September, 2018

• 22 September

  Genoa bank riven by power battle as ECB demands fix

  

  Bloomberg Whoever wins the very public scrap for control of Italy’s Banca Carige SpA, they won’t have much time to enjoy the victory. A new board proposed by top investor Vittorio Malacalza or one supporting current Chief Executive Officer Paolo Fiorentino will take leadership of a lender that has only weeks to satisfy urgent European Central Bank demands that it …

  Read More »
• 22 September

  Aston Martin confirms ‘003’ supercar for 2021

  

  Bloomberg Aston Martin has confirmed plans to build a hybrid supercar code-named “003.” It’s the third high-performance, mid-engine car the private equity- and Kuwaiti-owned company will have built in recent years, following the $2.6 million Aston Martin Valkyrie and Valkyrie AMR Pro (called “001” and “002,” respectively) that debuted in 2017. The announcement comes as the brand plans to go …

  Read More »
• 22 September

  VW, Ford to get competition in autonomous push from ZF

  

  Bloomberg Volkswagen AG and Ford Motor Co. are set for more competition in the race to roll out self-driving vehicles as parts supplier ZF Friedrichshafen AG develops its own offering in the latest sign of how technology shifts are upending traditional roles in the auto industry. ZF plans to invest $14 billion over the next five years on electric and …

  Read More »
• 22 September

  Toyota agrees to add android auto in its cars

  

  Bloomberg Toyota Motor Corp. agreed to add Android Auto to its vehicles, according to a person familiar with the matter, ending years of resistance to the Google infotainment software due to safety and security concerns. For the first time, Toyota will allow Android Auto devices to connect directly to its cars, after announcing compatibility with Apple Inc.’s CarPlay in January. …

  Read More »
• 22 September

  In a world of robots, carmakers hiring more humans

  

  Bloomberg Car-industry employees concerned that robots will put them out of work needn’t worry — at least for now. Of the 13 publicly traded automakers with at least 100,000 workers at the end of their most-recent fiscal year, 11 had more staff compared with year-end 2013, according to data compiled by Bloomberg. Combined, they had 3.1 million employees, or 11 …

  Read More »
• 22 September

  New airline, Moxy, to cut fares, add legroom

  

  Bloomberg Serial airline entrepreneur David Neeleman is determined to make his next carrier stand out in a market where rivals large and small shoehorn budget-minded travellers into cramped cabins. His proposed low-cost airline, with the working name Moxy, plans to offer passengers novel ways to customise their experience: from legroom to food to price. The founder of JetBlue Airways Corp. …

  Read More »
• 22 September

  American Air joins US rivals in adding $30 baggage fee

  

  Bloomberg American Airlines Group Inc. became the last of the three largest US carriers to boost its fee for a first- or second- checked bag by $5. The change, effective for tickets purchased starting from September 21, puts the charge for a first bag at $30 and $40 for a second. United Continental Holdings Inc. and Delta Air Lines Inc. …

  Read More »
• 22 September

  Moss Bros plunges after UK summer cuts suit sales

  

  Bloomberg UK suitmaker Moss Bros Group Plc is the latest retailer to wilt over the hot summer, warning that lower-than-expected store visits mean full-year profit will be “materially lower” than expected. The shares fell as much as 29 percent to a seven-year low after the company said like-for-like retail sales were down 6.9 percent in the first half. Full-year earnings …

  Read More »
• 22 September

  Amazon to spend $3bn on ‘Go’ stores

  

  Bloomberg If Amazon.com Inc. proceeds with a plan to open 3,000 cashierless stores by 2021, it could cost as much as $3 billion, according to analysts at Morgan Stanley, but also signal a bigger push by one of the world’s largest companies into the grocery business. The e-commerce giant is taking a close look at the future of its AmazonGo …

  Read More »
• 19 September

  UAE, Algeria discuss ways of reinforcing bilateral ties

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the bilateral and economic relations between the UAE and Algeria are based on strong foundations of brotherhood and mutual respect, supported by their historical and cultural ties. He added that the cooperation between the two countries has witnessed ongoing overall developments, especially in the areas of …

  Read More »