October, 2019

• 26 October

  United targets big spenders with first class in small cities

  

  Bloomberg It’s not often that an airline decides to design its own airplane. On Sunday, United Airlines Holdings Inc will fly customers on a new regional jet crafted to its exact specifications, an aircraft that comes with 10 first- class seats. By putting premium perches on a small regional jet with a total of only 50 seats, United hopes to …

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• 26 October

  Branson tells Brexit opponents to stand firm against deal

  

  Bloomberg Billionaire UK entrepreneur Richard Branson said opponents of Brexit should hold out for a second referendum and not be seduced into backing Prime Minister Boris Johnson’s revised deal with the European Union. Concern about avoiding a no-deal split combined with a sense of fatigue surrounding the Brexit debate more than three years after the original vote to quit the …

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• 26 October

  Coty considering sale of its professional hair, nail units

  

  Bloomberg Coty Inc, under pressure to turn its business around, is considering a sale of its professional hair and nail products unit that includes the brands Wella, Clairol and OPI. The shares surged the most in more than five months. The cosmetics company hired Credit Suisse to help it explore options for the professional business, which sells to salons and …

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• 26 October

  P&G gains after posting strong sales growth

  Bloomberg Procter & Gamble (P&G) Co climbed after raising the high end of its full-year sales forecast and posting organic sales growth across all its divisions. Organic sales, which exclude things like acquisitions and currency fluctuations, rose 7% in its fiscal first quarter, topping the average of analysts’ projections for 4.8% growth. Revenue in fiscal 2020 will increase 3% to …

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• 23 October

  Boeing 737 Max design faulted in Lion Air crash

  

  Bloomberg Design flaws in Boeing Co.’s 737 Max, a failure to share vital information with pilots and airline maintenance stumbles contributed to last year’s crash of Lion Air Flight 610, which killed 189 people, investigators have concluded. In a nine-point presentation to victims’ families prior to the Friday release of a formal crash report, the Indonesian National Transportation Safety Committee …

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• 23 October

  Oil falls amid swelling stockpiles

  

  Bloomberg Oil fell as Russia sounded a cautious note on whether Opec and its partners may cut production further, while industry data showed US crude inventories were expanding. Futures fell as much as 1.3% in New York, erasing some of Tuesday’s gains as Russia’s Energy Minister Alexander Novak said no countries in the Opec+ coalition had proposed changing the current …

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• 23 October

  Ghana loses $190m grant after canceling power deal with PDS

  Bloomberg Ghana will no longer have access to $190 million in grants from the Millennium Challenge Corp. after terminating a private consortium’s contract to operate the country’s electricity distribution network. Ghana annulled agreement reached under US agency’s aid program as it questioned legitimacy of payment guarantees supplied by Power Distribution Services Ltd. to secure assets of Electricity Co. of Ghana …

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• 23 October

  US equity futures slip after Caterpillar earnings miss

  

  Bloomberg US equity-index futures dipped and European stocks struggled for traction as investors plowed through earnings reports without finding much to justify optimism for global growth. Treasuries and European bonds advanced broadly. S&P 500 and Dow Jones Industrial Average contracts fell after Caterpillar’s results missed analysts’ forecasts, sending the stock tumbling in pre-market trading. Contracts on the Nasdaq also edged …

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• 23 October

  Emerging-market needs end to trade war, not ‘rate cuts’

  

  Bloomberg Equity investors clamouring for interest-rate cuts in emerging economies are getting a wake-up call: monetary easing is failing to revive growth impaired by the trade war. Any stimulus unlocked by lower interest rates is being outweighed by weaker local currencies because trade tensions between the US and China are boosting the dollar. The underperformance of emerging-market stocks relative to …

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• 23 October

  UK banks survive scandal with better future ahead

  

  Bloomberg With the costliest UK banking scandal fading into memory, a Brexit deal looking more plausible than it once did and trading likely to surprise on the upside, British lenders are going into earnings season with the wind in their sails for once. That doesn’t mean the numbers won’t have ugly spots. Third-quarter results, which kick off this week, are …

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