September, 2017

• 3 September

  Deutsche bank replaces BlackBerrys with iPhones

  

  Bloomberg Deutsche Bank AG is bowing to the inevitable and replacing the BlackBerry devices that were issued to its staff with iPhones. A Deutsche Bank spokesman confirmed that the lender is phasing out the devices, without commenting further. The company’s employees were increasingly giving up their BlackBerry phones in favour of ones they’d bought themselves under a Bring-Your-Own-Device (BYOD) policy, ...

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• 3 September

  Alphabet finishes reorganisation with XXVI Holdings that will own Google

  

  Bloomberg Alphabet Inc. is forming a new holding company designed to finalise its evolution from Google, the web search giant, into a corporate parent with distinct arms that protects individual businesses in far-flung fields like health care and self-driving cars. The new entity, called XXVI Holdings Inc., will own the equity of each Alphabet company, including Google. The new structure ...

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• 3 September

  Streaming video company Roku files for US IPO

  Bloomberg Roku Inc., the maker of devices and software for streaming video that was an early challenger to traditional home-entertainment providers, filed for a US initial public offering. The company listed an initial offering size of $100 million, which it said is a placeholder used to calculate fees and will probably change. IT plans to use the proceeds for general ...

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• 3 September

  Fiat Chrysler to spin off car-part unit as no big deal on table

  

  Bloomberg Fiat Chrysler Automobiles NV will push ahead with separating the parts business, while the carmaker doesn’t have any big deal on the table and hasn’t received any approach for a combination. “There are some activities at the component businesses which don’t belong to the car business and the group must be purified from those assets,” Chief Executive Officer Sergio ...

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• 3 September

  China’s Legend buys BIL bank for $1.8 bn

  

  Reuters China’s Legend Holdings struck a deal to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) for 1.48 billion euros ($1.76 billion) in the biggest takeover of a European deposit-taking bank by a Chinese firm so far. Legend, best known as owner of computer group Lenovo Group Ltd, is acquiring 161-year-old BIL from Precision Capital, an investment ...

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• 3 September

  UBS leans towards Frankfurt for EU hub

  

  Bloomberg UBS Group AG is leaning towards Frankfurt for its trading headquarters inside the European Union after Brexit, according to four people with knowledge of the matter. The Swiss firm’s investment bank employs about 4,800 bankers globally and could move 250 or more jobs out of London to Frankfurt and other European locations, two of the people briefed on the ...

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• 3 September

  Guatemala crisis to hinder growth, says central bank

  

  Bloomberg Guatemala’s second major political crisis in two years could hurt economic growth if it drags on, interim Central Bank President Sergio Recinos said. The crisis, which deepened after a court overruled President Jimmy Morales’s attempt to expel UN-backed anti-corruption chief Ivan Velasquez, was a factor in the central bank’s decision not to raise interest rates, and has dampened investor ...

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• 3 September

  Ex-RBI governor warned Modi against demonetisation

  

  Bloomberg The man who predicted the 2008 global financial crisis also presaged the damage Prime Minister Narendra Modi’s unprecedented cash ban would cause to India’s economy. Raghuram Rajan was governor of the Reserve Bank of India in February 2016, when he was asked by the government for his views on demonetisation, according to Rajan’s book “I do what I do”, ...

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• 3 September

  Southwest resumes flights to Houston post storm Harvey

  

  Bloomberg Southwest Airlines Co. resumed commercial service to Houston in the wake of flooding caused by Hurricane Harvey, landing its first passenger flight at William P. Hobby airport, according to tracking website lightAware.com. That puts Southwest behind United Continental Holdings Inc. and American Airlines Group Inc., which started limited service late last week at Houston’s George Bush Intercontinental Airport. Since ...

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• 3 September

  Ryanair to bid for Alitalia

  

  Bloomberg Ryanair Holdings Plc plans to bid for Alitalia SpA, which has filed for bankruptcy, and will keep the Italian company intact if it’s successful, according to Chief Executive Officer Michael O’Leary. Europe’s biggest discount airline is prepared to take over Alitalia’s long-haul arm as well as a short-haul unit that parallels its own operations, O’Leary said. Most of the ...

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