Tuesday, June 27th, 2017

 

Pandora CEO Tim Westergren to step down

NEW YORK, June 27 — Music streaming service Pandora Media Inc’s co-founder Tim Westergren stepped down as chief executive and board member as part of a management shuffle. The company’s shares fell 2.6 per cent at US$8.24 in early trading….


Wall Street slips on tech selloff

NEW YORK, June 27 — Wall Street was pulled lower by a selloff in technology shares at the open today, while investors awaited clues on interest rate hikes from Federal Reserve Chair Janet Yellen’s talk in London. The technology index fell…


Bank of England tightens capital requirements as debt surges

LONDON, June 27 — The Bank of England today said retail lenders need combined capital reserves of £11.4 billion (RM62.2 billion) by the end of next year as UK household indebtedness surges. As expected, banks are from today increasing the UK…


Singtel’s NetLink Trust launches up to US$1.95b Singapore IPO

HONG KONG, June 27 — NetLink NBN Trust, the broadband subsidiary of Singapore Telecommunications (Singtel), launched an up to US$1.95 billion (RM8.3 billion) IPO today in the largest new listing in Singapore in more than four years. NetLink is…


World’s first ATM machine turns to gold on 50th birthday

LONDON, June 27 — Five decades since it heralded a transformation in the way people obtained and used cash, the world’s first ATM was turned into gold for celebrations of its fiftieth anniversary. The brainchild of Scottish inventor…


[Latest] EU hits Google with record €2.4b fine

BRUSSELS, June 27 — The EU slapped Google with a record €2.4-billion (RM11.6 billion) anti-trust fine today, in a fresh assault on a US tech giant that risks the wrath of President Donald Trump. Hard-charging European Commission…


[Global Highlight] Dollar hits near 5-week high against yen ahead of Yellen comments

  TOKYO: The dollar rose on Tuesday to its highest level against the yen in nearly five weeks ahead of comments from Federal Reserve Chair Janet Yellen that are expected to underline her positive view of the U.S. economic outlook. She is scheduled to take part in a discussion later on Tuesday at London’s Royal Academy. A positive view despite a recent batch of weak U.S. economic data would support the Fed’s forecast for another rise in policy rates this year. “Hedge funds are already selling yen this week, andRead More


Singapore fund GIC said to confront complaints in GLP sale

SINGAPORE, June 27 — The litany of complaints about the biggest Asian buyout deal became so bad that Singapore’s sovereign wealth fund decided to act. A bidding process for Global Logistic Properties Ltd., the US$9.7 billion (RM41.6 billion)…


L’Oreal finalises sale of The Body Shop

PARIS, June 27 — French beauty products giant L’Oreal said today it has a signed a contract to sell The Body Shop, which it has owned for over a decade, to Brazil’s Natura Cosmeticos for €1 billion (RM4.8 billion). L’Oreal said in a…


[China Highlight] China pumps cash into African floating LNG projects in strategic push

China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa. LONDON: China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s. Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it intoRead More