February, 2017

• 2 February

  Vodafone Q3 profit falls as Indian competition crimps forecast

    Bloomberg Wireless carrier Vodafone Group Plc forecast full-year profit at the low end of its previous range, saying investments required to prop up its Indian unit will continue to hurt results as it negotiates to combine the business with a rival. “We anticipate intense competitive pressure in India in the fourth quarter and are taking a series of commercial ...

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• 2 February

  Airbus calls in the movers as power shifts to new HQ

  

    PARIS / Reuters After top-level restructuring at Airbus come the musical chairs and a new logo intended to convey unity as the European giant aims to refocus its management without a return to past infighting. In a symbolic move, the man in charge of making Airbus jets has reluctantly agreed to leave his office by the vast factories in ...

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• 2 February

  Deutsche Bank falls as client jitters hit trading in quarter

  

    Bloomberg Deutsche Bank AG fell the most in four months after earnings missed analysts’ estimates, in part because clients stepped back from doing business with the lender amid concern about its financial strength. The stock slumped as much as 7.1 percent, the most since September, after revenue from debt trading, its biggest source of income, fell short of estimates ...

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• 2 February

  Coutts fined $6.57mn over money-laundering

  

    Bloomberg Switzerland’s financial regulator fined Coutts & Co. Ltd. for violating money-laundering rules and illegally profiting from transactions associated with Malaysian sovereign wealth fund 1Malaysia Development Bhd. Coutts, owned by Royal Bank of Scotland Group Plc, allowed a total of $2.4 billion worth of 1MDB-related assets to flow through accounts in Switzerland even though it had good reason to ...

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• 2 February

  ING fourth-quarter profit rises to $1.49bn

    Bloomberg ING Group NV, the largest Dutch lender, said profit jumped 68 percent, more than analysts expected, as wholesale lending revenue rose while costs and bad-loan provisions fell. Underlying profit rose to 1.38 billion euros ($1.49 billion) in the fourth quarter from 822 million euros in the previous year, the Amsterdam-based bank said in a statement on Thursday. That ...

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• 2 February

  Banks make ‘risk’ lucrative with bets for hedge funds

  

    Bloomberg Complex debt trades that started as a way for lenders to reduce their loan exposure are becoming a business opportunity for some of the world’s biggest investment banks. Others are worried they could become another source of systemic risk. Nomura Holdings Inc. and Credit Suisse Group AG are among the most-active firms earning high fees by providing loans ...

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• 2 February

  Learning the power of positive thought

  

    JUBA / AP Warnings of possible genocide hang over the world‘s youngest nation, but here on a basketball court under a fierce morning sun, South Sudan‘s civil war seems like another country. Flashing up and down the court in blue and yellow jerseys, the players laugh and sweat as their wheelchairs jostle for position. This wheelchair basketball tournament in ...

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• 2 February

  Helping migrants gives him ‘peace of mind’

  

    BELGRADE / DPA Yaser Harawi wasn’t too happy when his father sent him to study in Serbia rather than the US or Canada. Years later, the Syria-born doctor thinks it was a touch of fate. The 51-year-old from Damascus, who’s lived in Serbia for more than 30 years, has found meaning in helping Syrian and other migrants passing through ...

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• 2 February

  China oil trader’s Mideast spree shakes up world crude flows

  

    Bloomberg Crude purchases in one corner of the oil market by a Chinese trader are contributing to the shake-up of supply flows across the globe. China National United Oil Co. last month bought at least 7 million barrels of Middle East crude for March loading as part of an assessment process operated by Platts used to set price benchmarks, ...

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• 2 February

  World’s biggest solar-thermal plant making enough power

  

    Bloomberg The world’s biggest solar-thermal power plant is finally producing enough electricity. The Ivanpah Solar Electric Generating System in Southern California initially failed to meet contractual obligations, and a yearlong forbearance deal with Pacific Gas & Electric Co. expired Wednesday. After fine-tuning the complex facility that uses 170,000 mirrors, output is up and it’s no longer at risk of ...

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