Bloomberg A Federal Aviation Administration (FAA) official wrote a memo last month saying that Southwest Airlines Co should ground 49 of its airliners because repairs were performed that didn’t meet legal standards. There is “a high likelihood of a violation of a regulation, order or standard” of the FAA, and the US regulator needs to take immediate action to revoke ...

Bloomberg Amazon.com Inc plans to launch a new supermarket brand distinct from the Whole Foods Market chain the company acquired two years ago, a sign of the retail giant’s hunger for a slice of the grocery market beyond high-end organic food. The company has posted four job listings for “Amazon’s first grocery store” in the Woodland Hills neighbourhood of Los ...

Bloomberg Beyond Meat CEO Ethan Brown may not be selling his company shares anytime soon but that isn’t stopping other executives from cashing out gains after restrictions ended last month. CFO Mark Nelson is the latest executive to sell 70,000 shares for $5.7 million, reducing his stake in Beyond Meat by 16%, according to a filing. Chief People Officer Cari ...

Bloomberg South African Airways (SAA) has started a restructuring process that could see the cash-strapped state-owned carrier cut its workforce by almost a fifth. As required by South African law, the airline has started talks with labour unions about its plans, which could affect 944 of its 5,149 employees, SAA said in an emailed statement. The proposed reorganisation includes all ...

Bloomberg Malaysia’s aviation-safety downgrade makes Asia the region with the most markets where airlines are restricted from US airspace. The US Federal Aviation Administration (FAA) cut Malaysia to a Category 2 nation, banning the country’s carriers from setting up new flights to anywhere between New York and San Francisco. It cited deficiencies by the nation’s civil-aviation authority in areas ranging ...

ABU DHABI / WAM Intercontinental Exchange, Inc., a leading operator of global exchanges and clearing houses and provider of data and listings services, announced on Monday that Abu Dhabi National Oil Company (Adnoc), and nine of the world’s largest energy traders are partnering with ICE on the launch of ICE Futures Abu Dhabi, a new exchange in Abu Dhabi Global ...

ABU DHABI / WAM Abu Dhabi Future Energy Company (Masdar), a global leader in renewable energy projects, sustainable real estate, sustainable mobility and waste to energy, announced its investment in financing ‘Hero Future Energies’ — a clean-tech company. This is the second investment in the Hero Future Energies (HFE), portfolio, following initial $125 million made by International Finance Corporation (IFC), ...

Bloomberg Oil retreated from a six-week high as ambiguous progress in US-China trade talks and worsening violence in Hong Kong damped sentiment across financial markets. Futures fell 1.2% in New York after President Donald Trump said that, while discussions with Beijing are moving along “nicely,” a deal hasn’t been reached and he won’t eliminate all tariffs. Meanwhile, Oman’s Oil Minister ...

ABU DHABI / WAM The Middle East region is witnessing a significant push towards downstream projects to improve refinery output and capacity, according to Paul Carthy, Managing Director, Accenture Energy Industry Group, Middle East and Turkey. Speaking to the Emirates News Agency (WAM), on the sidelines of the Abu Dhabi Petroleum Exhibition and Conference (Adipec), which opened on Monday, Carthy ...

ABU DHABI / WAM The value of humanitarian and relief programmes and development projects implemented by the Emirates Red Crescent (ERC), in Indonesia since 1993 amounts to over AED440.4 million. The ERC recently launched several new projects, in coordination with the UAE Embassy in Jakarta, as part of its development efforts in Indonesia, including the construction and maintenance of 42 ...