May, 2017

• 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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• 13 May

  Cathay Pacific, Cathay Dragon launch ‘Discovery’

  Emirates Business Cathay Pacific and Cathay Dragon launched ‘Discovery’ –a new digital destination where travellers can access and enjoy content from the airlines’ leading inflight magazines, Discovery and Silkroad, wherever they are in the world. Complementing the airlines’ suite of inflight printed publications, the new online platform provides visitors with a broad range of articles and feature stories in a ...

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• 13 May

  CIBC wins approval for $4.9bn takeover of PrivateBancorp

  

  Bloomberg PrivateBancorp Inc. investors approved a $4.9 billion takeover by Canadian Imperial Bank of Commerce (CIBC) after the Toronto-based lender sweetened its deal twice to win over shareholders. The majority of PrivateBancorp shareholders endorsed CIBC’s bid, the Chicago-based lender said in a statement following a vote at a special meeting. Some 52.9 million votes — 83 percent of those cast ...

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• 13 May

  Credit Suisse taps Deutsche’s McGuire amid equities revamp

  

  Bloomberg Credit Suisse Group AG, the Swiss lender struggling to improve performance at its stock-trading unit, replaced one of the business’s top European bankers with a senior executive from Deutsche Bank AG. Stuart McGuire, who runs Deutsche Bank’s client-execution strategy for equities in Europe, the Middle East and Africa, will replace Daniel Kaye as Credit Suisse’s head of cash-equities trading ...

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• 13 May

  Azeri bank halts foreign debt payments

  

  Bloomberg The largest bank in Azerbaijan has halted its foreign debt payments and will start restructuring talks with creditors after a currency crisis in the Caspian Sea nation drove the lender to the brink of collapse. Under a restructuring plan, the International Bank of Azerbaijan said its “designated financial indebtedness” was at $3.3 billion as of April 18. It missed ...

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• 13 May

  SoftBank leads $502mn tech investment in UK

  

  Bloomberg SoftBank Group Corp. is leading a $502 million investment in Improbable Worlds Ltd., a London-based virtual reality startup, in one of the UK’s largest venture capital deals. The valuation wasn’t disclosed. But SoftBank is buying a non-controlling stake, which would mean Improbable is worth at least $1.04 billion. The deal would rank as the fifth-largest UK venture investment in ...

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• 13 May

  Ransom hackers who hit hospitals suffered setback; may return

  

  Bloomberg The cyber-attack that spread rapidly around the globe was stifled when a security researcher disabled a key mechanism used by the worm to spread, but experts said the hackers were likely to return as many computers remain at risk. Hackers can still gain easy access to personal computers that lack a security update issued in March by Microsoft Corp. ...

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• 13 May

  Intel, Samsung gang up on Qualcomm to back FTC monopoly suit

  Bloomberg Samsung Electronics Co. and Intel Corp. weighed in with their own gripes about Qualcomm Inc. while cheering on the US Federal Trade Commission’s lawsuit accusing the chipmaker of trying to corner the market for semiconductors used in smartphones. The South Korean company, one of Qualcomm’s largest customers, and Intel, one of its biggest competitors, filed arguments in support of ...

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• 13 May

  Netmarble rises after Korea’s biggest IPO in seven years

  

  Bloomberg Netmarble Games Corp. rose as investors pursuing a high-growth alternative to traditional industry piled into South Korea’s biggest coming-out party in seven years. Shares in the mobile game developer and publisher ended 3.2 percent higher at 162,000 won in Seoul, after rising as high as 9.2 percent above the initial public offering price. The company now has a market ...

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