May, 2019

• 15 May

  UOB aims 50% revenue rise from outside Singapore

  

  Bloomberg United Overseas Bank (UOB) plans to increase portion of revenue it gets from outside its ho-me market of Singapore to about 50% by 2021, despite forecasting a challenging year ahead. “For 2019, market volatility is expected to remain,” Chief Executive Officer Wee Ee Cheong told analysts and investors in Singapore on Wednesday. “Geopolitics, rising global trade tensions and concern …

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• 15 May

  Walmart takes on Amazon with one-day shipping plan

  

  Bloomberg Walmart Inc wants to one-up Amazon.com Inc in the fight for online shoppers. The world’s largest retailer is rolling out a next-day delivery service to counter Amazon’s recent move to speed shipment times for top customers to just one day from two. Walmart customers in Phoenix and Las Vegas who buy at least $35 worth of goods was expected …

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• 15 May

  Jet Airways’ top executives resign, revival hopes fade

  

  Bloomberg Two top executives of Jet Airways India Ltd resigned this week, further diminishing prospects for the grounded carrier that is desperately seeking $1.2 billion to fly again. Chief Executive Officer Vinay Dube and Chief Financial Officer Amit Agarwal quit the company citing personal reasons, Jet Airways said in two separate stock exchange filings. While both resignations were effective immediately, …

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• 15 May

  TUI warns of Spain glut as Boeing Max deadline looms

  Bloomberg Tour operator TUI AG held to its forecast while warning that it’s battling overcapacity this summer in the Spanish vacation market, as a deadline looms for its grounded fleet of Boeing Co 737 Max jets. The Hanover, Germany-based company reiterated its expectation for a 2019 drop of 17 percent in underlying earnings before interest and taxes. But expenses related …

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• 15 May

  Boeing turns to Texas base to store its 737 Max planes

  

  Bloomberg Boeing Co has started storing 737 Max jets at a vast Texas maintenance base as the planemaker continues to churn out the single-aisle aircraft while waiting for regulators to lift a global grounding. Planespotter Chris Edwards picked up the radar track of the first factory-fresh Max to be parked outside the Seattle area as it headed to San Antonio …

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• 15 May

  Biggest chocolate market gets taste of ruby with US launch

  

  Bloomberg The world’s largest chocolate market is finally getting a taste of the ruby range, the first new type in more than 80 years. Switzerland’s Barry Callebaut AG, the top maker of bulk chocolates, is rolling out its ruby breakthrough in the US almost two years after announcing the discovery. The new type of chocolate, with its pinkish hue, expanded …

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• 14 May

  Oil rises over drone attacks on Saudi pumping stations

  

  Bloomberg Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend. Futures rose 1.2% in New York, reversing the previous day’s drop. Unidentified dro-nes attacked two pumping st-ations belonging to Saudi Ara- mco, forcing the state oil company to suspend operations in the …

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• 14 May

  US readies new tariffs as Trump likely to meet Xi at G-20 summit

  

  Bloomberg The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The US Trade Representative’s office released a list of about $300 billion worth of Chinese goods including children’s clothing, toys, …

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• 14 May

  Bitcoin tops $8,000 for first time in 10 months

  

  Bloomberg Bitcoin strengthened past $8,000 for the first time in about 10 months on Tuesday, crossing another milestone as cryptocurrencies continued their scorching rally. The largest digital token climbed as much as 3.8% before trading at $8,096 in London, according to Bloomberg composite pricing. Tuesday’s advance follows a 25% surge a day earlier — the biggest one-day increase for Bitcoin …

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• 14 May

  S&P 500 futures and Europe stocks jump; havens dip

  

  Bloomberg US equity futures rose alongside European stocks on Tuesday, shrugging off losses in Asia as investors assessed the prospects for global trade in the wake of a brutal start to the week for markets. Haven assets including Treasuries, gold and the yen slipped. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 indexes all rallied after …

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