05252016Wed
Last update: Wed, 25 May 2016 11pm

Business & Finance - Banking & Finance

Credit Suisse labours to spin misfortune into gold LONDON: A bond that wipes out if the Swiss bank encounters big operational losses, from rogue trades to cyber crime, has not been an easy sell. Even for investors who specialise in natural catastrophes, this product is esoteric. Such cleverness is impressive, but unlikely to catch on.Copyright Reuters, 2016


Business & Finance - Banking & Finance

Bank of China, China Merchants Bank to issue first bad loan ABS since '08 SHANGHAI: Bank of China Ltd and China Merchants Bank Co Ltd are poised to issue China's first bad debt backed securities since 2008, according to statements posted on the website of China's main bond clearinghouse. Bank of China will lead the asset-backed security (ABS) launch next week with a 301 million yuan ($45.99 million) deal, while China Merchants Bank will follow up with a 233 million yuan ($35.60 million) product.The amounts are miniscule compared with ...

Business & Finance - Industries & Sectors

'Daydream' the game changer in Virtual Reality As the tech world continues to explore untouched avenues, Google has been carefully piling up its virtual reality (VR) arsenal.One of the biggest companies on the globe Google has announced the launch of Daydream, a virtual reality platform, and is all set to launch it big ‘Android’ big. "Our intention is to operate at Android scale, meaning hundreds of millions of users," said senior product manager Brahim Elbouchikhi at the Google I/O developers conference. "In ...

Business & Finance - Industries & Sectors

Google Family Library coming this July, now share apps with your family Google has been recently quite active in introducing a number of exciting products at its I/O conference, now the Google Android users, of the same family will be able to share stuff like music, videos, e-books and apps.Yes, you heard it right Google Family Library is coming this summer, July 2nd to be exact, says Google documentation, which means that all the paid apps purchased after the mentioned date will become eligible for sharing with ...

Business & Finance - Industries & Sectors

Enel bid values Metroweb at 806mn euros MILAN: Italy's biggest utility Enel made a formal offer on Thursday to buy fibre-optic company Metroweb, valuing it at 806 million euros ($903 million), three sources close to the matter said. A high-speed Internet network is central to Prime Minister Matteo Renzi's reformist agenda. State-controlled Enel wants to run fibre optic cables along its power network and having a foothold in Metroweb would help its cause because of the broadband firm's know-how. Enel's plan could ...

Business & Finance - Banking & Finance

ECB may be able to raise growth forecast: Jazbec PORTOROZ: The European Central Bank's policies are already boosting growth and the bank may lift its own GDP projection if data remain supportive, Governing Council member Bostjan Jazbec said on Thursday. "The European Commission has are already raised its economic growth for 2016 and 2017, which indicates that the policies of the European Central Bank are showing their effect," Jazbec said on the sidelines of a conference. "It is too early to say but we ...

Business & Finance - Industries & Sectors

Daimler cuts 2016 trucks outlook, says group not impacted FRANKFURT: Daimler said on Thursday it had cut its outlook for its truck division on weaker-than-expected market developments. Earnings before interest and taxes (EBIT) from continued operations and unit sales of Daimler Trucks are now expected to be significantly lower in 2016 compared to 2015, the company said in a statement. Earlier Daimler Trucks had anticipated EBIT from ongoing business at the prior-year level and a slight decrease in unit sales. Daimler said the revised ...