May, 2019

• 8 May

  JPMorgan, Citi face fines over currency collusion

  Bloomberg Banks including JPMorgan Chase & Co. and Citigroup Inc. are set to be fined imminently by the European Union over collusion on foreign-exchange trading, according to two people with knowledge of the probe. The European Commission may announce fines as soon as this week as part of a settlement that sees the lenders get reduced penalties for agreeing not …

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• 8 May

  SocGen trading slump endures as CEO assures on capital level

  

  Bloomberg Societe Generale SA failed to halt the slide in its investment bank in a quarter where the key equities business and stronger capital levels were bright spots for Chief Executive Officer Frederic Oudea. Profit at the unit that houses the trading operations declined 16 percent in what’s usually its strongest period. While earnings were dragged down by fixed-income trading, …

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• 8 May

  Boeing vows ‘transparency’ to 737 Max buyers in new move

  

  Bloomberg Boeing Co met with 737 Max operators and lessors in Amsterdam, the first of about six sessions planned around the world as the planemaker lays the groundwork for resuming commercial flights of the aircraft following two deadly crashes. Executives are using the sessions to discuss how to maintain the jetliners, which were grounded days after a March 10 disaster, …

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• 8 May

  Brazil’s bill may deter low-cost carriers, says its aviation regulator

  

  Bloomberg Changes to a bill that opens up Brazil’s airline industry to foreign investment may scare off low-cost carriers, the head of the country’s aviation regulator said in an interview. The regulatory agency, known as Anac, is concerned that lawmaker-backed changes mandating airlines to fly to smaller airports and also forbidding them from charging for baggage could make Brazil unattractive …

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• 8 May

  JAL’s self check-in disruption results in flight delays

  Bloomberg Japan Airlines Co (JAL)’s domestic flights are being disrupted due to problems at its self check-in kiosks across the country, the company said. Passengers are checking in at staffed counters, which is taking time and causing boarding delays, the airline said in an emailed statement. The carrier had cancelled 18 flights as of 9 am local time, affecting about …

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• 8 May

  Nestle’s US unit to slice 4,000 jobs in latest delivery change

  

  Bloomberg Nestle SA’s US unit will dismiss about 4,000 workers as it stops delivering frozen pizza and ice cream directly to stores and transitions to a warehouse model that’s becoming an industry standard for Big Food companies looking to trim costs. The company said that it’s shutting down its direct-to-store delivery network for products like DiGiorno and Skinny Cow beginning …

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• 8 May

  Walmart’s new workplace has gold stars, ‘attitude cards’

  

  Bloomberg Walmart Inc wants to change how its work gets done. US’s biggest private employer is testing out a comprehensive new framework for how its stores operate, including changing some roles and responsibilities and emphasizing teamwork, accountability and skill improvement. The new model, dubbed “Great Workplace,” is already in place in about 75 locations, primarily its smaller Neighborhood Market grocery …

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• 7 May

  Investment banks TNI, Arqaam weigh merger

  

  Bloomberg Dubai-based Arqaam Capital Ltd. and Abu Dhabi’s The National Investor are weighing a possible merger, according to people with knowledge of the matter. The investment banks are in talks about a combination that would create an entity with an equity value of about $250 million, according to one of the people, who asked not to be identified because the …

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• 7 May

  Saudi Aramco to supply extra crude to hungry Asian buyers

  

  Bloomberg Saudi Arabia is set to supply more crude to oil-starved Asian refiners, and extract a heavy price for it. State-run producer Saudi Aramco will sell additional cargoes to customers in the world’s biggest oil-consuming region for June loading, according to people with knowledge of the matter. The shipments will be on top of those scheduled under long-term crude contracts, …

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• 7 May

  Equinor profit rises as oil, gas output tops prediction

  

  Bloomberg Norway’s Equinor ASA beat profit and cash-flow estimates after pumping more oil and gas than predicted. First-quarter results at the state-controlled producer cap a mixed series of earnings for the major oil companies as the industry turns a page on the 2014-2017 downturn. Supermajors BP Plc and Royal Dutch Shell Plc met or exceeded estimates thanks to trading gains …

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