October, 2019

• 22 October

  Pound paths narrow as currency traders await Brexit deal votes

  

  Bloomberg As currency traders gird for parliamentary votes on Boris Johnson’s Brexit deal, their opportunity to win big on the pound is fading fast. The UK Prime Minister was expected to find out whether lawmakers are willing to back his plan, but if they reject it, the risk of a no-deal Brexit that would cause sterling to plummet is now …

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• 22 October

  European air regulators break from FAA on 737 Max return

  

  Bloomberg Europe’s top aviation regulator expects to take longer to get Boeing Co’s 737 Max back into service than the projected timeline being taken by the US, which would likely push the grounded plane’s return into next year on the continent. European Aviation Safety Agency (EASA) chief Patrick Ky met with officials from the US Federal Aviation Administration (FAA) to …

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• 22 October

  South African Airways recalls some planes for compliance checks

  

  Bloomberg Four airlines operating in South Africa were forced to delay flights and ground some planes after inspections were carried out overnight. State-owned South African Airways and Mango were affected as was Comair Ltd, which operates Kulula and British Airways domestically, according to statements. It’s not routine for airlines in South Africa to suffer simultaneous groundings, but it’s not yet …

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• 22 October

  Cathay cuts earnings outlook as travellers avoid Hong Kong

  

  Bloomberg Cathay Pacific Airways Ltd cut its earnings outlook after passenger traffic fell for a second month as protests that have put intense pressure on the carrier continued to disrupt travel and business in Hong Kong. Second-half financial results will be lower than those of the first half, Hong Kong’s flag airline said in a statement, reversing previous forecasts. Cathay …

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• 22 October

  Gulfstream unveils G700 in race for biggest private jet

  

  Bloomberg Gulfstream is angling to reclaim bragging rights as builder of the world’s biggest private jet. The planemaker unveiled plans to make a roomier version of its flagship G650, which was unseated last year as the largest luxury jet by Bombardier Inc’s Global 7500. Gulfstream’s new G700, with an expected debut in 2022, will be capable of flying 7,500 nautical …

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• 22 October

  Swatch ends Calvin Klein Swiss watch license

  Bloomberg Swiss watchmaker Swatch Group AG said it will let a licensing agreement with Calvin Klein expire after more than two decades. Recent “turbulence” at Calvin Klein’s management led to the decision to end the alliance, which covered watches and jewelry, the Swiss maker of Omega timepieces said in a statement. PVH Corp, the owner of Calvin Klein, named Cheryl …

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• 21 October

  DP World inaugurates Kigali logistics platform

  KIGALI / WAM Global trade enabler DP World inaugurated its Kigali Logistics Platform in the presence of President Paul Kagame of Rwanda, and DP World Chairman and CEO, Sultan Ahmed bin Sulayem. The facility, which has been operational since September 2018 in test mode, has an annual capacity of 50,000 TEUs. When operating at full capacity, it has the potential …

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• 21 October

  Oil deepens slide as concerns over global economy persist

  

  Bloomberg Oil fell again after a weekly loss amid ongoing concern that a fragile economic outlook will continue to weigh on fuel demand. Futures declined 0.6% in New York after dropping 1.7% last week. Policy makers in China, the world’s second-biggest oil consumer, are preparing for two key meetings with fresh evidence that economic growth will slip further from its …

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• 21 October

  WTO: China seeks $2.4bn in sanctions against US

  Bloomberg China is seeking $2.4 billion in trade countermeasures against the US in a seven-year-old case it lodged with the World Trade Organisation (WTO). In a document published on the WTO’s website on Monday, China requested that the Geneva-based trade arbiter discuss the matter at its next meeting of its dispute settlement body on October 28. “In response to the …

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• 21 October

  UBS is cutting 40 banking jobs in Asia

  

  Bloomberg UBS Group AG is cutting about 40 jobs in the Asia-Pacific region as part of a global push to trim costs and combine its trading units, according to a person familiar with the matter. The staff reductions are roughly split between UBS’s markets and investment-banking teams, with a majority at the level of vice president or below, the person …

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