May, 2016

• 24 May

  Scarce sugar forces Coca-Cola in Venezuela that to stop production

  

    Bloomberg Coca-Cola Co. is halting production of sugar-sweetened beverages in Venezuela as the company’s namesake soda pop becomes the latest victim of a lack of raw materials in the cash-strapped country. The iconic drink is the latest to join a group of basic products becoming scarce in a country beset by currency controls, goods shortages and the world’s highest ...

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• 24 May

  Brazil education stocks drop on subsidy cut talk

    Bloomberg Brazilian education and construction companies dropped on speculation the administration of interim President Michel Temer will seek to cut the social programs they depend on for revenue. Kroton Educacional SA and Estacio Participacoes SA, the country’s two biggest for-profit university operators, were among the worst performers on the Ibovespa stock index after Folha de Sao Paulo newspaper reported ...

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• 24 May

  Ireland and China: Trading values

  

    T he Economist recently joined an illustrious group of publications, including the Wall Street Journal, Huffington Post, and South China Morning Post, who have all illustrated a story on soccer in China with a picture of Xi Jinping kicking a soccer ball in Dublin. Only it’s not a soccer ball — in Dublin Xi Jinping was trying his hand ...

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• 24 May

  Indian politics is virtually everywhere

  

    Does it matter how many “likes” does your Facebook post gather when you are a powerful politician? Or how many followers do you have on Twitter? It does in India. Dozens of parliamentarians from the ruling Bharatiya Janata Party (BJP) have recently been chastised by their leadership for not being active enough on the Net. This is one of ...

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• 24 May

  Deutsche Bank ratings cut on struggle to overhaul

  

    Bloomberg Deutsche Bank AG had its credit rating cut by Moody’s Investors Service, which said the German lender faces mounting challenges in carrying out its turnaround. The bank’s senior unsecured debt rating was lowered to Baa2 from Baa1, Moody’s said in a statement this week. That left the grade two levels above junk. The firm’s long-term deposit rating fell ...

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• 24 May

  ‘Stay tuned’ for better returns, says Morgan Stanley

    Bloomberg Morgan Stanley Chief Executive Officer James Gorman sounded a positive note about the Wall Street bank’s business, telling investors to “stay tuned” for better performance as markets recover. Speaking to Bloomberg Television in Beijing, where the firm is hosting its China summit, Gorman said a 6 percent return on equity in the first quarter was in “a very ...

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• 24 May

  Deutsche names Thomas Piquemal to lead Global M&A

    Bloomberg Deutsche Bank AG hired Thomas Piquemal as head of global mergers and acquisitions and chairman of corporate and investment banking in France. Piquemal, 47, most recently senior executive vice president for finance at French electricity utility Electricite de France SA, will be based in Paris and report to corporate and investment banking chief Jeff Urwin, Frankfurt-based Deutsche Bank ...

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• 24 May

  ECB warns of financial turbulence as rising populism adds to risks

  

    Bloomberg The European Central Bank (ECB) warned that risks of financial-market turmoil have increased amid slower growth in emerging economies, weak bank profitability and the rise of populist movements across the 19-nation euro region. “A sharper-than-expected fall in Chinese growth could well lead to a synchronized downturn across other emerging market economies, particularly commodity exporting economies,” the ECB wrote ...

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• 24 May

  UK banks to appeal Swift to enhance cyber securities

  

    BLOOMBERG UK banks are privately lobbying the Bank of England to pressure Swift into adopting new security measures that would make it more difficult for cyber criminals to target the global payments network, according to a person with direct knowledge of the discussions. The banks want the Society for Worldwide Interbank Financial Telecommunication (Swift) to install software that would ...

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• 24 May

  Singapore kicks out Swiss bank linked to Malaysia’s 1MDB

  

    Singapore / AFP Singapore’s central bank on Tuesday said it was kicking out Switzerland’s BSI Bank, which has been linked to a global money-laundering scandal that has embroiled neighbouring Malaysia’s Prime Minister Najib Razak. In the toughest legal action so far in the crisis rocking Malaysian state fund 1MDB, Switzerland also disclosed it had launched criminal proceedings against the ...

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