June, 2016

• 4 June

  Mortgage firm MCAP to seek C$275mn in IPO

    Bloomberg MCAP Corp., a Canadian mortgage finance company, will seek to raise about C$275 million ($212 million) through an initial public offering as soon as next month, according to people with knowledge of the company’s plans. The Toronto-based business, which has about C$55 billion of mortgages under administration, filed a preliminary prospectus with Canadian regulators last month for an ...

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• 4 June

  PBOC to revise reserve to cut cash instability

  

    Bloomberg China’s central bank will further adjust how it assesses the amount of deposits banks must set aside with it as reserves to help ease swings in cash markets. From July 15, the People’s Bank of China will check banks’ average deposit value during a certain period, instead of at the end of a period, it said in a ...

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• 4 June

  Suspension cost JPMorgan banker US$3million

    Bloomberg A JPMorgan Chase & Co foreign-exchange salesman who was fired for failing to follow rules introduced in the wake of the market-rigging scandal said his suspension left him anxious and isolated and eventually cost him 2 million pounds (US$3 million). Patrice Ktorza, a former executive director, is suing the bank for unfair dismissal in a London tribunal. He ...

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• 4 June

  Nova Scotia bank profit plunges 12% on soured loans

  

    Bloomberg Bank of Nova Scotia said fiscal second-quarter profit fell 12 percent on higher losses from energy loans and restructuring charges as it shifts toward digital banking. Net income for the period ended April 30 slid to C$1.58 billion ($1.21 billion), or C$1.23 a share, from C$1.8 billion, or C$1.42, a year earlier, the Toronto-based bank said Tuesday in ...

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• 4 June

  ECB Prez urges policy makers to focus on implementation

  

    BLOOMBERG Mario Draghi’s insistence that his stimulus programme is only half done brings with it a worrying thought. What if its best effects are already spent anyway? At least four times at Thursday’s press meet in Vienna, the European Central Bank president emphasised how policy makers need to see the ‘full impact’ and must ‘focus on implementation’ of their ...

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• 4 June

  Fed’s Guv urges caution amid mixed data, global risks

  

    Bloomberg Federal Reserve Governor Lael Brainard said a ‘sobering’ US employment report suggested the labour market has slowed, as she continued to warn against moving too quickly to raise interest rates. “In this environment, prudent risk management implies there is a benefit to waiting for additional data to provide confidence that domestic activity has rebounded strongly and reassurance that ...

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• 4 June

  Farewell to king of the square ring

  

    Los Angeles / AFP He called himself “The Greatest,” and few disagreed. Muhammad Ali — who died on Friday in Arizona at age 74 — was one of the iconic sporting heroes of the 20th century, the three-time heavyweight champion of the world who said he could “float like a butterfly, sting like a bee.” Ali, who came of ...

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• 4 June

  2017: More modular smartphones in store

  

    Relaxnews There has been much talk of modular smartphones this spring, after LG released its G5 handset and Google presented a near-final version of its Project Ara. Modular smartphones differ from regular mobiles thanks to their “building block” design, made up of various interchangeable modules containing different hardware components. These can be switched quickly and easily to boost performance ...

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• 4 June

  Google upgrades My Account features

  

    Relaxnews Google is celebrating My Account’s first birthday with new features and better ways to try to find out if your phone is lost or stolen. The three new features, announced on Google’s official blog on, are intended to improve users’ My Account experience and help locate and control missing or stolen phones. Find your phone is a new ...

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• 4 June

  Apple users experience technical glitch

  

    AFP An array of Apple services including the App Store and Apple TV were knocked offline for several hours due to an unexplained technical glitch. An official Apple status webpage confirmed the outage, which appeared recently. However the issue was resolved in California, Apple’s online shops and game center were back in operation, but its iCloud online data storage ...

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