01192017Thu
Last update: Thu, 19 Jan 2017 05am

Business & Finance - Banking & Finance

Credit Agricole exits government bond dealer roles in Austria, Ireland LONDON: Credit Agricole's investment banking arm said on Friday it had decided to cease acting as a primary dealer in government bonds for Austria and Ireland, and in treasury bills for the Netherlands. The bank is the latest to have given up primary dealer roles in Europe, a trend that threatens to increase liquidity constraints and could eventually make it more expensive for some countries to borrow.The bank reviewed its government bond business to take account of the impact of new regulations on banks' balance sheets and profitability, a spokeswoman for the bank said in an emailed statement to Reuters."Credit Agricole CIB remains committed to the Government Bonds business. This activity remains a core business of the bank and is part of its fixed income franchise," she said.Of the other investment banks to have taken similar decisions, the most notable was Credit Suisse, which in 2015 pulled out of making ...


Business & Finance - Industries & Sectors

Monopoly suit against Apple's App Store gets new life SAN FRANCISCO: A US appeals court on Thursday revived a civil suit accusing Apple of creating a monopoly by making its App Store the only place to buy iPhone applications.The suit, initially filed in late 2011, seeks hundreds of millions of dollars in damages based on the reasoning that the lack of competition pushed app prices higher.An appellate court panel in San Francisco reversed a lower court judge's decision to derail the suit on the ...

Business & Finance - Industries & Sectors

India's SpiceJet to buy Boeing planes worth $22bn NEW DELHI: Indian airline SpiceJet said on Friday it had agreed to buy up to 205 Boeing planes worth $22 billion in what it said was one of the largest deals ever in Indian aviation.SpiceJet Chairman Ajay Singh said the low-cost airline, which has a 13-percent share of the Indian market, was expanding both its domestic and international operations."This is the largest deal for SpiceJet, it's one of the largest in Indian aviation and is ...

Business & Finance - Banking & Finance

Yellen had 'super risky' proposal for Fed's 2011 low-rate vow FRANCISCO/WASHINGTON: Faced with sharply deteriorating economic conditions in 2011 after ending their second bond-buying program, Federal Reserve policymakers made an unprecedented bid to shore up the recovery by promising to keep rates low until at least mid-2013.But according to transcripts of the 2011 Fed meetings released for the first time on Thursday, then-Fed vice Chair Janet Yellen wanted an even stronger statement - a vow to keep rates low not just until mid-2013, but until ...

Business & Finance - Banking & Finance

UniCredit says will complete cash call in time for bond payouts MILAN/ROME: The chief executive of Italy's biggest bank UniCredit pledged on Thursday to complete a 13 billion euro ($14 billion) share issue by March 10, in time to make payouts due on high-risk bonds that came under pressure on the market. UniCredit's shareholders met on Thursday to approve Italy's biggest corporate cash call to help clean up its balance sheet and restructure under new CEO Jean Pierre Mustier, distancing itself from the protracted banking crisis. ...

Business & Finance - Industries & Sectors

Uber for tech financial analysis proves elusive NEW YORK: If only there was an Uber for analyzing tech unicorns. Bank regulators have expressed displeasure over how Morgan Stanley, Goldman Sachs and other advisers pitched a loan for the $70 billion ride-hailing enterprise. Imaginative slicing and dicing of figures is an irksome dark art performed by investment bankers. At the same time, the Federal Reserve's guidance on leverage can be hard to apply to unprofitable ventures. Silicon Valley's widespread use of numbers that ...

Business & Finance - Industries & Sectors

AT&T chief executive at Trump Tower to discuss Time Warner merger NEW YORK: AT&T chief executive Randall Stephenson on Thursday visited Trump Tower in New York for talks over the company's planned merger with Time Warner Inc, according to a source, a deal which has been criticized by President-elect Donald Trump.Stephenson was seen entering the lobbying but declined to answer questions.A source briefed on the matter said Stephenson is holding meetings with the Trump transition team to discuss the company's planned $85.4 billion merger with Time ...