Banca Paschi Siena, one of the oldest banks in Italy, is taking the spotlight in the financial market as everyone is expecting a state bailout for the bank. Currently there are more than 1,700 voices in Sentifi financial market discussing the bank and the prospects of the eurozone. Stick with Sentifi and join the conversation.
Banca Paschi Siena: Drags down European stocks
A blanket of worries covers Europe today as investors anxiously expected a state bailout for the bank, a process that could take up to three months. Across the continent, stocks traded down. At midday, Stoxx Europe 600 fell 0.24 percent, CAC dropped 0.14 percent, FTSE 100 declined by 0.09 percent, among others. Interestingly, Milan’s FTSE MIB increased 0.5 percent, and the FTSE Italia All-Share Banks index was up 1.47 percent.
Weight Watchers: Shares have an inverse relationship with Oprah Winfrey’s weight
The company shares traded up as much as 19 percent after Oprah Winfrey revealed she had lost more than 40 pounds since starting the weight-loss program last year. The company also announced a new ad campaign headlined by Winfrey herself detailing her transformation. The campaign is scheduled to begin next year.
Qatar National Bank: Raises stake in Ecobank
The bank has raised its stake in Ecobank Transnational Incorporated by more than 60 percent in the past two years, making it the largest single shareholder in the pan-African lender. “We appreciate the trust and confidence that the preference shareholders, particularly QNB, have in Ecobank. With the support of all our shareholders, we shall continue to provide the best quality banking services to our numerous clients across the largest banking network in Africa,” Group CEO of Ecobank Ade Ayeyemi said. He also revealed the bank is doing what’s necessary to get the shares converted, issued and listed on the three stock exchanges where it is listed.
IKEA Group: Settles $50 million lawsuit
The Swedish home furnishings retailer was sued after its dressers tipped over and killed three toddlers in the U.S. Lawyers for the three families say the company has agreed to pay $50 million to settle the lawsuit.
Nokia Corporation: Acquires Deepfield
The Finnish company announced the acquisition of startup Deepfield in hopes of gaining better insight into performance and security issues by digging through all the available network telemetry. Nokia refused to give any concrete information about its plans for Deepfield aside from saying it will meld the startup’s technology with Nokia’s software-defined networking efforts in the IP/Optical Networks business group.
Micron Technology: Signals a boom in the DRAM industry
The company has solid earnings and very upbeat guidance, showing the DRAM industry will be able to maintain its momentum into 2017. With rebounding DRAM and NAND flash memory sales, Micron registered a 16 percent increase in annual revenue in the fiscal first quarter. The company also forecast DRAM industry bit supply would rise by 15 percent to 20 percent in 2017, less than a long-term bit demand growth forecast of 20 percent to 25 percent.
Honda Motor: Partners with Google for autonomous mobiles
In order to not fall behind in the self-driving race, Honda is teaming up with Google research unit for self-driving cars. Specifically, Honda is in talks with Waymo, which is a newly independent projected owned by Google parent Alphabet. Previously, Honda has partnered with General Motors for fuel cell vehicles and with SoftBank Group on AI. The latest partnership will see both companies share data collected from proof-of-concept tests in four U.S. cities.
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