May 28, 2022

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FINANCE MORNING FOR 6TH DECEMBER 2016

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FINANCE MORNING FOR 6TH DECEMBER 2016



Bank steps up credit to energy sector

Against the hyped threat to banking sector stability arising from credit to the energy sector, there are indications that banks are not only recovering from the 2015 red lines, but some of them are now stepping up their positions strategically in the sector. Relative to the second half of 2015, the amount of credit to the various sectors by banks in first half of 2016, H1’16, showed an upward trend. Source: Vanguard. Read More.

Renzi to resign after referendum rout, leaving Italy in limbo

Italian Prime Minister Matteo Renzi announced on Monday that he would resign after suffering a resounding defeat in a referendum over constitutional reform, leaving the euro zone’s third-largest economy in political limbo.

Italy’s largely ceremonial head of state, President Sergio Mattarella, told the prime minister to stay on until parliament had approved the 2017 budget. That could be achieved as soon as later this week, after which, the president said, Renzi would be free to tender his resignation.
http://www.reuters.com/article/us-italy-referendum-idUSKBN13T019?il=0

Apple Watch sales to consumers set record in holiday week, says Apple’s Cook

Sales of the Apple Watch to consumers set a record during the first week of holiday shopping, and the current quarter is on track to be the best ever for the product, Apple Inc (AAPL.O) Chief Executive Tim Cook told Reuters.

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Responding to an email from Reuters, Cook said the gadget’s sell-through – a measure of how many units are sold to consumers, rather than simply stocked on retailers’ shelves – reached a new high.

“Our data shows that Apple Watch is doing great and looks to be one of the most popular holiday gifts this year,” Cook wrote. Source: Reuters. Read More.

NGA canvases willing buyer-willing seller on domestic gas supply for NGP

Nigerian Gas Association (NGA) has called for a harmonization in the Domestic Supply Obligation (DSO), contained in the draft National Gas Policy rolled out by the Ministry of Petroleum Resources. It explained that the policy should be such that boldly stipulates willing buyer-willing seller. Source: Vanguard. Read More.

Dow Hits Fresh Highs As Investors Shrug Off Italian Referendum Results

European and U.S. stocks climbed on Monday as investors shrugged off the results of the Italian referendum that cost Prime Minister Matteo Renzi his job and thrust the nation into a period of uncertainty.

The Euro, which had fallen to its lowest level in more than a year against other major currencies overnight, also recouped its losses. Source: Forbes. Read More.

Apple’s Critique Of Driverless Car Policy Doesn’t Clarify Its Own Plans

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Apple’s courteous, albeit bland, letter to federal regulators weighing in on preliminary guidelines for development and testing of self-driving cars has again ginned up excitement and speculation about its eventual entry into the automotive space, yet revealed nothing about actual plans to do so. As CEO Tim Cook put it, it’s still Christmas Eve. Source: Forbes. Read More.

Microsoft researchers sound off on the next decade in tech

It’s Computer Science Education Week, in case you didn’t know, and in honor of this hallowed period Microsoft is publishing the thoughts of a few of its scientists and engineers on what will change in the tech world over the next decade.

Seventeen women were asked to chime in — an effort to highlight their voices in a field dominated by men — and you can read their full comments at the official Microsoft blog. I wouldn’t do you any favors by repackaging their already concise thoughts, but here are a few predictions I found interesting: Source: Techcrunch. Read More.

GoDaddy buys WordPress services startup WP Curve

Web-hosting firm GoDaddy is beefing up its services after it acquired WP Curve, a bootstrapped startup offering services and support for WordPress websites. The deal is undisclosed, but it will see NYSE-listed GoDaddy pick up WP Curve’s customer base, assets and “a few dozen” of its 39-person team, the firm told TechCrunch. Source: Techcrunch. Read More.

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‘They want us to be silent’: Hong Kong lawmaker under threat vows to fight

Hong Kong (CNN)One of the leaders of the 2014 Umbrella Movement has vowed to take to the streets again if the Hong Kong government succeeds in unseating him and three other pro-democracy lawmakers.

A lawsuit was filed Friday by government lawyers seeking to disqualify Nathan Law and three others, days after a court upheld the barring of two of their colleagues. Source: CNN. Read More.

India Jayalalitha: Thousands mourn colourful politician

Thousands of mourners are flocking to pay their respects to J Jayalalitha, one of India’s most influential and colourful politicians.
The 68-year-old chief minister of Tamil Nadu state suffered a heart attack on Sunday night and died at 23:30 local time (18:00 GMT) on Monday, Chennai’s Apollo Hospital says.
Her body, draped in the Indian flag, is on display at a large public hall.
Extra police have been deployed in the southern state amid fears of unrest. Source: BBC. Read More.

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