March, 2017

• 20 March

  China’s Shenhua Energy surges after special dividend

    Bloomberg China Shenhua Energy Co., the biggest coal miner in the world’s largest producer, jumped the most since 2008 after rewarding investors with a special dividend as it posted its first profit growth in four years. Shares in Hong Kong closed 16 percent higher at HK$19.14, paring earlier gains of more than 20 percent. The city’s benchmark Hang Seng ...

  Read More »
• 20 March

  India hunts for solution to fight bad-debt crisis

  

    Bloomberg If at first you don’t succeed, try, try, try and try again. Indian policy makers appear to have adopted the mantra as they mull setting up a state-run fund manager to resolve stressed assets in the banking system after numerous efforts to fix the problem failed. A “Public Sector Asset Rehabilitation Agency” will help deal with the soured-debt ...

  Read More »
• 20 March

  Game maker Netmarble seeks $2.4bn in IPO

  

    Bloomberg Netmarble Games, South Korea’s largest maker of mobile phone games, filed to raise as much as 2.7 trillion won ($2.4 billion) in an initial public offering. The company will sell 17 million shares at 121,000 won to 157,000 won apiece, Seoul-based Netmarble said in a filing on Monday. Final pricing will be announced on April 24. At the ...

  Read More »
• 20 March

  ‘Canada committed to lowering debt ratio’

  

    Bloomberg Canada’s Finance Minister is sticking by his pledge to lower the nation’s debt ratio, signaling the government won’t push much deeper into deficit when it delivers its budget this week. Bill Morneau said he remains committed to the notion a falling level of debt relative to the total size of the economy shows fiscal prudence. The country’s low ...

  Read More »
• 20 March

  ‘ECB could reduce gap between QE end and rate hike’

  

    Bloomberg European Central Bank Governing Council member Ignazio Visco said the central bank could step away from its commitment to keep interest rates low for a long time after quantitative easing stops. While the ECB’s current guidance foresees that borrowing costs will stay at current or lower levels “for an extended period” and won’t rise until “well past” the ...

  Read More »
• 20 March

  Meetup takes risky leap into Trump resistance

  

    Bloomberg Meetup.com is taking a leap into the Trump resistance. The New York-based networking site will unveil plans in the coming days to partner with a labor group — under the guidance of a former Hillary Clinton aide — to coordinate protests among more than 120,000 activists already involved with anti-Trump Meetup groups. It’s a risky move for a ...

  Read More »
• 20 March

  Canada banks under review on ‘upselling’

    Bloomberg The Financial Consumer Agency of Canada will review the business practices of the country’s banks after reports of tellers allegedly pressuring customers to buy products to meet sales goals. The federal agency, which seeks to ensure financial institutions comply with consumer-protection measures, said Wednesday its next review would begin in April and focus on banks’ practices around express ...

  Read More »
• 20 March

  Swiss watchmakers go ‘smart’ to attract young shoppers

  

    Bloomberg Swiss watchmakers are diving further into the unproven smartwatch market, with Montblanc, TAG Heuer and Tissot seeking to attract younger shoppers with a technology the industry largely snubbed until consumers began turning away from traditional timepieces. TAG Heuer recently unveiled the new generation of a $1,650 smartwatch it makes with partners Google and Intel. Montblanc followed with the ...

  Read More »
• 20 March

  Lessons from Yahoo hack

  

    NEW YORK / AP Many people are still not taking routine precautions to safeguard their email accounts — and hackers are exploiting that. According to US officials who filed charges in a massive Yahoo break-in, Russian hackers didn’t have to work very hard to break into people’s email accounts, even those belonging to government officials or powerful executives. You ...

  Read More »
• 20 March

  Oppo, Vivo founder reveals how he toppled Apple in China

  

    Bloomberg Duan Yongping is convinced Tim Cook didn’t have a clue who he was when they first met a couple years ago. The Apple boss probably does now. Duan is the reclusive billionaire who founded Oppo and Vivo, the twin smartphone brands that dealt the world’s largest company a stinging defeat in China last year. Once derided as cheap ...

  Read More »