July, 2018

• 11 July

  China Eastern plans $2.2 billion share sale to fund aircraft

  

  Bloomberg China Eastern Airlines Corp., one of the nation’s top three carriers, is raising as much as $2.2 billion from a sale of shares to help fund purchases of aircraft and engines as the company expands its fleet to meet surging demand for air travel. The state-owned airline proposes to sell as many as 1.62 billion shares on the mainland …

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• 11 July

  Sainsbury names new chief before Asda deal

  Bloomberg UK grocer J Sainsbury Plc named Martin Scicluna as its chairman, tapping a former senior executive at accounting firm Deloitte as it prepares to add Walmart Inc.’s Asda unit in a $9.7 billion deal. Scicluna, who is also chairman of RSA Insurance Plc, will replace David Tyler in March or soon after, following a five-month handover period, Sainsbury said. …

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• 11 July

  Airbus, Boeing win $3.1bn order from Singapore Air-Tata venture

  

  Bloomberg Airbus SE and Boeing Co. split firm orders for 19 jets from the Indian affiliate of Singapore Airlines Ltd. that is seeking to start international flights and bolster local operations. Vistara, as the airline is known, will buy 13 of the A320neo and A321neo jets that have a list price starting at about $111 million each and six Boeing …

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• 11 July

  South African to seek partner ‘immediately,’ says union

  

  Bloomberg South African Airways (SAA) pledged to urgently begin a search for a private-sector partner to help turn around the troubled state-owned carrier and ease the burden on an already stretched National Treasury. The assurance followed an attempt by the Solidarity union to end SAA’s reliance on state funding and push the airline into business rescue. The carrier hasn’t made …

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• 11 July

  Plane crash kills 1, injures 20 near Pretoria

  Bloomberg A charter plane crashed at an airport near the South African capital of Pretoria, injuring about 20 people, according to emergency services. One person died, News24 reported. “Initial reports show that approximately 20 people had sustained injuries ranging from minor to critical,” ER24 said. “The details surrounding this incident are not yet known to our paramedics.” While the aircraft …

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• 10 July

  Al Mazrouei: OPEC is doing its part but won’t overdo it

  

  Bloomberg OPEC and its allies are doing what they can to offset crude output shortfalls that have kept global supplies tight and prices high, but they don’t want to overdo it. That was the message from United Arab Emirates Energy Minister Suhail Al Mazrouei after being asked about US President Donald Trump’s call for the group to do more. He …

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• 10 July

  S&P 500 on longest rally in month; Treasuries drop

  

  Bloomberg Stocks rose and Treasuries fell as a lull in the trade war gave investors room to focus on the start of the earnings season. The S&P 500 Index gained for a fourth day, the longest streak since the beginning of June. PepsiCo Inc. jumped more than 3 percent after reporting better-than-forecast profit, bolstering optimism that Corporate America enjoyed a …

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• 10 July

  Double-digit profit growth seen again for India equities

  

  Bloomberg At a time when emerging markets have been roughed up by trade tensions between the world’s biggest economies, the earnings picture in India is improving. That’s the message from Morgan Stanley as it expects companies in the S&P BSE Sensex to report a 23 percent increase in net income in the June quarter from a year earlier, with more …

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• 10 July

  Natural gas drillers are fighting for their lives

  

  Bloomberg The natural gas industry is on a mission to prove it can keep up with the green energy industry, whose price reductions are starting to become a competitive threat to fossil fuels. Gas and oil producers have slashed overheads by a third since 2014 and are finding deeper reductions harder to come by, according to energy consultants Wood Mackenzie. …

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• 10 July

  Canada crude supply to stay tight as Syncrude remains down for weeks

  

  Bloomberg Canadian crude supplies may remain tight in the coming weeks as Suncor Energy Inc works to bring its massive Syncrude oil-sands operation back online, a process that the company said won’t be completed until September. Pipeline shipments from the facility, which went down last month after a transformer trip cut power to the plant, will be about 60 percent …

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