June, 2017

• 17 June

  Mommy, Ambani broke my business

  

  India’s billionaires believe in rugged, muscular capitalism—so at the first hint of trouble, they go running to mommy. Sunil Mittal, who controls India’s biggest wireless service, and Kumar Mangalam Birla, who’s in the process of merging his number 3 operator with the second-ranked local unit of Vodafone Plc, are seeking the Indian government’s intervention. The big three claim the entry ...

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• 17 June

  Political correctness won’t fix Uber’s problems

  

  There’s a disconnect between the way Uber, the ride-hailing company, is trying to transform itself and what it really needs to fix to become a sustainable business. Instead of reconsidering its business model and protecting itself against a regulatory backlash, it has decided to go politically correct. As a result of much highly public soul-searching, caused by accusations of mistreating ...

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• 17 June

  FB enlists AI, human experts in new push against terror

  

  Bloomberg Facebook Inc. has hired more than 150 counterterrorism experts and is increasingly using artificial intelligence that can understand language and analyze images to try to keep terrorists from using the social network for recruiting and propaganda. Monika Bickert, director of global policy management, and Brian Fishman, counterterrorism policy manager, outlined aspects of Facebook’s latest efforts in a post to ...

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• 17 June

  Apple hires Sony’s ‘Breaking Bad’ team as TV push gains pace

  

  Bloomberg Apple Inc. hired two former Sony Corp. television executives who oversaw the development of acclaimed shows like “Breaking Bad” and “The Crown,” further evidence that the technology giant is getting serious about producing its own video programming. Jamie Erlicht and Zack Van Amburg, who had been presidents of Sony Pictures Television since 2005, will report to Eddy Cue, Apple’s ...

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• 17 June

  Message startup Slack draws interest from Amazon.com

  Bloomberg Corporate chatroom startup Slack Technologies Inc. has received recent inquiries about a potential takeover from technology companies including Amazon.com Inc., people with knowledge of the situation said, a deal that would be the internet-commerce giant’s biggest ever. San Francisco-based Slack could be valued at at least $9 billion in a sale, the people said. An agreement isn’t assured and ...

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• 17 June

  LG’s new appliance seeks to make cooking smart

  

  Abu Dhabi / Emirates Business LG’s latest appliance wants to partially replace the chef in your house and give you and your family precious time back. Family, food, culture, heritage and traditions are of central focus during the holy month of Ramadan and now with smart appliances, homemakers are able to take advantage of new technology to prepare meals that ...

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• 17 June

  China’s smaller banks endure record costs to raise funds

  

  Bloomberg China’s smaller banks, caught between a seasonal cash squeeze and an official deleveraging drive, are stomaching record high borrowing costs to raise funds. Issuance of negotiable certificates of deposit jumped to 758 billion yuan ($111.5 billion) this week, the most since the securities were introduced in 2013 as a lifeline for smaller banks. The yield on one-month AAA rated ...

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• 17 June

  Banco do Brasil stalls on Banco Patagonia share sale

  Bloomberg A potential share sale of Banco Patagonia SA was delayed after majority holder Banco do Brasil SA prevented a shareholder meeting of the Argentine lender. Banco do Brasil hasn’t decided whether it will sell its 59 percent stake in Patagonia or offer new shares, according to two people familiar with the matter who asked not to be named because ...

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• 17 June

  Ruble pares third weekly drop as central bank cuts key rate

  Bloomberg Russia’s ruble pared a third weekly drop while bonds fell as the central bank slowed the pace of easing with a 25 basis-point cut in its main interest rate amid an escalation of tensions with the U.S. and a drop in oil. The currency traded 0.4 percent higher at 57.67 per dollar in Moscow, paring a weekly drop to ...

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• 17 June

  Don’t ignore ‘currency effect on inflation: Forbes

  Bloomberg Bank of England (BOE) policy maker Kristin Forbes warned that the move in the pound may have a more persistent effect on inflation and a monetary policy response is needed. Forbes, one of three BOE officials to vote for an interest-rate increase this month, said it’s acceptable to look through inflation shocks if they create deviations from trend rather ...

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