December, 2018

• 31 December

  Gasoline prices in South Africa’s Gauteng set to fall

  Bloomberg The price of gasoline in South Africa’s economic hub of Gauteng will fall to the lowest since March in January 2019. A liter of 95-octane gasoline will decrease 1.23 rand to 14.01 rand ($0.97) in Gauteng, which includes Johannesburg and the capital, Pretoria, the Central Energy Fund said in an emailed statement. Diesel will decline 1.53 rand a liter …

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• 31 December

  Exxon Mobil heads for worst annual performance since 1981

  

  Bloomberg Things haven’t been this bad for the world’s biggest oil stock since Ronald Reagan became president. But brace yourself, 2019 may not be much better. Exxon Mobil Corp, down 22 percent for the year 2018, is headed for worst annual performance since 1981, when US was in recession and a 20-year crude glut was just beginning. The decline comes …

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• 31 December

  US stocks pare December slide; dollar edges lower

  

  Bloomberg US stocks rose, paring a December slump that is among the worst in history, after President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. Treasuries slipped and oil erased gains. The S&P 500 trimmed its monthly loss to 9 percent, the steepest of the record bull market, as Trump said in a tweet that negotiations …

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• 31 December

  Yen, strongest major currency of 2018

  

  Bloomberg The yen is set to end the year as the biggest winner against the dollar among major currencies as investors sought out safety amid 2018’s uncertainties. The haven asset outperformed as the pound and euro faced headwinds from Brexit and Italy’s budget crisis, while the US-China trade war and plunging oil prices pressured commodity-related peers such as the Canadian …

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• 31 December

  Emirates hints peak period after New Year 

  

  DUBAI / Emirates Business Travel to and from Dubai is expected to reach another peak towards the end of this week, as Emirates anticipates yet another busy period of outbound travel after New Year’s celebrations and inbound travel for the Dubai Shopping Festival. More than 180,000 travellers will be making their way to Emirates’ dedicated Terminal 3 facilities from January …

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• 31 December

  Nestle plans vegan push with a meat-free burger

  

  Bloomberg Hold the ground chuck: Nestle SA sees the future in a meat-free burger made from soy and wheat protein. Soon you may be able to wash it down with purple walnut milk or a spirulina latte. The Swiss company is gearing up for its biggest push yet into the booming vegan market: the Incredible Burger, to be introduced under …

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• 31 December

  Dick’s Sporting Goods ends US Olympics sponsorship

  

  Bloomberg Dick’s Sporting Goods is choosing to end its partnership with the United States Olympic Committee when their contract expires this month, a decision that comes as Team USA continues to deal with fallout from the a scandal surrounding former gymnastics doctor Larry Nassar. The company cited “a new investment focus” in a statement and didn’t mention Nassar. The decision …

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• 31 December

  Low coffee bean prices to drive grower cutbacks

  

  Bloomberg It’s been a big year for the companies that sell coffee, but not so much for the growers that supply them. That could start to change in 2019. Historically low prices for coffee beans in 2018 will likely reduce the incentive for farmers to expand supplies, said Rodrigo Costa, the US-based coffee director for Brazilian trading company Comexim. That …

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• 31 December

  Canada Goose climbs after store opens in Beijing

  Bloomberg Canada Goose Holdings Inc rose 6 percent in early trading before US markets opened after the company opened its flagship store in Beijing over the weekend. The store had been delayed since December 15 amid escalating tensions between Canada and China following the arrest of Huawei Technologies Co.’s chief financial officer in Vancouver. The luxury jacket maker is expanding …

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• 31 December

  Home price gains in 20 American cities slow

  

  Bloomberg Home prices in 20 US cities slowed in October for a seventh consecutive month, extending the longest streak since 2014, a sign of waning demand amid higher mortgage rates and elevated property values. The 20-city index of property values increased 5 percent from a year earlier, after rising 5.2 percent in the prior month, S&P CoreLogic Case-Shiller data showed. …

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