September, 2016

• 8 September

  As new space age dawns, China and US must cooperate

    When NASA officials recently dropped in on their counterparts in Beijing, they arrived in secret, issued no press release and, when queried by a reporter, initially didn’t acknowledge the meeting. The topic of such furtive talks? The two sides merely hoped to work together on climate satellites. As it happens, doing so may well be illegal. Since 2011, Congress ...

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• 8 September

  Ocean economy needs urgent protection

    Small low-lying islands are vulnerable even to mild climate swings. The monster of global warming is posing an existential threat to them. The annual regional summit of 16-nation Pacific Islands Forum (PIF), which kicked off on Thursday, saw an upbeat start despite the clouds of uncertainty hovering over these countries. Reason behind the euphoria: They felt that they had ...

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• 8 September

  You’ll miss what you don’t use on the new iPhone

  

  You’ve probably been thinking to yourself, “Gee, I wish I couldn’t charge my phone while also listening to music.” Or perhaps, “Gosh, if only my headphones were more expensive, easier to lose and required frequent charging.” If so, you’re in luck. Apple’s newest iPhone, unveiled on Wednesday, lacks the familiar 3.5-millimeter headphone jack. You can listen to music through the ...

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• 8 September

  Obama’s pivot to Asia has failed to deter China

  

  It is tragic and fitting that President Barack Obama’s latest failure to reach a cease-fire in Syria would take place at Hangzhou, China, on the sidelines of the G-20 summit Monday. It’s tragic because this latest diplomatic flop in Syria will mean the death toll in that civil war, already at a staggering 400,000, will grow. It’s fitting, though, because ...

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• 8 September

  In global banking, apps and security don’t mix

  

    The greatest bank robberies happen from the inside, Manchurian-Candidate style, where a sleeper agent infiltrates an organization and collects intelligence until it’s time to strike. Such was the case in the Bangladesh bank heist. Back in February, Bangladesh’s central bank revealed that it had fallen victim to an $81 million theft. (Actually, the Philippine Daily Inquirer broke the news ...

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• 8 September

  ECB holds rates steady but warns of Brexit ‘uncertainties’

  

    FRANKFURT/ AFP The European Central Bank kept its interest rates at record lows on Thursday and held fire on more economic stimulus, but warned of “uncertainties” ahead for the eurozone over the Brexit vote. Describing the ECB’s current ultra-loose monetary policy as “effective”, bank chief Mario Draghi said policymakers stood ready to take future action if needed to push ...

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• 8 September

  ‘Serious’ blow to London banks if UK quits single market: EU

  

    FRANKFURT/ AP The EU will not allow Britain to cling to advantages for its financial industry while blocking free movement of labour in the wake of Brexit, commissioner Valdis Dombrovskis warned on Thursday. “We cannot tolerate cherry-picking,” the Brussels financial services chief told German business daily Handelsblatt. “It’s up to the British government. If it decides not only to ...

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• 8 September

  Newest Canadian bank to woo Chinese clients

  

    Bloomberg Canada’s newest bank aims to woo Chinese Canadians with high-interest savings accounts, term deposits and mortgages in the nation’s two hottest housing markets. Wealth One Bank of Canada wants to become the preferred bank for Canada’s Chinese community, said Chief Executive Officer Charles Lambert. The closely held lender, which has about 30 employees and started taking deposits in ...

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• 8 September

  Africa’s biggest bank drops as profit misses estimate

  

    Bloomberg FirstRand Ltd., Africa’s biggest bank by market value, fell after full-year profit missed estimates as the company invested in an expansion on the continent and loan-impairment charges rose. Earnings excluding one-time items rose to 22.4 billion rand ($1.6 billion) in the 12 months through June from 21.1 billion rand a year earlier, Johannesburg-based FirstRand said in a statement ...

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• 8 September

  HSBC may face US charge upending settlement

  

    Bloomberg US prosecutors are considering a criminal charge against a unit of HSBC Holdings Plc related to conduct on its foreign-exchange desk, according to two people familiar with the matter, imperiling an earlier deal that let the bank avoid prosecution. The Justice Department has already charged two people who were on the bank’s foreign-exchange desk with improper trading and ...

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