November, 2019

• 2 November

  Qantas grounds 3 Boeing 737s as wing cracks found

  

  Bloomberg Qantas Airways Ltd grounded three Boeing Co 737s after discovering cracks near their wings during industry-wide inspections of high-mileage models of the workhorse jets. The Australian airline found hairline cracks on a structure known as the pickle fork, which connects the wings to the fuselage. The planes will be back in service by the end of the year, Qantas …

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• 2 November

  Lufthansa cabin crew vote for further strikes

  Bloomberg Deutsche Lufthansa AG faces strike action after a cabin crew union voted to escalate its conflict with Europe’s biggest airline group. The UFO union said in a statement that members voted for strike action at the group’s airlines including Lufthansa and Lufthansa CityLine after pay talks with company bosses broke down. The union will now decide when the strikes …

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• 2 November

  Forever 21 plans to close 60 fewer stores after rent cuts

  

  Bloomberg Forever 21 Inc will keep open more than 60 US stores previously set to shutter as part of the company’s bankruptcy restructuring after the retailer secured rent concessions from its biggest landlords, according to people with knowledge of the situation. It’s an early win for the fast-fashion company after it filed for Chapter 11 protection in September as talks …

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October, 2019

• 30 October

  Investment in GCC chemicals industry tops $140b in 2019

  

  DUBAI / WAM The GCC’s chemical-related investments have exceeded $140 billion in the first 10 months of 2019, led by consolidation, joint venture agreements and an increased number of merger and acquisition deals, according to estimates by the Gulf Petrochemicals and Chemicals Association (GPCA). The multi-billion-dollar investments made both within the region and international markets in the areas of refining, …

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• 30 October

  Saudi sovereign fund to invest $10bn in Brazil

  

  Bloomberg Saudi Arabia’s Public Investment Fund will invest $10 billion in Brazil and plans to use the country as a gateway to the rest of Latin America, the Brazilian government said. The investment comes after talks between President Jair Bolsonaro and Crown Prince Mohammed Bin Salman, Brazilian Foreign Affairs Minister Ernesto Araujo said. Bolsonaro met Bin Salman in Riyadh, where …

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• 30 October

  Russia working with UAE, Saudi to preserve energy market stability

  

  RIYADH / WAM A senior Russian trade official said that the UAE has demonstrated how a nation can successfully transform its economy, “by expeditiously investing its income from oil.” Speaking on the sidelines of the Future Investment Initiative currently running in Riyadh until October 31, the Head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told the Russian state …

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• 30 October

  US stocks fluctuate before Fed rate decision, Treasuries gain

  

  Bloomberg US equity-index futures drifted alongside stocks in Europe on Wednesday while Asian shares were mixed as markets largely entered a holding pattern in the countdown to the Federal Reserve’s policy decision. Treasuries reversed a small gain and the dollar erased a decline as growth data for the world’s largest economy beat expectations. Contracts on all three main American equity …

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• 30 October

  Timid recovery in UK stocks faces new hurdle: Polls

  

  Bloomberg Just when UK equities were starting to look good on receding Brexit uncertainty, a general election comes along that could make or break the market. After being long-time market pariahs, British stocks have been slowly gaining favour from both the buy and sell sides in recent weeks. An exchange-traded fund tracking UK mid-caps enjoyed record inflows, UBS Global Wealth …

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• 30 October

  India warns to ground Airbus aircraft after engine failures

  

  Bloomberg Close to 30 Airbus SE A320neo jets operated by two Indian airlines will be grounded if they don’t update some Pratt & Whitney engines within 15 days, the nation’s aviation safety regulator said. IndiGo, India’s biggest carrier, and rival Go Airlines India Ltd won’t be allowed to fly planes fitted with two unmodified PW1100-series engines that have been in …

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• 30 October

  Amazon drops grocery delivery cost in effort to catch rival Walmart

  

  Bloomberg Amazon.com Inc is lowering the cost of its grocery delivery service Amazon Fresh, the company’s latest effort to get more people to buy fruits, veggies, milk and meats online rather than going to the store. Amazon is also expanding fast delivery of online grocery orders around the country. Amazon Fresh, available in 22 metropolitan markets, will be included in …

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