February, 2023

• 13 February

  ‘Nimran’ crowned champion of Adnoc 22-foot sailing race

  

  Abu Dhabi / Gulf Time The loader “Nimran”, owned by Al Nokhatha Majed Ahmed Abdullah Al Marzouqi, was crowned champion of Adnoc 22-foot sailing race, organised by Abu Dhabi Marine Sports Club on Saturday. The race witnessed the remarkable participation of sailing loaders from various emirates. The champion loader won 30 thousand dirhams as first place prize. The race, which ...

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• 13 February

  DOT attorney seeks Southwest HQ visit to check on meltdown

  

    Bloomberg The top attorney at the US Department of Transportation (DOT) planned to visit Southwest Airlines Co’s headquarters as part of an investigation into the carrier’s December operations meltdown that affected more than 2 million people, according to government emails. DOT General Counsel John Putnam detailed a proposed agenda for the trip in an earlier email to members of ...

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• 13 February

  Amazon’s subsidiary lays off 20% of staff

  

    Bloomberg Amazon.com subsidiary Zappos laid off more than 300 employees — about 20% of its workforce — in January, the Wall Street Journal (WSJ) reported, citing people familiar and a company memo. The cuts, described as being part of broader layoffs at the company, included customer-service representatives at the online shoe and clothing retailer, which Amazon bought in 2009, ...

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• 13 February

  Coach owner’s shares jump after raising full-year earnings outlook

  

  Bloomberg Tapestry Inc shares jumped the most since November after the high-end retailer raised its full-year earnings outlook, citing more moderate currency headwinds and a sales pickup in China. The Coach owner now sees earnings per diluted share in the range of $3.70 to $3.75. That’s up from its previous range of $3.60 to $3.70 and above the average estimate ...

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• 13 February

  Inditex dips after giving store staff in Spain 20% pay rise

  

    Bloomberg Inditex SA shares dropped after the owner of the Zara clothing chain agreed to raise the pay of its store workers in Spain by an average of 20%. The retailer agreed to pay all store workers in Spain a minimum of €1,500 ($1,610) per month, Spanish union UGT said in a statement. That’s a hike of up to ...

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• 13 February

  Billionaire trio behind Americanas to lead $379m funding

  

    Bloomberg Distressed Brazilian retailer Americanas SA got court approval for a debtor-in-possession (DIP) financing plan of up to 2 billion reais ($379 million) through the sale of local bonds, with its biggest shareholders willing to fund up to half of it. The Rio de Janeiro-based company will sell 1 billion reais of local notes in a first tranche which ...

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• 13 February

  US reopens Montana airspace over ‘radar anomaly’ concern

  Bloomberg The US reopened airspace over Montana after temporarily ordering a closure to investigate a “radar anomaly,” hours after a third object was shot down in North America this month. The North American Aerospace Defense Command, a joint US-Canada military command responsible for aerospace and maritime warning, said it detected the anomaly and sent fighter aircraft to investigate. The aircraft ...

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• 13 February

  Heathrow staff plans to ballot for strikes

    Bloomberg Heathrow Airport’s security, engineering and firefighting staff represented by the Unite Union will next week begin balloting for strikes, adding pressure to UK’s transport network which has been hit by a wave of industrial action. More than 3,000 members of UK’s Unite Union will start voting on February 17, with the ballot closing on March 17. These workers ...

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• 13 February

  Rising India rates to upset PM Modi’s math on small savings

  

  Bloomberg India proposed a lower-than-expected market borrowing program, as part of a plan that sought to bridge its budget deficit by boosting reliance on the nation’s small savings pool. The decision triggered the biggest drop in the benchmark 10-year bond yields in over two months. Bonds have since pared their gains, with the budget math increasingly looking daunting as commercial ...

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• 13 February

  Bangkok-listed telecom firm weighs options for $3 billion tower assets

  

    Bloomberg Advanced Info Service Pcl (AIS), Thailand’s biggest telecommunications group, is considering options for its tower business including a stake sale, according to people familiar with the matter. The Bangkok-listed company has held talks with potential advisers for a strategic review for the assets, the people said, asking not to be identified because the matter is private. Another option ...

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