June, 2017

• 27 June

  Panasonic joins push to put photovoltaics on more car roofs

  

  Bloomberg Panasonic Corp. sees the future of solar on car rooftops. The Osaka-based electronics maker has started producing a 180-watt array of solar cells that can be fixed to the roof of an automobile. In February, Panasonic announced that its photovoltaic module would be used on the roof of Toyota Motor Corp.’s latest Prius plug-in hybrid. Cars represent a potentially ...

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• 27 June

  Toshiba chip-unit bidders push back final agreement

  

  Bloomberg Toshiba Corp.’s announcement of a final agreement to sell its memory chip business may be delayed beyond the electronics maker’s self-imposed deadline this week, as Bain Capital and Japanese investors work out the structure of the deal, people with knowledge of the matter said. When announcing the preferred bidders last week, Toshiba said it planned to reach an agreement ...

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• 27 June

  SoftBank’s Vision Fund eyes investment in quantum computing

  Bloomberg SoftBank Group Corp.’s Vision Fund is scouting for possible investments in quantum computing, an experimental science being researched by companies such as Google and IBM to succeed current computer processor technology. Shu Nyatta, who helps invest money for the fund, said the group wanted to find and back the company whose quantum computing hardware or software that runs atop ...

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• 27 June

  UK banks brace for £11.4bn capital demand from BOE

  

  Bloomberg The Bank of England (BOE) plans to increase capital requirements for UK lenders by 11.4 billion pounds ($14.5 billion) to tackle risks posed by consumer credit growth and prepare for the uncertain outcome of Brexit talks. The BOE set the countercyclical capital buffer at 0.5 percent of risk-weighted assets for UK loans effective in June 2018. “Absent a material ...

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• 27 June

  Bankia takes over BMN as bank cleanup accelerates

  

  Bloomberg Bankia SA agreed to acquire Banco Mare Nostrum SA (BMN) in an all-stock deal, part of a plan by Spain to recoup the costs of bailing out lenders following the country’s property bust. Bankia, the country’s fourth-biggest bank by market capitalization, will issue new stock amounting to 6.7 percent of its post-merger capital to the shareholders of Banco Mare ...

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• 27 June

  ANZ suffered ‘substantial losses’ in alleged scam

  

  Bloomberg Australia & New Zealand Banking Group Ltd. (ANZ) told a US court that its commodities trading arm suffered ‘substantial losses’ after it discovered that receipts for metal held in Glencore Plc’s Access World warehouses are probably fake. When ANZ looked into selling the nickel, it discovered 83 out of 84 receipts it held were likely forgeries, the Australian lender ...

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• 27 June

  Intesa CEO wins big from collapse of two Veneto lenders

  

  Bloomberg As Italian taxpayers contemplate the $19 billion bill to clean up two failed Veneto banks, Intesa Sanpaolo SpA shareholders cheered. The nation’s second-largest bank is taking over the good assets of Banca Popolare di Vicenza SpA and Veneto Banca SpA for 1 euro and will also receive 5.2 billion euros ($5.83 billion) from the state to maintain its capital ...

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• 27 June

  Mozambique banks snared in debt crisis must merge to thrive

  

  Bloomberg Mozambique’s smaller banks should combine in an effort to overcome the blow dealt by government debt defaults after four lenders failed over nine months. The country’s debt crisis threatens to unravel efforts by the central bank to strengthen the nation’s financial system through the introduction of new capital and liquidity rules. Central bank Governor Rogerio Zandamela said last week ...

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• 27 June

  SpiceJet crowned world’s top performing aviation stock

  

  Bloomberg Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere US$2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock — with US$26 billion in plane orders to boot. The company’s co-founder and Chairman Ajay Singh has played the white knight, injecting ...

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• 27 June

  Thai Airways plans to buy 30 planes to modernize fleet

  

  Bloomberg Thai Airways International Pcl said it plans to modernize its fleet by replacing almost 30 older aircraft over the next five years, adding to the climbing demand for planes in Asia. The state-run airline is seeking new generation aircraft offering greater comfort and fuel efficiency, and is talking with both Airbus SE and Boeing Co., Chairman Areepong Bhoocha-Oom said ...

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