JAPAN: Makes pledges of £10-billion to Africa over 3 years, wants continent to be permanent member of U N Security Council by 2023 – @CapitalFMKenya – @AceFinanceNews

#AceFinanceNews – Aug.27: Japan pledges £10billion to Africa over 3 years, wants continent to be permanent member of UN Security Council by 2023 – @CapitalFMKenya

http://bit.ly/2bnQUah

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#AceProductNews – Mazda recalling 190,000 CX-7 vehicles sport utility vehicles from model years 2007 to 2012 in the US because of an issue that may cause a loss of steering control, safety regulators said on Friday – Reuters – @AceFinanceNews

#AceFinanceNews – Aug.26: Mazda recalling 190,000 CX-7 vehicles in U.S.

DETROIT (Reuters) – Mazda Motor Corp will recall 190,000 of its CX-7 sport utility vehicles from model years 2007 to 2012 in the United States because of an issue that may cause a loss of steering control, U.S. safety regulators said on Friday…..

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#UBER Massive expansion plan takes its toll on its quarterly profits and Bloomberg said citing sources they made a loss of $520 million in the first quarter of the year and another $750 million in the second quarter – @AceFinanceNews

#AceFinanceNews – Aug.25: Uber lost at least $1.27 billion in first half of 2016

An illustration picture shows the logo of car-sharing service app Uber on a smartphone next to the picture of an official German taxi sign(Reuters) – Ride-hailing giant Uber Technologies Inc [UBER.UL] lost at least $1.27 billion before interest, taxes, depreciation and amortization in the first six months of 2016, Bloomberg reported on Thursday, citing people familiar with the matter.

The subsidies Uber grants its drivers was the main reason for the loss, finance head Gautam Gupta told investors in a quarterly conference call, Bloomberg said, citing sources.

The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said.

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EGYPT: Central bank has received a deposit cool $1-billion to alleviate their dollar crisis and pay their IMF loan Bloomberg and Emirati news agency WAM reported on Monday – @AceFinanceNews

#AceFinanceNews – Aug.24: UAE offers $1B to Egypt’s Central Bank

UAE has offered a deposit worth $1 billion to the Central Bank of Egypt (CBE) lasting for six years, Emirati news agency WAM reported on Monday, a move that aims at alleviating Egypt’s dollar crisis. 

U.A.E. Deposits $1 Billion in Egypt to Shore Up IMF Loan Deal

The United Arab Emirates agreed to deposit $1 billion with Egypts central bank to help the North African nation meet the requirements for a $12 billion loan deal with the International Monetary Fund. 

Egypt's President Sisi and the UAE's Mohammed bin Zayed Al Nahyan during the latter's visit to Cairo in April 2016. (File photo)

908.png © Copyright Al-Ahram Publishing House

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LONDON: After #Brexit a directive called ‘ Revised Payments Services ‘ is changing as it requires all banks operating in the EU to provide customers with access to account and transaction information, as well as payment initiation to third parties, via APIs – @AceNewsServices

#AceFinanceNews – Aug.23: With Brexit, APIs Just Became Geopolitical

London holds the reputation of fintech capital of the world, leading the forward-thinking EU as it seeks a more integrated European payments market.

This is currently being built around the EU’s Revised Payments Services Directive (PSD2) that requires all banks operating in the EU to provide customers with access to account and transaction information, as well as payment initiation to third parties, via APIs.

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BRITAIN: National Grid to recoup £95-million of the 113 million contract it has awarded to two companie s to provide back-up emergency power for winter 2016/17, regulator Ofgem said Tuesday – Reuters – @AceFinanc eNews

#AceFinanceNews – Aug.23: National Grid to recoup 95 million pounds of power contract costs

LONDON (Reuters) – Britain’s National Grid will be able to recoup 95 million pounds of the 113 million it has awarded to two companies to provide back-up emergency power for winter 2016/17, regulator Ofgem said on Tuesday…..

Britain’s National Grid will be able to recoup 95 million pounds of the 113 million it has awarded to two companies to provide back-up emergency power for winter 2016/17, regulator Ofgem said on Tuesday.

The so-called “black start” contracts pay power companies to keep plants ready to come back online without start-up power from the grid if there is a national power outage.

Britain’s electricity production fell to its lowest level in more than 20 years in 2015, with several loss-making coal plants closing in recent years.

National Grid has a range of measures to incentive plants to be available during times of high demand and regulator Ofgem sets how much National Grid can spend on these.

On Tuesday Ofgem said the 54 million pound contract awarded to SSE’s Fiddler’s Ferry coal plant this year met its criteria and could be recovered.

Following the contract win SSE said it would keep the coal-fired power station near Manchester open until at least March 31, 2017.

A 59 million pound contract was awarded to coal-fired generator Drax to remain available over winter 2016/17 after it had warned it might mothball some of its coal-fired capacity.

Ofgem said National Grid could have foreseen this event and therefore the company could not recover all of the money for this contract.

“National Grid will bear up to 17.7 million pounds in costs itself, which is 30 percent of the costs,” Ofgem said.

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LITHUANIA: Agrees to purchase military vehicles from Germany at a contracted price of $437 million – @AceNewsServices

#AceFinanceNews – Aug.22: Lithuania in $437 million military vehicle deal with Germany….

VILNIUS, Lithuania (AP) – Lithuania says it has signed a contract to purchase dozens of German military vehicles worth $437- million

Read the full story

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USA: #Rio2016 Ryan Lochte: Cost of not telling the truth is loss of sponsorship deal with @SpeedoUSA

#AceFinanceNews – Aug.22: The official response regarding our sponsorship of Ryan Lochte

IEMNeLkO_normal.png Speedo USA (@SpeedoUSA)
22/08/2016, 16:06
The official response regarding our sponsorship of Ryan Lochte. pic.twitter.com/0DdP2RyceD

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BRITAIN: #RBS to charge some corporate customers for deposits from Monday, a source close to the bank said, the first in Britain to charge negative interest rates on deposits – Reuters – @AceFinanceNews

#AceFinanceNews – Aug.21: RBS to charge some corporate customers for deposits in Britain

LONDON (Reuters) – Some large corporate clients who bank with Royal Bank of Scotland face the prospect of paying to hold cash in their accounts from Monday, a source close to the bank said, the first in Britain to charge negative interest rates on deposits.

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MARKETS:End of Week Report: Major US indexes moved little this past week but Nasdaq posts up 0.1% ,in 1st 8-week winning streak since 2010 The Dow and the S&P 500 both dropped 0.1% with #oil at $48.52 to end the week – @AceFinanceNews

#AceFinanceNews – Aug.20: Nasdaq drops 2 but posts 1st 8-week winning streak since 2010; Dow closes off 45 – CNBC

http://cnb.cx/2blXpNy

The major US indexes moved little this past week. The Dow and the S&P 500 both dropped 0.1% while the Nasdaq was up 0.1%.

US markets (close): DJIA 18,551.27 (-46.43/-0.25%), S&P 500 2,183.77 (-3.25/-0.15%), NASDAQ 5,238.38 (-1.77/-0.03%), NYSE 10,829.97 (-33.04/-0.30%)

Crude oil futures rise 30 cents, closing at $48.52 a barrel – AP

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