05302016Mon
Last update: Mon, 30 May 2016 05pm

Business & Finance - Banking & Finance

Colombia central bank statement on interest rate decision BOGOTA: Colombia's central bank raised its benchmark lending rate a quarter point on Friday to 7.25 percent, the ninth consecutive monthly increase, in a bid to ease stubborn inflation. The decision was taken by majority.The following is a Reuters translation of the statement accompanying the bank's decision: The central bank board decided to increase the interest rate by 25 basis points to 7.25 percent at its meeting today. In this decision, the board took into consideration mainly the following aspects:Annual consumer inflation slowed in April and stood at 7.93 percent. In contrast, the average core inflation measures increased and reached 6.38 percent. Inflation expectations of analysts for one and two years stood at 4.5 percent and 3.7 percent, and those arising from public debt papers of 2, 3 and 5 years at between 4.3 percent and 4.7 percent.The slight decline in annual inflation in April was mainly due to decreases ...


Business & Finance - Industries & Sectors

Japan expands Takata air bag recall by about 7mn vehicles TOKYO: Japan's transport ministry said on Friday automakers will recall about an additional 7 million cars equipped with Takata Corp air bag inflators without a drying agent by March 2019, bringing the total recalled in the country to 19.6 million cars. Japan's latest announcement may further ramp up Takata's potential recall costs if the air bag maker is found to be responsible for the defective inflators.The company is in bailout talks with a number of ...

Business & Finance - Industries & Sectors

Adidas sells US apparel firm Mitchell & Ness FRANKFURT: Adidas said it had agreed to sell US sportswear seller Mitchell & Ness, resulting in a one-time gain in a the low to medium double-digit million euro range. The German group said in a statement on Friday it would re-invest the proceeds of the sale into its "Creating the New" strategy."Nostalgia headwear and apparel is not core to this strategy and the sale of Mitchell & Ness will allow us to reduce complexity and ...

Business & Finance - Industries & Sectors

Microsoft bans passwords, deemed too easy Microsoft, the world largest software maker is now banning all weak passwords across its services.According to Telegraph, the move came from Microsoft after LinkedIn hack that occurred last week, when 117 million user credentials were leaked.“A hacker was selling a list with 117M usernames and passwords purportedly leaked from LinkedIn. With these kinds of leaks happening almost weekly now, what can a person do to protect themselves? Or if you are an IT admin, what ...

Business & Finance - Industries & Sectors

Roche boosted by trial success with blood cancer drug ZURICH: Roche got a big boost on Friday when a clinical trial testing its new blood cancer drug Gazyva proved successful, lifting prospects for a new medicine that will be pivotal as the Swiss company fights the threat of biosimilar competition. Roche said Gazyva proved significantly better than its older drug Rituxan at delaying the progression of disease in people with previously untreated follicular lymphoma.Clinical trials with the new drug are important in deciding how ...

Business & Finance - Managed Funds

JGBs edge higher, underpinned by month-end buying TOKYO: Japanese government bonds edged up on Friday, bolstered by month-end buying and the Bank of Japan's asset purchases. The benchmark 10-year yield fell half a basis point to minus 0.120 percent, while June 10-year futures ended up 0.10 point at 152.03.The Bank of Japan offered to buy 240 billion yen of 10- to 25-year JGBs and 160 billion yen of 25- to 40-year JGBs under its asset buying programme.But overall market moves were small, ...

Business & Finance - Managed Funds

German yields hit 10-day trough as chances of US June hike diminish LONDON: German yields fell to a 10-day low on Friday, with this week's weaker-than-expected data and Britain's upcoming EU referendum seen diminishing the chances of an interest rate rise in the United States next month. Bund yields, which touched a one-month high just days ago, fell in line with their US equivalents, extending a decline that started on Thursday after data on US business spending plans failed to live up to expectations.The data was swiftly ...