April, 2016

• 14 April

  Top firms to bid for Deutsche’s Abbey Life

  

    Reuters Britain’s Legal & General Group PLC and Swiss Re AG are among firms said to be weighing bids for Deutsche Bank AG’s Abbey Life Assurance Co, sources familiar with the matter said. In September, it was reported that the German lender was exploring the possible sale of its British insurance unit Abbey Life. Phoenix Group Holdings, Britain’s largest ...

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• 14 April

  World Bank and China-backed infrastructure bank join hands

  

    Washington / AFP The World Bank and the new China-backed Asian Infrastructure Investment Bank (AIIB), originally seen as possible rivals, joined hands with an agreement to co-finance projects. The two development banks signed off on a framework for working together on infrastructure programmes over the coming year which will give the World Bank some crucial oversight on how projects are ...

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• 14 April

  Lufthansa talks to SAS, Brussels Airlines to spread Eurowings

  

    FRANKFURT / Reuters Lufthansa is in talks with the owners of Scandinavian carrier SAS and Brussels Airlines to expand the number of destinations it flies to and grow its low-cost Eurowings business, people close to the German airline said. Two sources said that Lufthansa had been in talks with the owners of SAS since the autumn, which could lead ...

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• 14 April

  US retail sales fall in March as auto sales drag

    Reuters US retail sales fell in March, dragged down by the auto sector, according to official data that suggested tepid consumer spending. The Commerce Department said retail and food services sales fell 0.3 percent in March and after sales in February were flat. The month-over-month decline was due to a 2.1 percent drop in motor vehicle sales. Stripping out ...

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• 14 April

  Poundland sees return to sales growth this year

  

    LONDON / Reuters British discount retailer Poundland expects to return to underlying sales growth this financial year after its last one was hit by disruption from the acquisition of a rival and the addition of more than 200 stores, it said on Thursday. The company, which sells everything from washing detergent to boxes of chocolates to packs of batteries ...

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• 14 April

  Casino quarterly French sales up on growth at hypermarkets

  

    Paris / Bloomberg Casino Guichard-Perrachon SA, the French grocery retailer targetted by short seller Carson Block, reported higher first-quarter sales in its home market, easing pressure on Chief Executive Officer Jean-Charles Naouri. Revenue in France rose 2.8 percent to 4.55 billion euros ($5.1 billion), Saint-Etienne, France-based Casino said on Thursday in a statement. Analysts predicted 4.52 billion euros. French ...

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• 14 April

  McDonald’s targetting buyout firms as it seeks to sell North Asia stores

  

    HONG KONG / Reuters In a bid to increase its retail footprint, McDonald’s Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources (Holdings) for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters. The US fast food giant is adopting a ...

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• 14 April

  Utility trumps luxury as China private jet buyers fly economy

  

    SHANGHAI, SINGAPORE / Reuters Makers of private jets for China’s elite are shifting their focus from luxury to convenience, as a cooling economy and long-running crackdown on corruption prompt customers to demand smaller planes and even consider second-hand deals. Utility is the watchword, say industry insiders, as buyers who once enlisted Feng Shui masters to help them design cabin ...

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• 14 April

  World’s first Tiananmen museum to close doors in Hong Kong

  

    Hong Kong / AFP The world’s first museum dedicated to China’s Tiananmen Square crackdown is to close its doors in Hong Kong, with organisers saying they believe they are being targeted for political reasons. It comes at a time when concerns are growing in the semi-autonomous Chinese city that Beijing is tightening its grip. There has been keen interest in ...

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• 14 April

  European inspiration with clear-cut interiors

  

    Our Correspondent/ Emirates Business A casual yet refined dining concept serving French-European delicacies from 10 am until late evening, Classic Car Cafe boasts of a relaxing atmosphere and mouth-watering food served in the backdrop of classic cars. The perfect place to socialise — where business colleagues; families and groups of friends catch up over food. With the classic car ...

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