May, 2017

• 7 May

  How zombie firms stop productivity growth

  

      The global economy is picking up steam, but that’s deceptive. The foundations of expansion are soft, marked by weak productivity growth and inequality. The two are related. The productivity problem confronting the world’s advanced economies predates the financial crisis more than a decade ago. When we look beyond the headline statistics, patterns emerge. Advanced economies have become less ...

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• 7 May

  Buffett’s wish list? We crunched some numbers

  

    Warren Buffett’s war chest is ready for his next deal — maybe even his biggest one yet. The company’s cash swelled to $86.4 billion at the end of 2016, and at this rate it means even takeovers in the $100 billion ballpark are conceivable, as my colleague Noah Buhayar wrote for Bloomberg News this week. He flagged Costco Wholesale ...

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• 7 May

  Mall owners fighting web stores turn to carnivals

  

    Malls are fighting for shoppers with one thing their web rivals can’t offer: parking lots. With customer traffic sagging, US retail landlords are using their sprawling concrete lots to host events such as carnivals, concerts and food-truck festivals. They’re aiming to lure visitors with experiences that can’t be replicated online — and then get them inside the properties to ...

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• 7 May

  Dubai’s DSI dips on write-offs

  

    DUBAI / Reuters Shares of Dubai builder Drake & Scull (DSI) slumped to a 14-month low in heavy trade on Sunday as investors reacted to the company’s revised capital restructuring plan, while last week’s fall in oil prices knocked down oil-sensitive shares. Dubai’s stock index fell 1.0 percent as DSI plummeted 9.9 percent to 0.399 dirham after a shareholder ...

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• 7 May

  Shareholders revolt against Pearson CEO’s $2mn pay

  

    Bloomberg Pearson Plc Chief Executive Officer John Fallon suffered the largest shareholder rebellion so far this year in the UK, with about 61 percent of votes cast against the education company’s pay report at the annual general meeting. The vote on the report, which covers pay for 2016 and includes share awards, isn’t binding and doesn’t require the company ...

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• 7 May

  SocGen profit drops after $1bn Libya legal settlement

  

    Bloomberg Societe Generale SA agreed to pay 963 million euros ($1.05 billion) to settle a legal dispute with the Libyan Investment Authority (LIA) over alleged bribery, averting a trial and prompting a surprise drop in profit. The French bank and LIA reached a deal to resolve “all matters between both parties” related to five transactions between 2007 and 2009, ...

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• 7 May

  RAKBANK, C3 deal brings innovative payroll solutions to UAE

    Dubai / Emirates Business C3 and RAKBANK have signed a partnership to provide a 360-degree payroll solution serving both banking and non-banking individuals and companies. The signing, which took place on May 1 at Seamless Middle East at The World Trade Centre in Dubai, is expected to drive financial inclusion and open up new markets. RAKBANK’s RAKMoneyTransfer will be ...

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• 7 May

  Deutsche Bank staff London’s saddest after 2016 bonus cuts

  

    Bloomberg Less than a quarter of London’s investment bankers were pleased with their 2016 bonuses, with staff at Deutsche Bank AG the most disgruntled after Chief Executive Officer John Cryan slashed discretionary compensation for many top traders and advisers. By a small margin, those at JPMorgan Chase & Co. were happiest. Some 61 percent of the German bank’s employees ...

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• 7 May

  Stricken Alitalia debts totalled $3.3bn at end of February

  

    MILAN /Reuters Loss-making airline Alitalia, which asked to be put under special administration, had debts of around 3 billion euros ($3.3 billion) as of the end of February, Italy’s government said. In a document marking the opening of the special administration process and the appointment of three commissioners to run the airline, the government said Alitalia had current liabilities ...

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• 7 May

  Singapore Air may land unusual net-debt spot

  

    Bloomberg A record plane-buying spree is poised to land Singapore Airlines Ltd. in an unfamiliar territory. Southeast Asia’s biggest carrier is expected to turn to a net-debt position as early as 2018 — for the first time in 13 years — as the company borrows money and sells bonds to meet capital expenditure needs, analysts say. Singapore Air, which ...

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