February, 2020

• 25 February

  Shake Shack slips as sales outlook misses estimates

  Bloomberg Shake Shack Inc tumbled in late trading after the burger-and-fries chain gave a revenue projection for 2020 that fell short of analysts’ projections. Comparable-store sales — a key measure of restaurant and retail performance — and revenue also fell more than anticipated in the fourth quarter, as delivery growth slowed amid a shift to a partnership with Grubhub Inc. …

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• 24 February

  Oil dips, gold heads to $1,700 as virus rocks commodities

  

  Bloomberg Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared towards $1,700 an ounce amid a flight to haven assets. As the deadly virus spreads more widely outside China, raising the threat of a global pandemic, finance chiefs and central bankers from the world’s largest …

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• 24 February

  Mena’s water desalination market to hit $4.3b by 2022

  

  ABU DHABI / WAM Water scarcity in the region is of a rising concern, particularly as governments are moving away from reliance on traditional water resources to meet population demands, report findings have revealed. According to the ‘Mena Desalination Market’ report by Ventures Onsite, the Mena region’s investment in the water desalination market has increased “substantially”. It noted that 48 …

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• 24 February

  US-India to seal $3bn defense deals: Trump

  

  Bloomberg The US will sign military deals worth more than $3 billion with India on Tuesday, President Donald Trump said at the start of a two-day state visit to the South Asian nation. “We make the greatest weapons ever made. Airplanes. Missiles. Rockets. Ships. We make the best and we’re dealing now with India. But this includes advanced air-defense systems …

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• 24 February

  UAE business confidence high for 2020: Research

  Emirates Business UAE business leaders are confident in their company’s growth prospects for the first half of 2020, with 69% expressing they are ‘very confident’, according to independent research commissioned by leading international recruitment consul- -tancy, Robert Half UAE. Business leaders in UAE revealed that operational expansion is primary influence for their 2020 hiring strategy. When questioned on the rationale …

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• 24 February

  Dominion pipeline permit heads to court

  

  Bloomberg The fate of Dominion Energy Inc’s planned $8 billion Atlantic Coast Pipeline was expected to be tested on Monday, as the US Supreme Court hears arguments on a crucial permit that would let the natural-gas line cross under the Appalachian Trail. Dominion and President Donald Trump’s administration are asking the high court to jump-start the long-delayed project after a …

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• 24 February

  RWE backs ‘floating wind parks’ design

  

  Bloomberg RWE AG’s renewable energy arm is working with a Spanish company to develop new technology for floating wind farms as utilities explore how to generate power further out at sea. The German company will work with Spain’s Saitec Offshore Technologies to build a turbine that sits atop a pair of floating, steel-reinforced concrete hulls. The project marks an acceleration …

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• 24 February

  US stocks tumble amid China virus concerns; gold rises

  

  Bloomberg US equity futures tumbled alongside stocks in Europe and Asia on Monday as concerns mounted about the ability of authorities to keep the coronavirus from spreading further beyond China. Havens including Treasuries and gold jumped. Contracts on the three main US stock benchmarks were all down more than 2%, with those on the S&P 500 Index pointing to the …

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• 24 February

  European stocks fall on virus fears

  

  Bloomberg European equities haven’t had such a bad day in more than three years as increasing concerns over the economic impact of the coronavirus hurt travel and luxury sectors. The Stoxx Europe 600 Index fell as much as 3.6%, the most since June 2016, led by the auto, mining and travel sectors. Luxury companies tumbled on fears that the epidemic …

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• 24 February

  ECB offcials say governments should ready virus response

  

  Bloomberg European Central Bank (ECB) policy makers from two of the euro area’s biggest economies said governments must shoulder most of the burden for rebooting economies if the coronavirus has a deeper impact on growth. France’s Francois Villeroy de Galhau and Italy’s Ignazio Visco were speaking at the Group of 20 meeting of central bankers and finance ministers in Riyadh, …

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