January, 2020

• 12 January

  Online mattress firm Casper files for IPO

  

  Bloomberg Online mattress retailer Casper Sleep Inc filed for a US initial public offering, reporting growing revenue and losses amid heightened competition from imitators. The New York-based company in a filing with the US Securities and Exchange Commission listed the size of its planned offering as $100 million, a placeholder that will likely change. The share sale is being led …

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• 12 January

  Superdry warns on profit as UK holiday shopping dips

  Bloomberg UK retailers’ holiday tale of woes continued as apparel chain Superdry Plc said lower-than-expected sales for the period could wipe out its annual profit, sending its shares reeling. Another retailer, JD Sports Fashion Plc, said its full-year earnings will be in the upper range of previous guidance, but that was because of stronger performance outside the UK. The updates …

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• 12 January

  Uniqlo owner lowers profit outlook 11%

  Bloomberg Fast Retailing Co lowered its full-year operating profit outlook 11% as the Uniqlo owner’s international segment — a key driver of growth — was hurt by geopolitical turmoil in South Korea and Hong Kong. Asia’s largest retailer said earnings for the year through August will be 245 billion yen ($2.24 billion), according to a statement. Fast Retailing in October …

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• 11 January

  UAE expresses support for UN call to stop Mideast escalation

  

  NEW YORK / WAM The UAE has supported the call made by UN Secretary-General Antonio Guterres to stop escalation in the Middle East and renew international cooperation, reiterating its commitment to seeking political solutions, playing a mediation role, and promoting the values of tolerance in the region and beyond. During the UN Security Council Open Debate on the upholding of …

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• 11 January

  Haitham bin Tariq sworn in as new Sultan of Oman

  Muscat / WAM The Sultanate of Oman on Saturday officially announced the appointment of Sultan Haitham bin Tariq bin Taimour Al Said as the successor of the late Sultan Qaboos bin Said, who passed away on Friday evening. The Oman Defence Council in a statement said that it has decided to implement the will of Sultan Qaboos, which was assigned …

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• 11 January

  Nigeria complies with Opec+ output cuts in Dec

  

  Bloomberg Nigeria fully complied in December with limits to oil output set by Opec and other global producers, the head of the country’s energy company said. “We’ve met all of our commitments as of today,” Mele Kyari, group managing director of Nigerian National Petroleum Corp. (NNPC) as the state energy company is known, said in a Bloomberg Television interview in …

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• 11 January

  ‘UAE is a global role model in sustainable development’

  

  ABU DHABI / WAM The President of the 74th session of the UN General Assembly, Tijjani Muhammad-Bande, emphasised that the UAE is a global role model in sustainable development, in light of its significant global efforts in sharing renewable energy solutions across the world. He praised its continued support to the organisation’s programmes, especially at the humanitarian and development levels. …

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• 11 January

  ‘Fed’s Jerome Powell was early spotting labour market slack’

  

  Bloomberg Jerome Powell was an early adopter of the view that US unemployment could fall further than thought, but back then didn’t parlay that insight into a more dovish stance on interest rates. Transcripts of Fed meetings in 2014 showed then-governor and now-Chairman Powell was already among the most optimistic Fed officials about how many Americans could be drawn back …

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• 11 January

  Lisa Raitt appointed new CIBC ‘vice chair’

  

  Bloomberg Canadian Imperial Bank of Commerce hired former Conservative Party lawmaker Lisa Raitt as a vice-chair for global investment banking. Raitt joins CIBC on January 27 and will focus on developing and fostering senior-level client relationships and business development globally for CIBC’s capital markets division, the Toronto-based bank said in a statement. She’ll be based in Toronto. “Lisa’s experience leading …

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• 11 January

  World Bank cuts Ethiopia growth forecast to 6.3%

  

  Bloomberg The World Bank cut its forecast for Ethiopia’s economic growth in the 2020 fiscal year to 6.3%, well below the government’s projection. The National Bank of Ethiopia has forecast that gross domestic product growth would accelerate to 10.8% for the fiscal year ending in July, up from a 9% pace in fiscal 2019 as the government implements a blueprint …

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