November, 2018

• 6 November

  Goldman tracks ahead of $5bn growth goal

  

  Bloomberg Goldman Sachs Group Inc. has achieved half of its revenue-growth goal, but it isn’t stopping there. On his first day as chief financial officer, Stephen Scherr told investors the firm is ahead of schedule on its objective of $5 billion in new revenue by 2020. Goldman Sachs has already increased revenue firmwide by $2.5 billion through a series of …

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• 6 November

  BNP Paribas unit co-head steps down after slump

  Bloomberg The co-head of a key markets business at BNP Paribas is st-epping down after the French bank reported some of the worst fixed-income trading results for third quarter. Adrian Boehler, who was co-head of the foreign exchange, local markets and commodities unit, will seek “another career opportunity” within Paris-based BNP Paribas while his counterpart Francisco Oliveira will become sole …

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• 6 November

  Australia’s Macquarie lures prop traders in London

  

  Bloomberg Macquarie Group Ltd., the Australian investment bank, is building up a European front in a risky business where few rivals have been able to tread since the financial crisis. The bank has hired Massimiliano Pignatelli and Pablo de Mattos in London to make market bets with shareholders’ money, known as proprietary trading, according to people familiar with the matter. …

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• 6 November

  Icelandair to buy no-frills Wow, marrying ailing Atlantic rivals

  

  Bloomberg Icelandair Group Hf reached a surprise agreement to buy discount rival Wow Air, bringing together the island nation’s two financially embattled airlines. The carriers will continue to operate under separate brands while aiming to better compete on routes linking Europe with North America, they said. Shares of Icelandair surged on the deal, which will create a combined company with …

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• 6 November

  Hong Kong privacy watchdog probes Cathay data breach

  

  Bloomberg Hong Kong’s privacy watchdog is investigating Cathay Pacific Airways Ltd. after the carrier last month disclosed the world’s biggest airline data breach that exposed personal information of 9.4 million customers. The compliance probe will examine security measures taken by Cathay Pacific to safeguard its customers’ private data and the airline’s information retention policy and practice, the city’s Privacy Commissioner …

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• 6 November

  Lowe’s abandons smaller store format in retreat from Manhattan

  

  Bloomberg Lowe’s Cos. is leaving Manhattan. The home-improvement retailer announced the closing of 51 under-performing stores, including two New York locations that the company hailed just three years ago as way to win over city dwellers. The move is part of new Chief Executive Officer Marvin Ellison’s push to get rid of distractions and focus on improving its core business …

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• 6 November

  Lego wins intellectual property lawsuit against Lepin in China

  

  Bloomberg Lego A/S has won a new intellectual property lawsuit in China after a court agreed with the Danish toy manufacturer that local companies had copied its building blocks and miniature figures under the Lepin brand. The Guangzhou Yuexiu District Court ruled that the four defendants should immediately cease the production, sale and promotion of the toys and pay about …

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• 6 November

  Self-styled Airbus ‘Whisperjet’ is too loud for Zurich residents

  

  Bloomberg Swiss Air greeted the arrival of its latest plane with great fanfare, dubbing the Airbus SE A220 model the “Whisperjet” and promising neighbourhoods around Zurich Airport that it would be 50 percent quieter than older aircraft. But that tag has come back to haunt the Deutsche Lufthansa AG unit as the narrow-body’s twin engines emit what locals have described …

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• 5 November

  Strategy of Resolve initiatives aim to reinforce UAE-Saudi integration

  

  ABU DHABI / WAM The joint project working teams of the Saudi-Emirati Coordination Council held a seminar to implement the strategy of resolve initiatives, which was attended by Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future and Chairman of the Executive Committee, to begin the launch of joint strategic projects, achieve the aspirations of the leadership …

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• 5 November

  Hospitality sector to play key role in Emiratisation

  

  DUBAI / WAM As the UAE’s hospitality industry continues its rapid growth, it presents highly promising career opportunities for skilled professionals, especially Emirati youth. Hotels are increasingly looking out for local talent across operational and functional areas as part of their commitment to Emiratisation. At the Najah higher education fair in Abu Dhabi, Emirati job-seekers were seen showing a keen …

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