August, 2017

• 9 August

  Vantiv to buy Worldpay Group for $10.4 billion

  

  Bloomberg Vantiv Inc., the largest US merchant acquirer, agreed to buy e-commerce payments company Worldpay Group Plc for about $10.4 billion. The deal values each Worldpay share at 397 pence and the combined payment processing firm will seek a secondary listing on the London Stock Exchange, according to a statement on Wednesday. Following the deal, the company will be called ...

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• 9 August

  Brexit talks difficult yet productive, says Davis

  

  Bloomberg Last month’s second round of discussions on extricating Britain from the European Union produced a “significant step forward” on the thorny issue of citizens’ rights, even though the talks were at times tricky, Brexit Secretary David Davis said. In the July 17-20 talks in Brussels, negotiators focused on discussing the rights of EU citizens in Britain and those of ...

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• 9 August

  Jaguar Land Rover sees higher incentive costs

  

  Bloomberg Jaguar Land Rover will have to continue to offer higher incentives to win customers as competition intensifies after Tata Motors Ltd.’s luxury unit posted slower growth in deliveries. A one-time gain helped Jaguar Land Rover post a 49 percent jump in profit before tax of 595 million pounds ($774 million), its Mumbai-based parent said on Wednesday. The profit includes ...

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• 9 August

  Disney sees a future sans Netflix, Comcast, DirecTV

  

  Bloomberg Walt Disney Co.’s Bob Iger is ready to embrace the cord cutter. Disney, the world’s largest entertainment company, outlined plans on Tuesday to sell some of its premiere content directly to consumers online starting next year. It will offer live sports and animated films including “Toy Story 4,” sidestepping partners from Netflix Inc. to pay-TV providers like Comcast Corp. ...

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• 9 August

  Many MBAs don’t prefer Wall Street

  Bloomberg Wall Street? A new survey shows that jobs outside of Wall Street are becoming increasingly enticing to recent MBA graduates. According to data from Training the Street, bulge bracket banks were a top employment choice for just 19 percent of respondents. A drop of 7 percent from last year is also the lowest level in the eight-year history of ...

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• 9 August

  HSBC plans Saudi growth thanks to kingdom’s ‘unprecedented’ change

  

  DUBAI / Reuters HSBC is planning to add staff to its Saudi Arabian operations as the kingdom embarks on one of the biggest economic transformations attempted by any country, the bank’s regional chief Georges Elhedery told Reuters. Opportunities for investment banks have increased tremendously due to Vision 2030, the reform programme launched by Crown Prince Mohammed bin Salman to diversify ...

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• 9 August

  ECB poised to exit stimulus in a decade

  

  Bloomberg A decade ago, the European Central Bank took its first step to becoming the euro area’s firefighter-in-chief. Its $112 billion emergency loan to banks on Aug. 9, 2007, was the initial response to a financial crisis that would force the Frankfurt-based institution to expand its balance sheet by trillions of euros. The ECB — together with international peers such ...

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• 9 August

  Commonwealth Bank of Australia profit rises

  

  Bloomberg Commonwealth Bank of Australia reported its eighth consecutive year of record profit, driven by growth in mortgage and business lending. Cash profit, which excludes one-time items, rose 4.6 percent to A$9.88 billion ($7.8 billion) in the 12 months ended June 30, from A$9.45 billion a year earlier, the Sydney-based lender said in a filing Wednesday. That compares with the ...

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• 9 August

  Mizuho seeks $100 bn from overseas transaction banking

  

  Bloomberg Mizuho Financial Group Inc. wants to grow its business managing overseas corporate money by $100 billion this fiscal year, as it seeks new ways to boost international earnings at a time of negative interest rates at home. “We’re expanding with a focus on the cross-border transactions of non-Japanese corporations doing business in Asia,” Zenichi Tanakamaru, a senior vice president ...

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• 9 August

  BOE’s assessment offers little reason to lift key rate

  Bloomberg The Bank of England presented a fresh downbeat assessment of the UK economy, highlighting slower consumer spending and weak wage growth, reinforcing the view that an interest-rate increase is far from imminent. A report by the BOE’s regional agents published on Wednesday said that the initial impact of the weaker pound on prices may be almost done, goods-price inflation ...

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