July, 2019

• 14 July

  Walmart e-comm unit seeks new exec while losses pile up

  

  Bloomberg Walmart Inc has a hole to fill at its online unit, and whoever assumes the role faces a big challenge ahead. The company is searching for a new chief revenue officer for its US e-commerce business, who would work under online leader Marc Lore to help map out its battle plan against Amazon.com Inc, Target Corp and other rivals. …

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• 13 July

  Oil caps weekly gain as storm buoys market

  

  Bloomberg Oil capped its best week since mid-June as Tropical Storm Barry gained strength, approaching refineries in Louisiana and leaving deserted offshore platforms on its path. Futures in New York gained 4.7 percent for the week after prices held above $60 a barrel for a third day. Forecast to make landfall as a hurricane early Saturday, Barry has already curbed …

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• 13 July

  Japan, South Korea spar over trade talks as US stays away

  

  Bloomberg Japan and South Korea bickered over the details of rival briefings about export-control talks on Saturday as the US backed away from a potential role as a mediator in a fight over history and trade between its two Asian allies. Officials at Japan’s Ministry of Economy, Trade and Industry held a press conference at which they denied an assertion …

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• 13 July

  DLD, Al Tamimi launch new real estate initiative

  

  DUBAI / Emirates Business Dubai Land Department (DLD) announced the launch of a new real estate initiative known as ‘Real Estate Lawyer’ in partnership with Al Tamimi & Company. The agreement outlining the details of the initiative was drafted to facilitate growth in the real estate market by providing greater support for real estate investors and encouraging further foreign investor …

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• 13 July

  Volkswagen, Ford team up on electric, self-driving cars

  

  Bloomberg Volkswagen AG and Ford Motor Co will cooperate on electric and self-driving car technology, sharing costs on a global scale to take a major step forward in the industry’s disruptive transformation. VW will invest $2.6 billion in Ford’s autonomous-car partner Argo AI in a deal that values the operation at more than $7 billion, the two manufacturers said in …

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• 13 July

  Spotify unveils new app for ‘slow handsets’ in emerging markets

  

  Bloomberg Spotify Technology SA released a new version of its music streaming app for customers in emerging markets, an effort to grow outside of its strongholds in the US and Europe. The Spotify Lite app, which runs on Android phones, will appeal to users who are limited by data plans and slower networks, the company said in a statement. The …

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• 13 July

  Two UK utilities pledge to adopt all-electric fleets

  Bloomberg Two of Britain’s six biggest utilities pledged to switch their entire vehicle fleet to run on electricity by 2030, adding momentum to the shift away from traditional engine technology. Centrica Plc operates the third-biggest company owned fleet in the UK, with 12,500 cars and vans. SSE Plc has 3,500 vehicles and also said it will install charging points for …

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• 13 July

  New, more agile robots speed takeover of ‘human jobs’

  

  Bloomberg At a vast greenhouse in the central Danish city of Odense, a squad of robots move thin plastic pots of herbs for shipping without even putting a dent in them. For moviegoers used to seeing humanoid machines in action, that might not seem special — but in truth, it’s a remarkable feat. Robots until recently have been limited to …

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• 13 July

  Wells Fargo in talks with BofA exec for CEO job

  

  Bloomberg More than 100 days into Wells Fargo & Co’s hunt for a chief executive officer, the field of potential candidates has winnowed  — but there’s little sign that an appointment is imminent. After twists and turns in the search, Bank of America Corp’s Cathy Bessant is among executives who remain in talks with Wells Fargo, while JPMorgan Chase & …

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• 13 July

  Citigroup expenses to be in focus as bank’s earnings season starts

  

  Bloomberg Citigroup Inc is the first big US bank to report second-quarter earnings when its latest results come out. Investors will be keeping a close eye on how tightly the bank reined in expenses, and how its international businesses fared, as weak trading revenues are already anticipated. Citigroup CFO Mark Mason said second-quarter fixed-income and equities trading revenue would likely …

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