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Bloomberg Bank Pekao SA slumped to a two week low after 50.3-percent owner UniCredit SpA was said to be considering selling a stake in Poland’s second-largest lender among other measures to boost capital. The shares in Pekao fell as much as 3 percent and traded 2.1 percent lower at 148.4 zloty in Warsaw, making the bank the second-biggest loser ...
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May, 2016
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22 May
Trust Bank to turn to Islamic banking by year-end
JAKARTA / Reuters Suriname’s Trust Bank hopes to complete a conversion of its operations to Islamic banking by the end of this year, becoming the first full-fledged Islamic bank in South America, its chief executive said. Last week the bank received approval in principle from the central bank for the transition, as it aims to expand financing to small ...
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22 May
UK house prices could drop 18% after Brexit: Treasury
BLOOMBERG British house prices would take a severe blow in the years immediately after a vote to leave the European Union, according to an analysis by the Treasury. The study concludes that prices would be between 10 percent and 18 percent lower by 2018 relative to their performance inside the EU, according to the Treasury. However, Chancellor of the ...
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22 May
Tokyo to get bigger skyscrapers with record developer debt
Bloomberg Japan’s biggest real estate companies are borrowing record amounts of cheap cash to pay for the nation’s tallest skyscrapers yet. Mitsubishi Estate Co. plans to build a 390 meter (1,280 feet) tower with 61 floors above ground in front of Tokyo Station, making it the nation’s biggest building. That and 27 other urban renewal projects in Japan’s capital ...
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22 May
Modern-day pioneer puts tiny Nevada town up for sale
AFP Nancy Kidwell is a modern-day pioneer of the American desert, a rough-riding frontierswoman who built an entire town amid the lonely Yucca trees and sturdy sagebrush, where nothing existed before. A half-century ago, Kidwell and first husband Slim turned a triangle-shaped gravel airstrip abandoned by the US military into a thriving community that featured a casino, store, camper ...
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22 May
Shoprite targets Angolan stores with $572 million investment
Bloomberg Shoprite Holdings Ltd. plans to invest $572 million on new supermarkets and business units in Angola, as Africa’s largest food retailer expands in fast-growing sub-Saharan markets. President Jose Eduardo dos Santos has appointed a commission to negotiate potential tax breaks and other incentives for the Cape Town-based company, according to a May 18 statement published in the government ...
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22 May
Sports Authority is shuttering all stores amid bankruptcy
New York / AP Sports Authority, which filed for bankruptcy protection three months ago, is shuttering all 460 of its stores after it was unable to adapt to consumers’ move online. The sports retailer had originally only planned to close about 140 stores, but in a court document this week it outlined plans to shutter all of them. The Englewood, ...
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22 May
Bombardier cuts Republic C Series order
Bloomberg Bombardier Inc. has removed from its production schedule an order for C Series aircraft placed six years ago by bankrupt Republic Airways Holdings Inc. Republic agreed in February 2010 to 40 firm orders and 40 options for the CS300 model, with deliveries initially scheduled to start in 2015. While the firm orders remain in the planemaker’s backlog, removal ...
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22 May
Wal-Mart lifts retail shares as US stocks see retreat
New York / AFP Wal-Mart and some smaller retailers surged following strong quarterly results, while the broader US market retreated on worries about higher interest rates. Wal-Mart Stores jumped 9.6 percent after reporting better-than-expected first-quarter earnings. Sports apparel and equipment chain Dick’s Sporting Goods and youth-oriented apparel chain Urban Outfitters soared 8.6 percent and 14.0 percent following earnings. The results ...
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22 May
High-flying drone makes debut flight to test farmland photos
Hillsboro /Â AP A high-flying drone that will be used to test precision agriculture methods made its inaugural flight in North Dakota amid handshakes and smiles from aircraft operators and farm officials. The Israeli-manufactured Elbit Systems Hermes 450 aircraft took off from the Hillsboro airport to start a summer-long project that will take pictures of farmland in the fertile Red ...
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