September, 2019

• 14 September

  Forever 21 plans to shutter 100 stores

  

  Bloomberg Forever 21 Inc is preparing to close at least 100 stores as part of a restructuring that calls for the trendy retailer to file for bankruptcy as early as this month, according to people with knowledge of the preparations. The apparel merchant is working on obtaining a financial package that would provide about $75 million for its restructuring in …

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• 14 September

  J Crew planning public offering of Madewell denim brand

  

  Bloomberg J Crew Group Inc plans to spin off its Madewell denim chain in a public offering, the company announced in a filing, five months after announcing it was considering such a move. The number of shares to be offered and the price range for the proposed offering haven’t yet been determined, according to the filing. The amount of the …

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• 11 September

  UAE condemns Netanyahu’s plan to annex Jordan Valley

  

  Abu Dhabi / WAM The United Arab Emirates has expressed its strong condemnation and categorical rejection of an announcement by Israeli Prime Minister Benjamin Netanyahu on the planned annexation of land from the occupied West Bank to Israel in the event of an election win. HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stated …

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• 11 September

  Opec, allies meet in Abu Dhabi with deeper cuts off agenda

  

  Bloomberg Ministers from Opec+ are gathering in Abu Dhabi with deeper production cuts off the agenda for now, but with a backdrop of growing concern about strength of oil demand as the global economy slows. Crude lurked in the low $60s for most of the summer as escalating tensions between the US and China and increasing fears of a looming …

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• 11 September

  Deals worth $26 billion signed at fourth China-Arab states expo

  

  BEIJING / WAM A total of 362 deals worth valued at $26 billion have been signed at the fourth China-Arab States Expo, reported the People’s Daily. The expos was held in northwest China’s Ningxia Hui Autonomous Region, with Chinese President Xi Jinping relaying a congratulatory message during the opening ceremony of the event. According to People’s Daily, “Over 2,900 regional …

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• 11 September

  Aramco picks top banks for mega IPO

  Bloomberg Saudi Aramco has picked a slew of banks to work on its planned initial public offering following intense lobbying by some of the world’s top dealmakers, people with knowledge of matter said. Aramco selected firms including Bank of America Corp., Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley for top …

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• 11 September

  Norway confident gas supplies to keep flowing in event of hard Brexit

  

  Bloomberg The man in charge of Norway’s trade policies is sanguine about the prospects of the country’s largest export destination potentially leaving the European Union without a deal. Torbjorn Roe Isaksen, Norway’s Trade and Industry Minister, is this week meeting with colleagues in London to discuss trade in the run-up to Brexit and sketch the framework for a permanent agreement …

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• 11 September

  World in need for more power from natural gas

  

  Bloomberg The world will probably need more power from natural gas in the coming decades than previously thought because low electricity prices during the day could limit the rise in solar plants. The cleanest fossil fuel’s share of the primary energy mix in 2050 will be as much as 29%, according to a report by energy and maritime risk services …

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• 11 September

  US futures drift as stocks in Europe, Asia advance

  

  Bloomberg US stock-index futures drifted, failing to pick up momentum from a broad advance in equities in Europe and Asia after more signs emerged that China will move to lessen the trade war’s repercussions. Oil futures rose with the dollar. Gains in the Stoxx Europe 600 Index came in part from the strong rotation into cyclical sectors that had lagged …

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• 11 September

  India stocks climb on stimulus plan

  

  Bloomberg Indian stocks rose as investors anticipated more government steps to revive consumer sentiment ahead of the festival season that accounts for a bulk of the nation’s sales. The S&P BSE Sensex gained 0.3 percent to 37,270.82 at the close in Mumbai, advancing for a third consecutive session. The NSE Nifty 50 Index also climbed 0.3 percent. The nation’s financial …

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