September, 2016

• 27 September

  Barclays to reduce office space in Tokyo

  

    Bloomberg Barclays Plc will reduce office space at its loss-making Japanese securities unit to trim expenses after cutting jobs earlier this year. The UK bank, which rents two floors of the Mori Tower in Tokyo’s Roppongi Hills office complex, will vacate about half of the 31st floor as early as this year while keeping its space on the 32nd, ...

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• 27 September

  AmEx can bar merchants from steering users to rival cards

  

    Bloomberg American Express Co. can prohibit merchants from steering customers to credit cards with lower transaction fees, a federal appeals court ruled in a blow to businesses trying to reduce annual card fees that run around $50 billion. The decision by the appeals court in Manhattan is the most definitive ruling on AmEx’s relationship with merchants. A federal judge ...

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• 27 September

  Tanker brings first US shale gas shipment to Britain

  

    Grangemouth / AFP A tanker carrying the first shipment of shale gas from the United States arrived on Tuesday in Britain, where there are currently no commercial fracking operations because of fierce public opposition. The ship arrived at Grangemouth, a sprawling energy complex on the River Forth near Edinburgh in Scotland, where the North Sea offshore oil and gas ...

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• 27 September

  Russian wheat exports disappoint as low prices slow farmer sales

  

    Bloomberg Russian wheat exports haven’t lived up to expectations so far this season as falling prices made some growers reluctant to sell grain to traders amid a halt in purchases by Egypt, the world’s largest buyer. Outbound shipments in the three months since the campaign started in July will probably amount to 9 million metric tons, down 8 percent ...

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• 27 September

  Default legacy haunts Argentina as German suit looms large

  

    Bloomberg Argentina is about to find itself in yet another legal dispute with disgruntled creditors. A group of European investors who own defaulted Argentine debt plan to sue the country in Germany as soon as next month after they were excluded from a settlement offer, said Jakob Heichele, a Munich-based attorney at a law firm that bears his name ...

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• 27 September

  Brexit may spark ‘substantial’ London home correction: UBS

    Bloomberg London’s housing market faces severe price declines if the U.K.’s vote to leave the European Union triggers an extended period of economic weakness, according to UBS Group AG. A severe recession could halt the “unsustainable price growth fueled by ample liquidity and tight supply,” UBS said in a report accompanying its Global Real Estate Bubble Index. London is ...

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• 27 September

  Fizzy drinks maker bitter over UK sugar tax

    London / AFP Soft drinks giant A.G. Barr, maker of Scotland’s famous Irn-Bru fizzy drink, slammed the British government Tuesday over its proposed sugar tax against obesity, as it reported falling sales. Barr — whose brands include carbonated drink Tizer and Rubicon juices — said there had been a move towards sugar-free drinks in the face of “negative media ...

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• 27 September

  Germany blocks WhatsApp data transfers to FB

    Berlin / AFP German data protection authorities on Tuesday said they had blocked Facebook from collecting subscriber data from its subsidiary WhatsApp, citing privacy concerns. Facebook and WhatsApp promised in the wake of the Silicon Valley giant’s 2014 acquisition of the messaging app that they would not share data, Hamburg’s Commissioner for Data Protection and Freedom of Information Johannes ...

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• 27 September

  Clinton-fuelled stocks rally slips on oil concern

  

    London /AFP A stocks rally triggered by Hillary Clinton’s upbeat performance in the first US presidential debate over Republican rival Donald Trump slid away on Tuesday on a dim outlook for an oil deal. In Asia, indices closed with solid gains as a confident Clinton bested her rival in the 90-minute showdown, but in Europe the gains were short-lived ...

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• 27 September

  Saudi stocks drop most after kingdom cuts pay, bonuses

    Bloomberg Saudi Arabian stocks fell more than any other market in the world as the kingdom announced fresh measures to narrow the budget gap. Not a single stock rose on the Tadawul All Share Index, which retreated 3.8 percent on Tuesday, the most since for a single session since January. The hotel and media indexes were the biggest decliners ...

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