May, 2017

• 13 May

  Sprint, SoftBank in informal deal talks with T-Mobile

  

  Bloomberg Sprint Corp. has started preliminary conversations to merge with T-Mobile US Inc., the latest attempt to consolidate in a market watched closely by US regulators, according to people familiar with the matter. Executives of both SoftBank Group Corp., Sprint’s largest shareholder, and Sprint itself have had informal contact with T-Mobile owner Deutsche Telekom AG about a transaction, said the ...

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• 13 May

  Home Capital warns of ‘knock-on effects’ if it fails

  

  Bloomberg Home Capital Group Inc. said it’s seeking new sources of funding to counter a run on deposits and warned a failure of the Canadian lender would have “significant knock-on effects” in the mortgage market. The struggling lender has “breathing room” to stabilize finances and pursue options following an C$1.8 billion ($1.3 billion) plunge in deposits and a 60 percent ...

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• 13 May

  Working class has blues, and elites lack answers

  

  With Brexit and the election of Donald Trump, there’s a widespread belief that populism is on the rise in the developed world. Writers and thinkers darkly warn of a crisis if elites don’t accede to the demands — explicit or assumed — of the working class. As I wrote in a previous post, it’s very hard to define whom to ...

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• 13 May

  Wells Fargo is having a hard time pleasing anyone

  

  Wells Fargo & Co. is having a hard time pleasing anyone. At its annual investor day, the second-largest US lender by market value lifted the targeted annual savings figure from its cost-cutting program to $4 billion from $2 billion by the end of 2019. The move, which was flagged by analysts after hints from the bank itself, comes after Wells ...

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• 13 May

  This levy won’t break Australia’s healthy bank profits

  

  Ask Australians what they hate about their big four banks, and you get a familiar litany of complaints. Borrowing rates are too high, and deposit rates too low. Profits — almost A$23 billion ($17 billion) in the most recent fiscal year — are obscenely fat. Slick sales types promote financial products to under-informed punters without disclosing the full risks. Other ...

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• 13 May

  US and Europe to hold talks on broadening airline laptop ban

  

  Bloomberg US Homeland Security Secretary John Kelly will meet with European Commission officials in Brussels next week to discuss prohibiting passengers bound for America from carrying laptops and other electronic devices in airliner cabins. Kelly talked with European commissioners Dimitris Avramopoulos and Violeta Bulc. Even though European airports and airlines are preparing for a ban, no action has been announced ...

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• 13 May

  Etihad appoints new country manager for Sudan

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates (UAE), on Saturday announced the appointment of Ali Ghanim Hadi as its new country manager for Sudan. Based at the airline’s Khartoum office, Hadi will be responsible for leading Etihad Airways’ commercial operations in Sudan, one of the airline’s longest-established markets. With over four years ...

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• 13 May

  Boeing’s 737 Max returns to flight as first plane delivery looms

  

  Bloomberg Boeing Co. resumed flights of its new 737 Max jetliners on a limited basis Friday, setting the stage for the first commercial delivery after a potential engine flaw temporarily grounded the single-aisle aircraft. Regulators cleared the planes to fly as long as they’re powered by spare engines that don’t include the possibly defective part, Boeing spokesman Doug Alder said. ...

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• 13 May

  Qantas finds loyalty pays better than selling plane tickets

  

  Bloomberg A once-unwanted Qantas Airways Ltd. division with no planes or passengers is turning into the Australian airline’s biggest money spinner. Qantas’ frequent-flyer business, earmarked for sale at least twice, has delivered consistent growth since the airline’s historic loss in 2012. Now Chief Executive Officer Alan Joyce is hatching more ambitious plans for his most profitable unit. Joyce expects the ...

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• 13 May

  Cityland Mall unveils Fabyland as entertainment provider

  Dubai / Emirates Business Cityland Mall – UAE’s first nature-inspired mall scheduled for launch in the second quarter of 2018 beside Global Village announced Fabyland as its official family entertainment provider. Fabyland, a brand under ‘Al-Othaim Leisure & Tourism Co.’, is a ‘futuristic’ family entertainment destination that has a wide variety of compelling rides and games. Fahimuddin Sharfuddin, Chief Executive ...

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