July, 2018

• 8 July

  Danske Bank’s laundering profits targeted by Danish government

  

  Bloomberg As indignation grows over what may be the biggest financial crime saga in modern Danish history, politicians are looking for ways to ensure the country’s largest bank isn’t let off the hook. Danish Business Minister Rasmus Jarlov says he wants to focus more effort on finding out just how much money Danske Bank A/S made on illicit dealings amid …

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• 8 July

  Airbus CEO lashes out at UK govt over handling of Brexit

  

  Bloomberg Airbus SE CEO Tom Enders ratcheted up his criticism of the UK government over its handling of Brexit talks as PM Theresa May prepares to hold a key meeting of ministers aimed at thrashing out a common position on the issue. May’s administration has “no clue or consensus on how to execute Brexit without severe harm,” Enders said. The …

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• 8 July

  Thai billionaire’s retail unit eyes China, India expansion

  

  Bloomberg Thai billionaire Dhanin Chearavanont’s retail subsidiary CP All Pcl is considering an expansion of wholesale operations in China and India to tap the might of consumers in the world’s most-populous nations. CP All’s Chief Financial Officer Kriengchai Boonpoapichart said the firm’s cash-and-carry unit Siam Makro Pcl is studying opportunities in the two countries, as well as the possibility of …

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• 8 July

  Air France pilots bristle at prospect of Dutch CEO

  

  Bloomberg Air France pilots said they’re concerned Paris would lose out to Amsterdam if KLM unit chief Pieter Elbers becomes the first Dutch head of Air France-KLM, throwing up another obstacle in the search for a permanent CEO. Elbers, 48, has emerged as a serious contender to take the top job at the parent company after the French government, its …

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• 8 July

  Indian tycoon takes on Amazon, Walmart

  

  Bloomberg Reliance Industries Ltd. plans to take on the likes of Amazon.com Inc. and Walmart Inc. in India’s retail industry by creating a platform that combines online and conventional shopping. Billionaire Chairman Mukesh Ambani outlined the plan at the company’s annual shareholders’ meeting in Mumbai saying Reliance saw its “biggest growth opportunity in creating a hybrid, online-to-offline new commerce platform.” …

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• 8 July

  Bombardier loses its edge on Embraer after Airbus deal

  

  Bloomberg Bombardier Inc.’s edge over arch-rival Embraer SA didn’t last long. Four days after the Canadian jetmaker completed its tie-up with Airbus SE, Embraer announced its own joint venture with Boeing Co., giving both regional jet makers deep-pocketed partners as they do battle at the low end of the commercial aircraft market. Boeing’s partnership with Embraer is clearly a “direct …

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• 7 July

  Forget tech, big oil is doling out America’s fattest paychecks

  

  Bloomberg Move over Wall Street titans and Silicon Valley giants. When it comes to paychecks, Big Oil now looks like the best bet for the US workers. Spurred partly by the shale boom, the median pay for energy workers last year was $123,000, according to data newly mandated by the US That topped all sectors, including utilities, tech and health …

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• 7 July

  Saudi tells OPEC June output jumped to 10.5mn barrels a day

  

  Bloomberg Saudi Arabia told OPEC that it pumped about 10.489 million barrels of crude a day last month as the kingdom sought to cap rallying prices by ramping up output, according to people familiar with the matter. The biggest member in the Organization of Petroleum Exporting Countries (OPEC) pledged last month it would raise output as consumers grow alarmed by …

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• 7 July

  Billionaire sets up $10bn Nigerian oil refinery

  

  Bloomberg Africa’s richest man, Aliko Dangote, plans to start selling gasoline, diesel and aviation fuel by early 2020 from an oil refinery he’s building near Lagos, Nigeria’s commercial capital. The $10 billion refinery, set to be one of the world’s largest and process 650,000 barrels of crude a day, should be near full capacity by mid-2020, Edwin Devakumar, group executive …

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• 7 July

  Oil exploration in US expands

  Bloomberg Oil explorers deployed more rigs in the US this week as crude prices breached $75 per barrel for the first time since 2014. The US working oil rigs rose by five this week to 863, halting two straight weeks of declines, according to data from Baker Hughes. Shale fields in the Southwest and Great Plains accounted for most of …

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