August, 2018

• 7 August

  Facebook shares rise on optimism for banking relationships

  

  Bloomberg Facebook Inc.’s shares rose on optimism that the company is forging deeper relationships with banks to offer customer-service products via its Messenger chat application, a business that could boost engagement as growth slows on its main social network. Facebook has for years worked to make Messenger a natural place for consumers to communicate with businesses, aiming to replace email. …

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• 7 August

  Cathay Pacific’s recovery hits rough patch on oil, trade war

  

  Bloomberg It’s turning out to be a bumpy road to recovery for Cathay Pacific Airways Ltd. Just when the premium airline was showing signs of a rebound, crude oil played spoilsport again, denting early gains from a transformation plan that CEO Rupert Hogg considers crucial to survival. More uncertainty lies ahead for the world’s third-largest cargo carrier as a global …

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• 7 August

  Pandora slashes forecast with its misery deepening

  

  Bloomberg Pandora A/S plunged after the world’s biggest jewelry maker cut its profit and sales forecasts amid struggles in key markets such as the US and China. The shares fell more than 20 percent, the most in seven years, and were down 19.7 percent at 345.4 kroner in the Danish capital. Investors were battered by a similar slump just three …

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• 7 August

  P&G languishes as new rivals hurt momentum

  

  Bloomberg Procter & Gamble Co. (P&G) is still the king of diapers and shampoo, but an onslaught of new competition and tighter ordering from traditional retailers is tarnishing the consumer-goods giant’s crown. Investors were lukewarm to the company’s fourth-quarter results, leaving the shares little changed after sluggish organic sales growth. In addition to the new rival products — which range …

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• 7 August

  Burberry changes logo for first time in two decades

  

  Bloomberg Burberry has changed its logo for the first time in 20 years, revealing the new look via an Instagram post. The British heritage brand’s new logo says “Burberry London England” in stark capital letters, replacing the softer, rounder font the company previously used. Riccardo Tisci, the star designer Burberry hired this year to revamp its brand image, posted screen …

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• 7 August

  Walmart’s zeal for green power meets a coal-loving president

  

  Bloomberg The plan laid out by Walmart Inc. was bold and startling: One of the biggest private electricity users in the US promised to get half its power from solar and wind by 2025. If successful, Walmart would leap over Google to become the world’s top green-energy buyer. That was November 4, 2016. Days later, Donald Trump was elected president, …

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• 6 August

  UAE voices solidarity with Saudi against any foreign interference

  ABU DHABI / WAM The UAE has expressed its absolute rejection of any interference in the internal affairs of the Kingdom of Saudi Arabia and voiced its vehement support for any actions or policies the country may take or adopt in this regard. ‘‘The UAE stands in solidarity with Riyadh in the confrontation of any foreign interference that may undermine …

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• 6 August

  Oil rises as Saudi cuts spark supply fears

  

  Bloomberg Crude rose after Saudi Arabian production cuts heightened concerns about tightening worldwide supplies. Futures in New York advanced as much as 1.6 percent on Monday. Saudi Arabia reduced oil production to about 10.3 million barrels a day in July, according to delegates in the Organization of Petroleum Exporting Countries. The kingdom told the group it had pumped 10.489 million …

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• 6 August

  US stocks fluctuate as dollar, bonds advance

  

  Bloomberg US stocks fluctuated and the dollar climbed versus most of its major peers after China signalled it won’t flinch in a trade war. Major American equity averages swung between gains and losses in trading 14 percent lower than the 30-day average at this time of day. PepsiCo Inc. edged higher after chief executive officer stepped down. The Bloomberg Dollar …

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• 6 August

  India surges to record high, bank stocks gain

  

  Bloomberg Indian stocks extended recent gains amid an earnings season that has buoyed investor optimism about the outlook for companies’ profit growth and sent the benchmark index to record closes in eight of the last 11 trading sessions. The S&P BSE Sensex climbed 0.4 percent to 37,691.89 at close in Mumbai. As many as 12 out of the 19 sectoral …

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