January, 2020

• 4 January

  Ex-US energy head joins Energy Transfer board

  

  Bloomberg Former US Energy Secretary Rick Perry is joining the board of the general partner that controls Dallas-based pipeline giant Energy Transfer LP. The move puts Perry, who departed the Energy Department in December, back at the table of one of the biggest pipeline operators in the US Billionaire Kelcy Warren’s Energy Transfer has made headlines for pursuing large projects …

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• 4 January

  Pier 1 to close more stores, cut debt in expanded turnaround

  

  Bloomberg Pier 1 Imports Inc is planning a significant increase in store closings as the distressed home-furnishings chain seeks to cut costs and turn around operations. The company expects to announce the new round of shutdowns when it reports results for its third fiscal quarter next week, according to people with knowledge of the plan. The company aims to restructure …

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• 4 January

  Next profit forecast defies UK’s gloomy retail outlook

  

  Bloomberg Fashion retailer Next Plc posted better-than-expected holiday sales and forecast an increase in fiscal 2021 profit in a welcome boost for the beleaguered UK retail market. Pretax profit will rise 1% to 734 million pounds ($963 million) in the year through January 2021, Next forecast in a statement. An extra week of sales next year may generate additional earnings, …

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• 4 January

  Louis Vuitton to shut Hong Kong store amid protests

  

  Bloomberg LVMH, the world’s largest luxury conglomerate, plans to close a store in Hong Kong’s shopping district as overall retail sales dip amid anti-government protests, according to a media report. The decision comes after Wharf Real Estate Investment Co, the owner of the Times Square mall in Causeway Bay, refused the French retailer’s request to lower rents, the South China …

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• 4 January

  UK restaurant group aims to expand in US after New York opening

  

  Bloomberg New York can be harsh on foreign restaurateurs coming to town. When D&D London opened Bluebird London in Columbus Circle in September 2018, Eater described it as “New York’s worst new restaurant of 2018.” In the New York Times, Pete Wells said: “Because you are in an English restaurant, you will be curious about the English food. Because you …

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• 4 January

  Airbus gains after its late dash to meet 2019 target

  Bloomberg Airbus SE shares climbed the most in three months after the aircraft manufacturer looked on course to meet its full-year deliveries target, strengthening its hand against wounded rival Boeing Co. A December flurry of Airbus planes sent to buyers pushed the 2019 number to about 860, based on preliminary findings, according to a person familiar with the matter, who …

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• 4 January

  India builder blames government for not paying debt on time

  

  Bloomberg Peninsula Land Ltd, an Indian property developer, blamed overdue rent from prime minister Narendra Modi’s government for missing a 23.5 million rupees ($330,000) debt payment. It couldn’t pay State Bank of India (SBI) on time because India’s tax departments, which had leased office space from Peninsula, were delaying rent payments, the company said in a filing. The loan used …

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• 4 January

  Tesla deliveries set record

  

  Tesla Inc shares opened at new highs after the electric-car maker reported a new record for quarterly deliveries of 112,000 units in the final three months of 2019. The electric-vehicle maker handed over 92,550 Model 3 and 19,450 Model S and Model X electric vehicles in the fourth quarter, according to a statement, eclipsing its previous total best of 97,000 …

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• 4 January

  Apple shares top $300 amid optimism about holiday sales

  

  Bloomberg Apple Inc shares surpassed $300 amid predictions for a robust holiday quarter, demand for wearables such as AirPods and planned services including streaming TV. Shares of the iPhone maker rose 2.3% to close at a record $300.35, topping the $300 mark for the first time on a split-adjusted basis. The latest gain was in stark contrast to the dismal …

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• 4 January

  Amazon, Google to hit CES with digital assistants in tow

  

  Bloomberg The world’s biggest technology companies are heading to Las Vegas for the annual CES trade show next week, with even Apple Inc making a rare official appearance. But don’t expect any breakthrough new hardware. Amazon.com Inc and Google will promote existing digital-assistant technology through their own internet-connected gadgets and similar products made by other firms. There should also be …

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