August, 2019

• 19 August

  Cathay under scrutiny as CEO takes fall for protests

  

  Bloomberg Cathay Pacific Airways Ltd is counting on the resignation of its British chief executive officer, Rupert Hogg, to move beyond the tumult that saw its employees’ participation in the Hong Kong protests draw the ire of Beijing. But will it be enough? Incoming CEO Augustus Tang has the delicate task of continuing to placate China, an increasingly important market …

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• 19 August

  Vegan sea urchin soon to start showing up on sushi counters

  

  Bloomberg The meat-free movement is finding its way into strange and exotic dishes. The latest example: imitation uni. Usually, the orange innards of sea urchins served in sushi restaurants are harvested from spiky creatures that live on seabeds. The delicacy requires much labour to collect and keep fresh. That makes it one of the most expensive items on menus; a …

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• 19 August

  Tapestry hit by downgrades over Kate Spade

  Bloomberg Disappointing results at Tapestry’s Kate Spade line prompted a string of rating downgrades on the stock, with analysts saying a recovery may take several quarters. After sliding 22 percent to a 10-year low, Tapestry shares pared some of the losses to rise as much as 3.4 percent in New York. Credit Suisse analyst Michael Binetti said, “Kate outlook is …

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• 19 August

  Amazon, Swatch and the risks of a global recession

  

  Bloomberg Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates. In recent recessions, technology and finance were the triggers — the internet bubble caused the 2000 market crash …

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• 18 August

  UAE a key centre for launch of relief, development initiatives

  

  ABU DHABI / WAM The UAE has carried out relief and development initiatives in challenging humanitarian situations in many regions around the world, a top official said on the occasion of World Humanitarian Day. Such humanitarian projects have supported victims of crises, conflicts and wars and contributed to improving their lives, Mohammed Haji Al Khouri, Director-General of Khalifa bin Zayed …

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• 18 August

  Trump advisers say no recession on the horizon

  

  Bloomberg Larry Kudlow pushed back on Sunday on the notion that the US economy is headed towards a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss …

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• 18 August

  US oil export race rages

  

  Bloomberg The race to develop oil terminals that can fully load supertankers on the US Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead. Over a year, more than 10 projects have been proposed for terminals that, combined, will be able to load 8 million barrels a day onto very …

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• 18 August

  Energy stocks in Canada ‘decoupling’ from oil seen as worst-ever on record

  

  Bloomberg The days when energy stocks and price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. The ratio of the iShares S&P/TSX Capped Energy Index ETF to West Texas Intermediate crude oil is at an all-time low, according to data …

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• 18 August

  Battery startup with $4.5bn plan has vision for Nordic hub

  

  Bloomberg Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.” The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But it already sees the scope for as many as four …

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• 18 August

  Singapore private home sales hit 8-month high

  Bloomberg Private home sales in Singapore jumped to highest in eight months as a broader economic slowdown spurred investors to park their money in a property market known as a safe haven. Developers in the city-state sold 1,178 apartments in July, an increase of 43% from the previous month, and the highest level since November. Purchases by foreigners more than …

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