November, 2018

• 14 November

  Flipkart CEO quits after misconduct probe

  

  Bloomberg The co-founder and chief executive officer of Indian e-commerce company Flipkart Group has resigned after an investigation into allegations of “serious personal misconduct,” owner Walmart said. Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. The US retail giant completed its $16 billion purchase of the Indian company in …

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• 14 November

  Flybe in takeover talks as oil price hits earnings

  

  Bloomberg Flybe Group Plc has begun takeover discussions with several parties as the rising cost of oil crimps earnings at Britain’s biggest provider of domestic flights and the company faces increasing financial stress. The Exeter, England-based carrier is in talks with “a number of strategic operators about a potential sale,” it said in a statement, without naming them. The stock …

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• 14 November

  Cathay tries to pacify angry hack victims with ‘exciting offers’

  

  Bloomberg Reeling from the world’s worst airline hack that exposed personal data of 9.4 million passengers, Cathay Pacific Airways Ltd. is seeking to regain customer trust with “exciting offers” including better in-flight dining and entertainment. The marquee carrier is attempting to soothe angry customers by promising better services on board after coming under fire for the seven-month delay in disclosing …

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• 13 November

  Amazon set to invest $5bn in two HQ2 cities

  Bloomberg Amazon announced it has selected New York City and Arlington, Virginia, as the locations for new headquarters, with hiring at both locations beginning in 2019. Amazon will invest $5 billion and create over 50,000 jobs across two new headquarters. It selected Nashville as new operations center of excellence with over 5,000 jobs. The Washington DC metro headquarters in Arlington …

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• 13 November

  IEA: Electrifying world no panacea for pollution

  Bloomberg Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset by the increased use of power plants to charge them, according to …

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• 13 November

  Chevron, Exxon mull bids for Endeavor Energy

  

  Bloomberg Chevron Corp. and Exxon Mobil Corp. are among the companies considering first-round bids this month for closely held oil producer Endeavor Energy Resources LP, according to people with knowledge of the matter. The two oil majors may be joined by ConocoPhillips in competing for the business, which could be valued at about $15 billion including debt, said the people, …

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• 13 November

  Canada oil pain sparks call for production cut

  

  Bloomberg It may not just be OPEC that’s weighing whether to cut oil production. The pipeline bottlenecks that have strangled Canadian crude prices have at least one major energy producer calling for oil-rich Alberta to mandate output reductions. Oil-sands producer Cenovus Energy Inc. says the province already has legislation on the books that would allow it to require all drillers …

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• 13 November

  Noble Group caught out on LNG cargoes

  Bloomberg Embattled commodity trader Noble Group Ltd — which is pushing towards the final stages of a complex $3.5 billion debt-for-equity restructuring — reported another quarterly loss, with the result driven by costs from the revamp as well as getting caught out in the LNG market. The energy segment, which consists of liquefied natural gas, coal and oil liquids in …

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• 13 November

  Stocks rise on trade talk hopes; oil extends loss

  

  Bloomberg US equity futures and European stocks recouped some of the previous session’s losses on hopes for progress in the American-Chinese trade dispute, even as Asian shares dropped overall. Crude oil headed for the lowest close this year. Contracts on the Dow, Nasdaq and S&P 500 all traded higher and the Stoxx Europe 600 Index rose for the first time …

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• 13 November

  India Sensex gains on lower oil price; Reliance advances

  

  Bloomberg India stocks gained on investor optimism that the falling price of crude oil, the nation’s biggest import, will help companies maintain earnings growth by keeping inflation in check. The benchmark S&P BSE Sensex index climbed 1 percent to 35,144.49 in Mumbai, reversing a drop of as much as 0.4 percent. Reliance Industries Ltd., the country’s second largest company by …

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