July, 2016

• 30 July

  Zero down on a $2mn house is no problem in Silicon Valley

  

    Bloomberg It turns out that even the well-off need help in a housing market as crazy as the one in the San Francisco Bay area, and lenders are elbowing each other in a rush to provide it. They’re courting Silicon Valley workers with tailored loans, guaranteed 24-hour approval and financial-planning services. Social Finance Inc. has deals with Google and ...

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• 30 July

  Oracle purchase of NetSuite will help vie with cloud rivals

  

    Bloomberg Oracle Corp., lagging the competition in cloud-based services, is essentially buying market share with its $9.3 billion acquisition of NetSuite Inc. Oracle has been trying for years to shift from selling software installed on corporate customers’ gear the old way to delivering it over the internet. Yet in its most recent quarter, the company said the cloud division ...

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• 30 July

  Nintendo NX to be fully portable

  

    Relaxnews September brings with it a first reveal of Nintendo’s next home console, and a new report indicates that it will be a tablet-style affair with big screen capabilities. The Nintendo NX will combine handheld and stationary console design standards, with each controller comprising a display “bookended by two [detachable] controllers on each side,” according to a new report. ...

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• 30 July

  Supercomputers deliver $500mn savings for BHP

  

    Bloomberg Supercomputers that create 3-D seismic maps of BHP Billiton Ltd.’s oil and gas assets are accelerating work to bring new fields into production and have already notched savings of $500 million in development costs at a project in the Caribbean. The computers are among initiatives aimed at using technology such as drones and robot drills to cut operating ...

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• 30 July

  Line posts profit as monthly active users go up

  

    Bloomberg Line Corp. posted a profit in its first earnings report since ushering in the year’s biggest technology debut, as monthly active users rose just 4 percent to 220 million. Japan’s largest mobile messaging service announced 2.56 billion yen ($24.3 million) of net income in the six months through June, from a loss of 5.3 billion yen a year ...

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• 30 July

  Chinese banks with global dreams eye ME mega bonds

  

    Bloomberg Bank of China Ltd. is heading down the old Silk Road marketing new goods: Debut bonds from Saudi Arabia to Kazakhstan. In its biggest-ever foray outside Asia, the state-controlled lender is said to have landed three mandates to co-manage emerging-market Eurobonds, including the Saudi government’s international sale. China’s fourth-largest lender is one of nine underwriters hired by the ...

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• 30 July

  Tata’s revenue drops amid commodity woes

  

    Bloomberg Tata Group, the coffee-to-cars conglomerate, said revenue slipped 4.6 percent for the year ended in March, hurt by global political uncertainty, a commodity price crash and volatility in currencies. Revenue at India’s biggest business house dropped to about $103 billion from $108 billion the previous year, according to a statement. The company draws 69 percent of its revenues ...

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• 30 July

  China’s Fosun to acquire Brazil investment firm

  

    Bloomberg China’s Fosun on Saturday signed an agreement to acquire Brazil-based investment management firm Rio Bravo, according to a statement, just a day after the Chinese conglomerate announced another massive overseas deal. Fosun, which has interests ranging from property to mining, said it will buy the controlling share of privately-owned Rio Bravo Investimentos, but did not give a value ...

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• 30 July

  Japan’s Takeda Pharmaceutical sees $725mn in costs from R&D revamp

  

    Bloomberg Takeda Pharmaceutical Co. said efforts to revamp its research operations will cost 75 billion yen ($725 million) as it seeks to build a new pipeline of drugs and considers closing some R&D operations in the U.K. The Japanese company’s R&D activities will be concentrated in Japan and in the U.S., it said in a statement Friday. The number ...

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• 30 July

  ICICI Bank’s quarterly profit drops as loan provisions surge

  

    Bloomberg ICICI Bank Ltd., India’s largest private sector lender by assets, posted a 25 percent drop in first-quarter profit as provisions for bad debt rose. Net income fell to 22.3 billion rupees ($333 million), or 3.83 rupees a share, in the three months ended June 30, from 29.8 billion rupees, or 5.09 rupees, a year earlier, the Mumbai-based lender ...

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