August, 2018

• 6 August

  World’s biggest passenger jet starts new life

  

  Bloomberg Danish tourists bound for Cyprus got more room than they’d bargained for as the first second-hand A380 superjumbo began its new life with a trip to the Mediterranean holiday island from Copenhagen. The Airbus SE plane, the world’s biggest passenger jet, was hired by Thomas Cook Group Plc for a four-hour flight to Larnaca, a comparatively short hop for …

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• 6 August

  BAE profit falls as US costs hit contract wins

  

  Bloomberg BAE Systems Plc earnings fell almost 10 percent in the first half as Europe’s biggest defense company booked hits against its US operations, offsetting gains from major contract wins. Underlying earnings before interest, tax and amortisation dropped to $1.14 billion from 967 million pounds a year earlier, London-based BAE said in a statement. While BAE has won contracts to …

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• 6 August

  Gump’s survived San Francisco earthquake but not e-commerce

  Bloomberg Gump’s Holdings LLC,, the San Francisco retail landmark that survived the 1906 earthquake, filed for chapter 11 bankruptcy protection after succumbing to the rise of online shopping and shifting consumer habits. After years of losses, the 157-year-old Bay Area department store had been trying to find a buyer, or additional financing since May, to no avail. The closely held …

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• 6 August

  Dior brought back saddle bag with a global Instagram blitz

  

  Bloomberg Excitement for the return of Dior’s equestrian-inspired Saddle bag line—which dominated the “it bag” era of the early 2000s alongside Balenciaga’s “Lariat” and the Fendi “Baguette” before being discontinued—has been bubbling up since designer Maria Grazia Chiuri put them in her runway show in February. Trendsetting models Bella Hadid and Elsa Hosk were soon spotted carrying vintage Saddle bags, …

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• 5 August

  US has an edge over China in tariff war

  

  Bloomberg President Donald Trump defended his use of tariffs that have inflamed tensions with China and Europe, telling an audience of diehard supporters that playing hardball on trade is “my thing.” “We have really rebuilt China, and it’s time that we rebuild our own country now,” Trump said during about an hour of free-wheeling remarks at a rally outside Columbus, …

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• 5 August

  Big Oil cheers quietly as Trump moves to ease auto standards

  

  Bloomberg The Trump administration’s plan to relax fuel-economy and vehicle pollution standards could be a boon to US oil producers who’ve quietly lobbied for the measure. The proposal would translate into an additional 500,000 barrels of US oil demand per day by the early 2030s, about 2 to 3 percent of projected consumption, according to government calculations. “It’s a increase …

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• 5 August

  Saudi prince Alwaleed signs $267 million deal with music firm Deezer

  

  Bloomberg Saudi billionaire Prince Alwaleed Bin Talal has invested 1 billion riyals ($267 million) into music streaming company Deezer, his first deal since being detained last year in a government crackdown on corruption. The prince’s Kingdom Holding Co. investment vehicle and his media company Rotana Group have bought new shares in Deezer, according to a statement from Alwaleed’s office. Deezer …

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• 5 August

  New York yanks air permit on new gas-fired plant

  Bloomberg New York regulators declined to renew an air permit for a controversial 680-megawatt natural gas-fired power plant in New York state, effectively shutting it down just before it was poised to go into service. The Department of Environmental Conservation denied the renewal application. The agency said the owner Competitive Power Ventures Inc. did not have a Title V Clean …

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• 5 August

  Linde-Praxair merger faces hurdle

  Bloomberg A $42 billion merger to create what would become the world’s largest gas producer is facing an unexpected hurdle from the US antitrust regulator that could derail the deal. The Federal Trade Commission indicated it wants Germany’s Linde AG and Praxair Inc. to sell more assets before it approves their deal, Linde said in a statement to the markets. …

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• 5 August

  Asia’s new stock-market king has strong profits

  

  Bloomberg With Japan regaining its place as the second-biggest stock market amid growing trade tensions between the world’s two largest economies, investors expect the nation’s equities to garner more attention. Japanese shares were worth $6.15 trillion compared with just under $6 trillion for Chinese equities, according to data compiled by Bloomberg. The markets swapped position behind the US for the …

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