July, 2017

• 19 July

  Credit Suisse hiring private bankers for Saudi Arabia push

  

  Bloomberg Credit Suisse Group AG is planning to hire more relationship managers in Saudi Arabia, joining rivals including Deutsche Bank AG in designating the country as a priority for their wealth management business. The recruitment drive comes after the Zurich-based bank established a platform allowing it to offer private banking services and products in the country, according to an emailed ...

  Read More »
• 19 July

  Lloyds seeks new London office in $130mn cost push

  

  Bloomberg Lloyds Banking Group Plc is in talks to lease a new London office with room for about 1,000 workers in an effort to consolidate its locations in the capital and help save 100 million pounds ($130 million), two people familiar with the plan said. The UK bank is in discussions with law firm CMS Cameron McKenna LLP to lease ...

  Read More »
• 19 July

  Handelsbanken CEO targets UK growth

  

  Bloomberg One of Sweden’s biggest banks is targeting growth in the UK as uncertainty surrounding the country’s future amid Brexit talks proves no deterrent at all. The chief executive officer of Svenska Handelsbanken AB, Anders Bouvin, told Bloomberg TV’s Francine Lacqua he is “very firmly committed” to the U.K. market. Management will probably continue to add branches, though the CEO ...

  Read More »
• 19 July

  Australia’s big four banks rally on ‘benign’ new capital requirements

  

  Bloomberg Australia’s big four banks rallied in Sydney trading as new capital requirements turned out to be less onerous than expected and the financial regulator signaled they may not get any higher. To ensure they are ‘unquestionably strong,’ Australia & New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank Ltd. and Westpac Banking Corp. will need Tier-1 ...

  Read More »
• 19 July

  Goldman, BofA reverse roles as core units disappointment

  

  Bloomberg When Bank of America Corp. (BoFA) and Goldman Sachs Group Inc. posted earnings, one had record income from lending while the other had better-than-expected trading. The surprise is which was which. Goldman Sachs, the vaunted trading house, pointed to growth in its effort to lend to wealthy people as a bright spot. Bank of America, with 4,500 branches across ...

  Read More »
• 19 July

  Lockheed Martin’s $5.58bn F-35 advance fuels brighter outlook

  

  Bloomberg Lockheed Martin Corp. raised its profit forecast weeks after a $5.58 billion down payment on the latest contract for its F-35 Lightning II fighter signaled the jet’s revenue potential. Earnings will be $12.30 to $12.60 a share this year, 15 cents more than previously forecast, the company said in a statement as it reported second-quarter profit that topped analysts’ ...

  Read More »
• 19 July

  US ends laptop ban on Saudi Arabian Airlines

  

  KHOBAR / Reuters A ban on laptops and other large electronic devices from the cabins of direct flights to the United States from Saudi Arabia has been lifted, Saudi Arabian Airlines said on Wednesday. In March, U.S. officials imposed restrictions on passengers carrying laptops and other large electronic gear in cabins on nine airlines, most of which were Middle Eastern ...

  Read More »
• 19 July

  Electrolux profit beats forecast on North American strength

  

  Bloomberg Electrolux AB raised its outlook for growth in North America as second-quarter profit beat estimates and Europe’s biggest maker of household appliances sold more air conditioners to US customers. Demand for appliances in the Stockholm-based company’s biggest market is expected to grow by 3 percent to 4 percent this year, Electrolux said in a statement on Wednesday. That compared ...

  Read More »
• 19 July

  Flipkart makes new offer of $950mn for Snapdeal

  Bloomberg Flipkart Online Services Pvt has made a revised bid to acquire rival Snapdeal for about $950 million, an offer that could lead to a final agreement between India’s two largest local e-commerce providers within three weeks, according to people familiar with the matter. Snapdeal’s board members discussed the proposal on a conference call late last night after rejecting an ...

  Read More »
• 19 July

  Last ‘incredible’ airline opportunity opens in Argentina

  

  Bloomberg The skies over Argentina have airline industry veterans lining up planes. The nation’s vast territory and a young working population in Buenos Aires with links to faraway hometowns are two attractions. Join those with a government willing to open virtually untapped markets — currently served almost exclusively by state-run Aerolineas Argentinas SA — and the potential is huge. That’s ...

  Read More »