September, 2022

• 9 September

  Walmart and McDonald’s kick off post-Labour Day borrowing spree

  

  Bloomberg The expected post-Labour Day high-grade borrowing rush is underway, with Target Corp, Walmart Inc, McDonald’s Corp, Lowe’s Cos, and Nestle SA among the companies tapping the US investment-grade market. Eighteen issuers are selling new debt, with more deals possible. Companies are rushing into the market despite increasing volatility and higher borrowing costs over the last several weeks. Syndicate desks ...

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• 9 September

  Alpha Flight Services expands into Ras Al Khaimah

  

    Dubai / Gulf Time Alpha Flight Services (Alpha), a leading UAE-based catering, retail, and hospitality services provider, has signed a 10-year concession agreement with Ras Al Khaimah International airport (RKT). The partnership will see Alpha Flight Services invest in infrastructure and provide in flight catering services to more than 10 airlines at the airport. In addition, it will operate ...

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• 9 September

  Instacart buys online local grocery startup

    Bloomberg Instacart Inc is acquiring Rosie Applications Inc, an online grocery startup focused on local retailers and wholesalers, as it moves to consolidate and expand its share of the online grocery delivery market ahead of an anticipated initial public offering (IPO) this year. Rosie is Instacart’s second acquisition this month, following its purchase of pricing and promotions platform Eversight ...

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• 9 September

  US lays out $50b chips plan, to issue funds guide in 2023

  

    Bloomberg The Biden administration published its strategy for subsidising US output of semiconductors, with the first phase of funding potentially being rolled out next spring, Commerce Secretary Gina Raimondo said. Smaller, simpler projects involving expansion of existing facilities will be the first to receive funds, followed by more complex projects for so-called leading-edge chips, which the US currently doesn’t ...

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• 9 September

  UK house prices jump led by surge in London

  

    Bloomberg UK house prices rebounded in August, led by the strongest growth in London in six years, one of the nation’s biggest mortgage lenders said. Halifax said its measure of property prices rise 0.4% last month after a 0.1% dip the month before, bringing the average cost of a home to a new record of £294,260. The increase defied ...

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• 9 September

  European sugar plants start early to beat worst of energy crisis

  

    Bloomberg European sugar producers are processing crops earlier than normal this year in a bid to avoid the worst of a winter energy crunch, but at the risk of smaller output. Starting a few weeks earlier than usual should bring forward end of campaign, which typically wraps up during the coldest months — when energy supply is expected to ...

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• 9 September

  GM’s Cruise recalls 80 self-driving cars

    Bloomberg General Motors Co.’s Cruise self-driving car unit has recalled an older version of software used by its robotaxis at the time of a crash in San Francisco in June, according to federal transportation regulators. Cruise has updated the automated driving system, or ADS, software and all affected vehicles were repaired in July, the National High Traffic Safety Administration ...

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• 9 September

  European stocks pare gains with all eyes on ECB rate hike

  

    Bloomberg European stocks pared early gains, with investors cautious before a potential jumbo interest rate hike by the region’s central bank. The Stoxx 600 Index surrendered an initial 0.6% advance as retailers slumped after a profit warning from Primark-owner Associated British Foods Plc. US equity futures were little changed following a near-2% advance in the S&P 500 and Nasdaq ...

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• 9 September

  Asian airline stocks are best performers among global peers this year

  

  Bloomberg Asian airline stocks are by far the best performers among global peers this year, racking up gains as most of the region reopens for travel even as China sticks with its Covid-Zero strategy, imposing lockdowns and limiting travel. Airline shares in Asia are the only gainers on a Bloomberg gauge of global carriers, led by Cathay Pacific Airways Ltd, ...

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• 8 September

  Al Seer Marine signs deal with Netbulk to boost freight services

  

    ABU DHABI / WAM Al Seer Marine, a subsidiary of International Holding Company (IHC), has announced entering into a collaboration agreement with Netbulk Pte Ltd, a one-stop maritime solution company based in Singapore, as part of its growth strategy to expand its worldwide freight services. Founded in 2015, Netbulk provides a wide range of commercial activities, including trading, chartering, ...

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