December, 2019

• 3 December

  Most valuable Indian lender sees signs of a rural revival

  

  Bloomberg HDFC Bank Ltd, India’s most valuable lender by market capitalisation, sees tentative signs of a revival in rural areas at a time when the wider economy is sputtering. “The recent loan outreach programmes underway in rural areas have given us the sense that the consumption in rural and semi-urban areas is turning more positive,” HDFC Bank Executive Director Kaizad …

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• 3 December

  Philippine seeks tough anti-money laundering laws

  Bloomberg Financial regulators are pushing for legal changes in order to avoid the Philippines being placed on a global monitoring list for countries with weak anti-money laundering and terrorism financing controls. The government needs to implement the changes by October or risk being placed on a “grey” list by the Paris-based Financial Action Task Force, the Philippines Anti-Money Laundering Council …

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• 3 December

  China to revamp coal-fired power to help ailing industry

  

  Bloomberg China is pursuing a three-year pilot programme, led by five of its biggest utilities, to integrate and cut some coal-fired power capacity to help the debt-saddled industry, state media reported. The pilot, which runs through 2021, will seek to consolidate coal-power assets within five northwestern regions and reduce their capacity by up to one-third, according to a Shanghai Securities …

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• 3 December

  Repsol pledges zero emissions by 2050

  

  Bloomberg Repsol SA embarked on the most ambitious attempt yet by an oil major to align itself with the Paris climate goals, saying it will eliminate all greenhouse gas emissions from its own operations and its customers by 2050. The Spanish giant’s exploration and production unit will focus on value instead of output growth, according to a statement from the …

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• 3 December

  IndiGo stops pushing engines to the limit after shutdowns

  

  Bloomberg IndiGo has told its pilots to stop pushing engines on its new Airbus SE jets to the limit when the planes are climbing, after India’s aviation regulator said the practice may have contributed to turbines failing in the air. All the budget airline’s A320neo aircraft now use a lower thrust setting following take off, according to a spokeswoman from …

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• 3 December

  Modi mulls easing foreign control rule to aid Air India sale

  

  Bloomberg India is considering amending a rule to allow overseas control of local airlines, according to a person familiar with the matter, which may help its indebted national carrier lure a foreign suitor after multiple failed attempts for a sale. At a meeting in early November, India’s Department for Promotion of Industry and Internal Trade asked the aviation ministry if …

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• 3 December

  South African airways in limbo as state considering bailout

  

  Bloomberg South African Airways (SAA) said it’s waiting for the government to tell it whether it will provide the national carrier with the money needed to keep flying, rendering it unable to publish its results for the year through March. “SAA cannot finalise its annual financial statements within the prescribed time until the going concern status is confirmed,” the carrier …

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• 3 December

  Italy to approve $442mn loan to keep Alitalia flying

  Bloomberg Italy is set to approve a new 400 million-euro loan for failed airline Alitalia, people familiar with the situation said. The government will give the green light to the funding at a cabinet meeting, according to the people, who asked not to be identified discussing confidential deliberations. The new loan throws a lifeline to Alitalia as government continues to …

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• 3 December

  Lord & Taylor returns to NYC with a mini store

  

  Bloomberg Lord & Taylor began 2019 by closing its massive New York store after more than a century in business. It will end the year by opening a tiny new one. The department store will return to Manhattan this holiday season as a temporary shop, according to a person familiar with the matter who asked not be identified because the …

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• 3 December

  EasyJet set for a return to FTSE 100

  Bloomberg EasyJet Plc is set to return to Britain’s benchmark FTSE 100 index six months after the budget carrier was demoted, the benchmark compiler said. The airline will replace specialist insurer Hiscox Ltd., which will be relegated to the FTSE 250, according to a statement from FTSE Russell. The index review will be based on closing prices on Tuesday and …

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