December, 2018

• 3 December

  British Airways faces pay-hike campaign from three unions

  

  Bloomberg British Airways (BA) faces a coordinated campaign for bigger salary increases from pilots, cabin crew and ground staff in a challenge to its efforts to beat down costs. The British Airline Pilots Association, Unite and GMB unions are seeking BA’s first-ever joint pay deal, they said in a statement. The three-year plan would feature settlements above inflation, bonuses that …

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• 3 December

  US discount-airline mogul steps in to rescue Wow Air

  

  Bloomberg US private-equity firm Indigo Partners agreed to invest an undisclosed sum in Iceland’s Wow Air Hf, breathing new life into the discount carrier just hours after another suitor walked away. Indigo is led by William Franke, who has founded or invested in low-fare carriers around the globe. Terms of the preliminary agreement weren’t disclosed in a statement from the …

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• 3 December

  Sears employees ask for security

  

  Bloomberg Employees of Sears Holdings, inspired by the hardship fund for workers affected by the collapse of Toys ‘R’ Us Inc., are asking Chairman Eddie Lampert and the firms involved in the chain’s bankruptcy to preserve jobs and stores as well as guarantee severance pay and pensions. “While we understand that Sears and Kmart must make changes to survive, we …

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• 3 December

  Wayfair’s quarterly sales show ‘considerable’ upside

  

  Bloomberg Wayfair Inc.’s strong Cyber Five year-over-year sales gain suggests “considerable upside potential for this quarter,” according to Baird Equity Research, who cites comparable period results over the past two years. The Boston-based online home-goods retailer reported a 58 percent increase in direct retail sales for the shopping period of Thanksgiving Day through Cyber Monday. This compares to 2017 and …

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November, 2018

• 28 November

  Non-oil sector driving UAE growth

  

  Emirates Business The economic outlook for UAE is set to accelerate to 2 percent this year, up from the eight-year low of 0.8 percent in 2017, supported by rising oil prices, regional economic recovery, higher public spending and investment and a build-up in business momentum, according to ICAEW’s latest Economic Insight report. The accountancy and finance body says the non-oil …

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• 28 November

  Stocks rally, dollar falls on dovish Powell signal

  

  Bloomberg US stocks rallied, Treasuries turned higher and the dollar fell after a dovish tone from the Federal Reserve chairman fueled speculation the central bank is closer than thought to pausing on rate hikes. The S&P 500 surged to a session high and the Dow Jones Industrial Average jumped more than 400 points after Jerome Powell said rates are “just …

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• 28 November

  Pound may surge if Brexit hurdles passed

  

  Bloomberg The pound could revisit this year’s high above $1.43 if Brexit uncertainty is removed, as long-term foreign investors are waiting in the wings to scoop up UK assets for their attractive valuation, according to NatWest Markets. Sterling is undervalued against most Group-of-10 currencies in terms of OECD purchasing power parity. It has fallen 14 percent against the dollar, 13 …

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• 28 November

  Bitcoin hits 4-month high

  Bloomberg Bitcoin’s biggest gain since July is providing some relief to battered cryptocurrency investors, but it may be too soon to call a bottom. That’s the assessment of Kenetic Capital’s Jehan Chu after Bitcoin rallied, climbing 5.6 percent to $3,980 in Hong Kong. The virtual currency is on course for its largest advance since July 24, according to Bloomberg composite …

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• 28 November

  Canada oil output up despite pipeline woes

  

  Bloomberg Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian crude prices to record …

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• 28 November

  Solar panel makers rise as demand in China rebounds

  Bloomberg Solar companies gained after the world’s largest panel manufacturer said demand in China was rebounding. JinkoSolar Holding Co Chief Executive Officer Kangping Chen said in a statement that Beijing’s solar cutback has not slowed sales as much as expected and that a global supply glut is easing. “We are confident that Chinese demand will return next year,” Chen said. …

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