July, 2016

• 20 July

  Deutsche Bank sees UK passport loss

  

    BLOOMBERG Deutsche Bank AG expects the UK to lose its ‘passporting’ rights, which allows banks to sell their services in the European Union, after the country voted to leave the trade bloc, Business Insider reported, citing an internal document. In the confidential note prepared for a July 5 board meeting, Deutsche Bank sees a “first-mover advantage” because a “synchronised ...

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• 20 July

  Skye Bank gains on report power firm may pay debts

  

    Bloomberg Skye Bank Plc, whose top management was replaced by regulators this month, surged for a second day following a report that a major debtor reached an agreement that may help it repay the Nigerian lender. The stock closed up 9.1 percent to 72 kobo in Lagos, the best performer on the 171-member Nigerian Stock Exchange All-Share Index. Almost ...

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• 20 July

  Top court boosts EU stance in Italian bank bail-in talks

  

    Bloomberg The European Union’s top court backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders, strengthening the hand of Brussels regulators as Italy fights to shield some bondholders caught up in the nation’s banking crisis. Tuesday’s decision is a show of support for the European Commission, which updated its crisis rules for ...

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• 20 July

  Riding on cost cuts, United beats estimates

  

    Bloomberg United Continental Holdings Inc.’s second-quarter profit exceeded analysts’ estimates as lower fuel and operating costs overcame weak fares. Adjusted earnings of $2.61 a share beat the $2.56 average of analyst estimates. United said that it plans to trim growth for 2016 and now sees full-year capacity increasing no more than 1.5 percent from last year, compared with the ...

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• 20 July

  Consumers in shock as Russians skimp on food

  

    Bloomberg With stores from near the Arctic to the foothills of the Caucasus Mountains, Magnit PJSC would be the first to know when the Russian consumer is back. Instead, the nation’s largest supermarket chain has just come across something it’s never seen. Billionaire Sergey Galitskiy’s retailer, which operates almost 13,000 outlets in Russia, said the average purchase has fallen ...

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• 20 July

  Spotify focusses on local market for Asia expansion

  

    Bloomberg Spotify, a digital music service provider, is tailoring its service for local tastes, from topical playlists to tiered pricing, as it prepares to expand its music streaming in Asia market. That strategy includes beefing up content such as Korean pop music popular in Southeast Asia and offering different payment methods in markets where credit cards are rare, said ...

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• 20 July

  New security measures bring long lines at Brazilian airports

  

    RIO DE JANEIRO / AP New, stricter security checks were implemented in Brazilian airports this week, stalling travellers and delaying flights less than three weeks before Rio de Janeiro hosts the Olympics. Starting early morning, long, chaotic lines formed at Congonhas regional airport in Brazil’s biggest city, Sao Paulo. Within a half-hour, more than 700 people were waiting on the ...

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• 20 July

  Newcomers want a piece of aviation market

  

    London / AP China and Russia are making their presence felt in the multibillion-dollar aviation market. With demand for single-aisle aircraft expected to grow for years to come, particularly from Asia, some experts think the new firms have a real chance at cracking the market, especially if they have the backing of their national governments. But it won’t be easy ...

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• 20 July

  ‘Pea pod’ panacea for price rise

  

    Bloomberg On a campus in southern India, Kiran Sharma and his team of biologists are perfecting a recipe that may solve the nation’s inflation woes. Sharma for six years has been testing a new variety of pigeon pea, a 3,000-year-old indigenous crop used to make dal, a staple of the diet in India. By adding a gene to the ...

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• 20 July

  Wearable tech that boosts productivity

  

    Guadalupe Gonzalez / TNS As an entrepreneur, you know better than most that time is finite. When you are not working on your business, you are probably spending your free time with loved ones, hatching the next big idea, exercising, or getting some well-deserved rest. So if you could use a tool to help you focus or get more ...

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