January, 2017

• 1 January

  Paschi rescue expected to cost Italy €6.6bn

  

    Bloomberg Italy’s rescue of troubled lender Banca Monte dei Paschi di Siena SpA will cost the government about 6.6 billion euros ($7 billion), the country’s central bank says, providing the first official estimate of public funding. About 4.6 billion euros are needed to meet capital requirements and 2 billion euros would be required to compensate the lender’s retail bondholders, ...

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• 1 January

  Nomura to deepen cost cuts as CEO seeks to keep ship afloat

  

    Bloomberg The code name chosen for Nomura Holdings Inc.’s latest cost-cutting drive indicates how strongly its chief executive sees the need for savings at Japan’s largest brokerage. After slashing hundreds of overseas jobs since April, CEO Koji Nagai has unveiled his so-called “Waterline Project,” which will attempt to combat waste and improve the cost-effectiveness of the bank’s daily operations ...

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• 1 January

  Bonds in India see best year since 2008

  

    Reuters India’s benchmark sovereign bonds are set to cap their best performance since the global financial crisis amid record debt purchases by banks, the biggest holders of government securities. Lenders gorged on debt this year as the central bank boosted cash availability in the financial system and deposits surged following the government’s recall of high-value currency notes. That, along ...

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• 1 January

  CBQ to launch rights issue on January 8

    DUBAI / Reuters Commercial Bank of Qatar (CBQ) will open subscriptions for a 1.5 billion riyals ($412 million) rights issue on January 8, the Gulf state’s third-largest lender by assets said. The subscription period for shareholders and holders of subscription rights will run until 1 p.m. Doha time (1000 GMT) on Jan. 22, the bank said in a statement. ...

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• 1 January

  Is humanoid robot Pepper still not practical?

  

    Bloomberg While merrily chirping, dancing and posing for selfies, a robot named Pepper looks like another expensive toy at a San Francisco mall. But don’t dismiss it as mere child’s play. Pepper embodies the ambitions of SoftBank Robotics, an Asian joint venture formed by a trio of major technology companies that’s aiming to put its personable robots in businesses ...

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• 1 January

  Twitter CEO solicits product feedback as he takes larger role

  

    Bloomberg Jack Dorsey wants Twitter Inc.’s users to know he’s listening to them. His tweet soliciting product feedback from users drew hundreds of responses, highlighting concerns with everything from abuse on the site to users’ inability to fix errors after they publish tweets. “We’ll consider everything we heard from you,” Dorsey said Friday on Twitter. “Not going to ship ...

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• 1 January

  Samsung Galaxy Note 7 fiasco draws to a close

  

    Relaxnews Like it or not, it will be increasingly difficult for users of the Galaxy Note 7 to use their smartphones. In the wake of limits imposed on the phablet’s recharging capacity, the South Korean manufacturer has now issued a further software update, for the moment confined to the United States and Malaysia, that will definitively prevent the Galaxy ...

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• 1 January

  New wood technology offers hope for struggling timber

  

    RIDDLE / AP John Redfield watches with pride as his son moves a laser-guided precision saw the size of a semi-truck wheel into place over a massive panel of wood. Redfield’s fingers are scarred from a lifetime of cutting wood and now, after decades of decline in the logging business, he has new hope that his son, too, can ...

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• 1 January

  Last-minute outfit ideas to go chic

  

    Relaxnews In the last-minute hunt for gifts, outfit ideas may be the last thing on your mind this Holiday season. But fear not — from the little black dress to chic jumpsuits and pantsuits, fashion labels have been particularly creative this year, turning wardrobe classics into stylish and sophisticated ensembles for festive revelers. Holiday is no excuse for a ...

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• 1 January

  Hottest fashion promotions of 2016

    Relaxnews 2016 was a turbulent and exciting year for the fashion industry. As well as the increasing numbers of brands shunning the traditional fashion week timetable for unisex catwalk shows or see-now-buy-now collections, there was a considerable amount of reshuffling amongst the top ranks. Here is a recap of the hottest promotions of the past 12 months. LANVIN The ...

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