg JAB Holding Co.’s audacious effort to build a food-and-beverage empire, which already includes Krispy Kreme Doughnuts and Caribou Coffee, has taken a surprise turn into soft drinks. The investment firm’s Keurig Green Mountain Inc. business, known for its single-serve coffee brewers, agreed to take control of Dr Pepper Snapple Group Inc. The deal will pay $18.7 billion in cash ...

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• 30 January

  Ryanair reaches first union deal with pilots

  

  Bloomberg Ryanair Holdings Plc recognised the union representing its UK pilots, reaching its first formal labour agreement in the discount airline’s history. The 600 UK pilots directly employed by the carrier will be represented by the British Airlines’ Pilots Association, Ryanair said in a statement. All 15 of its bases in the market—the company’s biggest—have also voted to accept management’s ...

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• 30 January

  China Eastern cancels flights over Taiwan row

  

  Bloomberg China Eastern Airlines Corp. and Xiamen Airlines Co. cancelled 176 additional flights to Taiwan after failing to gain approval from the island’s authorities amid an escalating dispute between the two governments. The flights are a newest sticking point between China and Taiwan, which Beijing considers a province to be reunited with the mainland. Taiwanese President Tsai Ing-wen, whose ruling ...

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