TimeLine Layout

June, 2016

  • 22 June

    India, Thailand boost ties with Prayut’s visit

      Aditya Sharma SPECIAL TO EMIRATES BUSINESS For the first time after a military coup deposed the civilian government of Yingluck Shinawatra, Thailand’s new head of state and military ruler Prayut Chan-o-cha visited India last Thursday. New Delhi has been looking forward to the Thai delegation, which will further boost ties with the Southeast Asian nation. According to local media ...

    Read More »
  • 22 June

    Federal Reserve in retreat as reasons for rate hikes fade

      Bloomberg Three weeks ago, Federal Reserve officials sounded like they needed a reason not to hike interest rates soon. Now, they’re in search of a reason to consider any change in policy. “Unless something unexpectedly positive happens, they’re likely on hold for the next couple of meetings,” said Carl Tannenbaum, chief economist at Northern Trust Corp in Chicago. Fed ...

    Read More »
  • 22 June

    Yuan rate increases as banks hoard cash

      Bloomberg China’s money-market rate jumped by the most in almost three months as injections of funds by the central bank were overwhelmed by quarter-end demand. The 14-day repurchase rate, a gauge of interbank funding availability, climbed 13 basis points to 2.92 percent. in Shanghai, the most since March 31, according to National Interbank Funding Center prices. The benchmark seven-day ...

    Read More »
  • 22 June

    Banking’s disrupters face upheaval of their own in Brexit vote

      Bloomberg Entrepreneurs who’ve flocked to London in recent years to upend the financial world with technology are dreading one potential disruption they can’t control: Britain leaving the European Union. A decision to quit the 28-nation bloc in Thursday’s referendum would threaten trade and regulatory benefits that have made London a hub for financial startups, as well as a center ...

    Read More »
  • 22 June

    Scotiabank to join with Kabbage for online small-business loans

      Bloomberg Bank of Nova Scotia, Canada’s third-largest lender by assets, is collaborating with financial technology firm Kabbage Inc to offer loans online to small businesses. The program will be available in Canada starting next month and in Mexico later this year, Atlanta-based Kabbage said that didn’t include terms. Business customers can apply for loans through Scotiabank’s website in the ...

    Read More »
  • 22 June

    Norway’s consumer watchdog sues bank for US$83 million

      AP Norway’s consumer watchdog is suing the country’s largest bank, DNB, on behalf of 150,000 customers, claiming it has overcharged them 690 million kroner (US$83 million) in management fees in “falsely active funds.” In one of Norway’s largest class action lawsuits to date, the Norwegian Consumer Council says that from 2010 to 2014 the bank had charged customers six ...

    Read More »
  • 22 June

    SoftBank’s President Nikesh Arora steps down

      Bloomberg The surprise departure of Nikesh Arora, heir apparent at SoftBank Group Corp, highlights a problem many Japanese companies face: passing the reins to a successor. SoftBank founder Masayoshi Son, 58, said he wants to remain at the helm of the company he built from a computer software distributor into one of Japan’s largest telecommunications and investment groups, while ...

    Read More »
  • 22 June

    Brexit polls at odds with currency mkts

      Bloomberg Britain’s referendum on EU membership entered its final day of campaigning with opinion polls and financial markets at odds about the likely outcome. Money has piled into bets on “Remain” winning over the past week. The pound has surged to a five-month high and an index of betting flows compiled by Oddschecker shows the chance of Brexit has ...

    Read More »
  • 22 June

    Picasso, Modigliani lift Sotheby’s sale ahead of plebiscite

      Bloomberg Paintings by Pablo Picasso and Amedeo Modigliani gave the auction market a much-needed boost on Tuesday when they fetched the highest prices for Sotheby’s in London since 2010. Picasso’s 1909 Cubist painting “Femme Assise” sold for £43.3 million ($63.5 million), surpassing the estimated target of £30 million. Moments later, Modigliani’s “ Jeanne Hebuterne (au Foulard)” took £38.5 million, ...

    Read More »
  • 22 June

    UK business chiefs push for ‘Remain’ on referendum eve

      London / AFP Bosses from more than half of Britain’s biggest companies on Wednesday urged Britons to vote Remain on the eve of a critical EU membership referendum. Almost 1,300 business executives — including those from 51 of London’s top FTSE 100 listed companies —wrote in a letter to The Times newspaper that Britain leaving the EU could cause ...

    Read More »
Send this to a friend