January, 2019

• 26 January

  Haagen-Dazs, Tropicana want their packaging back now

  

  Bloomberg In the environmentalist mantra “reduce, reuse, recycle,” almost all of the attention has been paid to recycling. Now some of the world’s biggest consumer brands are trying to shift the focus to the second R, with a programme that provides products in reusable containers that can be returned for a refund. The durable packaging programme, called “Loop” — a …

  Read More »
• 23 January

  EU warns tariffs on $23b in US goods if Trump taxes cars

  

  Bloomberg The European Union is prepared to hit 20 billion euros ($22.7 billion) of US goods with tariffs should President Donald Trump follow through on a threat to impose duties on EU cars and auto parts, said a senior trade official for the bloc. The assertion by Jean-Luc Demarty, director general for trade in the European Commission, the EU’s executive …

  Read More »
• 23 January

  DP World buys additional stake in Australian unit

  

  DUBAI / WAM DP World on Wednesday announced that it has acquired an additional stake in DP World Australia (DPWA) from Gateway Infrastructure Investments and other financial investors, valuing DP World Australia at an enterprise val-ue of approximately AU$1.4 billion ($997 million). The acquisition is subject to regulatory approval and is expected to close in Q1 2019. Following the closure …

  Read More »
• 23 January

  Alwaleed’s firm supports merger of Uber, Careem

  Bloomberg Kingdom Holding Co, one of Careem Networks FZ’s biggest backers, supports a potential merger between the Middle East ride-hailing firm and Uber Technologies Inc, according to the head of Prince Alwaleed Bin Talal’s investment firm. “We don’t interfere nor are we party to the discussions, and if it ever happens I think we are supportive of it yes,” Chief …

  Read More »
• 23 January

  China resists US-EU talks on global digital trade pact

  

  Bloomberg China risks being locked out of talks to establish new global rules to govern the $25 trillion e-commerce marketplace as the US and other nations resist an effort by Beijing to curb the plan’s ambition, according to people familiar with the talks. Negotiations, which are set to be launched on Friday on the sidelines of the World Economic Forum’s …

  Read More »
• 23 January

  Damac plans to invest $1.3bn in London market

  Bloomberg Dubai’s Damac Properties PJSC plans to take advantage of the weak pound to invest as much as 1 billion pounds ($1.3 billion) in London’s real estate market. Chairman Hussain Sajwani said the Dubai-based property developer is looking at deals with values from 500 million pounds to 1 billion pounds in central London. Even if the UK left the European …

  Read More »
• 23 January

  New York’s plan to kill coal lifts power prices

  

  Bloomberg New York’s plan to put the state’s last coal-fired power plants out of business hasn’t even been approved yet and electricity is already trading like they’re shut. The price of power in 2021 in New York City and other regions surged more than 30 percent beginning in May. The only major difference between then and now: a pending state …

  Read More »
• 23 January

  US stocks surge on earnings surprises; dollar rally stalls

  

  Bloomberg US equities advanced alongside stocks in Europe as traders weighed the latest corporate earnings and moves to end the American government shutdown against lingering doubts over trade. The dollar’s six-day rally stalled and Treasury yields rose. The S&P 500, Dow Jones and Nasdaq indexes all opened higher after IBM topped profit estimates and Procter & Gamble increase the upper …

  Read More »
• 23 January

  Nasdaq, Citi invest in blockchain firm

  

  Bloomberg Nasdaq Inc and Citigroup Inc are among firms that are investing $20 million in Symbiont.io Inc, a New York-based company that’s applying blockchain technology to capital markets. Their support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin hasn’t completely cooled with the collapse in cryptocurrencies. And it comes despite a growing pragmatism about the technology’s limitations …

  Read More »
• 23 January

  Fed probes Deutsche Bank over suspicious Danske cash

  

  Bloomberg The Federal Reserve is examining how Deutsche Bank AG handled billions of dollars in suspicious transactions from Denmark’s leading lender, according to people familiar with the matter, further intensifying what could be one of the biggest money-laundering scandals ever. The Fed’s probe is in an early stage as it scrutinises whether Deutsche Bank’s US operations adequately monitored funds from …

  Read More »