September, 2018

• 26 September

  Britain’s struggling Debenhams takes design tips from your clicks

  

  Bloomberg Going viral may soon be a requirement for products to get prime placement in a Debenhams store. At its “store of the future” northwest of London in Watford, England, Debenhams Plc is leveraging an online community of beauty-product enthusiasts to drum up foot traffic. The merging of online and in-store shopping experiences is the latest effort to transform the ...

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• 26 September

  UBS splits investment bank job after Orcel quit

  

  Bloomberg UBS Group AG’s investment bank was dealt a fresh blow as Andrea Orcel, the top rainmaker at a business that’s lost much of its clout in a shift toward wealth management, left for Spain’s Banco Santander SA. The Swiss bank promoted two executives to jointly lead the investment bank, splitting the role held by Orcel, it said. Piero Novelli, ...

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• 26 September

  JPMorgan plans 50 new branches in Philadelphia

  

  Bloomberg JPMorgan Chase & Co. is opening its first retail branches in the Philadelphia area as part of a broader plan to bolster the consumer bank by expanding into more than a dozen new markets over five years. The largest US bank by assets is planning to open about 50 branches and hire 300 people in Philadelphia, Delaware and Southern ...

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• 26 September

  Trump’s latest Fed candidate seen strengthening board as risks bubble

  

  Bloomberg The White House’s latest pick for the Federal Reserve Board was deliberately chosen for her financial stability expertise and knowledge of the Fed system to round out a board of monetary policy experts and Wall-Street savvy lawyers. President Donald Trump plans to nominate Nellie Liang, a Ph.D. economist who ran the Fed’s financial stability unit until her retirement last ...

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• 26 September

  Morgan Stanley plans lifting ranks of its women leaders

  

  Bloomberg Morgan Stanley’s highest ranking women are flying to New York this week from around the world to solve a gnawing problem: There aren’t enough of them. The bank, looking to support the advancement of women to its top echelons, is hosting a summit in Manhattan on Wednesday and on Thursday for about 350 who are already managing directors at ...

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• 25 September

  11,000 Yemeni families benefit from UAE aid

  

  HADRAMAUT / WAM The Emirates Red Crescent (ERC), continues to provide relief aid to eligible households in Al-Reida and Qusayr districts of the Hadramaut governorate. Teams from the UAE’s premier aid arm have recently distributed 1,000 food baskets containing basic necessities to some 5,000 individuals in Qusayr. Since the beginning of 2018, marked as the ‘Year of Zayed’, more than ...

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• 25 September

  India, Pakistan feud costs $35 billion in annual trade

  

  Bloomberg India and Pakistan’s bitter rivalry is costing them $35 billion worth of annual trade, the World Bank said in a report. Someone might want to tell the two countries’ leaders — both of whom want to boost trade to battle widespread poverty. The World Bank called for South Asia, the world’s least economically-integrated region, to start cooperating instead of ...

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• 25 September

  Deepwater oil rigs on brink of recovery after years in doldrums

  

  Bloomberg Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a bigger chance it will actually happen, according to analysts at Credit Suisse Group AG and Morgan Stanley. Some of the world’s biggest owners of rigs that drill oil wells in more ...

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• 25 September

  Oman’s Renaissance mulls $1.5bn Topaz Energy IPO

  Bloomberg Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalisation of about $379 million, could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. Goldman ...

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• 25 September

  US stocks mixed as Trump warns China on trade

  

  Bloomberg US stocks were mixed after President Donald Trump said China is taking advantage of the US on trade while oil producers rallied on stronger crude prices. Treasuries fell as the Federal Reserve started its two-day policy meeting. US benchmarks briefly fell to their lows of the day as Trump told the United Nations that the US trade deficit with ...

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