November, 2018

• 13 November

  US pilots: Boeing didn’t warn of 737 feature tied to crash

  

  Bloomberg Two US pilots’ unions say the potential risks of a safety feature on Boeing Co.’s 737 Max aircraft that has been linked to a deadly crash in Indonesia weren’t sufficiently spelled out in their manuals or training. Boeing and the Federal Aviation Administration issued directives telling flight crews about the system, which is designed to provide extra protection against …

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• 13 November

  India’s Tata vets Jet Airways books for potential purchase

  

  Bloomberg Tata Group is conducting due diligence on Jet Airways India Ltd., as the conglomerate looks to expand its footprint in the country’s growing air travel sector by potentially buying a stake in the cash-strapped carrier, according to people familiar with the matter. The talks are still in their early stages and there’s no certainty they would result in a …

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• 13 November

  Cathay says sophisticated data hack lasted months

  

  Bloomberg Cathay Pacific Airways Ltd., which is under fire for the world’s biggest airline data breach, said the sophisticated attacks lasted months as it took steps to shield its exposed computer network. The attacks were most intense March through May and continued, Asia’s biggest airline said in a written submission to Hong Kong’s legislature before a panel hearing this week. …

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• 13 November

  Singapore Airlines’ Q2 profit tumbles 81% as fuel costs sting

  

  Bloomberg Singapore Airlines Ltd. reported an 81 percent plunge in second-quarter profit as higher fuel costs weighed on earnings. Net income for the three months through September fell to S$56.4 million ($41 million) from S$293.3 million a year earlier. Sales rose 5.6 percent to S$4.06 billion. The premium Asian carrier joins others such as Deutsche Lufthansa AG and Air China …

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• 13 November

  ‘Traders’ gain as Zurich airport stock drops

  Bloomberg Options traders who bet against Zurich airport have booked a 10,000 percent windfall as proposed modifications to aviation charges send shares of the hub tumbling. Flughafen Zurich AG, as the airport company is known, dropped the most since 2003 after saying measures unveiled by the national regulator would reduce its aviation revenue by $148 million or 25 percent. The …

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• 13 November

  Premier Foods CEO to step down after battle with activists

  

  Bloomberg Premier Foods Plc’s chief executive officer will step down as the maker of Bisto gravy and Mr. Kipling snacks weighs asset sales following pressure from activist hedge fund Oasis Management Co. CEO Gavin Darby will leave on January 31, the company said on Tuesday in a statement. Premier Foods also said it is in discussions with potential buyers of …

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• 12 November

  Aldar awards $91mn contract for Alghadeer

  

  ABU DHABI / WAM Aldar Properties on Monday announced appointment of Al Rakha Contracting and General Transport LLC as the main contractor for infrastructure buildings and early works package for the first neighbourhood in the second phase of Alghadeer — an AED10 billion mega development, situated close to the border of Abu Dhabi and Dubai. The AED335 million ($91.2 million) …

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• 12 November

  Saudi sees need for major oil supply cut as fears of glut grow

  

  Bloomberg Saudi Arabia said OPEC and its allies should reverse about half the increase in oil output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices. Producers need to cut about 1 million barrels a day from October production levels, Saudi Arabia’s Energy Minister Khalid Al-Falih said in Abu Dhabi on …

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• 12 November

  South Africa defends use of coal as it seeks progress on climate

  

  Bloomberg South Africa’s deputy energy minister expects the latest round of climate talks will make global markets cleaner starting next year and defended her nation’s coal use as a way to reduce poverty. “With the Germans, they can say ‘We’re moving from driving a Corolla to a BMW,’ while we are still trying to get the bicycle,” said Thembisile Majola, …

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• 12 November

  $8bn Keystone XL pipeline hits another setback

  

  Bloomberg TransCanada Corp’s $8 billion Keystone XL pipeline may face another eight months of delay after a court ruling raised issues with a four-year-old environmental review. A Montana federal judge found that the 2014 environmental assessment by the Obama administration fell short. President Donald Trump used that review in a March 2017 decision allowing the project to proceed. Now, the …

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