January, 2020

• 7 January

  Bed Bath & Beyond sells some real estate

  

  Bloomberg Bed Bath & Beyond Inc, the home-goods retailer mired in a lengthy sales slump, rose after selling some real estate in a deal that generated net proceeds of more than $250 million. The properties represent about 2.1 million square feet of space, including retail stores, a distribution facility and offices, the company said. It is leasing back the space …

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• 7 January

  Pier 1 to cut staff, weighs bankruptcy plan; stock dips

  Bloomberg Pier 1 Imports Inc is planning to dismiss about 40% of its headquarters staff and shut about 450 stores in an attempt to overhaul the troubled home furnishings business. The retailer has drafted a bankruptcy plan and last month made a presentation to creditors that envisioned a smaller company with about $900 million in annual sales, according to people …

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• 6 January

  Oil touches $70 as US-Iran clash sparks supply fears

  

  Bloomberg Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the US assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the US State Department warned of a “heightened risk” of missile attacks near energy facilities in Saudi Arabia. …

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• 6 January

  Value of ‘Internet of Medical Things’ in Mena to reach $9 billion by 2022

  

  DUBAI / WAM A recent report has noted that the value of the Internet of Medical Things (IoMT), for the Mena region is expected to increase to $9 billion by 2022. The report was released in the run-up to Arab Health, the Mena region’s largest exhibition for healthcare and trade professionals. The exhibition will showcase the role technology has on …

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• 6 January

  Gold surges to 7-year high

  Bloomberg Gold surged to its highest since 2013 as rising tensions in the Middle East stoked demand for havens, with Goldman Sachs Group Inc. seeing more room to run. Palladium extended gains to a fresh record. Bullion neared $1,600 an ounce after Tehran said it would no longer abide by any limits on its enrichment of uranium following the killing …

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• 6 January

  Boeing drops on reports of 737 Max issues, fundraising

  

  Bloomberg Boeing Co. fell in early trading on reports that the company is weighing a move to raise more debt following the grounding of its 737 Max and that the jetliner’s return to service could face further complications. While Boeing had about $20 billion in available funds at the end of the third quarter, costs stemming from the Max crisis …

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• 6 January

  US futures decline on Iran fallout; brent crude hits $70

  

  Bloomberg Stocks extended their losses on Monday and oil built on gains as investors continued to grapple with the aftermath of a US airstrike that killed a powerful Iranian general. Gold surged to the highest in more than six years. Futures for the main American equity gauges retreated for a second session after Iran said over the weekend it would …

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• 6 January

  China and Hong Kong stocks slide in sharp selling on trade worries

  

  Bloomberg Chinese and Hong Kong stocks saw sharp afternoon selling, in part on fresh worries about US-China trade, and the concerns also pressured the yuan. After sporting gains despite selling in most of Asia, the Shanghai Composite Index fell as much as 0.6% on the day before ending just 0.01% lower. The Hang Seng Index in Hong Kong was down …

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• 6 January

  China pledges to ‘win’ battle against rising financial risks

  

  Bloomberg China pledged to step up measures to shore up its troubled banks and small businesses while continuing a crackdown on shadow banking and property speculation, in a difficult balancing act that risks exacerbating a build up in bad debt at its traditional lenders. As concerns mount over the state of China’s $45 trillion financial system, the nation’s central bank …

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• 6 January

  Pound surges hoping BOE will hold rates

  

  Bloomberg The pound rebounded from its new year hangover, on speculation the Bank of England could avoid an imminent cut to interest rates following a post-election economic boost. Sterling advanced against all major peers and halted its losing streak since the start of 2020, after the UK’s services sector unexpectedly showed signs of strengthening. This may ease pressure on the …

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