October, 2018

• 27 October

  No-deal Brexit will unleash chaos: IATA

  

  Bloomberg The airline industry should prepare for chaos if no trade agreement is signed in the coming weeks for the UK’s planned split from the European Union, the head of the sector’s trade body has warned. The International Air Transport Association detailed its concerns in a report on Brexit. These include airline landing rights in the UK, pilot licenses and …

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• 27 October

  Boeing’s cash surge creates rare bright spot amid industrial woe

  

  Bloomberg Boeing Co. revved up cash flow and raised its profit forecast, soothing shareholder concerns over an operating loss in its defense business and production stumbles with the company’s best-selling 737 jets. Free cash flow jumped 37 percent to $4.1 billion in the third quarter, more than double analysts’ estimates. The planemaker also reported higher-than-expected earnings, raised its annual profit …

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• 27 October

  Sears’s losses could become most valuable assets

  

  Bloomberg The losses that drove Sears Holdings Corp. into bankruptcy could end up being a valuable multi-billion dollar asset because of tax breaks — especially for its most notable creditor and Chairman, Eddie Lampert. As of the retailer’s bankruptcy on October 15, Sears estimated it had net operating losses it could use to offset $5 billion of future taxable income, …

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• 27 October

  Southwest Air plunges most in two years

  Bloomberg Southwest Airlines Co. tumbled the most in two years as Wall Street worried that expenses are getting out of hand. Investments in new technology and airport facilities haven’t paid off as much as expected, said Chief Executive Officer Gary Kelly. Costs for each seat flown a mile, a key measure of efficiency, will climb at least 3 percent in …

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• 24 October

  WHO lauds Sheikh Mohamed for efforts to achieve polio-free world

  

  ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a …

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• 24 October

  Construction on Abu Dhabi hyperloop to begin in 2019

  

  Emirates Business Hyperloop Transportation Technologies announced appointment of leading design and engineering firm, Dar Al-Handasah (founding member of the Dar Group), to assist in bringing the Abu Dhabi commercial system to reality. Dar Al-Handasah joins the project as design lead and as the latest investor in HyperloopTT. Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation …

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• 24 October

  Al Maktoum jet fuel pipeline 20% complete, says Enoc

  DUBAI / WAM Enoc Group announced that construction of its 16.2km jet fuel pipeline linking its storage terminals in Jebel Ali to Al Maktoum International Airport in Dubai South has exceeded 20 percent. The announcement was made during 20th Water, Energy, Tech- nology and Environment Exhibition (WETEX 2018). The pipeline is scheduled to be operational in 2020 Q1, in time …

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• 24 October

  Aramco has petchem ambitions beyond $70bn Sabic deal: CEO

  

  Bloomberg Saudi Aramco’s chief executive officer said he has bigger ambitions in petrochemicals beyond the planned $70 billion acquisition of a strategic stake in local company Sabic, touting plastics as a key hedge against an electric-car driven slowdown in global oil demand growth. “We still have to do more,” Amin Nasser, chief executive officer of state-owned Aramco, said in an …

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• 24 October

  Linde, Praxair win US antitrust approval to create gas giant

  

  Bloomberg Linde AG and Praxair Inc. won approval from the US antitrust enforcers for their $46 billion merger, paving the way for the companies’ two-year bid to create the world’s largest supplier of industrial gases. The Federal Trade Commission (FTC) said it approved the deal on the condition that Linde and Praxair sell assets to resolve concerns that the combination …

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• 24 October

  Former coal plant to become $4.6 billion oasis on Lake Ontario

  

  Bloomberg Move over Google. There’s a new urban oasis coming to the shores of Lake Ontario. A former 177-acre (72-hectare) coal power plant site will be transformed into a mixed-use community in Mississauga, a city west of Toronto that could be worth as much as C$6 billion ($4.6 billion) once complete, according to Fabio Mazzocco, president of Lakeview Community Partners …

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