October, 2016

• 17 October

  Supervalu to sell Save-A-Lot for $1.37bn

  AP Supervalu Inc. agreed to sell the Save-A-Lot grocery chain to Canada’s Onex Corp. for $1.37 billion in cash and will use the proceeds to repay debt. As part of the deal, Supervalu will provide services such as payroll and merchandising technology to Save-A-Lot for five years, the Minneapolis-based company said. The company expects to complete the deal by Jan. ...

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• 17 October

  PepsiCo steps up push to reduce reliance on sugary drinks

  

    Bloomberg PepsiCo Inc. ramped up its pledge to reduce the number of sugary beverages it sells over the next decade as governments increasingly tax soft drinks and fruit juices in an attempt to reduce obesity and diabetes. At least two-thirds of the company’s beverage volume will have no more than 100 calories from added sugars per 12-ounce serving by ...

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• 17 October

  Strong currency allows Bank Indonesia to build reserves

  

    Bloomberg Southeast Asia’s best-performing currency is giving Indonesia’s central bank the opportunity to continue increasing foreign reserves from a four-year high, a senior official said. “If we see the chance to build our reserves, then surely we will take advantage of it,” Doddy Zulverdi, Bank Indonesia’s executive director for monetary management, said in an interview at his Jakarta office ...

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• 17 October

  Qatar central bank offers $825 million government bonds

  

    DUBAI / DOHA / Reuters Qatar’s central bank is offering 3 billion riyals ($825 million) of government bonds in its third domestic bond sale this year, according to a circular seen by Reuters. Bids for the latest offer were due on Monday, with allocations to be made the following day, according to the offer document. The offer is made ...

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• 17 October

  Kuwait’s NBK profit rises 6.5% in Q3

  

    Kuwait City / AFP National Bank of Kuwait, the emirate’s largest lender, said on Monday its third quarter net profit rose 6.5 percent mainly thanks to growing public spending despite low oil revenues. The bank posted a net profit of 68.7 million dinars ($227.5 million) for July to September this year compared to 64.5 million dinars ($213.6 million) for ...

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• 17 October

  ICICI Bank surges 7.32% on Essar-Rosneft deal

    Bloomberg ICICI Bank Ltd., India’s largest private-sector bank, rose the most in six months in Mumbai stock trading on optimism the lender will recover some of its loans to the Essar Group. Shares of the bank rose 6.5 percent to 257.55 rupees, while the locally listed stock of Standard Chartered Plc, also owed money by Essar, gained 2 percent. ...

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• 17 October

  Morgan Stanley ends bearish bet on break-even rates

  

    Bloomberg Morgan Stanley is abandoning a prediction that U.S. break-even rates will fall as the outlook for prices in the world’s biggest economy surge to the highest level in five months. The yield difference between 30-year Treasury bonds and similar-maturity inflation-protected securities headed for the highest closing level since May. The measure, an outlook for consumer prices known as ...

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• 17 October

  Now, Apple looks to smarter screens

  

  Bloomberg Pick up a high-end smartphone these days and chances are it will have a crisp, energy-sipping organic LED display — unless it’s an iPhone. That will change next year, when Apple Inc. plans to adopt the technology for the next major upgrade to its flagship product. To do so, the Cupertino, California-based company will have to get its hands ...

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• 17 October

  Electric car revolution not until 2025

    Relaxnews Though the future of personal mobility will be electrically driven, don’t expect to see traditional gas stations disappearing into the automotive history books any time soon. “There will be no such thing as a ‘one-size-fits-all’ solution,” said Klaus Fröhlich, Member of the Board of Management at BMW AG, Development. “We see the approach of using myriad [drivetrain] technologies ...

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• 17 October

  Disney’s Iger sees company’s future in adopting tech

  

    Relaxnews Walt Disney Co. Chief Executive Officer Bob Iger said the company’s future lies in using technology to make more direct connections to consumers, although he declined to say whether he was interested in buying Twitter Inc. or Netflix Inc. The following are excerpts from Iger’s remarks at the Boston College Chief Executives Club. Iger, 65, made the remarks ...

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