Bloomberg The charts are saying to sell energy shares. Cornerstone Macro Head of Technical Analysis Carter Worth is recommending an underweight on the best-performing sector in the S&P 500 over the past week and a half. Worth said his call comes from analyzing the chart patterns of each of the stocks that compose the Russell 3000 Energy sector. “What we …

Bloomberg Oando Plc is looking to boost crude output from next year as the Nigerian producer breaks the back of a $2.5 billion debt burden built up through the 2014 acquisition of oil and gas assets from US giant ConocoPhillips. The borrowings will be almost 90 percent lower by the third quarter of 2019 and the company is now preparing …

Bloomberg Colombia’s Ecopetrol SA plans to expand its oil and gas reserves through acquisitions, while also increasing its presence in the US. The state-owned oil company has identified assets that it may consider buying, Chief Executive Officer Felipe Bayon said at the New York Stock Exchange. “We’re trying to make it happen this year.” “It needs to be the right …

Bloomberg Londoners are buying more homes outside the capital as prices remain too high, even after the end of a decade-long housing boom. In the first half, Londoners bought more than 30,000 homes outside the city, a 16 percent rise from a year ago and 61 percent more than in the same period a decade earlier, according to research by …

Bloomberg Global carriers have flocked to India, lured by a domestic travel boom and what’s expected to be the world’s third-biggest aviation market by 2025. Yet India has proven an intensely competitive market, where profits are scarce and the life expectancy of weaker airlines is anything but certain. Jet Airways India Ltd., one of the first carriers to launch after …

Bloomberg The sale of Toys ‘R’ Us’s last and most valuable remaining asset, its Asia operations, has become caught up in a battle between two groups of hedge funds over the future use of the brand by stores in that region. One group of funds, including Cerberus Capital Management and Cyrus Capital Partners, owns notes issued by the Asian stores …

Bloomberg A vote on unionisation by 2,700 United Airlines in-flight catering workers can move forward over the company’s objections, the general counsel of the National Mediation Board ruled. The workers, who prepare and transport food for flights, are the only group of front-line United employees who don’t have union representation. In January, the hospitality union Unite Here filed a petition, …

Bloomberg Air France-KLM Group’s French unions are drawing up a list of demands to present to incoming CEO Ben Smith as they continue to bristle over the appointment of a first foreign boss and the 300 percent salary hike that lured him. The Canadian, who starts before of end of next month, will be greeted by requests including higher pay …

RAS AL KHAIMAH / WAM The total value of real estate transactions in Ras al-Khaimah rose to AED2.7 billion in the first half of 2018, an increase of 33 percent compared to the corresponding half of 2017, according to a report issued by the Lands and Properties Sector at the emirate’s municipality. The bi-annual report indicated that 2,632 real estate …

RAS AL KHAIMAH / WAM Julphar has signed an agreement with leading global medical technology company BD (Becton, Dickinson and Company) to supply disposable insulin pens in the UAE. BD develops innovative technologies, services and solutions that help advance both the clinical process for healthcare providers and clinical therapy for patients, including a wide variety of insulin delivery devices for …