September, 2018

• 18 September

  Pandora soars after report that PE funds may buy it

  

  Bloomberg Pandora shares soared in Copenhagen on a report that private equity funds are considering buying the beleaguered Danish jewellery maker. The stock added as much as 11 percent, the most since May 2016, after Italian daily Il Sole 24 Ore said KKR and Bain Capital are among private-equity funds that could be studying a dossier on Pandora. Sole, which …

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• 18 September

  A-listers out as Burberry designer makes his debut

  

  Bloomberg For his first collection at Burberry Group Plc, creative director Riccardo Tisci traded star-studded front rows for another sort of hype: the streetwear-inspired “drop.” Tisci opted for an austere presentation in his debut for the British luxury brand, a dramatic change for the former Givenchy designer, whose celebrity clients included Kim Kardashian and Madonna. No A-listers, no parties, just …

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• 17 September

  Abu Dhabi to sell 25% of Spain’s Cepsa in decade’s largest deal

  

  Bloomberg Abu Dhabi is pushing ahead with an initial public offering for Spanish oil company Cia Espanola de Petroleos SAU, in what could be the largest such deal in a decade. The emirate’s Mubadala Investment Co. will offer a stake of at least 25 percent in Cepsa in the fourth quarter, the state-owned investor said on Monday in a statement. …

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• 17 September

  US to slap 10% tariff on $200bn of China goods

  

  Bloomberg The Trump administration will announce that it’s imposing a 10 percent tariff on $200 billion of Chinese goods, which Beijing has already said it will retaliate against, reports said. The rate is less than half of the 25% level the administration had initially been considering. Still, American consumers could start feeling the cost of the tariffs for everyday goods, …

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• 17 September

  Opec chief sees need to keep oil supply deal

  

  Bloomberg The Organization of Petroleum Exporting Countries (Opec) needs to keep working with other oil producers to manage global supplies as demand for crude faces ‘headwinds,’ the head of the organisation said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of the Opec, said. Oil demand …

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• 17 September

  UAE, Romania discuss promoting cooperation

  BUCHARES / WAM Ways of accelerating cooperation in the investment and trade sectors were the main topic of discussions at a meeting His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, had with Viorica Dancila, Romanian Prime Minister. The two sides met in the Romanian capital, Bucharest, and discussed boosting ties between the UAE and …

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• 17 September

  Tech shares pull down US indexes on trade fears

  

  Bloomberg US stocks started the week lower, while Asian equities slumped and European shares gained, as investors grappled with the latest American threats to expand tariffs on Chinese goods. The dollar slipped and emerging-market currencies declined. The S&P 500 Index was pulled down on Monday by technology companies including Amazon.com Inc., Apple Inc. and Microsoft Corp. Semiconductor stocks also slumped, …

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• 17 September

  China stocks hit four-year low

  

  Bloomberg China’s benchmark equity gauge fell to its lowest close since 2014, before the market’s boom and subsequent bust, while Hong Kong stocks also declined as the US trade dispute and a severe typhoon hurt sentiment. The Shanghai Composite Index fell 1.1 percent to 2,651.79 points, passing its 2016 post-crash low of 2,655.66. The gauge is one of the worst …

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• 17 September

  Maersk customers to pay for $2bn-a-year fuel hike

  

  Bloomberg The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a …

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• 17 September

  Saudi’s sovereign wealth fund raises $11 billion loan

  

  Bloomberg Saudi Arabia’s sovereign wealth fund raised an $11 billion loan, marking its first-ever borrowing. The loan was larger than initially planned due to strong interest from banks and establishes a core banking group for the Public Investment Fund to work with on future deals, the fund said. “This is the first step in incorporating loans and debt instruments into …

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