August, 2016

• 18 August

  ECB scarcity headache a virtuous cycle for bondholders

  

    Bloomberg A potential headache for the European Central Bank is turning out to be a boon for holders of Germany’s negative-yielding bonds. For ECB officials looking for ways to avert a potential shortage of securities to acquire for their asset-purchase program, the publication of Germany’s draft budget Wednesday showing an almost 11 percent drop in planned borrowing wouldn’t have ...

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• 18 August

  VTB quarterly net jumps six fold

    Bloomberg VTB Group, Russia’s second-biggest bank, boosted profit more than sixfold in the second quarter as the financial industry began to recover from a crisis. Net income increased to 16 billion rubles ($250 million) from 2.5 billion rubles a year earlier, the lender said in a statement on its website on Tuesday.Banking industry profits in Russia are heading back ...

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• 18 August

  World’s ‘largest aircraft’ gets off ground

  

    AP A blimp-shaped, helium-filled airship considered the world’s largest aircraft flew for the first time with a short but historic jaunt over an airfield in central England. Engines roaring, the 302-foot (92-meter) Airlander 10 rose slowly into the air from Cardington airfield, 45 miles (73 kilometers) north of London. A hybrid of blimp, helicopter and airplane, it can stay ...

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• 18 August

  Nestle posts sluggish first half profits

  

    Bloomberg Nestle, the world’s largest food company, on Thursday reported a 9.1 percent fall in profits through the first six months of 2016, but said its sluggish performance should be reversed in a strong second half. The firm posted 4.1 billion Swiss francs ($4.3 billion, 3.9 billion euros) in profits through the first half of the year, a step ...

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• 18 August

  Wal-Mart Q2 sales top estimates, boosted by online earnings

  

  Bloomberg Wal-Mart Stores Inc. increased its annual earnings forecast after second-quarter results topped analysts’ estimates, a sign the world’s largest retailer is pulling business away from rivals such as Target Corp. Sales at U.S. Wal-Mart stores open more than 12 months rose 1.6 percent last quarter, which ended July 31, the Bentonville, Arkansas-based company said in a statement Thursday. The ...

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• 18 August

  SingTel to invest $1.8bn in Thailand, India groups

  AFP Singapore Telecom said on Thursday it will spend $1.8 billion to take a stake in Thailand’s Intouch and raise its share of India’s Bharti, boosting its access to fast-growing Asian and African mobile markets. SingTel, Southeast Asia’s biggest telecom group by revenue, will acquire 21 percent of Intouch and an additional 7.39 percent in Bharti Telecom from state-linked investment ...

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• 18 August

  China home price gains cool in July

  

    Bloomberg Chinese home prices gained in fewer cities as local governments joined some of the nation’s largest hubs in imposing residential property curbs to quell soaring real estate values. New-home prices excluding government-subsidized housing gained in 51 cities last month, from 55 in June, among the 70 the government tracks, the National Bureau of Statistics said on Thursday. Prices ...

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• 18 August

  Blackstone to buy $620mn New York apartment

  Bloomberg Blackstone Group LP is close to an agreement to buy an eight-building apartment complex on Manhattan’s east side, for $620 million, cementing its position as one of New York’s largest residential landlords, according to a person with knowledge of the talks. The New York-based firm, the world’s largest manager of alternative assets, is planning to buy Kips Bay Court ...

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• 18 August

  NYC apartment tower sans tenants on sale

  

    Bloomberg A newly built apartment tower in the Long Island City neighborhood of Queens hasn’t yet opened to the public nor found a single tenant, but the building is for sale. The developer, Property Markets Group, has put the 45-story tower at 23-01 42nd Road on the market to take advantage of investor demand to own apartments in the ...

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• 18 August

  Tencent’s splurge on entertainment pays off

  

    Bloomberg Tencent Holdings Ltd.’s shopping spree on premium content from Game of Thrones to NBA broadcasts has again helped defy investors’ expectations and a slowing Chinese economy. Second-quarter sales and profit beat analysts’ estimates as the operator of the WeChat and QQ social network services splashed out on mobile games and content — including anything from anime and comics ...

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