December, 2016

• 11 December

  Iran signs $16.6 billion deal to buy 80 planes

    AFP / Reuters Iran Air said on Sunday it had finalised a contract to buy 80 planes from US firm Boeing, the official IRNA news agency reported. “Fifty of the planes are 737 and the other 30 are the long haul 777 that will be delivered to Iran Air in a period of 10 years,” said Farhad Parvaresh, chief executive ...

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• 11 December

  McDonald’s moves tax base to London

  

    Bloomberg McDonald’s Corp. shrugged off Brexit by announcing plans to switch its non-U.S. tax base to the UK, ditching tiny Luxembourg where its fiscal arrangements are under attack from European Union regulators. In an apparent vote of confidence in the U.K., the hamburger giant said it’s creating a new international holding company based in Britain, which decided in June ...

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• 11 December

  Alaska Air wins US approval for Virgin America takeover

  

    Bloomberg Alaska Air Group Inc. won U.S. antitrust approval for its acquisition of Virgin America Inc., a takeover that extends years of consolidation in the industry and expands Alaska Air’s access to the lucrative cross-country market. Under an agreement with the Justice Department announced, Alaska Air must reduce the scope of a marketing accord that allows it to sell ...

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• 11 December

  Global airline profits set to slide back from record

  

    Bloomberg Global airline earnings are set to decline next year after reaching a record in 2016 as higher oil prices clip margins, according to the industry’s main trade group. Net income across the sector is likely to total $29.8 billion in 2017, the International Air Transport Association said. That’s 16 percent lower than the $35.6 billion forecast for this ...

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• 11 December

  Wells Fargo seeks quiet end to fake-accounts scandal

  

    Bloomberg Wells Fargo & Co.’s attempt to force aggrieved customers into closed-door arbitration over its fake-accounts scandal is drawing a legislative backlash in its home state of California and risks subjecting the bank to another round as a public punching bag. Following pledges at Capitol Hill hearings and in advertisements that it would rebuild customer trust, the San Francisco-based ...

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• 11 December

  ECB denies Monte dei Paschi more time to find funding

  

    Milan / AFP Italy’s Monte dei Paschi di Siena saw its stock tumble more than 12 percent over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down. The world’s oldest bank had asked the European Central Bank for two more weeks to find the funds, saying political instability created ...

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• 11 December

  Bundesbank lifts German growth outlook for 2016, 2017

    Berlin / AFP Europe’s largest economy Germany is “on a sound upward path” for faster-than-expected growth in 2016 and 2017, its central bank said, but remains at risk from Donald Trump and Brexit. Germany’s “main driver is buoyant domestic demand, which is being bolstered by the favourable situation in the labour market and by rising household income,” Bundesbank president ...

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• 11 December

  Banks in UK plan Paris move on Brexit

    London / AFP International banks have enquired about switching operations from London to Paris following Britain’s vote in favour of exiting the European Union, according to a senior official at France’s markets regulator. “Large international banks… have already undertaken real due diligences and we have received a lot of practical questions regarding the way they are going to be ...

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• 11 December

  Rupee carry appeal boosted by India rate surprise before Fed

  

    Bloomberg Here’s a silver lining for India’s bond bulls stung by losses after the central bank’s surprise decision not to cut benchmark interest rates — better rupee outlook. Analysts say the Reserve Bank of India panel’s move to hold rates, which caused the benchmark 10-year yield to jump the most since 2013, could revive overseas demand for rupee debt ...

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• 11 December

  Microsoft unveils Windows 10 for Qualcomm chips

  

    Bloomberg Microsoft Corp. is creating a version of the Windows 10 operating system that will run on laptops powered by Qualcomm Inc. chips, a move that could erode Intel Corp.’s dominance in PCs and help the software maker gain a bigger foothold in mobile computing. Chips from Qualcomm, the largest maker of semiconductors used in phones, are designed to ...

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