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  Bloomberg Credit Suisse Group AG, the Swiss lender seeking a banking license in Saudi Arabia, allocated about $600 million of its own capital to expand its business in the kingdom, according to people familiar with the matter. The Zurich-based bank, which has a securities and equities business in the country, plans to use the capital to, among other things, ...

  Bloomberg Kenyan banks are in talks with the government about changing a law that caps commercial interest rates as lending in East Africa’s biggest economy slows, Barclays Bank of Kenya Ltd. Chief Executive Officer Jeremy Awori said. “Those dialogues are underway between the Kenya Bankers Association and members of parliament around what would work,” Awori said Wednesday in an ...

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley received a bonus of 1.3 million pounds ($1.6 million) for his first year in charge after hitting almost two-thirds of his targets, as he reshaped the bank and disposed of unwanted assets. Staley, 60, was awarded 60 percent of his maximum bonus opportunity for the year, giving him a total pay ...

  Bloomberg Lloyds Banking Group Plc jumped to the highest level since the Brexit vote after it boosted the dividend and said lending margins would hold up amid record-low U.K. interest rates. Shares in Britain’s largest mortgage lender climbed as much as 4.1 percent to their highest price since June 23. Excluding one-time charges, pretax profit rose 2 percent to ...

  Bloomberg The Bundesbank may be about to put a price tag on the European Central Bank’s exit from unconventional stimulus. The German central bank is bracing for losses that may be triggered when the ECB eventually unwinds its bond-buying program and raises interest rates, and President Jens Weidmann has the opportunity to address the matter when he presents his ...

  Bloomberg Earlier this month, Apple Inc. poached the chief of Amazon’s Fire TV unit to run its television operations. Timothy D. Twerdhal brings hardware and content experience to his new gig, and his hiring suggests a renewed focus on the Apple TV set-top box. Twerdhal’s arrival comes as the company tests a new, fifth-generation Apple TV that it may ...

  Bloomberg Fitbit Inc.’s fourth-quarter revenue fell 19 percent, hurt by fading consumer demand for its once-popular wearable fitness trackers. Revenue in the quarter — which includes the holiday shopping season — dropped to $573.8 million, the company said in a statement. Fitbit in January had forecast sales of $572 million to $580 million. Before then, analysts had been predicting ...

  Dubai / Emirates Business The latest version of LG Electronics’ (LG) webOS 3.5 Security Manager smart TV platform has been certified for its effective cybersecurity capabilities by UL, the world’s foremost expert in safety and sustainability, a first in the smart TV category. Following in the footsteps of its expertise in smart TVs, LG intends to expand this level ...

  DETROIT / AP Technology glitches including Bluetooth phone pairing and misunderstood voice commands put a dent in car and truck reliability scores in a major survey of automobile owners. Lexus and Porsche tied for the top spot, leading all brands for dependability in the survey released Wednesday by the consulting firm J.D. Power. But electronic problems caused trouble across ...

  TULA, Russia / AP Claims of hacking by the Russian state may be feeding international tensions, but they’ve given Californian musician David Brown a great icebreaker when selling his line of Russian-made microphones. “We give free hacking lessons with these microphones,” he tells potential buyers in Los Angeles. “Watch what you say because they never turn off.” Brown, who’s ...