September, 2016

• 17 September

  Under fire Trump admits Obama is American

  

    Washington / AFP After years of fuelling conspiracy theories, Republican White House nominee Donald Trump admitted that President Barack Obama is an American as he tried to neutralize damaging charges of racism. But he also stepped up attacks against his Democratic rival Hillary Clinton, accusing her of initiating the doubts about Obama and later raising the specter of violence ...

  Read More »
• 17 September

  Non-aligned summit opens in crisis-torn Venezuela

  

    Porlamar / AFP The Non-Aligned Movement opens a summit on Saturday in Venezuela, seeking relevance in a post-Cold War world as the crisis-torn host country seeks to lessen its growing isolation. Leaders from the 120-nation group will gather for two days on the Caribbean island of Margarita, where Venezuela will take over the movement’s rotating presidency from Iran. Venezuela, ...

  Read More »
• 17 September

  IDBI Bank selects arrangers for $896 million share sale

  

    Bloomberg IDBI Bank Ltd., the state-backed Indian lender, picked arrangers including Citigroup Inc., Credit Suisse Group AG and Deutsche Bank AG to manage a share sale of about 60 billion rupees ($896 million), people with knowledge of the matter said. The Mumbai-based bank also chose HSBC Holdings Plc, JPMorgan Chase & Co., SBI Capital Markets Ltd. and IDBI Capital ...

  Read More »
• 17 September

  Canada Bank to generate 10% profit from global business

  

    Bloomberg National Bank of Canada seeks to generate at least 10 percent of profit from its international business by 2020, while looking to expand its stakes in Africa and Asia lenders into controlling positions, Chief Executive Officer Louis Vachon said. “We are looking to complement our Canadian growth — not substitute, but complement our Canadian growth — with a ...

  Read More »
• 17 September

  BBVA to cut 35 banking posts to reduce costs

  

    Bloomberg Banco Bilbao Vizcaya Argentaria SA is reducing its corporate and investment banking staff in the U.S. by about 10 percent as Spain’s second-biggest bank streamlines its business to focus on core clients. About 35 employees will leave the bank’s CIB business at BBVA’s offices in New York, Houston and Dallas, a spokesperson for the Bilbao, Spain-based bank said ...

  Read More »
• 17 September

  US, European stocks weighed down by banking woes

    AFP US and European stock markets retreated, as banking shares led by Deutsche Bank slumped on news US authorities were hunting down Germany’s biggest lender over a record fine. Frankfurt’s DAX 30 was the hardest hit, closing down 1.5 percent, while the Paris CAC 40 shed nearly 1.0 percent from Thursday. London’s benchmark FTSE 100 index lost 0.3 percent, ...

  Read More »
• 17 September

  European banks fall as prospect of billion-dollar fines loom

  

    Bloomberg Investors in Europe’s biggest banks, frustrated with the problems of today, just got a reminder that the lenders still have to pay for the sins of the past. Shares in Credit Suisse Group AG, Royal Bank of Scotland Group Plc, Barclays Plc and UBS Group AG fell after Deutsche Bank AG disclosed that the US Department of Justice ...

  Read More »
• 17 September

  Wells Fargo slammed in customer suit over account abuses

  

    Bloomberg Wells Fargo & Co. was sued by customers in what may be the first of many lawsuits to come after disclosures that employees created unauthorized accounts to boost the bank’s fees. Three Utah customers sued the bank in federal court, blaming the scandal on the lender’s push to increase the number of accounts held by clients to an ...

  Read More »
• 17 September

  Obama to review military strategy against IS extremists

  

    WASHINGTON / AP President Barack Obama will review military strategy against the IS group, press nations to admit more refugees and review progress around the world, despite new challenges, when he makes his final appearance at the UN General Assembly session in New York next week, the White House said. On the sidelines of the session, Obama has scheduled ...

  Read More »
• 17 September

  IS sex slavery survivor named UN goodwill ambassador

  United Nations / AFP A young Iraqi woman who survived rape and abuse as a sex slave of IS extremists became a UN goodwill ambassador for the dignity of survivors of human trafficking. Nadia Murad Basee Taha, a 23-year-old Yazidi woman, called for justice for the victims of the extremist group and argued that the 2014 attack on the Yazidis ...

  Read More »