1. Singapore’s Temasek and Britain’s Metric Capital have bought into Nusr-Et steakhouse owner D.ream in a deal valuing the Turkish firm at $US1.2 billion. Nusr-Et was made famous by butcher-turned-social media star Nusret Gokce, who went viral under the nickname “Salt Bae” in 2017 after posting videos of himself salting meat.
2. UBS has suspended research data feeds to Bloomberg and other third-party platforms which are unable to ensure the data is only seen by the Swiss bank’s clients.The move is in response to the European Union’s Markets in Financial Instruments Directive II, which went live in January.
3. Argentina’s herd will shrink by up to 1 million head of cattle next year after the worst drought in decades. A wave of hot, dry weather since November has cut 40% off overall grains production and will knock off an estimated 0.7% from Argentina’s gross domestic product this year.
4. An escalation in US sanctions against Moscow risks derailing a fragile recovery in Russia’s economy. The United States imposed major new sanctions against Russia on Friday, striking at senior Russian officials and some of the country’s biggest companies.
5. Saudi Aramco will sign eight deals with French companies worth $US10 billion during an official trip to Paris by Crown Prince Mohammed bin Salman.The prince, who manages economic and energy policy for the world’s top oil exporter, is on a three-day trip to France.
6. Jack Ma, founder of Chinese e-commerce giant Alibaba, urged Facebook Inc to resolve its data privacy problems.Ma was speaking at the Boao Forum for Asia in China’s southern Hainan province.
7. Spain’s banking bailout fund FROB could be looking at selling bigger stakes in the future privatization processes of Spain’s state-controlled Bankia.The government has until the end of 2019 to sell off the 61% stake it holds.
8. Debt-laden Teva Pharmaceutical Industries said it would close an unprofitable plant in the Israeli port city of Ashdod in March 2019 after failing to find a buyer for the facility. Teva, the world’s largest generic drugmaker and Israel’s biggest company, said half of the factory’s 175 workers would lose their jobs in the coming months.
9. Uber acquired electric bike service JUMP Bikes, in a deal that further consolidates the crowded bike-sharing industry. JUMP is a dockless electric bike service that has rolled out in San Francisco, where it has a small presence with 250 bikes.
10. HSBC will seek to cut internal bureaucracy and expand investment in China’s southern region to the rest of the country.Mark Tucker, the bank’s first externally appointed chairman, said trimming the bank’s bloated governance structure was one of his top priorities.
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