April, 2019

• 21 April

  Canadian retail sales bounce back after slump

  Bloomberg Canadian retailers emerged from months of slumping sales with a sharp rebound in February that may ease some worries about consumer weakness. Retailers posted a 0.8 percent gain in sales on the month, Statistics Canada said from Ottawa, versus economist expectations for a 0.4 percent gain. February’s increase was the strongest since May 2018, and follows six straight months …

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• 20 April

  Ras Al Khaimah, Eni ink exploration deal

  Bloomberg Eni SpA signed an exploration and production agreement wi-th emirate of Ras Al Khaimah, a further push by the Italian company into the Middle East. The deal between the Rome-based hydrocarbons producer and RAK Petroleum Authority will cover Block A, which includes an area of 2,412 sq kms off the coast, according to a statement from Eni. Eni will …

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• 20 April

  Global tensions to fuel oil rally, say hedge funds

  

  Bloomberg Hedge funds are betting rising tensions around the globe will keep fueling oil’s rebound this year. Money managers boosted optimistic wagers on West Texas Intermediate crude to the highest since October in the week ended April 16, according to government data released. Total long and short positions swelled to the most in six months, a sign the rally is …

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• 20 April

  UAE, Pfizer to establish national research lab

  DUBAI / WAM Abdul Rahman bin Mohammed Al Owais, Minister of Health and Prevention (MoHAP) met with Dr Amrit Ray, Global President, R&D and Medical, Pfizer EMB, to discuss the possibility of establishing a scientific research and excellence hub in the UAE. Al Owais and Dr Ray also discussed mutual efforts to fight chronic diseases and develop innovative and integrated …

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• 20 April

  Samsung’s foldable screens fail in some early review models

  

  Bloomberg Some test models of Samsung Electronics Co’s new foldable phone suffered defects after only days of use, casting a shadow over next week’s introduction of a $1,980 device meant to rejuvenate a flagging market and showcase the Asian company’s technology expertise. Several publications, including Bloomberg News, outlined a bevy of problems with test versions of the device, which folds …

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• 20 April

  Toyota rejects electric cars as Volkswagen vows an embrace

  

  Bloomberg A $255 billion debate is raging among the world’s biggest automakers. Some think electric cars made by companies besides Tesla Inc stand the chance to be hits, while others think they’ll fail to really sell. Toyota Motor Corp may have kicked off the green-car movement with its Prius hybrid more than 20 years ago, but the company is not …

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• 20 April

  With driverless cars late, Phantom tries remote-control trucks

  

  Bloomberg For four days in February, Ben Shukman showed up to his office at Phantom Auto in Mountain View, California, sat down in front of a bank of computer screens with a steering wheel in a darkened room, and began driving. As the 25-year-old turned the wheel in Silicon Valley, an empty truck 2,500 miles away in Atlanta picked up …

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• 20 April

  Deutsche Bank preparing ‘Plan B’ if takeover talks fail

  

  Bloomberg Deutsche Bank AG is working on an alternative strategy to present to investors should takeover talks with rival Commerzbank AG collapse, according to people familiar with the matter. Some top shareholders want the bank to prepare options as obstacles to a combination pile up, according to people familiar with the matter. Chief Executive Officer Christian Sewing is considering two …

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• 20 April

  Barclays, Red Kite settle $850 million market abuse case

  

  Bloomberg Red Kite, the world’s best-known metals hedge fund, reached a settlement with Barclays Plc over claims traders at the bank engaged in abusive trading and manipulated copper prices on the London Metal Exchange. The financial terms of the agreement will not be publicly disclosed, according to a statement. Red Kite had previously said actions by Barclays traders cost it …

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• 20 April

  US banks offer hope for trading gains after 6-month slump

  

  Bloomberg US banks think a Wall Street revival is coming. Executives cited a good start to April and the expectation of several large initial public offerings in coming months to offer hope after a rough start to 2019 for their capital-markets businesses. The five largest Wall Street firms’ trading and investment banking revenue both fell in back-to-back quarters, the first …

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